![]() ![]() If you’re going to be using PayPal to send money abroad, it’s a good idea to familiarize yourself with the fees that will be associated with this type of transaction. The company supports international money transfers to over 200 countries and can process your transfer in a few working days. Yes, you can certainly use PayPal to send money internationally. Related content Can I use PayPal to send money internationally? South Georgia and the South Sandwich Islands.That’s because the exchange rate used to get your money back to you may be different to the one which applied on the day you made the payment. It’s worth noting that for international transactions the amount refunded may not be the same as the amount you originally sent. The recipient will then have to log into their PayPal account to refund the money to you. If your payment was incorrect but has already been claimed, you’ll need to email and ask the recipient for a refund. If the payment has already been processed and claimed, you’ll need to ask your recipient to send a refund instead. Any which are as yet unclaimed will have an option to cancel showing. Go into the Activity section of your account to check the status of recent payments. ![]() You’ll only be able to cancel a payment if it has not yet been claimed by the recipient. You’ll be able to hold dozens of currencies, send payments around the world, and receive transfers for free in USD, GBP, EUR, RON, AUD and NZD using your own local bank details. You can make a one off transfer, or to make it even easier to manage your money, get a free online Wise multi-currency account. There’s just a single, simple fee per transaction and you’ll be able to see instantly the rate being used and the amount your recipient will get in the end. Take a look at Wise for simple, cheap online payments all over the world.Īll Wise payments use the mid-market exchange rate with no markup. A cheap and transparent alternative: Wiseīefore you decide how to arrange your international transfer, it pays to check out a few alternatives. Read on for more about Wise - a good example of a modern alternative service which avoids exchange rate markups and uses a simple, transparent pricing system instead. It’s helpful to know that not all international payment providers choose to add a markup to the exchange rates used. For international payments to friends and family, the markup is 3.75%. The markup added by PayPal may vary depending on the type of transaction you’re carrying out. Then they’ll add a percentage margin to this rate to create the PayPal exchange rate used for customer transfers. In practise, what this means is that PayPal first buys foreign currency. Start saving with Wise PayPal exchange rateĪs we highlighted above, PayPal adds a currency conversion fee, which is also known as a spread or markup, to the exchange rate they offer customers. Wise offers fast, secure international transfers - with the mid-market exchange rate PayPal - payment funded by credit or debit cardĥ% of send amount, from $0.99 to $4.99 + 2.9% funding fee + fixed fee GBP0.20ĥ% transaction fee + 2.9% funding fee + GBP0.20 + 3.75% currency conversion fee PayPal - payment funded by PayPal balance or linked bank accountĮxchange rate + 3.75% currency conversion feeĥ% transaction fee + 3.75% currency conversion fee Let’s take a look at an example to illustrate the costs - sending a payment of USD1,000 to a friend in the UK. A quick cost example: sending $1,000 from the US to the UK It’s also worth knowing that you’ll pay a PayPal exchange rate fee when you make a Paypal international transfer. Paying with a credit or debit card incurs additional fees compared to funding your transfer using your PayPal balance or a linked bank account. The PayPal transfer fee for sending money to friends and family abroad can vary according to how you fund the payment and where the money is going. Here you’ll find a status update for all your recent transactions for checking. You can easily see where your money is, by looking at Your activity on the PayPal app, or clicking Recent activity on the website. If you’re sending money overseas, PayPal also encourages users to look at Xoom - another PayPal company which specialises in cross border transfers. ![]() If your recipient doesn’t already have a PayPal account they’ll get a message - email or SMS - telling them to create one to access their funds. You’ll then be able to log into your PayPal account, select the amount to send and get started. All you need to know is the email address or phone number of the person you’re sending to. PayPal makes it very easy to send money to others.
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