How much will PayPal charge me to send money internationally?

Calculating Fees for International Money Transfers with PayPal

PayPal, a widely used online payment platform, facilitates international money transfers, but this service comes with associated fees. Understanding the fee structure is crucial to determine the overall cost of your transaction.

Percentage-Based Charges

PayPal charges a percentage-based fee of 2.99% on all international money transfers. This fee applies to the amount you send, regardless of the recipient’s currency.

Additional International Fee

In addition to the percentage-based charge, PayPal also imposes an international fee of 1.5%. This fee is fixed and is applicable to all international transfers.

Fixed Fee Based on Recipient Currency

The final fee component is a fixed fee that varies depending on the currency of the recipient’s PayPal account. This fee ranges from €0.15 to €4.00 for EUR currency and from $0.15 to $5.00 for USD currency.

Determining the Total Cost

The total cost of your international PayPal transfer will depend on the recipient’s currency and the amount you send. To calculate the total cost, follow these steps:

1. Multiply the amount you are sending by 2.99%, which represents the percentage-based charge.
2. Add 1.5% to the amount calculated in step 1, which represents the international fee.
3. Add the fixed fee based on the recipient’s currency.

Example

Suppose you are sending €100.00 to a recipient whose PayPal account is in EUR currency. The total cost of the transfer would be:

• Percentage-based charge: €100.00 x 2.99% = €2.99
• International fee: €2.99 + 1.5% = €3.04
• Fixed fee: €0.15

Total cost: €3.19

Conclusion

PayPal’s fees for international money transfers consist of a percentage-based charge, an international fee, and a fixed fee based on the recipient’s currency. By understanding the fee structure, you can accurately calculate the total cost of your transaction and plan your budget accordingly.