How much does PayPal charge to send money to Vietnam?

PayPal’s Fees for Sending Money to Vietnam

PayPal is a widely used platform for sending and receiving money internationally. When sending money to Vietnam using PayPal, it’s important to understand the associated transaction fees. These fees vary depending on the specific service used.

Sending Money

• PayPal Balance (USD): 0% fee
• Credit or Debit Card: 4.9% of the amount sent (minimum fee of $0.99)
• Bank Account (USD): 0% fee (but may incur international wire transfer fees from the bank, if applicable)

Receiving Money

• Standard (USD): Free if the sender uses PayPal Balance or a USD bank account
• Standard (Other Currency): 5% conversion fee if the sender sends in a currency other than USD
• Instant (USD): 1% fee

Making Payments

• Personal Payments: Free for both domestic and international transactions
• Business Payments: Variable fees based on factors such as volume, currency, and payment method (typically around 2-3%)

Exchange Rates

In addition to transaction fees, the exchange rate used by PayPal can also affect the final amount received or sent. PayPal typically uses its own exchange rate, which may differ from the official market rate. This difference can result in additional costs or a reduced amount received.

Other Considerations

• PayPal may charge additional fees for rejected or canceled payments.
• Sending large amounts of money may require additional verification and documentation.
• The recipient’s bank may also charge fees for receiving international transfers.

Conclusion

Understanding PayPal’s transaction fees and exchange rates is crucial before initiating any money transfer to Vietnam. By carefully considering these costs, you can ensure that you minimize unnecessary expenses and maximize the amount received by the recipient.