Fee for sending money to a friend or family member
We’ve simplified the fee we charge when sending money internationally. Now, PayPal balance and bank account payments will incur a fixed fee of $5.99 AUD, instead of a percentage of the amount you are sending.
So if I send 1 dollar i have to pay 6 dollars?
No - $5.99.
No - $6.99…
That percentage was the whole reason I had a legal offshore bank account in USD. Even more reason for others to do the same.
I've been trying to setup an offshore USD account. If you could enlighten me on the process that would be amazing! Can PM me if you have time.
Thanks heaps
Jason
Pretty easy, pm me if you don’t get a response from Clear.
Where did you hear about this? According to https://www.paypal.com/au/webapps/mpp/paypal-fees#sending-fr…
There's a fixed fee for sending overseas when funded by your credit or debit card (and not your linked bank account)
I never used the feature though so I dunno what's normal
We'll most certainly be stunt by this. I pay the competition winners at our New Zealand and Singapore sites regularly and almost always use PayPal's send money to Family & Friends to pay the prize. Might now need to find ways to work around it.
I recommend you offer litecoin (or another cryptocurrency with low fees) if you can handle the relevant compliance / AML.
edit: Not a shitpost/trollpost. A lot of people wouldn't mind getting crypto, especially if they don't have to "buy" it.
How difficult would it be to set up local bank accounts in NZ and Singapore?
We don't even have the presence there, not to mention all the accounting complexities just to give away a few hundred dollars each month…
Litecoin
Just saw the thread on reddit, I wont be using them anymore.
https://www.reddit.com/r/australia/comments/8duasr/psa_paypa…
https://www.paypal.com/au/webapps/mpp/ua/cfsgpds-full?countr…
PayPal Is Now Charing
paypal is burning money?
dammit, i fixed it
$5.99 isn't bad. the 2.6% + 3.6% fee is where it'll hit consumers the most.
I thought they made their money on terrible exchange rates
that and fee's
no apostrophe in fees.
After Paypal announced this new fee structure, they claimed that despite their crypto-patents that they weren't making crypto a priority. But they literally just gave up a monopoly on instant international micro- and mini-payments, so are they bluffing?
Almost no one has a Transferwise Borderless account and of course it's not instant anyway. Who knows if they even plan to support PayID in Australia so at least half of a transaction is instant???
We got charged AUD$5.99 per transaction when we tried to pay our New Zealand competition winners last week. We will be sending our overseas winners (or Australian winners with overseas PayPal account) gift card prizes now.
So - I have been running the Spotify Philippines account rort (sorry, 'bargain') for a while using a PH Paypal account which is now empty.
A foreign transfer from my Aussie Account to the PH one now incurs a $5.99 fee :( - Is there another way I can load money onto that account without getting slugged fees?
I used to send $ to the USA for small purchases (a few dollars each time). PP priced themselves out of the market completely with this change, almost as though they want to exit.
The only alternative I've found is to purchase Amazon gift cards (any digital amount is allowed) and most sellers don't mind taking this form of payment if they purchase things from Amazon regularly.
yes