Paypal fees?

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wickedDUDE

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Jun 25, 2006
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If I receive money to my paypal account, and I want to transfer that money into my bank account, how much does that cost? How long does it take?

Thanks.
 


free.

problem being where the money originally came from, if its for a cc then you'll pay the fees with that.
 
Takes 3 or 4 business days, but it's free. It's the fees you pay when someone pays by CC that pisses you off, but it's the price you pay for convenience. BTW, don't leave money in your Paypal account.

You can find out why here: PayPalSucks.com is where you will learn about the PayPal Class Action Lawsuit, Abuse, Fraud & evil behind the PayPal system!

(no, it's not a RickRoll)

I still use Paypal even after I've been burned by them before for about $100 or so. I do it for the same reason I use an iPod and I use Windows: they are the most popular and thus the most compatible with everything else. It's just the way it goes.
 
wickedDUDE said:
what if its u.s.d. going into a canadian account?
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If it's over $150 it's free / no fees. If it's going in your Canadian bank it will take about 5 business days. Most likely though, you'll get dinged by your bank on conversion for about 3%
 
It's only free if you have a basic account (and can only receive funds from an account balance).

I believe the fees for a Premium or Business are about 4% to receive a payment. (Of the top of my head 3.4% plus a small flat fee I think, and it may vary depending on the amount.)

Anything over £50 ($100 I guess) is free to transfer to your bank, 25p (guessing 50c) fee for less than that.
 
Here's the full UK fee strusture - assume the US is similar. Just login and click on fees at the bottom ;) Withdrawal takes 5 working days.

Maybe not... the forum is messing up the formatting of the table.

Accept payments - 1.4% + £0.20 GBP to 3.4% + £0.20 GBP

Withdraw - as above post.

Worth noting:

If your transaction involves a currency conversion, it will be completed at a retail foreign exchange rate determined by PayPal, which is adjusted regularly based on market conditions. This exchange rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency, and the spread is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction. View Currency Converter

An additional international fee of 0.5% may be incurred. This fee is waived for UK sellers who have a PayPal account registered in an EU country and who receive payments in Euros from other European Union countries.
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Probably varies from country to country.... if you are going to ask questions like this it would help if you fill in your location. :D
 
geekcognito said:
You can find out why here: PayPalSucks.com is where you will learn about the PayPal Class Action Lawsuit, Abuse, Fraud & evil behind the PayPal system!http://www.paypalsucks.com/
Click to expand...

As well as finding out how to create a great landing page to sell your own credit card processing service.

Many of the complaints about PayPal are common practices in the credit card merchant processing system. For example, most processors require that you have a linked business bank account that they can draw from any time there's a chargeback and/or they charge hefty yearly fees to insure against chargebacks. Plus they usually require a good credit rating and other financial documentation as well as a certain amount of cash flow.

Since PayPal allows people with no real business credentials and with poor credit ratings to participate in their program, problems like most of those described on that site are almost inevitable.
 
Paypal does suck in that they think they got the biggest balls in the biz. But they also pay over 5% interest on your balance with no minimums, which is better than any money market account.
 
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