How much does PayPal charge for overseas payments?

This is a question which is asked by people from all over the world on a daily basis. The answer to this is simple. There is a simple calculation which lets you know the charges incurred on your transactions on PayPal. In this article, we are going to briefly explain when and how PayPal charges you for overseas payments and what you can do to calculate the charges beforehand. At the end of this article, you will have answers to some crucial questions and clear all your doubts related to PayPal charges. So, let’s get started

PayPal charges

Does PayPal charge you for sending money?
No. When you are sending money via PayPal, there are no charges for the transaction.
Does PayPal charge you for receiving money?
Yes. When you are receiving money via PayPal, there are some charges incurred which are as follows: 2.9% of the amount + $0.30 per transaction The charges differ based on your geographical location. To know the amount charged by PayPal in your country, use this online PayPal currency converter.

Let us understand with an example how much PayPal charges for receiving money from overseas.
Alex lives in the US. He sends $1000 to his family living in Canada every month via PayPal. His family receives $968 after PayPal deducts the transaction fees.

NOTE: PayPal fees depend on currency conversion (for international transactions), the nature of the transaction and other factors. The exchange rates differ from country to country and so does the transaction charge

Calculations matter

You have a regular stream of income coming from overseas. You receive regular payments via PayPal from your customers from foreign countries. You need to know if these transactions are bringing profit as you expect. PayPal conversion rates really matter in this case.
Every time you receive money from overseas, make sure to calculate the actual amount you’ll have in your account. This will help you understand if the transactions from overseas are worthy or not.

PayPal is not the only platform for overseas transactions. While PayPal is a widely used platform for international transactions, you can opt for other platforms too. Here are some alternatives to PayPal you can try:

Payoneer
Payza
Google Wallet
Checkout
Skrill

There’s more. Check out this list of the best PayPal alternatives you can use in 2020.

Is PayPal worth it?

While a lot of people may debate for and against PayPal, we believe that its worthiness depends on the amount and the frequency of transactions. If you are a regular user of PayPal and receive huge amounts of money via PayPal every month, you do not have to look for an alternative. However, if you occasionally receive money from overseas, you might want to consider other options.