Hey, I’ve just started using paypal and I want to know their charges. A friend of mine sent 50$ to my paypal account and I got 47$. So does it mean if someone pays me 500$, i will have to pay 30$ to paypal? I have only basic type of paypal account (I thought that would be cheaper). Can someone please confirm me if these are paypal standard charges or do I have to change the Paypal account type. Thanks
Sounds about right, Yea they rip off everyone
Welcome to the world of Paypal…
And their exchange rate is one of the worst I have some across! Can’t for stripe to gain enough traction to crush them.
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I pay $8 for a $420 transaction for example, not that much. 2%
Not sure whether it depends on location, I’m in the same place with FinalDestiny and Paypal takes $12 when I get $300. So according to that, it would be 4%, meaning you would need to pay Paypal $20 when receiving $500. But fees may vary, I’m not really sure.
The above does not apply to earnings sent from an Envato marketplace to your Paypal account, those are not taxed by Paypal.
As for small transfers between friends, I suggest using donations instead. But not too often
As it does seem a lot it’s really not PayPal has to have money to operate also so they have to charge fees. But yeah the amounts you were saying sound right!