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PayPal international money transfers

Did you know that you can use PayPal to transfer money overseas quickly and easily? We show you how.

PayPal is a well-known, digital payments company. Owned by eBay Inc., PayPal offers a fast and safe way to send money online.

Having been established in 1998, PayPal has been offering its services in Australia since 2005. The company processes some 9.3 million payments every day, and it has more than 150 million active account holders worldwide. Trading in 100 currencies and across more than 200 markets, PayPal also boasts in excess of five million active customer accounts in Australia.

Using a money transfer can be cheaper than using Paypal

Rates last updated May 27th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
TorFX guarantee to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
WorldFirst International Money Transfers
AUD 2,000
1 day
Online, Phone
Access live rates, currency converter and market updates via the WorldFirst Money Transfer mobile app. No transfer fees for personal or business customers.
FC Exchange International Money Transfers
AUD 3,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange will match any competitor's exchange rates. Conditions apply.

No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
XE International Money Transfers
AUD 0
1 day
Online, Phone, Bank Account to Bank Account
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators, while benefiting from $0 transfer fees.
ANZ International Money Transfer
AUD 0
1 - 2 days
Online, Phone, Bank Account to Bank Account
Transfer to over 99 countries via online banking, phone banking or through an ANZ Bank branch. Rate last updated on 15/05/2018 at 10 am. Find out how we calculate this exchange rate.
Moneycorp International Money Transfers
GBP 50
Same day
Online, Phone, Bank Account to Bank Account
The longest standing and largest full service specialist currency provider in the UK.
HiFX International Money Transfers
AUD 50
2 days
Online, Phone, Agent
Transfer amounts as low as $50. No maximum transfer amount. No transfer fees if you transfer more than AU$10,000.
Currency Online International Money Transfers
AUD 0
2 days
Online, Phone
Enjoy regular scheduled transfers, one off transfers and a range of currencies. Also enjoy your first transfer for free.
BFX Australia International Money Transfers
AUD 250
2 days
Online, Phone, Agent, Bank Account to Bank Account, International Money Order
Pay $0 fee when you transfer more than $5000, regardless of whether you transfer online, over the phone or in branch.
FlashFX International Money Transfers
AUD 200
1 day
Online, Bank Account to Bank Account
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

They can help you with all your needs including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Though perhaps best known for its ease of use when making purchases from online merchants, PayPal also makes it easy to send money overseas. PayPal’s service is fast and secure, though the company’s fee structure means this service is best used for transferring smaller amounts, usually up to a maximum of a few hundred dollars.

PayPal exchange rates

PayPal generally offers slightly better exchange rates than Australia’s "big four" banks. However, in most cases, its exchange rates aren’t as high as those offered by specialist money transfer services. See the comparison table below to determine how PayPal’s rates stack up against the competition.

$1 AUD inPayPalWestpacTorFX
USD0.73430.72030.757
GBP0.52080.51670.543
CAD0.93620.92500.973
JPY79.460278.680082.362
EUR0.60060.58980.62
NZD1.02271.01541.059
THB23.111622.714523.905

* Rates accurate up to 24 April 2018

Whenever you wish to send money overseas with PayPal, you can see the conversion rate that applies when you lodge your transaction. PayPal adjusts its rates frequently to stay in line with market conditions.

How much does it cost to transfer money with PayPal?

It’s free to sign up for a PayPal account. However, as well as exchange rates, you’ll also need to take fees into account when transferring funds. The fees which apply when you send money via PayPal depends on where your money is going and whether the transaction is funded from your PayPal balance, bank account or credit card. Fees are charged based on a percentage of the money you are transferring.

Where are you sending money?If transaction is funded by your PayPal balance or bank accountIf any part of your transaction is funded by Credit or Debit card
Brazil$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Canada$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
China$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Hong Kong$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Singapore$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Taiwan$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
US$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Germany$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Italy, Netherlands, Belgium, France$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Poland$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
Other European countries$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency
All other countries$5.99 AUD$5.99 AUD + 2.6% of the portion funded + fixed fee based on the currency

Minimum transfer amount and available countries

As PayPal is widely used for small payments, the minimum you can transfer in AUD is $0.03. PayPal supports 25 currencies around the world.

PayPal is available in 203 countries, a list of which can be found on the company’s website. While no such list exists of countries excluded from PayPal international money transfers, you won’t be able to use PayPal to send money to places like Afghanistan, Burma, Cuba, Iran, Iraq, Syria or Sudan.

What types of transfers can you carry out with PayPal?

PayPal is designed to take care of one-off transfers when you need to send money to someone. While it is possible to set up regular scheduled transfers, this will incur a fee.

Other transfer options, such as forward contracts or limit orders, are not available. Your PayPal account is linked to your bank account, which is how you can access the funds you receive and withdraw them.

If you need customer support, PayPal has a well-organised Online Help Centre. However, you can also phone or email the company with any queries you may have.

How to transfer money from your bank account to PayPal

  1. Log into your PayPal account
  2. Click "Add money" under your PayPal balance
  3. Select the bank account you want to transfer from, enter the amount to transfer and click "Add".
  4. The expected clearing date is two to three business days depending your bank.

The registration and transfer process

Both you and your recipient will need a PayPal account, but these are quick, easy and free to sign up for. You’ll need to provide:

  • Your email address
  • Name
  • Date of birth
  • Phone number
  • Address
  • Linked bank account or credit card details

Once you’ve signed up and logged in, click on the "Send Money" tab in your account overview. Enter the email address or phone number of the person you are sending money to, the amount you wish to send and the reason for the transaction. You’ll then be shown the fees and exchange rate which will apply, before being given the opportunity to review your transaction and then click "Send Money".

The entire process is relatively straightforward and the money typically arrives within minutes.

What are the pros and cons of using PayPal?

Pros

  • Better exchange rates than banks. PayPal’s exchange rates are typically a little better than those offered by the "big four" banks.
  • Fast. Your money arrives within minutes.
  • Secure. PayPal transactions are protected by state-of-the-art security technology.
  • Great for small transactions. PayPal’s fee structure is perfect for sending smaller amounts of money.

Cons

  • Large fees for large amounts. The fee you have to pay for international money transfers is based on the amount of money you send.
  • Exchange rates could be better. You’ll typically be able to find better exchange rates with money transfer companies.

What other products and services does PayPal offer?

PayPal offers a variety of products and services to customers, including:

  • Online shopping. You can use PayPal to checkout faster at tens of thousands of online and mobile stores.
  • Business solutions. PayPal allows business to accept payments from credit cards, debit cards, linked bank accounts and PayPal accounts online.
  • PayPal Here App and Chip and PIN card reader. These services allow you to accept payments on the go.

FAQs

Is PayPal available for non-residents?

Yes.

What’s their refund/ dispute handling process?

PayPal has a detailed dispute resolution process in place to ensure that you can send money successfully.

Is PayPal suitable for small businesses?

Yes, it’s simple to open up a business account with PayPal.

The PayPal app only allows you to send money within Australia.

How can I check my balance?

This can be easily done by logging into your account online or through the smartphone app.

If you’re looking to transfer no more than a few-hundred dollars overseas, PayPal could be the best money transfer option for you. However, compare PayPal’s fees and exchange rates with those of banks and money transfer companies to ensure you end up with a great deal.

The latest in foreign exchange

International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantee to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

OFX (Ozforex) International Money Transfers

Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

WorldFirst International Money Transfers

Access live rates, currency converter and market updates via the WorldFirst Money Transfer mobile app. No transfer fees for personal or business customers.

FC Exchange International Money Transfers

FC Exchange will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

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12 Responses

  1. Default Gravatar
    September 14, 2015

    Bonnjour j’ai besoin d’un credit d’un outil de travaill nomer Garrett ATX a la somme de 2300€ pour 2 ans de rembourcement mon Email : naconncyHbill@paypal.com
    Merci

    • Staff
      ShirleySeptember 15, 2015Staff

      Hi Billa,

      Thanks for your question

      Please be mindful that finder.com.au is an Australian comparison service a – in most cases you’ll need to be an Australian resident to be eligible to apply online.

      Cheers,
      Shirley

  2. Default Gravatar
    suzanneAugust 10, 2015

    Can I send money to Nigeria for cash pick up ?

    • Staff
      MarcAugust 11, 2015Staff

      Hi Suzanne,
      thanks for the question.

      Paypal will only allow you to send money to another person’s Paypal account, rather than have cash pickup. We’ve written a guide on sending money to Nigeria which explains some of the services you can use to send your recipient cash.

      Cheers,
      Marc.

  3. Default Gravatar
    MaswoodJuly 22, 2015

    Hello All,

    I have a question.

    I wanted to know if I could use Paypal card reader in Australia with my Singaporean Business Paypal account ?

    • Staff
      BelindaJuly 23, 2015Staff

      Hi Maswood,

      Thanks for your enquiry.

      As long as you’re in the vicinity of Australia, you should be able to use the Paypal card reader with your Singaporean business account.

      If you have any further enquiries regarding this type of transfer, please get in touch with PayPal directly.

      Thanks,
      Belinda

  4. Default Gravatar
    tombeJuly 17, 2015

    Hi
    can you accept transfer money by Western Union to the PayPal through your services
    thank

    • Staff
      BelindaJuly 22, 2015Staff

      Hi Tombe,

      I’ve sent you an email to follow up with this enquiry.

      Thanks,
      Belinda

  5. Default Gravatar
    Jean-MarieMay 18, 2015

    Hi there,

    I am looking at ordering some products from a Chinese Supplier and I am in Australia. I am using them for the first time and I can order using their owner’s private paypal account. Is there any buyer protection that Paypal offer?

    Thanks

    Jean-Marie

    • Staff
      MarcMay 25, 2015Staff

      Hi Jean-Marie,
      thanks for the question.

      PayPal covers buyers for up to $20,000 in the event that your purchase doesn’t arrive or match the description given by the seller. This is extended to eligible items. They also protect buyer’s information from fraudulent theft of your payment information. I’ve emailed you more information about this policy.

      I hope this helps,
      Marc.

  6. Default Gravatar
    March 10, 2015

    J’ai besoin de 5000€ pour un appareil de travail Garrett ATX

    • Staff
      ShirleyMarch 11, 2015Staff

      Hi Billa,

      Thanks for your question.

      Please note that finder.com.au is an online comparison service and is not a product issuer. If you would like to discuss your eligibility or options, please get in touch with PayPal directly.

      Cheers,
      Shirley

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