PayPal international money transfers
Discover more about using PayPal to transfer money abroad.
PayPal is a well-known, digital payments company. Owned by eBay Inc., PayPal offers a fast and safe way to send money online.
|Product Name||PayPal International Money Transfers|
|Available Currencies||AUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, MYR, NOK, NZD, PHP, PLN, RUB, SEK, SGD, THB, TWD, USD|
PayPal is one of the most well-known ways to pay online and is particularly helpful for users who want an added layer of security when online shopping. While PayPal is a popular option for buying and selling online domestically, you can also use it to send money both domestically and internationally. However, if you are planning to send money to loved ones abroad, PayPal's international fees and weaker exchange rates may put you off.
How do PayPal international money transfers work?
PayPal works similar to a bank account, in that it allows you to send, receive and store money digitally. PayPal integrates with many online merchants to make shopping online more seamless and private, and users can see a full history of transactions in their PayPal account history. The company supports international money transfers to over 200 countries and you can process your transfer in a few working days.
Why should I consider PayPal international money transfers?
- Fast transfers to other PayPal users. Transfers direct from one PayPal account to another are almost always instant.
- Security. PayPal monitors all transactions for fraud, uses industry-standard encryption and has many dispute resolution options. Additionally, AI systems add to PayPal's resiliency against fraudulent transactions.
- Worldwide network. PayPal is available in more than 200 countries around the world, but you'll be limited to the 24 currencies that PayPal supports.
- Free domestic transfers. When sending domestically from one PayPal balance to another your transaction will be free if you send through the "Friends and Family" option.
What should I be aware of with PayPal?
- Expensive international transfers. You face a layer of fees that vary by method, amount and country. Many transfers to recipients outside Australia comes with fees based on your transfer amount in addition to a flat fee in the currency you're transferring to.
- Weak exchange rates. When sending money to foreign currencies you'll be forced to accept an exchange rate below the mid-market rate.
- Fees when using credit and debit cards. Expect yet more fees if your plan to fund your transaction with plastic, rather than your PayPal account or a linked bank account.
- Extra steps when receiving money. When someone pays you on PayPal you have to manually go into your account and request a bank payout — further increasing the time it takes for that money to hit your bank account.
How much are PayPal's international fees?
PayPal international fees depend on where you're sending money to, how you're sending it and how you plan to fund it. For international deliveries, you face layers of fees that include flat rates and percentages of your transaction amount. PayPal does not have any hidden fees, but its fee structure is complex, to say the least. When using PayPal, pay close attention to fees and exchange rates to avoid feeling like hidden fees have snuck up on you.
PayPal fees in AUD
The following fees apply when sending money to friends and family from Australia.
|Funding method||Destination country||Fees|
|PayPal balance or linked bank account||Australia||$0|
|Credit card or debit card||Australia||2.6% of transaction amount + $0.30|
|PayPal balance or linked bank account||Any other country||5% of the transaction ($0.99 min, $5.99 max)|
|Credit card or debit card||Any other country||5% of the transaction ($0.99 min, $5.99 max) + 2.6% of the transaction amount paid using a card + a fixed fee based on currency|
Fixed fee based on currency
Part of the fees you will need to pay are the fixed fee which varies based on currency. Here's the breakdown of PayPal's current fees as of May 9, 2022.
|Australian dollar||0.30 AUD|
|Brazilian real||0.60 BRL|
|Canadian dollar||0.30 CAD|
|Czech koruna||10 CZK|
|Danish krone||2.60 DKK|
|Hong Kong dollar||2.35 HKD|
|Hungarian forint||90 HUF|
|Israeli shekel||1.20 ILS|
|Japanese yen||40 JPY|
|Malaysian ringgit||2.00 MYR|
|Mexican peso||4.00 MXN|
|New Zealand dollar||0.45 NZD|
|Norwegian krone||2.80 NOK|
|Philippine peso||15 PHP|
|Polish zloty||1.35 PLN|
|Russian ruble||10 RUB|
|Singapore dollar||0.50 SGD|
|Swedish krona||3.25 SEK|
|Swiss franc||0.55 CHF|
|Taiwan new dollar||10 TWD|
|Thai baht||11 THB|
|UK pounds sterling||0.20 GBP|
|US dollar||0.30 USD|
How are PayPal's exchange rates?
If a transaction requires a currency conversion, it will be done automatically and at a fee of 3% or 4% of the total transaction amount, in the form of above mid-market exchange rates.
Converting currencies within your own account will incur a 3% conversion fee, while all other transactions that involve a currency conversion, including sending money, will be done at 4% above mid-market rates.
Compare PayPal to other money transfer services
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How to use PayPal
One of the most popular uses for PayPal is to send and receive money online. Whether you're sending this money to businesses or friends, the process is similar. In general, you'll have to create your PayPal account, add money to it and then choose who to send the money to.
Creating a PayPal account
Creating a PayPal account can be done for free and with little verification needed. To begin, follow these steps.
Adding money to PayPal
You don't need to add money to your PayPal account to use it. Instead, you can simply link a bank account or card. But if you do want to add money to your PayPal wallet, then follow these steps:
- Go to Wallet.
- Click Transfer money.
- Click Add money to your balance.
- Follow the on-screen steps to complete the transfer.
Transfers into your PayPal balance typically take 3-5 business days and incur no PayPal fees. However, it is always worth double checking with your bank account beforehand to make sure your bank won't charge any fees.
Sending money through PayPal
Money can be sent both domestically and internationally with PayPal. Different fees may apply depending on who you are transferring to, the purpose of the transfer and what country your recipient lives in. In general, you will need to follow these steps:
- Log in to your account and click Send & Request.
- Enter your recipient's phone number or email address.
- Select the purpose of the transfer - you can choose from Sending to a friend and Paying for an item or a service.
- Enter the amount you want to send.
- Review and confirm your transfer information and click Send Money Now.
Receiving money through PayPal
Money can be sent to your PayPal account through your connected email address or mobile number, so be sure you provide the person paying you with the correct information.
- PayPal will send you an email, a text message or both to let you know there is money in your account.
- You can spend money directly from your PayPal account or make a withdrawal to your linked bank account.
- To transfer to your bank account, click the Transfer to your bank button after you accept the money.
Is PayPal safe?
PayPal takes many measures to keep your money and transactions safe and secure, but how you use PayPal still factors into whether or not it is safe for you to use. PayPal helps keep you and your money safe by:
- Protecting your sensitive information. PayPal doesn't share your full financial information with sellers, which may help protect you from identity theft.
- Monitoring transactions 24/7. Both humans and algorithms monitor PayPal transactions to spot fraud.
- Encrypting your data. PayPal uses bank-level encryption, including SSL 3.0 with an encryption key length of 168 bits.
- Offering fraud prevention. PayPal will never contact you asking for sensitive information by email or telephone — always contact PayPal if anything about your account history seems suspicious.
- Providing dispute resolution. PayPal will help resolve disputes between buyers and sellers when PayPal is used as the payment method.
Is there a PayPal app?
- Send money to loved ones. Send money within Australia using your PayPal balance or bank account for free.
- Log in using biometrics. Both face and fingerprint recognition can be used to log in.
- Send money around the world. Send money internationally through PayPal.
PayPal app reviews
|Reviews accurate as of May 10, 2022|
|Google Play Store||4.4 out of 5, based on 2,557,343 customer reviews|
|Apple App Store||4.8 out of 5, based on 175k customer reviews|
Frequently asked questions
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