When transacting on PayPal especially sending money to a local bank, there is some information you should know, such as transfer fees and what the exchange rate is after conversion.
First, we'll cover conversion rates at PayPal. Intrigued by the conversion price on PayPal? The most accurate and powerful way to find out is by looking directly at the funds transfer page.
The minimum requirements for a paypal account must have a balance, the steps are:
- On the main page i.e. Summary, click Transfer Funds
- After that, select a bank account or credit / debit card, then click Next
- Then enter the balance amount, it's free, but try $ 10, then tap Next
- On the Check Your Transfer page, in this section there is information on the exchange rates offered by PayPal.
Easy Examples to Calculate
- The calculation formula is: Exchange rate x 3%: 100 = The result must be reduced by the exchange rate
- Example: 13000 x 3: 100 = 390
- Results: 13000 - 390 = 12,610
Type Transfer Purchase:
Personal Transfer Type:
Paypal Transfer Fee
- PayPal charges fee for withdrawing funds of 1 USD from balance to bank where withdrawal was made. If the amount is less than 100 USD
- For withdrawals more than 100 USD from PayPal balance to bank, it's FREE
How do you know the transfer fee, right? I hope this information is helpful