Paypal Receiving Fees?

[Bazza]

It's been a while since I transferred any money between paypal accounts and I can't see anything on their help section that answers my question. Basically I want to send money from a verified premier account to another verified premier account. I know it wont cost the account sending the money anything but I'm worried a certain percentage will be removed from the total the recipient gets. It's quite a bit of money so I wanted to be sure paypal don't steal any more from me.

[vix]

The % of receiving fees depends on the value of the money being sent.

For me, as a verified permier member, I'm on a standard rate which means that if the value falls between £0.00 GBP-£1,500.00 GBP then the fee per transaction would be 3.4% + £0.20 GBP. So, if you sent me £100 then of that I'd receive £96.40 I think.

If you log into paypal and search 'receiving fees' it should give you similar results to what I've found.

[vix]

My apologies, I just realised the rate I looked at was for merchants.

Having looked at my recent history of fees paid on payments I've received the fee seems to be a rather scandalous 5.1% ...

[Bazza]

Cheers, guess it's a no for that option. The account I used in the past is linked to my dads bank account and I wanted to avoid withdrawing it to that but I'm not giving paypal 3.4% just for an inconvenience.

[chigley]

PayPal Fee Calculator

^ It's not failed me yet!

[Jon]

Just withdraw it to a bank account and transfer it that way, may be more hard work but paypal only charge 50p for a bank transfer and most banks will let you do transfers for free using online banking, or you can send a cheque

[Bazza]

Cheers, does it cost 50p to withdraw? I thought it was free. My dad doesn't have on line banking so I'll have to get him to withdraw it. There isn't a way of withdrawing to a different bank account than that linked with the paypal account is there?

[chigley]

Originally Posted by Bazza

Cheers, does it cost 50p to withdraw? I thought it was free. My dad doesn't have on line banking so I'll have to get him to withdraw it. There isn't a way of withdrawing to a different bank account than that linked with the paypal account is there?

Depends on the value. I think £50+ is free, but that is purely from memory.

[Sephora]

yup, amounts over £50 are free to withdrawl

[Opehelia]

I'm looking to set-up a paypal account. Does it work with any card?
As of now i have a pretty standard cash card, with no chip or pin, will this be accepted?

i'm taking it that this is how most of the transactions go down for the referal trades and conga's..

[psyfreak]

any debit card will do(maestro/delta/visa electron) cash cards don't.

[Opehelia]

looks like i will have to apply for a new card then, appreciated, thanks.

[-null-]

Do credit card not also work? And I think there is also the option of setting it up to take funds direct from your bank account but don't quote me on that.

[Opehelia]

hmm, ok i shall take a closer look, thanks guys.