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Instant Tranfer Fees

Contributor

Instant Tranfer Fees

Did the instant transfer fees changed? I had been charged twenty-five cents per transfer. No biggie. When I went to transfer just now there was a 1% fee. There’s no way I’m paying $10 on a $1,000 transfer. Is this the new fee structure? I’m really bummed. I had loved the instant transfer option.
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3 REPLIES
New Community Member

Re: Instant Tranfer Fees

I am having the same issue.

 

I have vendors that do not take paypal and I went to transfer instantly this morning and boom 1 percent......?

 

Its already a pain waiting one business day. Doing that today means I cant pay vendor till monday now even though bill due sunday.

 

 

Contributor

Re: Instant Tranfer Fees

I just logged in to the app and received the notice that starting April 19th, all instant transfers have a 1% fee. I'm so disappointed. I used that instant transfer option every single day. I suppose if you are transferring $50 or $100 it's not such a big deal, but man, when you start transferring $1,000 or more it adds up. I hope the fee schedule gets reviewed, I'm really going to miss that 30 minute transfer option.

Member

Re: Instant Tranfer Fees

My average transfer is only $350 or so but I make them a few times a week. I was paying 25 cents each which I was happy to pay for the convenience. Then without warning I noticed it is now 1%! The difference between .25 and $3.50 is HUGE. On that transaction, it's what, 1,400% more?!? And with no notice or warning? Ridiculous!

 

After hunting around the PayPal site I found something that says personal PayPal accounts are .25 for instant transfers, but business accounts are 1%. Don't know if that has always been the case or not, but it wasn't the case with the PayPal app until the most recent update. 

 

This is a ridiculous fee that penalizes business owners. It takes no more effort to instant transfer from a personal or a business account. I've been a PayPal customer over 10 years and this is shameful and wrong.