Currency Conversion and International Wire Fee

[YYH93]

I want to transfer $125,000 from my bank in USA to PayPal, for PayPal to convert it into Israeli currency (Shekel) and to send it to an Israeli bank account. What fees are associated with the conversion and wiring to Israel? What percent deduction of the Market-Exchange-Rate from Dollar to Shekel does PayPal apply for buying the Shekel. In other words, in percentages from the Market-Exchange-Rate, what percent is PayPal's purchase fee, conversion fee, and wire fee does PayPal use? What are all the associated fees??

[sharpiemarker · Accepted solution]

@YYH93 

Use Xoom.com, a PayPal service to do this.

There is a fee calculator to display the fees and instructions about how to send, on this page:

https://www.xoom.com/israel/send-money

Please note:

Transaction fees may vary depending on:  

• Transaction type  
• Your payment method and what currency you pay with  
• The amount of the transaction 
• Which country the transaction is going to 
• Which currency you select for the other person to receive 

Transaction fee for  Sending  Money  
 
You can use the Fee Calculator to see specific transaction fees and exchange rates for the transactions you would like to send.   

Xoom’s exchange rates 
 
If your transaction involves converting your payment currency into a different currency, we will display our exchange rate to you. Our exchange rate includes a currency conversion spread.   

All currencies will be converted at the exchange rate displayed at the time of the transaction. Xoom’s exchange rates change regularly based on financial markets or the rates provided by Xoom’s local partners.  

[YYH93]

Thank you very much.

This is way most expensive than all other companies I checked on.

[YYH93]

Thanks a lot.

PayPal rate is much more expensive than most others