PayPal Fees 1% to withdraw as of Nov. 7

[guarnieric]

How can I avoud this new 1% fee when I withdraw funds from PayPal to my bank account?

[kernowlass]

@guarnieric

I think the fee only applies to withdrawals to debit cards and not bank accounts.

[guarnieric]

Ok, that would be great, but they don't say that. The alert says, "On Nov. 7, Instant Transfers will cost 1% of the amount you transfer, with a maximum fee of $10.00. Use your eligible debit card for Instant Transfers. Transfer times vary by bank and may take up to 30 minutes."  So it advises you use your debit card for transfers, but doesn't say specifically that only depit card transfers will be charged...How could I find out difinitively before then? Can a person call PayPal?

[nevadasmith]

Instant transfer is using a debit card,you see the result in less than 30 minutes.

ACH is the old way via the Automated clearing house run by the Fed Reserve system,which is free but takes at least 1 day .

[sharpiemarker]

Additional info re: this fee:

Businesses were previously able to use Instant Transfer for .25 cents per transaction. Why is it now 1 percent?

PayPal is rolling out its Instant Transfer feature for customers who hold business accounts. Some business may have used the Instant Transfer feature for consumers, which has a fee of $0.25 per transaction, when it was rolled out last year.

Moving forward, PayPal has a new version of Instant Transfer for business accounts, which comes with a 1% fee that will be deducted from the Instant Transfer. Business accounts will have higher withdrawal limits, up to $50,000 per transaction or $100,000 per day, and up to $500,000 per month, whereas personal and premier accounts may only withdraw up to $5,000 per transaction or $5,000 per day and $15,000 per month.