Is PayPal raising fees for instant transfers on personal accounts under $5000

[Bethnrobert]

I got a message on my account saying that, I thought, and it would start this Nov. 1st.

[nevadasmith]

I think it is Nov 7 or 8th,if you use a debit card for quicker transfer,if you want the old way of ACH,no fee

[Mjuarez]

I've looked everywhere. Could someone please tell me what a instant transfer is?

[nevadasmith]

if you link a debit card and use it to transfer money,it takes no more than 30 minutes instead of days and you pay a fee.

1% or $10 max 

[kernowlass]

@Bethnrobert

@Mjuarez

In the past if you funded your paypal payment via a bank account and had a back up card linked to your paypal account then paypal would credit the seller upfront for you and paypal would take the wait for the funds to process through to them to pay them back again.....thats why it was called instant transfer.

It used to be a free service but now they are charging so to stop that happening pay via a card instead.

[nevadasmith]

what you describe is Instant payment,not instant transfer.

iNSTANT PAYMENT IS FREe BUT IF Paypal tries to debit your bank account and find there is not enough money,it wil debit your credit card instead.

if this happens too many times,it could delink your bank account as it is not reliable

[kernowlass]

@nevadasmith

No what i described is an instant transfer.................

What's an Instant Transfer and how does it work?

An Instant Transfer is a way to send money or make a payment from your bank account instantly using PayPal. The seller is credited immediately while our request for the money from your bank is processing. You need to have a confirmed U.S. bank account and a backup funding source such as a credit card or debit card registered on your PayPal account to complete an Instant Transfer. If your bank declines your transfer the first time, we will try to retrieve the money a second time. If the second attempt also fails, the Instant Transfer is charged to the backup credit or debit card used for the payment.

[nevadasmith]

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@kernowlass wrote:

@nevadasmith

No what i described is an instant transfer.................

What's an Instant Transfer and how does it work?

An Instant Transfer is a way to send money or make a payment from your bank account instantly using PayPal. The seller is credited immediately while our request for the money from your bank is processing. You need to have a confirmed U.S. bank account and a backup funding source such as a credit card or debit card registered on your PayPal account to complete an Instant Transfer. If your bank declines your transfer the first time, we will try to retrieve the money a second time. If the second attempt also fails, the Instant Transfer is charged to the backup credit or debit card used for the payment.

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wait a minute,thats instant payment,like I pay my seller with bank account,as long as I have a credit card linked,seller gets the money fronted by Paypal instantly and Paypal gets the money from my bank account days later.

that's not instant transfer,it is a payment and buyer incurs no fee like 1% or 10.

what everyone Is griping is instant transfer where yo use a debit card to transfer money faster from you paypal account to your bank account and fee is 1% or $10 max,it is faster ,like 30 minutes or less.

if what you quoted is correct,then every time we pay someone ,Paypal front the money and paypal will charge us 1% ,that's not so.

[nevadasmith]

Ker,

the way I see this instant transfer is more for professional retailers who need to transfer sales proceeds faster as they need them as working capital,if you look at how much they can transfer by day and by month,it is large amount as much as 1/2 million in a month.

that 1% kind of pay Paypal for whatever risk there is transfeering 5k,10k,25k at a time.

[nevadasmith]

here,from paypal site-

If you are a U.S. PayPal account holder, you can transfer money out of your balance in two ways.* Transfers made using your linked bank account are always free and are usually deposited the next business day.** Now, with Instant Transfer, for a low fee you can transfer funds to your bank account even faster using your eligible debit card. Transfers using a debit card are typically completed in minutes. *** You can choose between your linked bank account(s) and any eligible debit cards when you make a transfer. Eligible debit cards include Visa and MasterCard debit that participate in Instant Transfers. Participation of these cards is driven by the card issuer.

Free

$0.25 per transfer****

Instant Transfer Withdrawal Limits for Personal Accounts

• Up to $5,000 per transaction
• Up to $5,000 per day
• Up to $5,000 per week
• Up to $15,000 per month