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Hi everyone! I have two checking accounts at different banks between which I would like to transfer some money. If I transfer from one bank to another directly I would undoubtedly have to pay wire transfer fees on both sides. Now, I see that Paypal does not charge anything for transfers either in our out, so that sounds like a good option to me. But I am not sure whether the banks will charge me anything for this sort of transfer. I am not even sure exactly what kind of transfer is it when I transfer to/from paypal... Any input is appreciated.
As you cannot transfer from one bank account directly to another bank account, the work around would be to transfer from Bank Account A to your PayPal Account Balance, then you withdraw or transfer the money from your PayPal Account Balance to Bank Account B. Don't think that would be a problem with your Bank Accounts and there's no PayPal fees.