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ok so I send regular money to my friend in the philippines... around $100 a fortnight. I send funded from my uk bank account, so I input the amount for him to receive in dollars, paypal handily shows me what that is in gbp that will be going out from my bank account, and I pay a fee of (using last payment example) 51 cents to send that $100. All fine, and been like that for months and months.
Just gone in today to send him $100, and paypal are now quoting a fee of £3.99 (around $5.33)... a jump of 1000% (10x the usual fee I pay)... anyone know what the big jump is for? It definitely says 'friends and family', and definitely funded from UK bank account... what am I missing?
ok so found the anser:
"We’re removing the variable rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States when you send money using PayPal balance or your bank account and introducing a new flat fee of $2.99 or $4.99 per transaction depending on the recipient’s country. However, when you send money using your credit card, debit card, or PayPal credit you will be charged the new flat fee per transaction depending on the recipient’s country + 2.9% of the transaction amount + a fixed fee based on the currency.
– We’re clarifying how we calculate transaction exchange rates where we perform a currency conversion."
so... want to send $100? that's a 5% fee... want to send £50? that's a 10% fee... want to send a simple $25? Thanks sucker, that's a 20% fee!