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Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!

Member

Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!

I like to get my overseas employer to pay my wage into my PayPal account, but in doing so I spare the employer the banking fees of an international transfer, but I have to pay a significant fee... What is the best way for an employer to pay me so I don't get those fees? Same in Australian, if I do some work for people and they use their banking app to transfer money to my bank or pay me cash, it is free, but if i accept PayPal I pay fees. Though I understand Paypal has to make money, it does discourage me a lot on a regular basis. Any ideas? Strategies?

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Volunteer Advisor

Re: Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!


@waltervp wrote:

I like to get my overseas employer to pay my wage into my PayPal account, but in doing so I spare the employer the banking fees of an international transfer, but I have to pay a significant fee... What is the best way for an employer to pay me so I don't get those fees? Same in Australian, if I do some work for people and they use their banking app to transfer money to my bank or pay me cash, it is free, but if i accept PayPal I pay fees. Though I understand Paypal has to make money, it does discourage me a lot on a regular basis. Any ideas? Strategies?


PayPal charges fees to the recipient as well as applicable currency conversion fees. You can have the employer send funds in AUD and send enough to cover the fees. You'll still pay them but after the fees the amount will be exactly what you agreed to. Use this calculator.


Kudos & problem resolved are greatly appreciated. 🙂
Member

Re: Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!

Yes, I understand the currency conversion percentage, of course. But from the calculator link, I need to ask my employer for $1,030.18 instead of $1000 🙂

When paying/receiving money PayPal always asks if it is for friends/goods&services/purchases, maybe 'wages' would be a good addition, with the distinction of wages being free of charges if done regularly. Perhaps the fees attracted to 'wage' payments might be (partially?) refunded after 3 consecutive regular payments?? This will attract employers and staff to use Paypal for wages (a significant amount of tra$$ic!!!), all of which will attract fees when spend in any case. I think it would behove PayPal to encourage wage payments, and give it a distinct category.

 

W

Volunteer Advisor

Re: Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!

you can convince your employer that saving them the wiretransfer fee but they have to pay paypal fee.

which ever is cheaper for them.let them choose. 

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Volunteer Advisor

Re: Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!

wiretransfer is not reversible unless the bank makes a mistake,and there is no item not as described ,not received or unauth transaction.

and there is no Paypal to withhold your payment  

Member

Re: Wage paid into my bank the employer pays fees, wage paid into my PayPal I pay!

Agreed, I much prefer PayPal for a lot of reasons, and agree also with employer having to pay charges. BUT if PayPal reduces wage fees than they'd encourage a lot more money into their system and thy make their money when we spend it eventually...