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What are the fees for transferring money to / paying someone?

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jpaz1
Contributor
Posted on

I can't find a clear explanation of what are the fees for paying someone (a particular individual, not a company) or transferring money to a friend. 

 

A couple of days ago I transferred 200.00 Euros (or what I assume was that amount) to a friend via PayPal and for some reason he only received 188 Euros. On my end it says that I payed 200 euros but for him it says 188, so some sort of fee must've been charged. However, I can't seem to find accurate information about this. When I pay through PayPal in other situations, the company or business receives the exact amount taken from my bank account, unlike this time. This seems to be the only place I can ask this since there's no direct support chat, apparently. 

 

Thank you in advance! 

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What are the fees for transferring money to / paying someone?

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sharpiemarker
Esteemed Advisor

@jpaz1 


If sending
€200, the amount that will go to fees is €11.93 and the recipient will receive €188.07. That's 5.97% going to fees, effectively.

 

To receive €200, a payment of €212.66 should be sent. €12.66 will go to fees. That's 5.95% in fees, effectively.

 

Both calculations using Cross-border (int’l) fee rate of 5,79% + €0,35 (+3,3% from Latin America, APAC, Other countries) via goods and services option.


Kudos & Solved are greatly appreciated. 🙂

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Solved

What are the fees for transferring money to / paying someone?

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Go to solution
sharpiemarker
Esteemed Advisor

@jpaz1 


If sending
€200, the amount that will go to fees is €11.93 and the recipient will receive €188.07. That's 5.97% going to fees, effectively.

 

To receive €200, a payment of €212.66 should be sent. €12.66 will go to fees. That's 5.95% in fees, effectively.

 

Both calculations using Cross-border (int’l) fee rate of 5,79% + €0,35 (+3,3% from Latin America, APAC, Other countries) via goods and services option.


Kudos & Solved are greatly appreciated. 🙂

View solution in original post

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