How to send money via PayPal
PayPal is one of the largest digital money companies in the world, and it has millions of customers who use it to transfer their money around the world. Although very popular, you should take the time to review PayPal as a money transfer platform before you start using it to send money abroad, as there are a number of factors about PayPal that may or may not suit you.
In this blog we will analyse PayPal’s international money transfer features, and show you how to send money through PayPal, to help you decide whether it’s the right transfer service for you!
How do I send money via PayPal?
PayPal is an online service that is accessed via your web browser or through their smartphone app. You simply add a payment method to your account, add funds and then choose another PayPal account to pay.
How to send money from PayPal to a bank account
With PayPal you can also choose to send money directly to a bank account rather than another PayPal account. This is done via Xoom, PayPal’s money transfer service. You’ll usually have to pay fees for doing this.
Alternatively, you can send cash to your recipient’s bank or a money transfer pick-up point for a cash pick-up, which will also cost you money.
Here are some of the pros and cons of using PayPal for your money transfers:
Pros:
- PayPal is easy-to-use - it has a simple interface
- You can send money to over 130 countries, meaning that it has one of the largest global coverages
- You can choose how you want the money to be received, whether directly to a bank account or to be picked up as cash by your recipient
Cons:
- The fees can be higher than other transfer services for transfers to international bank accounts
- You can’t send money directly to a card, only a bank account
- PayPal can be more expensive if you pay with a credit/debit card rather than PayPal balance or bank account
- PayPal’s exchange rates may not be as good as with other money transfer providers
Are there fees to send money via PayPal?
Yes, there are fees to send money internationally with PayPal if you want to arrange a cash pick-up or to send to a bank account. The fees vary from country to country, and you should check the fees for your sending and receiving country. For example, if you want to send money from the UK to a bank account in Albania, it will cost you £6.99 as a transfer fee.
How long does it take for PayPal to send money?
PayPal is a fast money transfer service and your money should arrive within a few minutes, although sending money with PayPal can take much longer as there are extensive admin procedures, and the recipient’s payment institution may be slow.
Is there another option to PayPal?
When you send money to friends and family abroad, you want to reduce the fees as much as possible. The main factors that drive up the price are the exchange rate and transfer fees.
Paysend is a fast and simple money transfer platform that lets users send money directly to bank accounts or straight to cards - all you need is the recipient’s name and card number!
Money transfers to bank accounts with Paysend have zero transfer fees, and to cards cost just £1, €1.5 or $2 (or equivalent amount). Paysend uses excellent, competitive exchange rates, so if you send money with Paysend you might save yourself some money!
On the Paysend homepage you can find a useful tool to help you find out if your money transfers with Paysend are cheaper than with PayPal. Click here to visit the homepage and get started.
To get started, head to the App Store or Google Play and download the Paysend Global Transfers app!
Derniers messages
Here's the short answer: yes, you can use a credit card to get money into someone's bank account abroad. "Credit card to bank transfer" means exactly that — you fund the transfer with your credit card, and your recipient receives it in their bank account. Or on their card, in their wallet, or as cash to collect, depending on where they are.
The card and the bank account do different jobs. Your card pays for the transfer. A provider like Paysend then pays the money out through local systems on the other end. It's one flow, and it takes about a minute in the app.
One thing worth knowing before you start: a credit card is usually the most expensive way to fund a transfer. Some issuers treat it as a cash advance, and credit tends to carry higher payment fees than debit. You'll always see the full cost, exchange rate included, before you confirm anything. What follows is: the ways your money can arrive, what each one costs, how fast it gets there, and the cheaper routes worth checking first.
Chaque mois, des milliers de personnes travaillant en République tchèque envoient une partie de leur salaire chez elles — beaucoup sont des Ukrainiens qui soutiennent leur famille de l'autre côté de la frontière. Et la méthode traditionnelle complique ce qui devrait être simple : des virements bancaires qui exigent IBAN et codes SWIFT, des frais qui n'apparaissent qu'une fois l'argent parti, et des jours d'attente pendant que quelqu'un, chez soi, compte sur ce transfert.
Pavel Štich aide ses lecteurs à résoudre exactement ce problème depuis des années. Il est cofondateur et rédacteur en chef finance de Moneyo.cz, une plateforme tchèque indépendante qui compare les services de transfert d'argent, les courtiers en bourse et les investissements alternatifs — et Ambassadeur Paysend, ce qui signifie qu'il teste lui-même ce qu'il recommande, l'explique simplement, et fait bénéficier ses lecteurs d'avantages exclusifs. Nous lui avons demandé comment Moneyo a démarré, qui le lit, et pourquoi il a choisi Paysend.
