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PayPal is one of the largest digital money companies in the world, with millions of customers using it to transfer money around the world. Although PayPal is very popular, you should take the time to consider PayPal as a money transfer platform before using it to send money abroad. There are a number of factors with PayPal that may or may not be suitable for you.<\/p>
In this blog, we\'ll analyse PayPal\'s international money transfer features and show you how to send money via PayPal to help you decide if it\'s the right money transfer service for you!<\/p>
How can I send money via PayPal?<\/h2>
PayPal is an online service that you can access via your web browser or smartphone app. You simply add a payment method to your account, provide funds and then select another PayPal account for payment.<\/p>
How to transfer money from PayPal to a bank account<\/h2>
With PayPal, you can also choose to transfer money directly to a bank account instead of another PayPal account. This is done via Xoom, PayPal\'s money transfer service. You will usually have to pay a fee for this.<\/p>
Alternatively, you can send cash to the recipient\'s bank or to a money transfer pick-up point for a cash pick-up, which will also incur costs.<\/p>
Below you can see some of the advantages and disadvantages of using PayPal for money transfers:<\/p>
Advantages:<\/h3>
PayPal is easy to use - the interface is straightforward<\/li>
You can send money to over 130 countries, meaning it offers one of the largest global reach<\/li>
You can choose how you want to receive the money, whether you want it transferred directly to a bank account or collected as cash by your recipient<\/li><\/ul>
Disadvantages:<\/h3>
Fees may be higher for transfers to international bank accounts than for other transfer services<\/li>
You cannot transfer money directly to a card, only to a bank account<\/li>
PayPal can be more expensive if you pay with a credit\/debit card instead of a PayPal balance or bank account<\/li>
PayPal\'s exchange rates may not be as favourable as other money transfer providers<\/li><\/ul>
Are there any fees for sending money via PayPal?<\/h2>
Yes, there are fees for sending money internationally with PayPal if you want to make a cash pickup or send it to a bank account. The fees vary from country to country. You should check the fees for your sending and receiving country. For example, if you want to transfer money from the UK to a bank account in Albania, it will cost you £6.99 in transfer fees. <\/p>
How long does PayPal take to send money?<\/h2>
PayPal is a fast money transfer service and your money should arrive within a few minutes. However, sending money with PayPal can take significantly longer as there are extensive administrative procedures and the recipient\'s payment institution may be slow.<\/p>
Is there an alternative to PayPal?<\/h2>
When you send money to friends or relatives abroad, you want to pay as few fees as possible. The main factors that drive up the price are the exchange rate and transfer fees.<\/p>
Paysend is a quick and easy money transfer platform that allows users to send money directly to bank accounts or directly to cards - all you need is the recipient\'s name and card number!<\/p>
Money transfers to bank accounts with Paysend cost zero transfer fees <\/span>and to cards only £1, €1.5 or $2 \(or equivalent\). Paysend uses very good, attractive exchange rates. Sending money with Paysend can save you money!<\/p>