Do your bank charge when you withdraw from paypal?
By thatsjvl
@jvincent_129 (4994)
Philippines
12 responses
@owlwings (43910)
• Cambridge, England
22 Jul 20
It varies from country to country. In the UK, the banks don't charge for receiving money from PayPal and nor are there any fees from PayPal if you have a Personal account (I believe that there are for Business accounts) BUT PayPal do have their own exchange rates which means you will get slightly less for a dollar converted to your currency than you might if you took your (physical) dollars to the bank and asked them to change them.
4 people like this
@cherriefic (10399)
• Philippines
23 Jul 20
PayPal will charge 50 pesos if it's under 7K. So its best to just save it for the meantime or get GCash so you can transfer it there for free.
2 people like this
@cherriefic (10399)
• Philippines
24 Jul 20
@jvincent_129 Yes it is. Then just transfer your GCash money to your local bank account.
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@youless (112481)
• Guangzhou, China
23 Jul 20
The Bank of China charges me a high fee if I need to withdraw money from my Paypal account. This is why in the past I went to Hong Kong and opened a bank account there. If my Paypal money is over HKD1000, then the withdraw fee will be free of charge. My city is near Hong Kong, so this is the best solution for me.
2 people like this
@youless (112481)
• Guangzhou, China
24 Jul 20
@jvincent_129 The rate is about 7.8, I guess.
1 person likes this
@jvincent_129 (4994)
• Philippines
22 Jul 20
Good for you. In the philippines i think there is a fee.
1 person likes this
@hereandthere (45645)
• Philippines
23 Jul 20
maybe you can let the money build up in paypal before transferring it to your bank. or use it to buy or pay something online instead of transferring to your bank. or use gcash.
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@hereandthere (45645)
• Philippines
24 Jul 20
@jvincent_129 i don't but i know several filipino mylotters do
1 person likes this
@ScribbledAdNauseum (104628)
• United States
22 Jul 20
We don't incur a fee here unless we choose to do instantaneous transfers. There usually is a small fee when exchanging currencies, but it shouldn't be much.
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@jvincent_129 (4994)
• Philippines
22 Jul 20
good for you. In the philippines i think there is a fee.
1 person likes this
@AkoPinay (11542)
• Philippines
23 Jul 20
@jvincent_129 @thelme55 there WAS a fee but the last time I withdraw last year no more fees.
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@almostoveryou (4726)
• Philippines
27 Jul 20
I get charged Php 50 for every Paypal withdrawal below 5k.
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@jvincent_129 (4994)
• Philippines
27 Jul 20
which is the normal fee to any bank, but bank charges too.
@almostoveryou (4726)
• Philippines
28 Jul 20
@jvincent_129 that's actually the bank charge, not PayPal's. Not sure if fees vary.
@RoshniMahasweta (309)
•
23 Jul 20
@jvincent_129 nope. I'm new in here. I never checked it
1 person likes this
