Do your bank charge when you withdraw from paypal?

Philippines
July 22, 2020 1:14pm CST
We have just received payout just a while ago, I was wondering if your banks charge fees when transferring from paypal, because if there is then not much of $5 will be left.
8 people like this
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
• Philippines
22 Jul 20
Where does paypal follow the conversion?
• Kenya
22 Jul 20
I think in kenya there is a fee
2 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
• Philippines
23 Jul 20
ow paypal to gcash is free?
@cherriefic (10399)
• Philippines
24 Jul 20
@jvincent_129 Yes it is. Then just transfer your GCash money to your local bank account.
2 people like this
• Philippines
24 Jul 20
@cherriefic perfect.
1 person likes this
@youless (112507)
• 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 (112507)
• Guangzhou, China
24 Jul 20
@jvincent_129 The rate is about 7.8, I guess.
1 person likes this
• Philippines
23 Jul 20
HKD 1000 is still a lot to keep?
1 person likes this
@dodo19 (47317)
• Beaconsfield, Quebec
22 Jul 20
It doesn't usually cost me anything. I can transfer from paypal to my account and that's that.
2 people like this
• 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.
2 people like this
• Philippines
23 Jul 20
Do you use gcash?
• Philippines
24 Jul 20
@jvincent_129 i don't but i know several filipino mylotters do
1 person likes this
• 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.
2 people like this
• Philippines
22 Jul 20
I think i get it , US bank have less fees from paypal.
@thelme55 (77081)
• Germany
22 Jul 20
No, we donĀ“t pay a charge for transferring money from Paypal to our bank.
1 person likes this
• 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.
2 people like this
@thelme55 (77081)
• Germany
22 Jul 20
@jvincent_129 Really? I have no idea. Thanks for the info.
• Philippines
27 Jul 20
I get charged Php 50 for every Paypal withdrawal below 5k.
1 person likes this
• Philippines
27 Jul 20
which is the normal fee to any bank, but bank charges too.
• Philippines
28 Jul 20
@jvincent_129 that's actually the bank charge, not PayPal's. Not sure if fees vary.
@CarolDM (203422)
• Nashville, Tennessee
22 Jul 20
Depends on where you are, and your bank policies.
2 people like this
@sophie09 (34236)
• Indonesia
22 Jul 20
I think yes. So i dont fully receive ny payment
1 person likes this
22 Jul 20
I didn't withdraw any still now
1 person likes this
• Philippines
23 Jul 20
didnt withdraw any from mylot?
1 person likes this
23 Jul 20
@jvincent_129 nope. I'm new in here. I never checked it
1 person likes this
24 Jul 20
in ph if it is 10k above..there is no fee
1 person likes this
• Philippines
24 Jul 20
thanks for the information.