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Does Your Bank Charge You When You Withdraw Money From Paypal Into Your Bank Account?
#11
Nah, my bank doesn't do that. Paypal charges a fee for directly giving it to my debit card (which... is my bank account so I'm not really sure what the point is of that but whatever) which is $0.25 but otherwise, I haven't heard of a bank charging for having money deposited from Paypal or withdrawing to Paypal. I could see it happening though since the bank wants to hold your money versus having it taken out and given to another financial institution.
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#12
(01-16-2018, 07:36 AM)aecel Wrote: Yes, it's pretty normal that if you're gonna withdraw from atm you're gonna charge back but it depends on what card you're holding. If you don't want to have charge fees make a research that offers low transaction fees in different banks. Here in the Philippines, we can use a virtual debit card like Paymaya and G-cash. I'm using G-cash and when someone transfers amount of money in my Paypal account it has no transaction fees but if I'm gonna withdraw it from ATM it will have a charge fee and it wouldn't cost me that much I think it's lower than $1. Search for a virtual debit card if it's available to your country.

I will do. One question though: Can you use these virtual debit cards in shops or are they only usable online?

(01-16-2018, 05:39 PM)Setari Wrote: Nah, my bank doesn't do that. Paypal charges a fee for directly giving it to my debit card (which... is my bank account so I'm not really sure what the point is of that but whatever) which is $0.25 but otherwise, I haven't heard of a bank charging for having money deposited from Paypal or withdrawing to Paypal. I could see it happening though since the bank wants to hold your money versus having it taken out and given to another financial institution.

Interesting. PayPal doesn't charge me for withdrawing funds into my bank account, at least I haven't noticed such thing. Is it written somewhere in your PayPal account, I mean, how do you know they charge you?
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#13
Yes, i think it is normal. Most of the transfers from paypal charges $5 in regular. I hope you have access to Gcash because for me it is the best way to withdraw your funds from paypal. You can also avail a physical gcash card for you to be able to withdraw in ATM's with a minimal charge.
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#14
In the Philippines instead of transferring money from paypal to our bank account, We have this option called Gcash. it is an app money service from one of the big telephone company here. so you can receive and send money. It doesn't charge anything for transferring your money from paypal and it is available anywhere.
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#15
(01-15-2018, 09:43 PM)chikatilo Wrote: I recently registered at PayPal, because I was about to receive money and the transaction could only happen via PayPal. Anyways, I linked my bank account to my PayPal account. I received the money, it was a small amount and I decided to withdraw it into my bank account. To my big surprise, my bank had charged me a transaction fee worth $5!! This fee was half as much as the amount I'd received. I basically lost 50% of the money in bank fees. My bank's name is Allianz, it's part of the Allianz Insurance Group, which is one of the biggest automobile insurance companies in the world.


The fee I paid was fixed and the only thing I can think of is to wait until I have more money in PayPal and withdraw a bigger amount, so that next time I pay this fee only once. 

I would like to ask you, guys, is this normal? Does your bank charge you when you withdraw money from PayPal or when you get money into your account from somewhere else? If so, what is the charge? And does anybody know a way for these fees to be avoided
Will for me, I'm from Philippines, I received payments through PayPal $1 = 51 pesos, but when I withdraw my funds to my bank account $1 became 48 pesos, so it means when you withdraw funds they deducted for me 51 pesos they deducted 3 pesos for every 51 pesos or every $1.
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#16
First of, PayPal Debit/Credit card is ONLY available in US. Sad, but it's a fact. Well, if you are within the US territory you can simply order the card online and have it delivered in your door steps in a matter of 7 business days.

I have a small business and most of my monetary transactions were made through PayPal. Convenient it is that after your client posted a payment for you, it will automatically show as balance in your account. Very timely as well that an email notification will be sent out to you in a matter of split seconds only once money was posted. 

Now inline with the discussion, I would say that fees really depends on four (4) major factors:

1. The country you are in.
2. Your affiliated bank.
3. The amount of money to be withdrawn.
4. FOREX.

In our country, the minimal PayPal fee of 1 usd is being charged transferring your PayPal balance to your bank and additional 5 usd that the bank charges putting the money into your respective bank account. And this is for a minimum 100 usd transaction only. Now when the amount to be transferred is bigger than that then it will costs more. 

On a business perspective, we need to understand as well why there is/are transaction fee/s for doing so. Remember that PayPal is also spending a lot of money for their PBX or cloud base platform in order for us to use the service. Nothing is free in this world as they say. Cheers!
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#17
I've understood from many people that PayPal charges fees when you receive or withdraw money in/from your PayPal account. How surprised I was to learn this... Have a look at this screenshot:

[Image: paypal.png]

Does anybody know why PayPal doesn't charge me transaction fees? Do you get charged? Maybe it depends on what country you are from...?
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#18
I think yes, because they charge us for transactions fee and it depends how much you money or how much money you withdraw or how much money you send to your friends.

PayPal absolutely good in terms of transactions and PayPal absolutely good in terms of safety transactions so so you need to pay them.
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#19
(01-15-2018, 09:43 PM)chikatilo Wrote: I recently registered at PayPal, because I was about to receive money and the transaction could only happen via PayPal. Anyways, I linked my bank account to my PayPal account. I received the money, it was a small amount and I decided to withdraw it into my bank account. To my big surprise, my bank had charged me a transaction fee worth $5!! This fee was half as much as the amount I'd received. I basically lost 50% of the money in bank fees. My bank's name is Allianz, it's part of the Allianz Insurance Group, which is one of the biggest automobile insurance companies in the world.


The fee I paid was fixed and the only thing I can think of is to wait until I have more money in PayPal and withdraw a bigger amount, so that next time I pay this fee only once. 

I would like to ask you, guys, is this normal? Does your bank charge you when you withdraw money from PayPal or when you get money into your account from somewhere else? If so, what is the charge? And does anybody know a way for these fees to be avoided?

I think all banks do this, they always charge service fee for most of transactions they give its customers. I have had experience with such thing as I must confess that I wasn't pleased with how I was charged for such service. But the truth of the matter is that I don't have any choice or an alternative to this issue but only to endure with their useless banking running policies.
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#20
There's no fee to use PayPal to purchase goods or services. However, if you receive money for goods or services, the fee for each transaction is 2.9% plus $0.30 USD of the amount you receive.
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