4 ms·
When, or how, is a wire transfer cheaper than Paypal? In the US, wire transfers through banks tend to have fixed initiation costs on the order of $25-$35.
by irons 16y ago
When, or how, is a wire transfer cheaper than Paypal? In the US, wire transfers through banks tend to have fixed initiation costs on the order of $25-$35.
- gommm 16y agoYes but with Paypal between fees for changing currency (2.5%) and other fees it quickly adds up... Plus, you have to convert to a business account (additionally to having to send a lot of different documents to prove your identity) if the amount is more than 2800$ and then it's 3.5% fee. So yes internally in the US paypal is cheap but once you go cross border it's expensive and it's a headache
- tuacker 16y agoI can wire money to anyone within SEPA [1] (EU pretty much) without any fees. [1] http://en.wikipedia.org/wiki/Single_Euro_Payments_Area http://en.wikipedia.org/wiki/Single_Euro_Payments_Area