How the currency exchange rate works is that it will charge a percentage margin to the mid-market exchange rate, which is usually between 2.5 to 4%. Again, currency conversion fees also apply to that. Similar to the Hong Kong-based PayPal account, the Singapore-based one also charges an exchange rate according to the mid-market rate defined. If you’re withdrawing money more than that, then it would be free.įor easier budget-planning, use PayPal’s withdrawal fees calculator to check out all these withdrawal fees to your card. If you link your bank account to your Singapore-based PayPal account, the withdrawal fee would be SGD1 for withdrawing less than SGD200. Now, for PayPal users in Singapore, the standard withdrawal fee to a US bank account for a PayPal Singaporean merchant account is 3%. Say you have a Singapore-based PayPal account, you’ll have to pay 3.9% from the total transaction and a fixed fee of S$0.5.Īnd here’s your fixed fees we laid out for you if you’re doing international payments. The amount of money paid will be charged according to the volume of sales you have. Now, if you have a PayPal merchant account, there’s a standard fee you need to pay for.
#Paypal transaction fees free
PayPal fees for sending moneyĪs you might already know, it’s free to use PayPal to send money locally, but then if you want to send money to an overseas account using a different currency, then you might have to pay a few conversion fees.Įssentially, there are no basic fees charged for that however, the default currency conversion rate is set as 2.5%, but the fees may vary from 2.5 to 4%, depending on what currency you’re converting from.īut if you’re thinking about using PayPal to do personal payments, like paying back coffee money to a friend or chipping in for that wine money to a family member, unfortunately, that is not possible since PayPal only allows business-related payments/transactions in your account. Let’s take a look at, and break down Singapore Paypal Business Accounts fees and requirements. It’s easy to use, accessible, and user friendly. PayPal Singapore Business Account: Fees and RequirementsĪ Singapore Paypal Business Account is a nifty payment gateway for your business not just in Singapore, but in Asia too.
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