HomeHow To Transfer Funds Between More Than 200 Different Countries With PayPal?

How To Transfer Funds Between More Than 200 Different Countries With PayPal?

Paypal lets you transfer cash between over 200 countries and 25 currencies, and might also aid you to reload a cell phone from somebody abroad. However, this is no free service, and you will need to part with cash for these types of transfers.

This transfer fee is five percent of the transfer amount, with the lowest charge of 99 cents and a highest charge of $4.99 if you will be transferring from your bank account or PayPal balance. For those that wish to use a debit or credit card to transfer cash, there are no restrictions on the fee, and you have to part with an additional 2.9% funding fee, and a fixed fee that varies according to the nation you are sending cash to.

How Can I Transfer Money Internationally With PayPal?

  • Head to paypal.com and get yourself logged into your account.
  • Tap “Send and Request” and then choose “More.”
  • Tap “Send Money” under “Send Money Abroad.”
Transfer Funds Countries PayPal
Photo credit- Business Insider

You Might Also Want To Read: How To Check Your PayPal Balance On Desktop Or Mobile?

  • Choose a nation from the drop-down menu and tap “Next.”
  • Choose how to deliver the funds from the list of options available in that nation.
  • If you wish to send cash to anyone who has no PayPal account, you will be redirected to the Xoom site, where you will adhere to on-screen instructions for the processing of your transfer. Xoom can also be used if you wish to pay international bills or reload a smartphone abroad. Xoom lets you send cash to your recipient physically, to their bank account or for pick up at a retailer.
  • If you prefer a PayPal-based transfer, type in the amount and currency for the transfer.
Transfer Funds Countries PayPal
Photo credit- Business Insider
  • For the users that opted for a PayPal-based transfer, they will see how much the recipient will get after fees and currency conversion. If you are sure it is the right amount, tap “Next.”
Transfer Funds Countries PayPal
Photo credit- Business Insider
  • Add the receiver’s phone no or email address, and then tap “Next.”
Transfer Funds Countries PayPal
Photo credit- Business Insider

You Might Also Want To Read: How Do I Link My PayPal Account To My eBay Account?

  • If the individual you are sending cash to is not in your contact book, include a note, your recipient’s name and the country he lives in, then ensure your transfer is reviewed and tap “Continue” when you are set.
  • Tap “Send Payment Now” to wrap up the transfer.

More Information About Paypal

PayPal Holdings Inc trading as PayPal, is an American company operating a worldwide online payments system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders. The company operates as a payment processor for online vendors, auction sites, and many other commercial users, for which it charges a fee in exchange for benefits such as one-click transactions and password memory. PayPal’s payment system, also called PayPal, is considered a type of payment rail.

Established in 1998 as Confinity, PayPal had its initial public offering in 2002, and became a wholly owned subsidiary of eBay later that year. eBay spun off PayPal in 2015. The company ranked 222nd on the 2018 Fortune 500 of the largest United States corporations by revenue.

At a 2019 World Economic Forum panel in Davos, founder Luke Nosek stated that PayPal’s initial mission was to “create a global currency that was independent of interference by these, you know, corrupt cartels of banks and governments that were debasing their currencies”. Nosek said this mission ultimately failed because of investor pressure to release a product as soon as possible.

PayPal was established in December 1998 as Confinity, a company that developed security software for handheld devices. PayPal was founded by six persons- Max Levchin, Peter Thiel, Luke Nosek, Ken Howery, Yu Pan and Russel Simmons. PayPal was developed and launched as a money transfer service at Confinity in 1999, funded by John Malloy from BlueRun Ventures.

As of 2019, PayPal operates in 202 markets and has 286 million active, registered accounts. PayPal allows customers to send, receive, and hold funds in 25 currencies worldwide.

author image

About Author

Samuel Afolabi is a lazy tech-savvy that loves writing almost all tech-related kinds of stuff. He is the Editor-in-Chief of TechVaz. You can connect with him socially :)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.