2013 update: now this process is simpler than what I describe below. Just select “I’m sending money to family or friends” and it will clearly tell you there is no fee.
Recently, PayPal introduced free money transfers – I find it a convenient way to send and recieve money. It’s fast.
In some cases, it’s free to “Send Money”. Sometimes there are fees. Here’s how it breaks down.
- Within the US (in USD): Personal transfers to friends and family
- Must be: Fully funded by PayPal balance or Bank account (not credit card)
see video with more details
see also: Send Money Free vs. Fees