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 receive 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)
I’ve highlighted the 4 areas to edit to use “personal transfer”
The confirmation page will show you “$0” fee
see video with more details
see also: Send Money Free vs. Fees
7 Comments
Ari,
Thanks for the post. I find PayPal complicates things more than they need to, like all the things they stick under “More” in the profilel drop down. It’s always great to learn a new trick to save a little money.
If it’s not within the US, is it still free?
I don’t think personal payments are free if they involve a currency conversion. A quick search at PayPal didn’t turn up a definitive answer so please leave a comment if you find out more.
In China,the paypal is very expensive,we have to pay 4% fee.
Paypal:
To send money with paypal is free, but the recipiant have to pay 4,2% plus 0,30US
I have found that this is not the case if both parties avoid using credit cards and use ‘personal transfers’ even internationally.
An old but evergreen article.
An awesome piece of content!