Explain Paypal please

I have a paypal account with my US bank account and we also have a paypal account with our UK bank account.
Every month I post a check in USD back to my US bank and when it clears I draw the cash out from an ATM (with fees) and deposit the cash into our UK account. After nearly five years this is getting costly. Can we use paypal to transfer funds from my US account to our UK account? And if so is there a charge?

Also I read on the the paypal site you can tranfer funds to anyone with an email address whether they have paypal or not. How does this work? My sister is coming in two weeks and I just mailed her a check which if lucky she will get by Monday. It would be so much easier if I could have paypalled it to her. But she doesnt have paypal

There is a fee to transfer from UK to US paypal accounts.  I just did £40  to my US account and I think the fee was about 1.70 or so.  Once the money is in your UK account, there's no fee to withdraw it to your UK bank account as long as it's more than £50.

If you PayPal your sister and she doesn't have an account, she'll just get an email saying that there's money waiting for her at PayPal.  She'll just follow a link to set up her own account.   

I do it too all the time.  Just don't ever do it with your credit card!  I did this once to Richard and they charged us £50!!!!  Oy!

Can we use paypal to transfer funds from my US account to our UK account? And if so is there a charge?

I've not tried it yet -- I NEED to tho- - I hate the banks here -- twice they've screwed up a bank transfer from my UK acct. to the US -- and when I called to complain they TRIED to turn it around on me -- but it didn't work - I had done everything right - and yet they couldn't get it right --- and when I said I wanted the bank charge reversed - they said they would take care of that -- over the phone -- but when my statement arrived -- bank charge!

There is a fee to transfer from UK to US paypal accounts.  I just did £40  to my US account and I think the fee was about 1.70 or so.  Once the money is in your UK account, there's no fee to withdraw it to your UK bank account as long as it's more than £50.

If you PayPal your sister and she doesn't have an account, she'll just get an email saying that there's money waiting for her at PayPal.  She'll just follow a link to set up her own account.   

What fees are there for transferring from a UK to a US paypal account? DH has now done 3 paypal transfers from his account to mine and there has never been a fee charged. Have we just been lucky or something?

If you PayPal your sister and she doesn't have an account, she'll just get an email saying that there's money waiting for her at PayPal.  She'll just follow a link to set up her own account.   

OK so she DOES indeed have to have a paypal account. Paypal is misleading in that respect as it states you can send money to anyone with an email address even if they dont have a Paypal account.

Also if there is a fee to transfer funds I guess Ill leave things as they are. I pay about £2 to withdrawl cash from the ATM anyway.

Every month I post a check in USD back to my US bank and when it clears I draw the cash out from an ATM (with fees) and deposit the cash into our UK account.


I probably have this wrong,so ignore me if I have,but if you recieve a cheque in USD whats to stop you paying it into your UK bank account?.

Dave

Every month I post a check in USD back to my US bank and when it clears I draw the cash out from an ATM (with fees) and deposit the cash into our UK account.


I probably have this wrong,so ignore me if I have,but if you recieve a cheque in USD whats to stop you paying it into your UK bank account?.

Dave

well we tried that once and it took nearly 8 weeks to clear! When I use the post it only takes about 8 days.

Hi there please find details that I have found on my Paypal account.

Options Processing Time Cost

Transfer funds to your bank account

Banks in the UK
Five to Seven Working Days   Free for £50.00 GBP or more, £0.25 GBP for £49.99 GBP or less
Banks in the US
Three to Four Working Days   Free for banks in the US

&&&&

Personal Account                               Premier/Business Account


Open an Account
Free                                                   Free

Send Money
Free                                                   Free

Withdraw Funds
Free for £50.00 GBP or more,            Free for £50.00 GBP or more,
£0.25 GBP for £49.99 GBP                 £0.25 GBP for £49.99 GBP
or less to bank accounts in the UK    or less to bank accounts in the UK
 
Add Funds
Free                                                   Free
 
Receive Funds
Free                                                   1.9% + £0.20 GBP to 3.4% + £0.20 GBP
Multiple Currency Transactions
Exchange rate includes a 2.5% fee* Exchange rate includes a 2.5% fee*

I hope this helps some of you, If not follows this link newcomer link: https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-fees-outside [nonactive]

Cheers
Leo

well we tried that once and it took nearly 8 weeks to clear! When I use the post it only takes about 8 days.

8 weeks?,yikes, according to my bank its "quick & easy"sounds like their idea of quick is different to mine.

http://www.hsbc.co.uk/1/2/personal/current-accounts/more/foreign-currency

Dave

well we tried that once and it took nearly 8 weeks to clear! When I use the post it only takes about 8 days.

8 weeks?,yikes, according to my bank its "quick & easy"sounds like their idea of quick is different to mine.

http://www.hsbc.co.uk/1/2/personal/current-accounts/more/foreign-currency

Dave

Thanks for that link Dave! Im gonna request info. Do you have a foreign currency account with them? How long does it usually take for a US check to clear? Its not a personal check Im talking about its a government check so I would hope it would clear quicker.
Im with Lloyds TSB now    Enough said!

Thanks for that link Dave! Im gonna request info. Do you have a foreign currency account with them? How long does it usually take for a US check to clear? Its not a personal check Im talking about its a government check so I would hope it would clear quicker.
Im with Lloyds TSB now    Enough said!

No,I don't have a foreign currency account with them,just a normal one so I can't help on the timeframe.Been with them 45 years (it was the Midland before),hope you have some success.

Dave

WHy didn't I read this before I did paypal? I just sent my dad £40 (from the UK to the US) through my credit card. Do they always charge a fee for using the credit card?? I am so broke I could cry!  :\\\'(

I've had one experience being a seller on eBay... using paypay, if someone sends you money via credit card you as the recipient have the decision to accept it (and the fee for accepting credit card payments) or you can deny payment.

I also had buyers paypal me no problem with no credit card fees... not sure how that happened since I've never sent payment through paypal, but I imagine they just wired it from their previously setup checking account instead of a Visa/MC/etc.

point is... as the recipient you do have the option to accept the CC fee or not.