PayPal Instant Transfer Pricing Update

When I request funds from the rebate apps, I always transfer the funds into my PayPal account vice requesting an eGift card or check (Checkout 51) or direct deposit into my checking account (Savingstar) because it is super convenient.

However, recently, I went into look at the balance of my PayPal account and I had notification saying that they will add a 1% fee to do transfers beginning November 7th.  I transfer money from PayPal to my checking account so I’m assuming that they will now be charging me a fee to do it.

I did request a PayPal debit card to avoid the fees.

{ 7 comments }

  • jerimy October 18, 2018, 10:10

    well this flat out stinks. All because ebay is trying to do their own thing without paypal. Does the paypal debit card charge anything per month?

    • Ms. B. October 19, 2018, 08:41

      Jerimy, I decided to get the debit card for convenience and there shouldn’t be any monthly fee except if you do not have money in your account, it’s be like an overdraft fee. Back in the day when I was going to college, I bought my college books thru eBay and used PayPal to pay. PayPal used to be apart of eBay and then it got too big and separated. eBay should have not gotten rid of PayPal and keep all the money in the family.

  • Jennifer October 18, 2018, 11:40

    The new fee is for the instant transfers. They currently charge $0.25. I didn’t see any mention about charging for a standard transfer which is currently free. So, hopefully it stays that way.

    • Ms. B. October 19, 2018, 08:33

      When I request for my PayPal funds to be transferred to my banks…isn’t that an instant transfer? Or is it when I send my nephew money via PayPal? Honestly, I’ve been with PayPal from almost the beginning when they were still apart of eBay but I am more of a casual user of both eBay and PayPal. Give us the scoop, Jennifer!

      • Jennifer October 19, 2018, 08:58

        Not sure I have the scoop, but when I transfer money to my bank account, I get two options. The first option is an instant transfer that will go immediately to my debit card or something like that and costs $0.25. The second option is a standard transfer which takes 1-3 business days to get to my account and is free. I am guessing that this first option is what they are talking about when they say there will be an increase to a $1 fee. I think we will just have to wait and see.

        • Jennifer October 19, 2018, 08:59

          Sorry, I meant 1% fee, up to $10, not $1.

        • Ms. B. October 19, 2018, 13:57

          Interestingly, I think, I’ve only had the option for 1-3 business day…I’ve not been a hurry for the money so maybe I’ve been ignoring the other option?