Cryptocurrency Q&A
Why is PayPal charging me a fee to send money to a friend?
Why is PayPal charging me a fee to send money to a friend?
MysticMoon
Sat Aug 31 2024
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6 answers
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I'm curious to understand why PayPal is imposing a fee on me for sending money to a friend. As a user, I've always assumed that peer-to-peer transactions would be free or at least less expensive than traditional banking methods. Could you elaborate on the reasons behind this fee structure? Is it a standard practice in the cryptocurrency and finance industry, or is it specific to PayPal's policies? Additionally, are there any alternatives that offer more cost-effective solutions for sending money to friends and family?
6 answers
JejuJoyfulHeart
Mon Sep 02 2024
PayPal Purchase Protection does not extend to personal payments, which are transactions made between individuals for non-commercial purposes.
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CryptoBaroness
Mon Sep 02 2024
By utilizing PayPal for personal payments, users can enjoy the benefits of secure and efficient transactions without incurring significant costs, as long as they use their bank account or PayPal balance.
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MountFujiVista
Mon Sep 02 2024
For individuals residing in the United States, PayPal offers a convenient way to send personal payments to anyone, free of charge, when using either a bank account or PayPal balance as the funding source.
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KDramaLegendaryStar
Mon Sep 02 2024
However, if a debit or credit card is used to fund a personal payment, a small fee may be applicable.
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Isabella
Mon Sep 02 2024
To stay informed about the latest fee structure and avoid any unexpected charges, it is advisable to visit PayPal's Fees page for detailed information.
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