New Paypal Fee is in operation already. We all use and love Paypal system to pay for products and services online. It is always quick, safe and reasonable in terms of pricing. But recently Paypal changed its fee policy and started charging $5.99 fee. As a reddit user from /Australia subreddit noticed, now Paypal has added $5.99 fee on international transfers to a “friend and family member. We all can find it out in a recent financial services guide, released earlier this month.
It means that as you make a personal transaction to a “friend or family member” abroad you will be charged with $5.99 every time. In case if you operate with a credit card, you will have to pay a currency conversion fee. This fee means plus 2.6 percent. Every time you use a credit card and you will have to pay a currency conversion fee plus 2.6 percent. That small percentage that PayPal takes has itself increased from 2.4 per cent.
Unfortunately, today Paypal transaction is not that cheap as it used to be. The new $5.99 fee is just a part a new Paypal Policy, that was published on April 5.
NOTE: The $5.99 fee is charged only to personal transactions sent abroad. This fee does not apply to transactions within United States or commercial transactions, which have their own transaction fees you can see spelled out here.
Also, people reaction on the Internet emerged immediately. As you can find out, there is much discussion about the new paypal fee on Reddit, Facebook and other social networks.
This April was full of events and news. As banking and traditional payment systems continue charging more and more money, bitcoin and altcoin are getting more and more attention from investors and traders.