PayPal Australia has made a number of changes to its financial services guide, including adding a new $5.99 fee for overseas personal money transfers to a “friend and family member”.
If all or part of that transfer is covered by a credit or debit card, Aussies will also cop a 2.6% fee, plus a currency conversion fee. Before the updated terms, this fee was 2.4%.
It’s important to note that the new fees are incurred by Australian account holders sending money out of the country that doesn’t involve international commercial transactions.
And while it might be meant for sending your family some dosh when needed, it should be noted that some sellers request a “personal transaction” as opposed to a “goods and services” settlement when making a purchase.
Commercial transactions, however, will not incur any fees if there is no currency conversion required. So as long as you pay in Aussie dollary-doos, you won't be paying extra fees for buying something.
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