PayPal Australia introduces a new $6 fee for overseas money transfers

News
By Sharmishta Sarkar
published

And increases its processing fee for credit card transactions

PayPal

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.

[Via Reddit]

Sharmishta Sarkar
Sharmishta Sarkar
Managing Editor (APAC)

Sharmishta is TechRadar's APAC Managing Editor and loves all things photography, something she discovered while chasing monkeys in the wilds of India (she studied to be a primatologist but has since left monkey business behind). While she's happiest with a camera in her hand, she's also an avid reader and has become a passionate proponent of ereaders, having appeared on Singaporean radio to talk about the convenience of these underrated devices. When she's not testing camera kits or the latest in e-paper tablets, she's discovering the joys and foibles of smart home gizmos. She's also the Australian Managing Editor of Digital Camera World and, if that wasn't enough, she contributes to T3 and Tom's Guide, while also working on two of Future's photography print magazines Down Under.