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  • What is the minimum amount transfer in Paypal to Bank account?

    Are you having a query regarding paypal? Want to know what is the minimum amount which can be transferred from paypal to any bank account? On this Ask Expert page find responses to your question.

    There was a different rule in Paypal to transfer the money from Paypal to Bank account. The minimum transfer was $1 and this seem changed right now.
    I would like to know what is the minimum amount transfer from Paypal to our bank account?
    How much Paypal deduct for each transaction as service fee?
    What is the Pros and Cons of using Paypal?
  • Answers

    6 Answers found.
  • Usually PayPal does not charge any fees when you transfer money from your PayPal balance to your bank account. Fee details for using service are as follows:
    1. Standard transfer from paypal account to linked bank account is free.
    2. For instant fund transfer to your eligible linked debit card or bank account there is a fee of 1% of amount transferred, with a maximum fee of $10.00.
    3. Instant Transfer Withdrawal Limits is also set for Debit Cards( Up to $5,000 per transaction/ day, up to $5,000 per week and up to $15,000 per month) and instant transfer withdrawal limits for Bank is up to $25,000 per transaction.
    While some banks may charge a fee for transfers. See the FAQs in help centre on
    4. Further, if you want to send money to friend or family from PayPal account who are also using PayPal account, transaction processing fee is waived off.
    But if it is funded by a credit card, debit card or PayPal Credit, then 2.9% of the amount funded and a fixed fee based on the transaction amount is charged.
    5. If you are transferring fund to other countries, ( in paypal account) transaction fee of 5% of the amount send up to maximum $4.99 will be charged.
    6. But if you are transferring amount other than PayPal account, a fee of 2.9% of the amount funded and a fixed fee based on the transaction amount will be charged in addition to transaction fee (5% of funded amount). For further details you can check
    Minimum Transfer Amount it $1.00.

    Now coming to the pros and cons of PayPal.

    Pros of using paypal account:
    1. It is a digital payment method. You can use it any where.
    2. It is secure payment method due to encryption feature, this protects customers data.
    3. It is easy to use.
    4. You can create a free account.
    5. You can manage easily transaction history.
    6. User friendly mobile app is also there.
    7. You can transfer money to friends and family free.
    8. Sometimes good offers are also there for loyal customers.

    1. Paypal can freeze account if detect some suspicious behaviour in an account.
    2. Sometimes when you transfer funds from your PayPal account to bank account, bank also require transaction fee.
    3.For business account PayPal charge fee on receiving payment in paypal account.

    Overall there are some cons of using paypal but still benefits are more and it is a safe and secure payment method.

  • The minimum amount you can transfer using paypal account is$1.00

    PayPal is a virtual bank account that can be used for transferring and receiving money. You may register your credit card and debit card with your PayPal account. You can transact in PayPal by, logging into your PayPal account, and confirming your payment. You can use this account for many purchases across the world.

    By having a Paypal account you can do all the following works.
    1. You can transfer money from your bank account to pay pal account and vice versa.
    2. You can deposit money in this account by taking cash advance from credit card
    3. You can transfer money from your PayPal account to the PayPal account of another person.
    4. You can transfer money from PayPal account to your savings bank account.
    5, They will send your information about your account balances via email.
    6, You can get a debit card and use for all your purchases from this card as long as you have money in your PayPal account.

    Advantages of having a PayPal account:

    1. Using this account buying and selling is very easy and very fast.
    2. Paypal is very good for paying the amount to many shopping online sites
    3. Very small volume sellers can also accept quickly and easily accept payments.
    4. The transfer will be instant from your account to sellers. It may take 24 hours if you want to transfer from your PayPal account to bank accounts
    5. PayPal is a fast and easy way to buy things online. Paypal is the preferred method of payment on many shopping websites, besides just eBay.
    Paypal offers these benefits:
    1. With a PayPal membership, even very small volume sellers can quickly and easily accept payments that originate from buyers' credit or debit cards.
    2.PayPal transfers between sellers are instant, and transfers from PayPal accounts to bank accounts can take as little as 24 hours.
    3. The fee to use Paypal is 30 cents per transaction, plus 3% of the total amount of the transaction.
    4. PayPal offers buyer guarantees
    5. Account Privacy Paypal is secure.

    PayPal may close your account if there is any doubt on your transactions through this account.

    always confident

  • DR. you are wrong in first answer. No more $1 transfer using Paypal to other bank a/c etc.

  • PayPal is an American company and is engaged in worldwide online money transfers and payments through electronic media. They have basically three types of operations one is something like credit card payment system and other is transfer of money between two entities and the last one is payment from many online companies to its workers working from home. The present query pertains to the third type.

    The minimum and maximum limits of payments under PayPal are $1 and $10000 for payments to and fro India. Generally the transaction fee charged by PayPal is 3 to 4 % of the transaction value. During promotions this fee changes slightly to a lesser value also. The catch here is that many banks will not receive small amounts in international transactions and will return it and then PayPal will charge a penalty of $3.5 to the account holder.

    Another thing is PayPal will not release the first payment to a online worker till the accumulated amount in PayPal account reaches at least $10. Only after that payments will be released. Subsequently there is no such limit.

    Knowledge is power.

  • The reason question was asked to get the latest update of Paypal. At the moment one can't manually transfer $1 to $9.99 from Paypal to your Bank account (if Balance $9.99 is available in our account). There are few changes / updates like this in Paypal.

  • The minimum amount to be transferred from pay pal to other Bank - account where your account exists has been revised from $1 to $10 effective from April 19.
    The process to be an account holder of PayPal requires the registration of the Debit - card or the Debit - card with the PayPal account. Now with the availability of the password, one can acess the existing balance in the PayPal account and if required you may request PayPal for crediting the permissible balance to your Bank - account. The other way is to make payment through the PayPal account for the purchases made by different consignments provided they are registered with the PayPal.
    The PayPal account holders can avail of the following facilities by being an account holder of the same-
    1) Transaction process becomes easy in both the cases withdrawal or the deposit from the Bank - account to PayPal account or the vice- versa.
    2) Even the Credit - card can be used for the withdrawal of cash and finally to deposited in the PayPal account.
    3) If required, the money existing in the Paypal can be transferred in the existing Bank - account with the permissible nominal charges by way of commission.
    4) The payment process is convenient between the two persons having the facility of PayPal account.
    5) One need not worry for the purchases from any bussiness houses such as Amazon, Flipcart etc. Even one can negotiate from the consignments located in foreign.
    6) You will be intimated regarding all your purchases made from PayPal through email.
    7) Transactions are safe and secured with the PayPal account.
    Advantages of having the PayPal account -
    1) Transaction is effected instantenously thus saving time during the process.
    2) On line purchase does not appear to be cumbersome with such a facility.
    3) It hardly matters even if a purchase of small amount is made but then with the existing process, it must not be less than $ 10.
    4) PayPal has wide coverage of the account holders making the process simple and hassle free.

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