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PayPal Raises Fast-Transfer Fees for Personal Accounts

PayPal Logo

PayPal LogoPayPal is raising one of its withdrawal fees for personal accounts. It costs nothing to withdraw funds to a linked bank account, and that won’t change. But PayPal also offers a faster way to withdraw using debit cards that currently costs 25 cents; “Instant Transfers” take up to 30 minutes instead of having to wait until the next day.

Beginning next month, PayPal will charge personal accountholders 1% of the transferred amount, with a maximum fee of $10, to do an Instant Transfer with an eligible linked debit card.

PayPal notified some sellers today, and you can read more about the policy change that takes effect on November 7, 2018 on this page.

PayPal also announced changes to its Venmo Acceptable Use and User Agreement, see Bloomberg’s coverage here.

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Ina Steiner
Ina Steiner
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.