PayPal is currently the world's largest ** payment platform, cross-border buyers and online dealers can receive and remit money through PayPal, which can be compared to domestic Alipay. PayPal supports multiple currencies, even if the payment is made, it arrives instantly, which solves the problem of foreign currency collection and facilitates more users to expand overseas business. But now PayPal directly withdraws money to domestic bank cards often face the following problems:
1.PayPal is prone to payment failures, only a small number of domestic banks accept foreign currency, and only some savings cards can store foreign currency.
2.The withdrawal period takes 3-7 working days, and it is easy to be returned to the original method.
3.PayPal charges a handling fee of $35 for a single withdrawal, even if the bank refuses to accept it. Different banks will charge different percentages of fees, and there may be exchange losses in exchange rate conversion.
4.When the money is remitted to the bank, a series of procedures such as proof of income and proof of foreign currency** are required.
5.There is a foreign exchange quota of 50,000 US dollars per year.
If you want to avoid the above matters, you can choose a third-party platform for PayPal withdrawal, such as windpayer, payoneer, etc.
1.WindPayer: The initial handling fee is 1%, and the subsequent fee will be reduced according to the flow ladder. Support individuals and businesses to make PayPal withdrawals. WindPayer currently supports PayPal withdrawals in China, the United States, and Hong Kong. The withdrawal period is 2-7 working days, and the settlement time is about 1 working day. Real-time exchange rates, refer to the official Bank of China exchange rate.
2.Payoneer: Official fee 12%, the handling fee for small withdrawals is lower. Payoneer supports PayPal withdrawals for individuals and businesses. Payoneer currently supports withdrawals in the United States, Europe, Hong Kong, and other regions, but does not support withdrawals in Chinese mainland. Withdrawals must be made on working days, and the exchange rate refers to the BOC spot exchange rate**.
For various problems that are easy to arise when withdrawing cash directly on PayPal, it is more recommended that small and medium-sized sellers choose a third-party platform for withdrawal, which can effectively reduce operating costs. The above is all about how to withdraw PayPal, if you have other settlement questions, you can communicate with each other in the comment area