Do you know of the PayPal wire transfer feature? Well, a lot of PayPal users make use of the platform almost on a daily base, but still, they don’t know what a wire transfer is. In this article ‘PayPal wire transfer’ I will be breaking down for you what the PayPal wire transfer feature is all about. Therefore if you would love to know more about this PayPal feature all you need to do is to continue reading this post. But in order to get the full meaning and understanding of what the PayPal wire transfer is, you first need to know what the term wire transfer means as PayPal is a word on its own, and wire transfer also is a term on its own.
PayPal Wire Transfer
What is a wire transfer? According to a definition on Investopedia, wire transfer is an electronic transfer of funds via a network that is administered by various banks and transfer services platforms around the globe. Wire transfer in other words aids the transfer of money from individuals to other individuals or enterprises all over the globe via a financial institution (bank) or a money transfer platform electronically or via the internet. With wire transfer, the senders get to pay for a said transaction at the remitting bank, and also, he or she will provide the recipient’s bank account number, name and amount transferred. Wire transfers can also take up to two business days at least most of them.
With all the pieces of information about wire transfer just being shared, I bet you now have an idea s to what PayPal wire transfer is and what it entails. PayPal as you should have known by now is an international money transfer platform. This means that with this company and its services you can send and receive money from just about anywhere you are. The services of this platform can very much be likened to what a wire transfer is. In this article, however, I will guide you on how to wire or send money using PayPal.
PayPal Wire Transfer Limit
Sending money or funds using PayPal is easy, but just like most platforms like it, there is a limit to what you can send using the platform. If you have a PayPal account and the said account is verified, there is no limit to the total amount of money you can send from your account. If you wish, you can send up to $60, 000. But you may be limited to send only $10, 000 per transaction. But his may vary depending on your currency.
However on the other hand, if your account on the platform is unverified, there is a limit to what you can send from your account. For those users who don’t have a PayPal account, you can send a one-time payment of up to $4, 000. However, if you don’t have a PayPal account. And you also live outside the US, the amount you can send varies depending on your location and currency. To know your sending limit, check Here.
Just like explained in this article already, you can send money using PayPal if you have an account and also if you don’t have an account. On the other hand, if you already have an account on the platform, you will need to be logged in to enjoy the full benefits of sending money via PayPal. To login t your PayPal account,
- Go to PayPal.
- On the top right corner of the page, click on the login button.
- On the next page. Enter your email or mobile phone number, the one you created your account with, and click on next.
- Lastly, on the next page, enter your password and click on login.
You will be logged in to your account immediately. But if on the other hand, you don’t have an account, and you want to create one. You can click on the sign-up button and start with your account creation processes. After creating your account, you can now start sending money all over the globe like every other PayPal account holder.
Send Money With PayPal
Sending money with PayPal is easy, free, fast, and secure. To do this, follow the steps below;
- Login to your PayPal account.
- On your PayPal account page, click on pay or send money and select your reason for sending the money.
- On the next page, enter the recipient’s email address, name, or mobile phone number and click on continue.
- Enter the amount you want to send and click on continue.
- Select a payment method and that’s it. If you want to use PayPal credit. Set it to PayPal credit, confirm your payment details, and lastly, click on the send money now button.
When you send money with the PayPal credit feature in US dollar, you will be charged a flat rate of 2.9% for your transaction. You will also be charged $0. 30 per transaction at the end of your payment total.