Because currency conversion costs at major card providers can easily be just as steep as PayPal's, we recommend choosing PayPal's exchange rates unless you know that your card provider offers you favorable exchange rates. However, PayPal gives users the choice of whether to pay their own exchange rate fees or those of the card issuer. If you make a PayPal transfer from US dollars to Colombian pesos using a debit or credit card, you could be charged an exchange rate margin fee by your card issuer.

(The exchange rate margin for these types of payments is between 4.4% and 5.4% for transfers from the US to Colombia.) Other Fees to Anticipate However, if you're sending money from the US to a business or non-profit in Colombia or receiving payment using the 'Request Payment' tab, you'll be subject to a COP 3,500 fixed fee in addition to the exchange rate margin. If you're sending money to the PayPal account of somebody else in a different currency, you won't pay any fixed transaction fees over and above the exchange rate margin we explored above. PayPal's US to Colombia Foreign Transaction Fees In effect, this means that for every USD 1,000 you transfer to Colombia, PayPal will convert only around USD 966.50 of that amount into Colombian pesos at the true exchange rate. According to our own analysis of the exchange rate that PayPal displays on its pricing calculator for USD/COP transfers compared to the mid-market exchange rate, we found that PayPal's exchange rate margins are in the region of 3.35% of the transfer value. the one you see on Google) and the exchange rate that PayPal offers.Īccording to PayPal's fee schedule, these fees typically constitute a margin between 3.00% and 4.00% above the mid-market rate. In most cases, all fees PayPal will charge you when sending money from the US to Colombia will come in the form of the exchange rate margin, the difference between the mid-market exchange rate (i.e.

This is because of the highly variable, nontransparent fees and exchange rates that you'll be charged. All things considered, sending money from one PayPal account to another is one of the most expensive ways to transfer into a different currency.

Paypal exchange rate