PayPal is a popular online payment system that allows users to send and receive payments online. One of the convenient features of PayPal is the ability to withdraw funds from an ATM using a PayPal debit card. However, users should be aware that there are fees associated with withdrawing cash from an ATM using PayPal. In this article, we will explain the PayPal withdraw ATM fees in detail, including the types of fees, the fee amounts, and how to avoid them.
Types of PayPal Withdraw ATM Fees
There are two types of fees associated with withdrawing cash from an ATM using PayPal: domestic ATM fees and international ATM fees. Domestic ATM fees are charged when users withdraw cash from an ATM in their home country, while international ATM fees are charged when users withdraw cash from an ATM outside of their home country. Additionally, some ATMs may charge a surcharge fee, which is a fee charged by the ATM owner for using the ATM.
Domestic ATM Fees
The domestic ATM fee for PayPal is $1.50 per withdrawal. This fee is charged by PayPal and is deducted from the user’s PayPal balance. It’s worth noting that some ATMs may offer free withdrawals, but these ATMs are typically limited to specific bank networks, such as MoneyPass or Allpoint.
International ATM Fees
The international ATM fee for PayPal is $1.50 per withdrawal, plus a 1% currency conversion fee. This fee is charged by PayPal and is deducted from the user’s PayPal balance. The currency conversion fee is applied to the withdrawal amount and is calculated based on the current exchange rate.
Surcharge Fees
Some ATMs may charge a surcharge fee, which can range from 1 to 5 per withdrawal. This fee is charged by the ATM owner and is in addition to the domestic or international ATM fee charged by PayPal. Users can avoid surcharge fees by using ATMs that are part of the MoneyPass or Allpoint network, which offer surcharge-free withdrawals.
| Fee Type | Fee Amount |
|---|---|
| Domestic ATM Fee | $1.50 per withdrawal |
| International ATM Fee | $1.50 per withdrawal + 1% currency conversion fee |
| Surcharge Fee | $1 to $5 per withdrawal (varies by ATM owner) |
Avoiding PayPal Withdraw ATM Fees
While it’s not possible to completely avoid PayPal withdraw ATM fees, there are some strategies that users can use to minimize their fees. One way to avoid fees is to use ATMs that are part of the MoneyPass or Allpoint network, which offer surcharge-free withdrawals. Additionally, users can consider using a credit or debit card that offers no foreign transaction fees or ATM fees, such as the PayPal Cashback Mastercard.
Using a Fee-Free ATM Network
PayPal has partnered with several ATM networks, including MoneyPass and Allpoint, to offer surcharge-free withdrawals. These networks have thousands of ATMs located throughout the United States and internationally, making it easy for users to find a surcharge-free ATM. Users can use the PayPal app to find surcharge-free ATMs in their area.
Using a Fee-Free Credit or Debit Card
Another way to avoid PayPal withdraw ATM fees is to use a credit or debit card that offers no foreign transaction fees or ATM fees. The PayPal Cashback Mastercard, for example, offers 2% cash back on all purchases, with no foreign transaction fees or ATM fees. This card can be used for purchases and ATM withdrawals, making it a convenient option for users who need to access cash while traveling.
- Use ATMs that are part of the MoneyPass or Allpoint network to avoid surcharge fees
- Consider using a credit or debit card that offers no foreign transaction fees or ATM fees
- Use the PayPal app to find surcharge-free ATMs in your area
How much are PayPal withdraw ATM fees?
+PayPal withdraw ATM fees are $1.50 per withdrawal for domestic ATMs and $1.50 per withdrawal plus a 1% currency conversion fee for international ATMs. Some ATMs may also charge a surcharge fee, which can range from $1 to $5 per withdrawal.
Can I avoid PayPal withdraw ATM fees?
+While it's not possible to completely avoid PayPal withdraw ATM fees, users can minimize their fees by using ATMs that are part of the MoneyPass or Allpoint network, which offer surcharge-free withdrawals. Additionally, users can consider using a credit or debit card that offers no foreign transaction fees or ATM fees.
How do I find surcharge-free ATMs?
+Users can use the PayPal app to find surcharge-free ATMs in their area. Simply open the app, select the "ATM" option, and enter the user's location to find nearby surcharge-free ATMs.
In conclusion, PayPal withdraw ATM fees can be a significant expense for users who need to access cash while traveling. However, by understanding the types of fees, the fee amounts, and how to avoid them, users can minimize their fees and make the most of their PayPal account. By using surcharge-free ATMs, considering a fee-free credit or debit card, and using the PayPal app to find surcharge-free ATMs, users can avoid unnecessary fees and enjoy convenient access to their cash.
