Does PayPal require a fee? Is there an annual fee?

There are many credit card payment methods that can be used by cross-border e-commerce, but PayPal has the highest usage rate. It is not an exaggeration to say that it has monopolized credit card payment. Does PayPal require a handling fee?

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1. Does PayPal require an annual fee?

Starting from December 16, 2020, Paypal will charge an annual "inactive" account fee of 9 pounds (approximately RMB 78.7) to accounts that have not been logged in for at least one year but still have balances.

PayPal said that if a user has not used a PayPal account to make payments, receive payments or withdraw funds for a year or more, PayPal will consider the account to be "inactive." As long as the user logs into the account before the charge, PayPal will not charge the fee.

At the same time, PayPal will not charge accounts with zero balances but linked to credit or debit cards. PayPal said that the additional fees will only be deducted from the balance of "inactive" accounts, and will not be counted in the bank card or bank account linked to the account. If the user's account balance is less than 9 pounds, PayPal will directly deduct the entire balance.

It is reported that before charging fees, PayPal will remind users who have not logged in for a long time through email and phone.

2. PayPal payment process

1. Purchase from an online seller and select PayPal as your payment method at checkout

2. The page will jump to the PayPal login page

3. After logging in, the page will display the merchant information and transaction amount

4. Choose your payment method: PayPal balance, credit card, debit card or bank account

5. Select the currency you want to trade in and choose to use the exchange rate from your card issuer or PayPal

6. Check the payment details and click "Pay Now"

In summary, PayPal does require a handling fee. But if you use PayPal to pay, the money will be deducted directly from the card, and no handling fee will be charged. If you receive payment through the PayPal platform, you will need to pay a handling fee.