PayPal Hong Kong International Transfers: Fees and rates explained

Joao Marcos

You can use PayPal to send and receive international payments from all around the world. However, there are fees for this service you’ll want to know about.

This guide walks through the costs of making an online money transfer with PayPal, including the upfront charge and currency conversion fee.

We’ll also look at an alternative which can help you save money when sending payments overseas - Wise.

How to send money abroad with PayPal, from Hong Kong?

You can make a payment through PayPal online or using the PayPal app. You’ll also be able to pay using a link if your recipient has sent one to you.

It’s worth noting that there are fees to pay when sending money to friends and family abroad with PayPal. You’ll pay an upfront fee, as well as a currency conversion cost. We’ll look at this in more detail later.

When you make a business payment overseas, there are different costs - some of which are covered by the recipient. Learn more about PayPal business fees and exchange rates, here.

Sending a PayPal international transfer online¹

  • Log into your PayPal account
  • Click on Send and receive
  • Enter the email address of the person you want to send money to
  • Follow online prompts to enter the amount and currency you’re sending in
  • Add a note to the recipient, check and hit Send payment now

Sending a PayPal international transfer using the PayPal app²

  • Tap on the icon to open the PayPal app
  • Hit Send, which is towards the bottom of the homepage
  • Enter the email address of your recipient
  • Confirm the amount and currency you’re sending in
  • Check the details and complete the payment

Sending a PayPal international transfer using

You can also make a payment if your recipient sends you their personal link. Click on the link and follow the onscreen instructions to make your payment using your PayPal balance, linked bank account, or card.

How can you fund your international PayPal transfer?

PayPal Hong Kong allows you to pay for your international transfer using your PayPal balance, credit or debit card, or by topping up your PayPal account with your linked bank account³.

Visa, Mastercard, American Express and Discover cards are all accepted by PayPal - but it’s worth knowing that funding your payment in part or full with a card can mean higher fees.

PayPal HK: fees and rates for International transfers

Before you send an international payment with PayPal, make sure you understand the costs involved. You’ll pay a fee for the transfer, and an extra charge if it is funded in part or full using a card. There’s also a markup on the exchange rate used.

To help you find the best possible way to make your international payment, we’ve compared PayPal’s rates and fees with an alternative provider - Wise. Here’s what you need to know⁴.

ProviderFeesExchange rate used
  • HK$38.99 if payment is funded using your PayPal balance or linked bank account
  • HK$38.99 + 3.4% + fixed fee based on currency if you pay using a card
  • Card issuers may also add their own fee
Mid-market exchange rate + 4% currency conversion fee
WiseSimple low fee based on the currency and amount being sentMid-market exchange rate

What is the exchange rate PayPal uses when you transfer money abroad?

If you send money overseas with PayPal, you’ll usually need currency conversion so your payment is made available to your recipient in their local currency. PayPal will carry out currency exchange for you - but you’ll need to pay a 4% Currency Conversion Fee on top of any other charges levied.

Here’s what PayPal says about currency conversion:

“Where a currency conversion is required, it will be completed at the transaction exchange rate we set for the relevant currency exchange. The transaction exchange rate is adjusted regularly and includes a Currency Conversion Fee applied and retained by us on a base exchange rate to form the rate applicable to your conversion.”

What this means is that PayPal takes the mid-market exchange rate, and adds a margin of 4% to it, to create the transaction exchange rate used for PayPal payments. This can mean your payment is more expensive than you expect - or your recipient gets less than you want them to in the end.

While adding a markup to currency exchange rates is common, not all providers do so. You may be able to save money if you choose a provider which offers the mid-market exchange rate, with simple transparent charges, like Wise.

Making or receiving international transfers? You could save more with Wise

PayPal offers simple convenient services - but the costs of sending and receiving international payments can be high. But PayPal isn’t the only way to make and receive digital payments. If you need to send or receive an international payment online you could be better off using a specialist service like Wise.

Join Wise now and start saving 💰

Wise payments are convenient, secure, and arrive quickly - with no exchange rate markup, and no hidden fees.

PayPal Hong Kong contact - How to get in touch

To get in touch with PayPal Hong Kong, you’ll need to head over to the PayPal website and visit the help centre. Here you’ll find a range of resources including FAQs and community solutions.

You’ll first be guided through these to try to find the answers to your questions independently. If you don’t see what you’re looking for, you can then send a secure message online to the PayPal team using the message template on the PayPal website⁵.

Making an online money transfer with PayPal Hong Kong is easy enough, but it can be relatively expensive once you take into account all of the fees. Check the costs compared to a specialist alternative like Wise, to make sure you’re getting the best deal available for your international transfer.

Sources used in the article:

  1. PayPal - How do I send money through PayPal?

  2. PayPal - How do I send payments from the PayPal app?

  3. PayPal - What payment methods can I use with PayPal?

  4. PayPal - Customer Agreement

  5. PayPal - Contact Us

Sources last checked on 14-September 2020.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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