Paypal Money Transfer

[rockyracoon]

I've been talking to SIL in Ireland about christmas presents for the kid, I'm a bit loath to post anything over as

1, it's too expensive
2, I can't be bothered to buy presents
3, I can't be bothered to queue up in the post office

So, I suggested Paypal to do a money transfer. Is it as easy as it looks, I just add my bank details to my paypal account and she just opens an account and puts her details in? Anyone got any experience of using this service?

Thanks for any replies

[sherrardk]

I wouldn't bother with PayPal, I am sure they must charge you. Just do a standard transfer - do you do Internet banking? You can do it all in seconds and it doesn't cost anything.

[grasscarp]

Why not just transfer money bank to bank without involving paypal?

[boxtops]

I use PayPal in connection with eBay and I have used them to transfer funds outside of eBay too. It's easy - as long as the other person has a PayPal account and an email address.

If they are in S Ireland, whichever way you do it, there will be some sort of conversion fee.

However, sher's idea is best if you do internet banking, you can set up a one-off payment to your SIL using her bank details. I don't know whether you pay, or whether she'd pay when the transaction's converted to euros (for S Ireland). If they are in NI then there's no fee at all (not with my bank, anyway!)

[rockyracoon]

I would Sherr, but it's for Euros. Paypal said 3.4% plus 20p per transaction, seems quite cheap, too good to be true almost.

[rockyracoon]

How would I go about entering a S Ireland bank account details on my internet banking, would it accept it?

[boxtops]

Dunno which bank you are with, but when I look at my on-line banking, I've got a tab for DD and SOs, and another one for UK and international payments. You set it up there (or - you go into the branch and do it..)

That rate on PayPal's not bad, IMO. Since I send and receive international payments on PayPal re eBay, I don't find it difficult at all. You just need the recipient's email address.

[EDDIE51]

Yes, it is as easy as that and the cash is in her account instantaneously.
You can send and receive money from/to almost anywhere in the world instantly with PayPal. It now does a lot more than just pay for things on ebay.

[rockyracoon]

Hmmm just checked with the Halifax and it'll cost £9.50 per transaction regardless of amount but I'll have to get BIC and IBAC codes first. Sound like hassle to me plus a lot dearer than paypal. I'll check with our other account at Lloyds but I imagine they will be similar..

Thanks for your input ladies.

[rockyracoon]

It's definitely that easy then Eddie, she just opens a Paypal account, adds her bank details and I send the money?

[boxtops]

Yes!

[mrs_overall]

rocky ,yes, it is as easy as that!

PS how did you get on with the skirt alterations?

[ladyalex]

I use these folk
https://www.caxtonfx.com

It is easy to set up an account with them and they give very good exchange rates.
If you decide to go the money transfer route rather than Paypal, you will need the recipients' bank codes whichever bank or whatever you use...but you should be able to get them easily enough.

[rockyracoon]

Righto, thanks, I'll get her to register.

Thanks again.

Mrs O, I haven't bought them yet, just waiting for a spare few minutes to go down and get them, hopefully Thurs or Fri, I'll let let you know how I get on, though you'll more than likely hear the effing an jeffing lol.

[EDDIE51]

The only delay may be that PayPal need to confirm the bank account before you can transfer the cash from PayPal to the bank account. I have confirmed mine years ago so I can transfer PayPal cash instantly to my bank. You need to get her to set up the PayPal account so that they can confirm it really is her account so that there are no delays.

[rockyracoon]

Thanks Eddie, I'll get her to do it pronto.