PayPal Australia introduces a new $6 fee for overseas money transfers

PayPal Australia has made a number of changes to its financial services guide including the addition of a new fee of $ 5.99 for transfers of money abroad to a "friend and relative".

If all or part of that transfer is covered by a credit or debit card, Australians will also pay a 2.6% fee, plus a currency conversion fee. Before the updated terms, this rate was 2.4%.

It is important to note that the new fees are incurred by Australian account holders who send money out of the country that does not involve international business transactions.

And while you may be destined to send your family some dosh when necessary, it should be noted that some sellers request a "personal transaction" instead of a "goods and services" settlement when making a purchase.

Commercial transactions, however, will not incur any fees if currency conversion is not required. Therefore, as long as you pay in Australian dollars, you will not pay additional fees for buying something.

[ Via Reddit ]