A friend from Russia will transfer an amount less than $1,000 to my US account. What's the cheapest way (lowest fee) to do it?
I understand that the fees for international transfers would follow the below guidelines, but I don't know who pays (sender or receiver) the amount and which percentage is applied. I guess the fee will be deducted from the amount the sender transfers.
- 0.5% to 3.3% (cross-border transaction fee) for direct debit from a PayPal account or a bank account linked to Paypal
- 3.9% to 7.4% (cross-border transaction fee) for debit or credit card, PLUS fixed fee (estimated at $0.30 equivalent), PLUS currency conversion.
I would appreciate it if anyone can clarify the exact calculation method!
Thank you!
