sending money to South Korea - charges

[karlaboncompagn]

Hi there, 

I need to pay a suplier in south korea however they are saying that if I pay them via paypal they will have to add a charge 3.9%+$0.3 as transferring fee plus 2.5% exchange rate deduction. Is this nformation correct?

So if I'm paying a $ 1000 bill - how much Paypal will deduct from the moeny I'm sending? I thught I would be paying the charges not the recipient. 

Can someone confirm this info please? 

Many thanks 

Karla 

[lancelotme]

Your supplier wil end up paying the fee,thats why they are adding the fee to the invoice,30 cents transaction fee,3.9 % discount fee and the exchange rate.

You can compare this fee with the traditional method of bank wiretransfer.

Most banks have online wiretransfer service for small business,I just recently completed  wiring Japanese yen to my Japanese supplier using Bank of America wiretransfer feature.

Outgoing wiretransfer fee which I have to pay is $35,exchange rate is 0.9978.

My supplier also expects me to pick up the incoming wiretransfer fees for them,which involved 2 Japanese banks,which cost me a few thousand yens.

I dont know how South Korean bank handles foreign wiretranfer 

[DPCreations]

A seller can request the surcharge.  You either pay it or don't make the purchase.

The seller will have the charge from PayPal.  You would add the surcharge to the $1,000.

You also might want to consider NOT making the purchase to make sure it isn't high risk for loss.

[lancelotme]

are you sending US dollars or Korean Won?

If Korean won,they will not have any exchange rate fee,it is picked up on your end when you buy won with your US dollars.

Exchange rate fluctuates,there is also a bid and ask price. 

[sharpiemarker]

The recipient is not allowed per PayPal policy to charge a surcharge upfront for using PayPal to make a purchase as opposed to another payment method.

"3.4 No Surcharges.

You agree that you will not impose a surcharge or any other fee for accepting PayPal as a payment method. You may charge a handling fee in connection with the sale of goods or services, as long as the handling fee is not higher than the handling fee you charge for non-PayPal transactions."