Why is my paypal fee so high? (upto 5.9%)
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I sell products and I am from the UK but my currency in my store is in USD. This is why I get paid out in USD instead of GBP and I get the money into my account normally. However, for some reason my PayPal fee is really high, sometimes its around 4% and sometimes its nearly 6%. Does anyone know why this happens and how to lower my transaction fee?
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You're in the UK so you are charged the UK account rates, not the US rates. US account rates are 2.9% + 30 cents domestic and 4.4% + 30 cents cross border.
UK is 3.4% + 20 p domestic and add the follow %'s for cross border: Northern Europe*: 0.4%, Europe I**: 0.5%, US/Canada: 1.0%, Europe II†: 1.3%, and Rest of world: 2%
* Northern Europe: Denmark, Faroe Islands, Finland (including Aland Islands), Greenland, Iceland, Norway, Sweden.
** Europe I: Austria, Belgium, Cyprus, Estonia, France (including French Guiana, Guadeloupe, Martinique, Reunion and Mayotte), Germany, Gibraltar, Greece, Ireland, Italy, Luxembourg, Malta, Monaco, Montenegro, Netherlands, Portugal, San Marino, Slovakia, Slovenia, Spain, United Kingdom (including Channel Islands and Isle of Man), Vatican City State.
Kudos & Solved are greatly appreciated. 🙂
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