If you have a look at most used online payment platform, you would see the PayPal among the top options. This platform has made it extremely easy to make transfers from one country to the other in a reliable manner. However, a lot of PayPal users do not know that a fee is charged on the transactions carried out. There are regulations according to which these charges are applied. Each country has a different percentage that has to be paid by the sender. For instance, if you are living in the US, you would be paying a specific percentage in the form of PayPal fee.
PayPal Fee in US
The sender has to pay the following sum in the form of PayPal fee when he is sending money through PayPal from US.
· 2.9% (amount to be sent)+$0.3
We can look at a proper example to calculate the PayPal fee. Consider that you want to send a sum of $100 from US. Here is what you would be paying as PayPal Fee.
2.9%(100) + 0.3
=2.9 + 0.3
PayPal Fee = 3.2
This amount would depend totally on the sum being transferred. The more you send via PayPal, the greater would be the fee sum. However, the fee formula mentioned above is for US. For other countries, senders should check the rates before executing the online transaction.
Accurate PayPal fee cannot be calculated manually
It is quite a shock when the PayPal fee charged is greater than what you calculated. Most people calculate this sum using pen and paper without using a calculation tool. This is not the best way to perform PayPal fee calculations. Using a PayPal free calculation is an option without any risk. Once the fee sum has been calculated through this tool, you can be sure that the same amount would be charged. This is because these tools use the correct calculation algorithm and fee percentage.
Using a PayPal fee calculator helps in saving time
There is no doubt that a user can make mistakes while calculating the PayPal fee. You need to be 100% correct to determine the sum without errors. If the percentage rate is not applied correctly or mistakes are made during the multiplication step, the value would be wrong. This problem can be avoided easily if Prepostseo PayPal fee calculator is used.
- If you have a look at the process of calculating this fee manually, it is quite cumbersome. First of all, you have to determine the percentage applied in the required country. The second step is entering the required values in the formula. Eventually, after spending all this time, the fee value would be produced. Manual calculations obviously require a final check so you would have to confirm the produced answer by checking all the steps completed.
A simple tool which is easy to use for everyone
Normally, people avoid technological tools because they do not want to go through complexity. If you are not tech savvy, using difficult tools seems an impossible task. However, this logic does not apply to PayPal calculators as they are very simple. Any user can use them without getting any assistance.
- With these calculators, you can determine the transaction fee instantly. To start with, you simply need to enter the amount that has to be transferred. The tool would scan and read that value. After that, the formula for calculating the PayPal fee would be applied to determine the payable sum. Now, if you compare this to doing this manually, a much smaller time span would be needed. This is an amazing tool if you wish to perform multiple transactions through PayPal. On an instant scale, the fee sum for each of them can be calculated.
Free usage for users
Why would you want to search for a paid tool when a quality option is available for free? PayPal fee calculators are usually free which is why users opt for it. It is stressful activity to use mathematical formulae and determine the PayPal fee. Apart from making errors, the procedure would exhaust you.
- To use a PayPal calculator, you do not have to invest immense concentration. There is no need to check whether the formula is being applied correctly or not. Simply locate a quality online calculator and get correct fee sums without tiring yourself.