mattbutt

Just did a quick search to see if i could find this out as im sure it must have come up before.

Has anyone used pay pal to transfer money to themselves? Im pretty sure you are not supposed to do this but it seems all a little to easy to work the system?

If anyone has, how long does it take? and what were the ER's like? im interested in USD - GBP.

Im not interested in transfering massive sums but it will be on a fairly regular basis (few hundred bucks a month)

Rumplestiltskin

I considered it quite seriously and also considered it as a way to get a cash advance from a credit card without paying cash advance interest rates (21% compared to 2.3% for purchases!)

Then I read a lot of reports about how paypal has frozen money in peoples accounts and has even been able to withdraw money from their bank accounts... Apparently we agree to this when signing up for an account with them :-/

Because of this I went with straightforward wires from my UK bank which also worked out cheaper than using my UK debit card (Visa Delta through Abbey National) for 'cash advances'.

I was charged 45 quid to wire $15,000 which I consider very reasonable!

(wish I'd left it a bit longer before transferring btw 'cos I could have had another $1,200 from the exchange rate changes over the course of 5 weeks).

I have to say that I've not actually experienced anything bad with paypal personally and I use them regularly for eBay transactions both buying and selling... I just didn't want to take a chance with a large some of money. Also the fact that it would cost more in paypal commision to transfer through them.

HTH

mattbutt

I cant seem to find much on the commission side of things, is it a percentage?

Rumplestiltskin

Try this page