Can we avoid international money transfer fees by using Venmo or Paypal? - Personal Finance & Money Stack Exchange
International Wire Transfer: Paypal or Direct from Bank?
Is PayPal a good way to send international transfers outside the EU?
Was just about to send an international payment via PayPal until I remembered how they scam us with their brilliant exchange rates.
How do I transfer money internationally?
Are there fees to send money internationally with PayPal?
Is it secure to send money internationally with the PayPal app?
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I'm not aware of explicit fees for sending to someone in a different country, however I do believe there are fees for sending from one currency to another.
The best option here would be to contact the provider you're interested in using, directly, to request this information from them.
This is from Venmo help online:
Venmo is currently only supported within the U.S. If you try to sign in while abroad, you’ll likely get an error message. We will be able to further assist you with any login issues upon your return to the U.S.
From Forbes:
Venmo has three main requirements for using the app. You must: Be located in the U.S. Have a U.S. cell phone that can send and receive text messages using short codes; in the U.S., short codes are five- or six-digit numbers for texting Be at least 18 years old (in most cases)
This sounds as if Venmo is not supported in Turkey. From what I understand, Venmo is just creating an ACH transfer...though details are hard to find.
I am transferring US dollars from my bank in the US to an account in Nepalese rupees in Nepal. I recently found out you can use Paypal (technically Xoom, through Paypal) to wire money internationally. However, I noticed the currency conversion spread Paypal uses seems to me to be somewhat steep. If I recall, when I looked yesterday the average rate of Nepalese rupees to dollars was around 131/1, and Paypal was giving me something like 129/1, which would result in a loss of about $300 on a transfer of around $10,000. My question is, would it be any cheaper to go to the bank branch itself in the US and transfer it that way? What kind of currency spread to banks use when conducting international wires themselves?