Salecalc is an online calculator that lets people know the fee charged by fintech and e-commerce platforms. This includes PayPal, eBay, Amazon, and Etsy. Apart from knowing the exact amount a person should send to cover both conversion rates and transaction fees for each platform, it also provides how much a user can profit if they sell an item for a particular price. You can calculate the fees by going to the website and choosing what kind of platform you are using.
For this particular article, I want to focus on how Salecalc can help you calculate fees on PayPal. This fintech platform is a good alternative to buying things unavailable in your country. However, every time you are about to make a transaction, you will have to calculate the exact amount that you must send manually.
If a person wants to transfer money to another and wants to know how much they need to put in to cover the fees, they need to type the amount they intend on paying in Salecalc. The online calculator will calculate the users’ fees and provide the exact amount they need to transfer.
PayPal conversion and transaction fees
Every currency comes with a different exchange rate. Let’s say you need to pay $1,000 to someone living in France. The receiver will receive the amount in Euros. The fee charged by PayPal, as per Salecalc, will be $3.49+$0.49. If you want to make a payment of £1,000, the fee charged will be 2.9%+£0.30. The fee rates on PayPal are not uniform and change country-wise.
Understanding how it works
There are two ways to send money on PayPal. The first and the most secure payment method is “for goods and services” since PayPal will protect the transaction. You will also get a refund if the goods and services are not delivered, and the sellers will be charged an additional fee.
The second way is to pay under the “for friends and family” option, but it doesn’t come with PayPal’s purchase protection plan. If the user opts for a bank account transfer, no fee will be charged for domestic transfers to friends and family.
Let’s say you want to pay $100 to someone for their goods or services. In this case, using the goods and services option for a secure transaction at both ends is safer. If you enter the amount in Salecalc, you will see the amount that the person will receive, which includes PayPal’s fee and exchange rate if the transaction is international. In this case, the fee charged is 3.98% of the amount. So the person will receive $96.02.
If you click on the “To receive this…” option on the top right, you will see that the person will have to pay $104.12 for you to receive the amount of $100. Here, the fee is 3.96% of the total amount.
This is an estimate off of @salecalc I am on Managed Payments so the paypal rate is is close but not accurate. But Salecalc is close. I also have a premium Store, Free Insertion fees and Top Seller on some things. Plus variable rates on category. pic.twitter.com/SPlU7IX8os
— joshobrien77 (@joshobrien77) February 16, 2020
Steps in using the online calculator
If you are looking to use PayPal to transfer money and you want to check the rates with Salecalc, you can follow the steps below.
- Go to http://www.salecalc.com.
- Enter the amount that you want to send.
- Select the ‘PayPal’ tab.
- After selecting the tab, the page will reload into a new page showing the details of the fees. You will automatically see how much will be deducted from the money you send and how much will be received by the person on the other end.
- If you click on the “To receive this” tab, you’ll see how much you need to charge the person sending you money.
- Clicking the Start tab or the Reset button will allow you to start a new calculation. This will also have additional options that you might want to consider, such as the “Country or Region (currency)” and “Fee Rates” for domestic and international transactions.
YouTube: How to Calculate Paypal Fees
Photo credit: The feature image used is owned by PayPal and has been provided for press usage.