Exchange rate for payment, which is usually less favourable, so you may want to switch to paying at your bank’s exchange rate.
Transferring money within PayPal is free of charge if the transfer is made in the same currency. This feature can be a great help, for example, if you’re splitting expenses after a dinner with friends, or if you prefer to transfer money to each other instead of cash (something that revolutionalists often use).
The transfer is quick, and the money can arrive in each other’s account within minutes. As well as being fast, PayPal’s ability to send money is also reliable, as the system monitors and controls transactions 24 hours a day, protecting users against fraud and theft.
From 1 July 2022, the Hungarian government extended the obligation to pay the financial transaction tax to all foreign fintech companies providing cross-border services in Hungary, including PayPal.
However, it is PayPal, not the customers, who will have to pay it. You will be affected by this change if PayPal decides to pass the levy on to you, in whole or in part. This could increase the fee for a single transfer by up to 0.3 percent – but not more than HUF 10 000. Betting money is not affected by the financial transaction fee.