Our guide to PayPal

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Alexandre Desoutter updated on 14 October 2022

Trust is important on the internet, and the ability to transfer, receive, donate and pay with confidence online is vital in our day-to-day lives and our work.

If you want to know more about PayPal transfer services, you have arrived in the right place. This page is a review and introduction to the world’s favourite money transfer service. You can learn about their services and fees, and get our PayPal review, right here with HelloSafe. 

What is Paypal?

PayPal Holdings, Inc. is an American financial technology company which runs one of the most popular, trusted and well-used online payments services in the world. It operates in the vast majority of countries globally and serves as an alternative to traditional paper methods such as checks and money orders. The company operates as a payment system for e-commerce vendors, auction sites and many other commercial users, for which it charges a small fee. Perhaps the most important element of PayPal’s service is the guarantees that it provides to both buyers and sellers online. If you are unhappy with your goods, PayPal will help you pursue a refund.

Wondering who founded Paypal? The “PayPal Mafia” is an influential group of ex-employees and founders of the companies that merged and went on to become PayPal. These include Elon Musk, Peter Thiel, and Max Levchin. The company has been providing surety to customers and simplicity to people who want to transfer money and pay for goods and services online.

How does PayPal work in Canada?

You can easily get started with a PayPal account for personal or business use, on your computer, smartphone or another device by simply visiting paypal.com, or by downloading PayPay’s mobile payment app (available for both iOs and Android).

To sign up online, click the “sign up” button at the top right corner of the website. You will be asked about which type of account you would prefer, for professional or personal use. Next, you will need to provide personal information like your phone number and email, and then you will be prompted to create a strong password to secure your account.

To send and receive money with PayPal, users typically opt to add a bank account to their account. To do this, simply click on the Wallet menu on the top bar. You can then add a bank account by entering your card details and then hitting confirm. When using e-commerce platforms, you can then pay using PayPal by using your log-in credentials for the platform. When you are sent money by other users, or by your customers, the funds will go directly to your chosen bank account. You can add multiple accounts to the platform should you choose. If you choose not to do so, however, you can use PayPal without a bank account. You can send and receive money directly using your PayPal Balance.

To make a payment or transfer with PayPal, you can follow the steps below:

  • If you have received an invoice from an online seller, either via email or through a form on a website, you can start the payment process by clicking “Pay Now” when prompted, or by logging on to your PayPal account and then pressing the “Send/Receive” button on your account’s main landing page.
  • If you are making a payment through your PayPal account using the PayPal app or website, you will next be asked whether or not you are paying for a product or service, or whether you are simply transferring funds to your friends or family.
  • Next, you will be asked for the recipient’s email address. You must make sure this is entered accurately.
  • PayPal will now prompt you to specify the amount of money, and the currency that you would like to transfer.
  • Finally, you can press confirm, at which point PayPal will ask you to specify which payment method you would like to use your PayPal Balance, or your personal or business bank card which you have added to the account.

Our Paypal review:

PayPal is so widely used that it is fair to say that it is a household name in 2022. For the overwhelming majority of internet users buying and selling online, as well as those using its transfer services, PayPal provides an indispensable day-to-day service. The platform facilitates immediate PayPal Balance transfers and card payments, and a 1-7 day wait time for its “e-cheque” payment system.

PayPal has received praise for its simplicity, the quality of its customer services, and the speed at which it resolves disputes between buyers and sellers. It also features industry-leading fraud protection and encryption features, helping to keep you safe online. It has received limited criticism for the size of its payment fees for professional users and sellers.

What are the advantages and disadvantages of Paypal?

To many, PayPal is the first port of call for transfer and payment services online. But it isn't the only option on today’s market. Below, we have presented some of the key advantages and disadvantages of the service.


  • Simple to use, both as a buyer or seller, or to transfer funds to friends or family using its p2p features.
  • Trusted by millions. It is the most popular service of its kind on the internet.
  • Secure. PayPal uses industry-leading encryption and security services.
  • Safe. PayPal will guarantee that your money is returned to you if you transfer money to pay for fraudulent goods or services with another PayPal user.
  • Fast. PayPal is very quick. Most payments and transfers can be made in seconds using only an email address, and they will usually reach their recipient instantly.
  • Finally, PayPal now offers a variety of services including PayPal Credit and PayPal Buy Now, Pay Later services, which allow customers to shop online with greater flexibility concerning their payment method.


  • PayPal currently only allows for cryptocurrency holdings, purchases and transfers in the United States. These services are not yet available in Canada.
  • The company has received some criticism for its rates for professional sellers. Other payment methods, such as card, cash and cheque payments, do not always carry these fees.
  • PayPal does not offer easy payment and transfer splitting features like other companies including Venmo. These features make it easier for friends to split purchases, such as restaurant bills.
  • PayPal usually only works online. It is very rarely possible to seamlessly pay via PayPal in person when paying for goods and services.

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How to open a PayPal account in Canada?

It is very quick and easy to open a PayPal account, and you can usually get it done in seconds. Just follow the steps, below:

  1. Go to www.paypal.com and press the Sign Up button.
  2. Choose which account type you want, personal or business, and click Get Started.
  3. Select Canada as your country, enter your email address and create a password.
  4. Click Continue.
  5. Fill out the form and enter the CAPTCHA.
  6. Confirm that you've read the PayPal User Agreement and click Agree and Create Account. You are done, and now you can get started with your payments and transfers. 

How much does PayPal charge for transfers?

HelloSafe has compiled a list of fees charged by PayPal for both personal and professional buyers and sellers. We have presented them alongside a calculator which can help you check how much your fees might be when using the service. Remember, it is always free to receive a personal transfer through the service.

In the below table, we have collected all of PayPal’s transfer fees, so that you can check how much it might cost you to use the company’s transfer services from Canada to send money to your contacts.

Recipient's locationFrom a PayPal account or bank accountBy credit card
Within Canada
No fees2.9% + any fixed fees (see below)
USA and Europe
$2.99$2.99 + 2.9% + any fixed fees
Other countries
$4.99$4.99 + 2.9% + any fixed fees
PayPal transfer costs

PayPal charges the following fixed fees depending on the recipient's currency. Please note that the fixed fee is NOT the currency conversion fee. The exchange rate is added on top of the fixed fees.

CurrencyFixed Fee
Australian Dollar
0.30 AUD
Brazilian Real
0.60 BRL
Canadian Dollar
0.30 CAD
Czech Crown
10 CZK
Danish Krone
2.60 DKK
0.35 EUR
Hong Kong Dollar
2.35 HKD
Hungarian Forint
90 HUF
Israeli New Shekel
1.20 ILS
Japanese Yen
40 JPY
Malaysian Ringgit
Mexican Peso
New Taiwan Dollar
10 TWD
New Zealand Dollar
0.45 NZD
Norwegian Krone
2.8 NOK
Philippine Peso
15 PHP
Polish Zloty
1.35 PLN
Pound Sterling (UK)
0.20 GBP
Russian Ruble
10 RUB
Singapore Dollar
0.50 SGD
Swedish Krona
3.25 SEK
Swiss Franc
0.55 CHF
Thai Baht
11 THB
US Dollar
0.30 USD
PayPal conversion fixed fee

Interested in seeing what rates other platforms are offering?

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How to transfer money from PayPal to a bank account?

You can easily transfer money from your PayPal account to your bank account in seconds. Most of the time, the money will arrive in 1-3 business days. Alternatively, you can use Paypal instant transfer, which carries a 1% fee.

How to transfer money from PayPal to a bank account using the website

  1. Head to PayPal.com and log in to your account.
  2. Click on the “Wallet” tab at the top of the page.
  3. Hit the “Transfer Money” button.
  4. Select “Transfer to your bank”. 
  5. Choose the business or personal account you wish to transfer the funds to, then click “Next”. 
  6. Enter the amount you’re sending then click “Next”.
  7. Double-check the transaction details then press “Transfer Now”.

How to transfer money from PayPal to a bank account using the mobile app

  1. Download the PayPal mobile app and log in to your account.
  2. Head to “My Wallet” and click “Transfer Money”.
  3. Press “Transfer to your bank” then choose the bank you’re sending the money to. 
  4. Now, enter the amount you wish to transfer then press “Next”. 
  5. Double-check the transfer details and then, click “Transfer Now”.

How to withdraw money from PayPal without a bank account:

In Canada, you cannot withdraw money from PayPal without a bank account. However, you are free to make purchases using your PayPal balance, without linking a bank account. You could also purchase PayPal Digital Giftcards using your balance, and then redeem them in physical stores across the country, and globally.

How long does it take PayPal to transfer money to my bank account?

Using PayPal Instant transfer, you can move money from your PayPal account to your bank within half an hour. This process usually takes only seconds and costs a 1% fee.

Standard transfers are free and take between 1- 3 business days.

How to contact PayPal Canada?

PayPal can be contacted via the phone, and their customer services operatives can help with any query you might have.

US/Canada Phone Line: 888-883-9770. Hours of operation: Monday - Friday, 8:00 a.m. to 8:00 p.m. Central time.

Alternatively, you can use the resolution center, available on the PayPal website, or through their app, to communicate with the company and deal with your issues as and when they arise.

How do I login into Paypal in Canada?

It is very easy to log in to PayPal in Canada. Simply download the app, or visit their website and log in using your credentials. Occasionally, you may be asked to pass additional security, such as a WhatsApp message to your registered mobile number, or a confirmation email.

Where to buy a PayPal gift card Canada, how to buy crypto with Paypal.

You can buy PayPal Giftcard on the PayPal website by clicking through to the “Digital Gift Cards” page through the drop-down menu on the main landing page, or through your personal account’s main page, either on the app or the main site. These cards can be customized and sent to friends or family. They are redeemable online or in stores across the country, and globally.

You currently cannot buy, hold or sell cryptocurrency using PayPal in Canada. This service is available in the United States and is likely to arrive here soon.

How do I delete my PayPal account?

You can delete your PayPal account at any time. Simply follow the steps below:

  1.  Log in to your PayPal account using a laptop, computer, IOS or Android device 
  2. Hit the gear icon given in the top-right corner of the screen. This will take you to the settings submenu. 
  3. In the Account section under the 'Account options' tab, press the 'Close your Account' button.

Ready to sign up for an account? Or would you prefer to shop around and see what other offers are out there?

Compare the top 10 money transfer platforms

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Alexandre Desoutter

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a as a contributor to several publications.