PayPal in Ukraine: the service will continue to work, but now you will have to pay a commission

The minister of digital transformation Mikhail Fedorov denied the information that PayPal accounts will accept funds only until June 30, allegedly due to the fact that the banking license for the system's operation in Ukraine is temporary, writes "EP".

The main thing is that PayPal will not stop working in Ukraine on June 30. The only changes that will occur when using the service are transaction fees and withdrawals from your account to a bank card.

"Now there is no commission. After June 30, there will be a regular Commission for all clients, but everything will continue to work," Fedorov said.

The minister of digital transformation added that he personally asked the CEO of PayPal that legal entities can also use the service.

"In order for our online stores, our manufacturers can sell to the whole world by accepting money on PayPal. These are joint plans, not just our desire. I am sure that this will happen," he stressed.

Details

Previously, PayPal operated in the domestic market in a strictly limited "send only"mode. Ukrainians could create accounts, top up their accounts and spend money from them — send them to subscribers from other countries, pay for purchases in online stores or buy services on online services, but not receive money to their own accounts. In 2018, PayPal partially solved this problem by implementing the opportunity for Ukrainians to receive funds through its subsidiary Xoom, however, it was possible to withdraw money only in the branches of individual banks.

Currently, P2P payments "for friends and family"are allowed in Ukraine. In practice, this means that you can receive funds (and, of course, send them) directly from any individual. Currency: US dollars (USD), euros (EUR), Canadian dollars (CAD) and British pounds (GBP). You can also withdraw money from your PayPal account to a bank card.

Until June 30 of this year, PayPal will not charge a commission on transfers of Ukrainian users, but it can be taken by Ukrainian banks themselves.