PayPal business account Singapore review: Fees & requirements (2023)

PayPal was one of the first digital payment platforms to be established, allowing customers to shop and send money online - and letting internet entrepreneurs receive fast and simple payments. If you run an online business, use marketplace platforms like Etsy or eBay or receive an income through selling on social media, you may be considering a business PayPal account.

This guide will run through all you need to know about using the PayPal business account in Singapore, and fees exchange rates you should know of. To help you decide if PayPal is right for you, we’ll also introduce an alternative for comparison - the Wise business account. If you trade internationally, or have your eye on global growth, Wise could suit you, with low cost, secure international business payments which use the real mid-market exchange rate.

Table of contents
Benefits of PayPal for Business PayPal transaction fees and exchange rates PayPal Business vs Wise Business - which is better in Singapore? PayPal Business account fees Wise Business offers an easier way to accept card payments How to set up a PayPal business account in Singapore Frequently asked questions

Benefits of PayPal for Business

PayPal has a huge global user base, and is a popular, fast and secure way to pay - particularly when shopping online or via apps. Offering PayPal as a payment method to your customers could boost your business - and you can also use your PayPal account to manage your business finances more broadly, making payments, and gathering insights and data about how your company is performing.

Here are some of the PayPal Singapore business features you’ll be able to access¹:

• Receive payments domestically and internationally
• Sell online, using email and social media
• Send payments to vendors and contractors
• Request payments and prepare invoices
• Use PayPal Payouts to send mass payments and save time
• Manage your account using the PayPal app
• Benefit from fraud protection and risk management tools
• Use the PayPal resolution centre to support customer service
• Withdraw to your SGD or USD bank account or a bank card
• Get reports and insights into customer and business data

Sending commercial payments: PayPal transaction fees

Let’s take a look at some of the fees you’ll encounter when using a PayPal Singapore business account. First, the costs of sending a payment from your PayPal account.

It’s worth noting upfront that PayPal’s fees will depend on the specific terms and conditions of your account agreement - so you’ll need to double check the full details before you start transacting. However, here are the usual charges to send money with PayPal:

PayPal payment type	PayPal business fee²
Send a domestic payment in SGD	Fee may vary depending on how you fund the transfer - some domestic payments are free to make
Send an international payment	Fee may vary depending on how you fund the transfer Currency conversion fees may also apply
Send a domestic PayPal Payout (pay to multiple users at once)	2% of transaction value, capped at S$1.60 per transaction
Send an international PayPal Payout (pay to multiple users at once)	2% of transaction value, capped at S$80 per transaction + any currency conversion fee

PayPal exchange rates

We’ve already mentioned that you may pay a currency conversion fee when you send a payment overseas with PayPal. But what does this really mean?

To understand the PayPal exchange rate you first need to know about the mid-market exchange rate. That’s the rate you’ll find on Google, or when you use an online currency conversion tool.

However, it’s not necessarily available to retail customers. Instead, many platforms, including PayPal, choose to add a currency conversion fee to the exchange rate they use. This can make it harder to work out the real costs of international payments - and push up the price overall.

PayPal uses a currency conversion fee of 3% - 4% for commercial payments depending on the specific transaction you’re making: 3% for balance conversions, transfers, and payouts, and 4% when sending payments or receiving refunds. While this is a common practice, conversion fees aren’t inevitable.

You may find you can get a better deal if you choose a provider like Wise for your international transactions. Wise actually uses the mid-market exchange rate, with low, transparent fees which are split out so you’ll always be able to see exactly how much your transfer costs. See below how Wise's fees compare to PayPal:

PayPal business transfer limit

PayPal may impose limits on both personal and business accounts, which can be found by logging into your PayPal account³. If there’s a limit to the amount you can transfer, you’ll be able to reach out to PayPal directly to understand how you can increase this limit - usually by completing further verification steps.

PayPal Business vs Wise Business - which is better in Singapore?

Both PayPal and Wise offer business services - although here the features on offer from each provider are a little bit different. Which is best for you may depend on the transactions you need to make.

Let’s take a quick look at the features available from both PayPal and Wise head to head.

	PayPal Business Singapore	Wise Business Singapore⁵
Available currencies	Support 25 currencies in more than 200 countries/regions⁴	Hold, receive, exchange and send payments in 40+ currencies Get local bank details for 9 (including SGD, USD, EUR, and more)
Fees for sending money	Domestic sends: Fees may vary for one off payments, depending on currencies and funding method; 2% fee for mass payouts + any relevant currency conversion fee International sends: A currency conversion fee of 4% above the base exchange rate applies	From 0.26%; Conversion fee varies by currency
Fees for receiving money	Domestic sales: 3.9% + S$0.50 per transaction International sales: 4.4% + fixed fee (based on currency received)	Free to receive domestic payments with local account details (AUD, SGD, USD, EUR, and more)* Receive Wire & Swift payments with international account details:Fixed fee depending on currency received*
Convert currencies	Adds 3-4% to the base exchange rate as a currency conversion charge, with the exact rate depending on the transaction type	Mid-market exchange rate + small fee starting from 0.26%
Linked debit card	Unavailable	Available; first card on the account is free, additional cards at S$4 each
Integrate on your e-commerce site for payments	Available	Unavailable
Sell through social media links	Available	Unavailable
Seller protections and dispute resolution in place	Available	Unavailable

*Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Details correct at time of writing — 21 Aug 2025

A PayPal Singapore Business account might suit you if you’re running an e-commerce store and want a ready-made payment gateway built in. PayPal Checkout can be embedded directly into your site, letting customers pay in a wide range of currencies with their PayPal balance, bank account, or cards. That means you don’t need to set up a separate merchant account or external gateway provider — PayPal processes the transaction end-to-end and deposits the money into your account.

➡️ Check out our guide to learn more about payment gateways in Singapore.

Beyond e-commerce, your PayPal Business account can also be used to pay suppliers and staff, send invoices, and generate transaction reports to track performance. The main limitation is that PayPal Singapore doesn’t issue a linked debit card you can use to spend directly from your PayPal balance. If that’s important for your team’s expenses, you’d need to look at alternative providers that offer multi-currency cards.

💡Need to pay or get paid in foreign currencies? Wise Business could be a better alternative business account as you can hold, send, receive and exchange 40+ currencies all in one place. You’ll always get the mid-market rate with low, transparent fees. Even better, you can connect Wise Business cards to your account to control team spending in real time and reduce admin.

• Hold and manage 40+ currencies for all your international transactions.
• Pay foreign currency bills and ad-hoc business travel expenses using the Wise Business card without hefty foreign transaction fees.
• Get your first Wise Business card for free when you open a Wise Business account.
• Always get the mid-market rate with transparent conversion fees starting from 0.26%.
• Seamless integrations with popular accounting software.

➡️Get started with Wise Business today

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PayPal Business account fees

PayPal Business accounts do not usually have any maintenance fees, but you’ll pay for a broad range of transaction types. We’ll look at a couple of the most common costs you’ll face in more detail next, but it’s also worth looking out for charges such as:

• Alternative payment method charges
• Micropayment fees
• Chargeback and dispute fees
• eCheque fees

Not all PayPal merchants will end up paying all of these costs — it really depends on how you use your account. Check through the terms and conditions carefully before you start to transact with PayPal.

PayPal withdrawal fees

One charge which is pretty much unavoidable is the cost for withdrawing money from PayPal. If you’ve received PayPal payments you might end up needing to pay a charge to withdraw to your bank account, depending on how you arrange the transfer:

PayPal withdrawal type	PayPal Singapore fee
Withdraw to a linked SGD bank account	Free for amounts over S$200; S$1.00 fee if withdrawing less than S$200 Currency conversion fees may apply
Withdraw to a linked USD bank account	3.0% of the withdrawal amount
Withdraw to a linked SGD card	1.0% of amount; min fee S$0.50, max fee S$15.00

Details correct at time of writing — 21 Aug 2025

PayPal fees for receiving payments

If you’re using PayPal to receive commercial payments, there are fees to pay, which vary based on the transfer detail:

Payment type	PayPal commercial payment fee
Domestic payment in SGD	3.9% + S$0.50 per transaction (for payments received from buyers in Singapore)
International payment	4.4% + fixed fee per transaction (fixed fees vary by currency)

Details correct at time of writing — 21 Aug 2025

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Wise Business offers an easier way to accept card payments

Start accepting card payments the easy way — no coding, no complex gateway setup. With Wise Business, just share a link, invoice, or QR code and get paid in multiple currencies in minutes.

Card processing fees are simple: 3.2% + S$0.50 for Singapore cards, 3.6% + S$0.50 for international or business cards⁶. Once paid, the money goes straight into your Wise multi-currency account so you can hold, convert, or withdraw at the real exchange rate at your convenience.

Accept card payments the smarter way with Wise Business

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How to set up a PayPal business account in Singapore

Getting started with PayPal Business is straightforward; you can be up and running in minutes⁷:

• Sign up online: Head to the PayPal Singapore Business page and select Open a Business Account.
• Enter your business details: Add your business name, contact information, and type of business (e.g., sole proprietor, company).
• Verify your email: PayPal sends you a confirmation email — click the link to activate your account.
• Link your bank account: This lets you withdraw funds you receive from sales. In Singapore, you can link any local SGD account.
• Add debit or credit cards: Linked cards can be used to fund payments or as backup when your PayPal balance is low.

➡️Check out our guide on how to create a PayPal account.

Once your account is active, you can choose how you want to get paid. PayPal Business supports⁸:

• Website checkout: Integrate PayPal Checkout on your online store to accept local and international card payments.
• Payment links & QR codes: Create a PayPal link or QR code to share on social media, email, or in person. Customers click, pay, and you receive funds instantly.
• Invoices: Send professional invoices directly from your PayPal dashboard with a built-in “Pay Now” button.
• PayPal.Me link: Share a personalised link (e.g. paypal.me/yourbusiness) so customers can pay you directly.
• Marketplace integration: Connect your PayPal Business account to platforms like eBay or Etsy to get paid automatically.

With these options, you can accept payments online, in person, or through social media, all from one account.

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Frequently asked questions

Here’s a round up of a couple of commonly asked questions.

PayPal personal vs PayPal Business?

PayPal personal accounts are intended to let customers make and receive personal payments, and shop and spend securely for themselves. PayPal Business accounts are designed for business owners, online sellers and people who need to send and receive payments linked to their work.

The features and fees of PayPal personal vs business accounts are quite different, so you’ll need to make sure you pick the correct account type for your needs.

And if you’re also weighing up account types on Wise, the same question applies: should you go with a personal account or a business account?

➡️ We’ve covered that in more detail in this article comparing the two accounts

How to delete my PayPal Business account?

You’ll usually be able to close your PayPal account easily simply by logging in and following these steps⁹:

1. Click the Settings icon, then Account options
2. Click Close your account
3. Enter your bank account number if requested.
4. Click Close Account.

It’s worth noting that you can’t close a PayPal account where there are active disputes, or which holds a balance. If you’re struggling to close your PayPal Business account, get in touch with payPal customer service to get help.

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Summary

There’s no denying that PayPal revolutionised the way people shop and send money online.

And as a business owner having PayPal as a payment option can be an attractive option. However, it’s worth researching the range of fees and charges you’ll need to pay when using PayPal; international charges can be particularly high.

Depending on where and how you operate, a different option — or a mix of solutions — may serve you better.

For example, a multi-currency account like Wise Business can cut costs on sending and receiving payments across borders.

➡️ To see this in action, read how Axpara saved more than SGD 50K a year while expanding to new markets with Wise Business ⬅️

Sources:

1. PayPal Singapore business
2. PayPal Singapore business fees
3. PayPal Singapore user agreement
4. PayPal country worldwide
5. Wise Business Singapore pricing
6. Wise Business Singapore accept card payments
7. PayPal Singapore business getting started
8. PayPal Singapore business accept payments
9. PayPal help closing an account

Sources checked on 21 Aug 2025