Effective August, 2021, PayPal has updated their pricing which will cost families more to use this service. PayPal did charge 2.9% plus an additional 30 cent fee and now we learn that PayPal is going to charge 3.49% plus an additional 49 cent fee. For families depositing up to $20 this will result in an approximate 23 cent additional fee increase. For families who chose to deposit up to $50 it will now cost an additional 49 cent fee. And lastly, a $90 deposit would carry an extra 76 cent extra charge due to the PayPal pricing increase. Though parents are not required to use PayPal to deposit money in school accounts, we want to make families aware of the fee increases effective August 2021.
PayPal Increases Fees for 2021
AUG 30, 2021