You can't transfer money directly from PayPal to Mercado Pago (not in USD or Argentine pesos). You can withdraw your money in pesos to an Argentine bank account, but PayPal charges an unfavorable 5.4% fee (plus a fix rate). If you use an account like Wallbit to withdraw your USD, PayPal's fee drops to 3.50% (with no fix rate). You can then withdraw pesos to your Mercado Pago account at a favorable exchange rate or keep your money in USD.
Download the app now and withdraw your PayPal USD with no deposit fees.
Key takeaways
- PayPal doesn't allow direct withdrawals to Mercado Pago.
- You can withdraw to a local bank account in pesos with a 5.4% fee.
- Wallbit lets you convert USD to pesos and withdraw them to Mercado Pago.
- Wallbit doesn't charge a fee or fixed rate for receiving PayPal withdrawals.
Can I withdraw money from PayPal to Mercado Pago?
No. PayPal only allows withdrawals to local bank accounts in pesos, and Mercado Pago isn't available as a direct withdrawal option within PayPal.
For this reason, if you want to transfer your PayPal balance to Mercado Pago, you'll need to use another service to receive the funds and then send them to an Argentine bank account or digital wallet.
PayPal states that withdrawals to local bank accounts can take 1 to 3 business days and are subject to applicable fees. With Wallbit, however, you can receive funds from PayPal, Wise, or Payoneer, as well as ACH, wire, SEPA, and stablecoin transfers. Wallbit doesn't charge any fees for receiving deposits.
How to transfer money from PayPal to my bank account in Argentina?
To withdraw money from PayPal to an Argentine bank account, you first need an active PayPal account. The process starts by providing your personal information, email address, and password.
You can then link a bank account through the “Wallet” section of PayPal. Here's how:
- Log in to your PayPal account.
- Go to “Wallet.”
- Select “Link a bank account.”
- Enter your CBU and full legal name.
- Select “Link bank account.”
You can also link a debit or credit card through “Wallet.” To do so, PayPal will ask for information such as the card number, card type, expiration date, security code, and ZIP code.
How much does it cost to transfer money from PayPal to Mercado Pago?
It's important to distinguish between the costs associated with each transaction. PayPal charges fees when you withdraw funds, and those fees can be significant:
- Receiving an international commercial payment: 5.40% + fixed fee
- Converting USD to another currency: 3.50%
- Withdrawal to an Argentine bank account: a fixed fee may apply depending on the method
- Withdrawal to a U.S. bank account: 3.50%
If you withdraw to Wallbit, you only pay the 3.50% withdrawal fee for a U.S. bank account. We’ll go into more detail about this later.
Once your funds are in Wallbit, withdrawals in local currency use one of the best exchange rates. Wallbit Classic uses the standard exchange rate, while Pro and Max plans offer preferential exchange-rate conditions.
Comparison: PayPal vs. Wallbit for withdrawing money to Mercado Pago
A hack to receive your USD without converting them to pesos: Link your Wallbit account to PayPal
If you have a Wallbit account, you get U.S. banking details that you can link to PayPal to withdraw funds in USD via ACH transfer.
This allows you to send your PayPal USD balance to your Wallbit account and keep it in USD, instead of going through PayPal's local bank withdrawal process in Argentina.
For the transaction to be processed successfully, the account holder information must match the details registered on the receiving account.
1. Log in to PayPal
Log in to your PayPal account and go to “Wallet.” From there, you can manage the bank accounts and cards linked to your profile.
2. Select the option to link a bank account
In “Wallet,” find the bank accounts section and select the option to add a new account.
PayPal may display different options depending on your country and account type. To use Wallbit, select the option for a U.S. bank account.
3. Find your Wallbit banking details
Open Wallbit and go to the “Add Money” section. There you'll find your U.S. banking details, which you'll need to enter in PayPal to link the account.
Before entering the information, make sure you have the following:
- Account number
- Routing number
- Account type
- Full legal name of the account holder
For this type of transaction, your Wallbit account is set up as a checking account.
4. Enter your information in PayPal
Enter the banking information provided by Wallbit into PayPal and confirm that you want to link the account.
It's essential that the account holder's name matches the name registered with Wallbit. Any discrepancies in the beneficiary information can cause the transfer to be rejected and returned to the originating account.
5. Wait for PayPal to confirm the account
After submitting the request, PayPal may require additional verification before allowing the bank account to be used for withdrawals. The verification process and requirements may vary depending on your account.
Once Wallbit appears as a linked bank account, you'll be able to select it as the destination for withdrawals from your PayPal balance.
6. Withdraw your funds from PayPal
Once you have available funds, go to PayPal's transfer or withdrawal section and select the Wallbit bank account you just linked.
Enter the amount you want to withdraw, review the transaction details, and confirm the transfer.
How long does a PayPal to Wallbit transfer take?
The time it takes for funds to arrive depends on the transfer method and PayPal's verification processes, as well as those of the receiving bank. With Wallbit, funds typically arrive within 24 hours, as long as you initiate the transfer during banking hours.
In some cases, transfers can take up to 72 hours due to U.S. banking processes, particularly if it's your first transfer between the accounts or if you initiate the transfer late on a Friday.
Once the funds arrive, they'll be available in your Wallbit account in USD. You can keep them in USD, withdraw them to your local bank account or wallet, such as Mercado Pago, or use them for a variety of other USD transactions.
What should you keep in mind when linking PayPal to Wallbit?
Before making your first transfer, keep these points in mind:
- The name must match: Use the exact full legal name registered with Wallbit.
- The account is a checking account: Select this account type when PayPal asks for your bank account information.
- PayPal may require verification: The verification process can vary depending on your account and country.
- Check the fees before confirming: PayPal may charge fees depending on the withdrawal method you use. Choose an ACH transfer.
- Keep your transaction records: They can be useful if your transfer requires additional review.
Example: PayPal to an Argentine bank account
Option A: Through an official PayPal partner (Nubi / Banco Macro)
- Withdrawal amount: USD 100
- Withdrawal fee: USD 10 + VAT (USD 2.10) = USD 12.10
- Net amount to be converted to pesos: USD 100 - USD 12.10 = USD 87.90
- Official exchange rate: ARS 1,520.00
- Total received in your bank account: USD 87.90 × ARS 1,520.00 = ARS 133,608.00
Option B: Direct PayPal withdrawal to a CBU (conversion handled by PayPal)
(PayPal applies an estimated conversion margin/fee of 4.5% over the official exchange rate.)
- Effective exchange rate: ARS 1,520.00 × (1 - 0.045) = ARS 1,451.60
- Total received in your bank account: USD 100 × ARS 1,451.60 = ARS 145,160.00
Example 2: PayPal to Mercado Pago through Wallbit
Step 1: PayPal to Wallbit via ACH
- PayPal charges a 3.5% fee for transfers to a U.S. bank account (USD 100 × 3.5% = USD 3.50).
- Deposit to Wallbit: USD 96.50
Step 2: Wallbit to Mercado Pago
- Exchange rate: ARS 1,552.43
Total received in Mercado Pago: USD 96.50 × ARS 1,552.43 = ARS 149,809.50
Using Wallbit can leave you with an additional ARS 4,650 to ARS 16,200, mainly because the 3.5% ACH transfer fee has a smaller impact than PayPal's fixed withdrawal fee or exchange-rate spread.
Conclusion
To transfer USD from PayPal to Mercado Pago, you need an intermediary because PayPal doesn't offer direct withdrawals to Mercado Pago. With Wallbit, you can transfer money from PayPal to Mercado Pago at a lower cost.
Download the app now and withdraw your PayPal USD with no deposit fees.
