PayPal drops fees for personal payments (UK)

PayPal just sent me an email saying that starting July 9th, they’ll stop charging for “Personal Payments” if they are funded from a bank account (i.e. not a credit/debit card).  I’m guessing this is an attempt to cut into the market share that online banking gets for making these types of payments.  It may also be a direct response to the move by banks to make these transfers instant (see post on card readers).

I have to admit, it’s pretty attractive.  No more messy exchange of bank details, just the email address of your recipient is all that’s needed.  However, I imagine that it will take somewhat longer than the new “instant” transfers offered by banks.  I wonder if I can move money overseas this way?  Also, what’s the difference between “personal” and “commercial” payments?  Is there anything to stop ebayers from getting their cash monies as personal payments and avoiding paying fees to PayPal entirely?

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