Pay pal question

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Chuck289

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I wasn't sure which section would be best for this question. I notice that many members who sell knives in the exchange section say something like "add 3% if paying with paypal." Is there some sort of fee for selling items through paypal? I thought you could just send money directly through paypal for free. Can somebody please explain?
 
Because if you use paypal and have a paypal account that accepts credit cards it takes out a bit more for the processing of the credit cards. Only trick is it does this on all of your transactions on these paypal accounts not just the credit card ones. if i recall right its the premier and business accounts that this happens. Personal accounts on paypal can't accept paypal and hence don't have this problem.
 
Chuck289 said:
I wasn't sure which section would be best for this question. I notice that many members who sell knives in the exchange section say something like "add 3% if paying with paypal." Is there some sort of fee for selling items through paypal? I thought you could just send money directly through paypal for free. Can somebody please explain?
Click to expand...

Yes, PayPal charges the seller a fee.
Buyer does not pay any fee to PayPal.

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I just have the basic minimum free account. So does that mean I sell items or receive money through paypal?
 
I'm one of those that puts "add 3% for paypal".

I do it because it's an "option". If I have to have it paypal only, then I'll eat the fee. But check/m.o. is ok with me...no fee (other than the stamp).


I do accept Paypal Bank Checks..but have to wait until they clear.

Fastest payment is credit card through Paypal...but, as noticed, it comes with a fee that the recipient pays.
 
When I started out with paypal I simply registered a credit card and there were no fees. However at the time at least there was a 1000 dollar limit on the money that you could send (that's a total limit of 1000 dollars on the money that you sent EVER). After that in order to keep using paypal I had to become a "verified" member. Which means registering a bank account and it also means that when someone sends me money I get hit with a 3% fee. Hence my charging customers an extra 3% if they use paypal to send me money.
 
Triton said:
When I started out with paypal I simply registered a credit card and there were no fees. However at the time at least there was a 1000 dollar limit on the money that you could send (that's a total limit of 1000 dollars on the money that you sent EVER). After that in order to keep using paypal I had to become a "verified" member. Which means registering a bank account and it also means that when someone sends me money I get hit with a 3% fee. Hence my charging customers an extra 3% if they use paypal to send me money.
Click to expand...

That's how they got me too. And actually, isn't it 3 point something percent?:confused:
 
At first I thought Paypal was great, but that 2.9% really starts to add up quicker than you think. Use www.ppcalc.com to figure fees. I perfer Postal Money orders, but if someone has to have it NOW, then they can eat the fees.

Jason
 
About the fee - if you buy something from a company on line that uses paypal (for example, sometimes I buy computer parts at newegg.com), you don't pay the fee as a buyer - the seller pays that.
Bad for the seller? Maybe not. I know that if a business accepts credit cards, they pay a % fee for each transaction as well. I don't know if it's more than the paypal fee or not.
If you pay someone with a money order, you have to pay the surcharge for the money order + you have to stand in line at the post office, which depending on where you live and the time of the day can mean an hours worth of your time.
I don't think paypal is a bad deal at all.
 
jerrinfla said:
About the fee - if you buy something from a company on line that uses paypal (for example, sometimes I buy computer parts at newegg.com), you don't pay the fee as a buyer - the seller pays that.
Bad for the seller? Maybe not. I know that if a business accepts credit cards, they pay a % fee for each transaction as well. I don't know if it's more than the paypal fee or not.
If you pay someone with a money order, you have to pay the surcharge for the money order + you have to stand in line at the post office, which depending on where you live and the time of the day can mean an hours worth of your time.
I don't think paypal is a bad deal at all.
Click to expand...

Agreed.

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I once pointed out to a seller that the 3% PayPal fee on my purchase would be a LOT cheaper for me than the cost of a Money Order plus Priority Mail to send it (I don't trust the US Snail...I mean MAIL...very far). If they are going to carry money in any form for me, I want a tracking number so I can see where they sent it. So yeah, add that 3% for PayPal, I'll pay it.:)
 
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