PayPal set to increase foreign transaction fees to 4.4%, up from 3.9%

choombak

choombak

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What it means is accepting payments from buyers located outside the US will attract 4.4% fees, up from the existing 3.9%. Selling knives outside US gets expensive starting 03/29/2017. There are a few more changes too...

  • We are changing the standard transaction fee for sellers selling goods or services online to buyers outside the U.S. from 3.9% to 4.4% plus the existing fixed fee based on the currency.
  • We are changing the currency conversion spread charged when we perform a currency conversion for you from charging an additional 2.5% over the exchange rate set by our bank to charging an additional 3.0% over the exchange rate set by our bank.
  • We are updating the basic requirements for Seller Protection by requiring that you must respond to PayPal’s request for documentation and other information in a timely manner or you will not be eligible for Seller Protection.
  • Non-discouragement clause for sellers discouraging from mis-characterizing PayPal and preferring other payment methods over PayPal (This applies to dealers than individual sellers, IMO).

The full Policy Updates has been posted here, and includes a few other changes too. :mad: Since PayPal is used heavily on our forums, I thought of posting this information.
 
Where did you read that? FWIW when used properly F&F is a great tool for sending money to friends and family. If i couldn't send my wife's PayPal account money or vice versa without a fee, I'd be a little mad to say the least.
 
This is weird:

We are updating the list of items that are not eligible for Purchase Protection. The updates to the list are:

Financial products or investments of any kind.
Donations.
Payments sent using PayPal’s friends and family functionality.
Payments made using PayPal Payouts and Mass Pay or guest checkout transactions (i.e., payments not sent using your PayPal account).

I thought it wasn't covered already? Though I have read of people getting their money back even though they used gift. Maybe now it is a no ifs, ands, or buts policy. They mean it this time!


The international stuff doesn't impact me a bit as I have only sold international maybe a couple times and state in my terms that I do not sell international.
 
"Non-discouragement clause for sellers discouraging from mis-characterizing PayPal and preferring other payment methods over PayPal ."

What does this mean? If they are punishing folks for encouraging use of competitors, they should hear from the Justice Department given their dominant position in the market for payment services.
 
craytab said:
Not me:D

And if a .5% fee hike on international sales is going to make or break you as a hobbyist you should probably seek to improve your earning power.
Click to expand...

Since I work for a real PITA my earning power is not going to increase Cray!!
Self employed! I need a different hobby!
[emoji51][emoji51][emoji51]
 
palonej said:
Since I work for a real PITA my earning power is not going to increase Cray!!
Self employed! I need a different hobby!
[emoji51][emoji51][emoji51]
Click to expand...

Don't you mean hobbies?

Wasn't directed at you Joe. You don't sell any of those awesome knives to be impacted by this :thumbup:
 
I can't bring myself to let them go Ed!! So you're right, this means nothing to me!
Still think the protection provided is worth another .5%.
 
It would be very useful for us to learn about a decentralized form of trade media. JM Bullion offers buyers check, paypal, credit card and bitcoin. Someone help.
 
craytab said:
Not me:D

And if a .5% fee hike on international sales is going to make or break you as a hobbyist you should probably seek to improve your earning power.
Click to expand...

My feelings also. Or get another hobby.

If you don't like it, don't use them. And if you do use them, adjust your pricing accordingly.
Or buy/sell whatever it is domestically...
 
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I can't imagine the aggravation and expense of trying to buy and sell here without PP. Credit card fees, waiting for checks to clear, calculating exchange rates on my own , etc. etc. - I happily defer to PP.



Ray
 
RayseM said:
I can't imagine the aggravation and expense of trying to buy and sell here without PP. Credit card fees, waiting for checks to clear, calculating exchange rates on my own , etc. etc. - I happily defer to PP.



Ray
Click to expand...
Google Wallet may be a possible alternative, see https://support.google.com/wallet/answer/6285485?hl=en. All you need is a gmail.com address. Don't think it has buyer and seller protection, but at least doesn't have any transaction fees.
 
I would not even consider using a payment method w/o protection to save a couple dollars. Surprised anyone would even consider it.
JMO
Joe
 
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