Mymiataflys

I don't sell very much stuff but recently I've sold a few aitem here at what I thought were very reasonable prices with shipping charges that were not padded at all. I had noticed what seemed to be sorta high paypal fees, but didn't give it much thought. Today I spld my intercooler,manifold,downpipe setup to Kung Fu Jesus (this is not directed at him in anyway) and he promptly payed me the 600 +56 for shipping (thank-you) and Paypal (no pal of mine) promptly deducted 20.00 in fees

I have a personal account. is there anyway to avoid these fees?

cjernigan

iTrader: (13)

Wish i knew a way, fees suck.

Joe Perez

iTrader: (8)

Those fees are the principal method by which PayPal makes its money- of course there's no way around them. PayPal is providing a service, and this is the cost of that service.

It's not an original concept- Credit Card companies do it too. In addition to charging you (the consumer) interest if you carry a balance, they also charge a transaction fee to the businesses who accept payment on their cards. A few businesses pass this fee on to the customer, but most simply absorb it as part of their burden calculation and thus it is fairly invisible to consumers.

keinayo

iTrader: (22)

I think that if you do echeck with paypal, it takes several days to clear, but you save some fees.

keinayo

iTrader: (22)

Just checked and I had a deal when someone paid me with an echeck, and the fee was only 1 percent, so it you have several days to spare, you can save some $$

jayc72

iTrader: (14)

Pass it on to the buyer. Add 3% to the total charge if they want to use paypal.

cjernigan

iTrader: (13)

On the topic of credit cards, those fees are the reason why many companies do not accept discover or american express. Their fees usually far exceed that of visa & MC. I think Visa fees are now around 5%, puts a real hurt on small businesses. Thus another reason why some gas stations offer a discount if cash is used.

cjernigan

iTrader: (13)

That's good to know when it comes time to transfer large sums. Paypal is too convenient to not pay some sort of fee.

Ben

iTrader: (33)

There are fees imposed by the credit card companies. When I take a Visa/MC, I have to pay a small flat fee plus a small percentage of the total (3%). The credit card company typically deposits my money into the account, minus their fees, within a day or two.

When I take AMEX, I am charged the same flat fee plus a larger percentage (5%). The money can be deposited no sooner than a week, but typically it takes 3-4 weeks. I will only take an AMEX for a deposit, and add a 10% surcharge for doing so. I will not take AMEX for a final payment.

Paypal assuredly gets better rates as they do huge volume. But they still have to pay fees. Since paypal is in business to make money, not loose it, they pass the fees on to the consumer, along with a little extra to compensate them for performing the service.

TheBandit

iTrader: (8)

To avoid the fees, you must have the payer send the money thru his paypal balance, then there will be no fees attached to it.
-Michael-