Don’t know if you guys feel the same way but it seems PayPal fees are over the top. I just received a payment for $39 & they took out $1.63! Does that sound reasonable to you? Are there any cheaper / better methods of doing online payments? Or am I stuck with PayPal? What are your experiences?
PayPal is actually one of the cheapest if you look around at real merchant services etc. (Provided you do decent turnover.)
I agree with Tops. I did quite a lot of research before sticking with PayPal. most other services charge fees for withdrawing money also, but PayPal doesn't. Plus their base charge of 30 cents is pretty nominal compared to other companies. At then end of it, if you get larger payments, it turns out to be pretty reasonable.
So far paypal is the cheapest one in transactions of money comapred to other providers like moneybookers, Stormpay etc. So better stick with Paypal.
I hate about the transaction fee charged when I received payment. But as if there's another alternative.
Can't wait for Google Checkout to be launched in the UK though... Then again, I've yet to offer PayPal! But we use them occasionally, especially for eBay stuff.
looking at the level of trust they command I think this small service charge is reasonable for piece of my mind.
I agree. I've paid over $250 in paypal fees so far! It adds up... But I'm staying withing with paypal because.. lots of people use it. Hopefully google's check out will charge less!
Well, think of it this way, if you were not using Paypal, would you still be in business ? There is always cost to business and Paypal is not a charity and the fees they collected would fund their operations. I don't think what they charge is outrageous, it is cheaper than what I am being charged when I use other services which charge anywhere from 8.25% to 20% service charge. Without using them, I wouldn't be in business so it is just something you need to factor in your cost.
Yep, it's probably the cheapest around. And remember, Paypal has pretty much become the de facto paying standard in the online world...
Considering how easy it is to get a paypal account their rights are pretty good. As Tops mentioned compared to some other merchant services they are lower.
they have discount rate for active merchants($10,000/month), plus i am getting 1.5% cash back shopping with paypal debit card
Actually, if anyone thinks Paypal is 'great', please know that YOU are offered NO protection if you are receiving payment for a website, script, or anything that is considered a 'virtual' good. It's BS, and I've gotten screwed by someone who I knew very well after I sent a website - they retracted the payment and it wasn't covered by paypal due to the nature of the good being 'virtual'.
The thing that makes PayPal the most money is when you send between PayPal accounts, because they charge the same fees but it costs them nothing, just a variable in a local database. When you are getting money from someones credit card, guaranteed they have almost no margin on it.