Paypal charges - significant amount of $

Just wondering how other deal with this issue ?

I do a lot of dealings via Paypal, and the charges from paypal ( when others send money to me! ) is becoming more significant these days.

Like when someone send me 180, i get charged about 6.50 ! wow, thats alot of money, can easily hit a few hund a month!

How do others deal with this ? charge it to ur customers ?

 

Fees to collect money is cost of doing business. For a long time I only accepted payment by mail (check/money order). Soon as I finally decided to jump on the PayPal bandwagon my profit triples because of increased sales despite having to eat the fees.

Increase your sales price of your product by 4% to cover the fees. If they pay with check offer them a discount.

PayPal is still cheaper for a small business compared to renting a terminal, paying monthly maintenance, and if your sales are low your fees will probably be higher than paypal.

 

If you receive 400$ then have to pay 15.90$ to paypal,i paid 17.00$ to paypal today

 

I use other payment processor

 

but they're not as popular as paypal.

 

If all the charges get 10% of the total amount then I'll still use paypal .. it's the best payment processor .

 

Nothing much to say here I guess, except that business is business.

Did you try with your own bank and open ecommerce credit card. Most of the banks can offer you something...

Jean-Marc

 

PayPal is a business. They need to make profits as well.

 

all payment processors have some fees that you have to cover but you can always increase the fees for this % ad give discount for payments where you do not have such fees

 

There is option called "mass pay" if the sender used mass pay option to pay you ,then u won't be charged and sender will be charged $1.

 

Do you have a business account or a personal account? To avoid fees I have both a business account (in my husband's name) and a personal account in my name. One will accept credit cards and the other will not. I send both paypal address to a client when requesting payment. This way they can pay depending on their choice of payment type. My personal account does not charge me a fee for incoming funds.

 

I think all processors that are safe and good will have fees... That will never change... Even offline processors charge and to be honest my cc processor at my company charges WAY more than paypal so I can't complain too much.

 

Honestly, PayPal is quiet cheap. Take a look at payment processors such as 2CheckOut.com, they charge like 6.6% plus .50 or something around there. Every payment we get through them gets quiet a huge fee. We're looking to move to CDGCommerce quiet soon.

 

Paypal is a for-profit organization and they do have bills and employees to pay. They are pretty much not a charity.

I supposed that if you do not think that the few percentage that you paid to paypal for each sale is worth the while or that you are not making profits from your customers more than what paypal makes from you then look for some other solutions.

In business there is always costs and you need to 'reward' those who help you. Do you think that if you do not use Paypal, you would have made that $173.50 in the first place ?

I am paying a lot more than what you are paying as I am using Plimus.com which can be as high as 15% but it is the peace of mind and I am very sure that if I do not use them, I would not have made money over the internet so there is really nothing to complain on my part.

 

PayPal is cheap compared to the alternatives and has no monthly or set up fees.

If you are paying a few hundred a month in fees that means you have sales of over $10,000/month! Congratulations!

 

Yeah I am completely agree with you EDDY. After all business is business and PayPal is not a charity

 

the reason we hate these processing fees is that we don't want to part with our hard earned money...it's in our unconscious mind..that if I earn $100, I deserve the right to have every penny of it. The same reason we don't like taxes and so on...

 

Thanks for all the insights.