Hello! My client always pays me through his Credit Card or probably his company's credit card to my paypal account. With the result, paypal charges more fees since credit card is involved. What other methods can I request my client to pay keeping his comfort in my mind. Please advise Thanks Jeet
You could give moneybookers a try. I know they charge a bit lower than paypal when it comes to credit card transactions.
Well, Moneybookers http://www.moneybookers.com/app/help.pl?s=m_fees charges 8% for credit card transaction while Paypal https://www.paypal.com/us/cgi-bin/helpscr?cmd=_display-fees-outside does it between 1.9% to 3.4% + $0.30.
Thank you Eddy and cool78 My question was more related to another way of smooth payments with less fees. I dont mind if it is within paypal but the only thing is that I want to give the client some other options than using his credit card. Again, the client is genuine and understands my position but I dont want to make things too difficult for him At the moment, he does not have to do anything rather than using his Credit Card from his drawing room to pay me. Thanks Jeet
i think paypal is the one that take lowest fees for cc transaction... and rest will take more then paypal.... so its better you stick to paypal if you dont want to pay more in fees...
Paypal because of its economic of scale is able to negotiate a lower rate for all the fees relating to credit card clearance and they are passing that on to you. If you are just looking for the lowest fees then you cannot find a better deal than Paypal. However, if you are only concerned about fees on your end then Moneybookers may not be a bad option although the customer would need to pay the fees and it is a little troublesome because of the two-step method, one to fund their account (by credit card by paying a 1.9% fee) and then paying you and pay a EUR0.50 fee. If both you and your customers are from the same country, check or ACH funds transfer may be cheaper.
Eddy Thanks again so much Ok, my client is from US and I am from India. I understand the hassle free paypal and its lower fees. My only problem is over a period of time because of the payments made by the customer through credit card, the transcation fees become more and more. For example, if he was to do a direct bank transfer or use his bank account to pay me instead of CC, i think it will result in saving some $. So I was wondering what best alternative I can give him to get him rid of paying through Credit Cards. I was looking at Xoom site as an option. They have mentioned $ 9.99 as standard fee.. not sure if there are extra fees if the client uses his master or visa card. But as you said, if i can find a solution within paypal, it would be too good. Thanks Jeet
Since you are from different countries, bank transfer would be out of the question. I am not sure what the dollar amount is for your case but Xoom can be an option since he is from the US. In which case, the sender would need to pay fees with Paypal, the sender does not pay any fees. I guess as long as he is comfortable with this arrangement, you could talk to him about trying it for the time being. The Xoom works if the dollar value is large enough to be cost-effective. For example, if your fees are $10 then you will receive ($10 - $9.99) $0.01 on Xoom while if he pays through Paypal, he just needs to pay $10 and you get $9.36 . For $30 : Xoom ($30 - $9.99) $20.01 and Paypal $28.68 For $50 : Xoom ($50 - $9.99) $40.01 and Paypal $48.00 For $100 : Xoom ($100 - $9.99) $90.01 and Paypal $96.30 For $200 : Xoom ($200 - $9.99) $190.01 and Paypal $192.90 For $250 : Xoom ($250 - $9.99) $240.01 and Paypal $241.20 For $285 : Xoom ($285 - $9.99) $275.01 and Paypal $275.01 For $290 : Xoom ($290 - $9.99) $280.01 and Paypal $279.84 So if you do not get more than $285 per transaction, Paypal would be cheaper. I do not know how much you are getting per transaction so it is not my place to comment. See what is convenient for you.
i think paypal is the best.... it is safe and secure.... i also use paypal but never cheated from this site.... if you can use other site for this then you also give charges to this site also... make payment direct through paypal account and not credit card...
Eddy Thanks for giving such painstaking and detailed reply I got it completely now. One big advantage is that I can safely tell my client to accumulate and pay me after the amount reaches 300$. He is too good to cheat and I have been dealing him for almost 1 1/2 year now !! So it makes sense to accumulate and then send through Xoom. Thanks once again Regards Jeet
Dipal.. Thanks. This is excatly something what I was looking for i.e payment solution within paypal. Can you please explain in bit detail please so that I may forward the same explantion to my client and he pays me directly. Thanks Jeet
Well, for $300, the cost saving is very marginal. Besides you need to check what the exchange rate by Paypal and Moneybookers to see which is advantageous to you. Trust is one thing but as you know the US$ is perpetually dropping so holding on the payment would mean that you might end up getting less money and that you need to delay getting your money which you could have withdraw and use.
Well, there is no fees difference if you accept a paypal balance or through a credit card if you have a premier or business account. You however cannot redirect paypal balance to your personal paypal account and credit card payment to your business/premier account as it would be against your contractual agreement with paypal.
Eddy Thanks once again. You are so good at answering queries. I studied the paypal site throughly after you wrote there is no difference if one holds premier account. Yes! you are right. Either way the maximum I would be paying is 3.9% + 0.30 USD. That makes me think once again not too BIG price for hassle free system. Moreover, this are the only fees, they dont charge anything for withdrawal to Bank account (except very low amount where the fees are very nominal) I was under the impression, that they charge very high only when Credit Card payment is involved. But as you say, no difference for a premier account which I have Thanks very much for a logical and understanding conclusion. Till Paypal thinks it can further reduce or any other reliable system having less than 3.9%, I think Paypal is one and only one solution. Thanks again Jeet