How is everyone today? I have a question and didn't really feel like searching the board over to find if someone already asked, so this could possibly be dup. Anyways, If i do a job for say $30, send a paypal request, get the $30 to my paypal account, A) Am I charged for that, and B) Am I charged to move it to a bank account. Then, If yes and yes, Would I be better off to buy a money pack for a green dot card (by better off, i mean not charged as much)? Thanks -Lee
You will not be charged for moving your funds to your bank account,withdraw is free of charge for US banks.
So where does paypal get their money in this case. Obviously they have to get something, otherwise they would be a REALLY GOOD Samaritan sort of service, which i doubt is the case. NOW, could it be no fees since I have a basic account, I noticed up grading the account says low fees, but idk... Thanks for the help
If you have a personal account yes there is no fees for their service but if you often get money for your services i recommand to upgrade to premier to avoid limitations.
Personal accounts take less or no fees on transactions, but they have limits. The most annoying limit is that you can send a total of $150 (TOTAL FOR ALL TIME BEING), before you need to upgrade to the other account types.
Paypal is big scammers, I just converted 80 CAN to USD and they ripped me $4.06 CAN!! No real bank charges that much for a currency exchange. My account said $91.22 CAN (11 of it was in USD) Converted the rest of the CAN to USD. Now I have Total $87.16
Paypal screw you on the conversion rates when withdrawing money lol. They knock off $0.2 HKD for every $1 USD I convert.
They earn in what is called as call money markets - sort of cash management coupled with very short term money market trading
paypal have a dark side from where they earn more money... and since your new to paypal so i will just say becareful... and be ready for any kind of suprise...
Yep, that's how they make money. The transfer is "free", but the exchange rate is poor - so in reality it costs.
well also, the money in their accounts (your money) is being used to invest and gain interest while its in the bank....that, credit cards (backed by account money),and loans are the ways banks make money. (even online banks) They SHOULD NOT need a dark side, but they seem to have one.
Like any financial institution, Paypal should of course be entitled to find ways to make money in order to finance their operations and provide the 'free' services to their personal paypal customers.
paypal isn't evil -- most people just don't understand the risks involved in being a merchant (ie: you assume the risk of cost when someone defrauds you) -- paypal is geared toward protecting the buyer, not as much the seller. You'd have to look at their fee schedule for an exact breakdown, but it is something like .20 cents initially, then some percentage (2.5 - 4%) on the transaction amount (this is still much lower than what a merchant would pay with a traditional credit card company (ie: VISA)). ...and whoever thinks the bank you keep your money in isn't out there earning interest on it while you're not using it obviously doesn't understand financial services.
I don't think there is any dark side to paypal , only way they could earn is too deposit there money in banks which should not be considered any dark method.
Paypal are very good at sorting problems. I suggest you send them an email through their support system.Just click Contact Us at the bottom of any page, then click on Contact Customer Service
PayPal is not the best payment processor...however it works pretty well. I've had some troubles with it in the past, but all resolved now, and also the fees they charge seem getting higher and higher...(for the free PayPal account)
Paypal is certainly good but there are few negative points as well. The main problem is chargebacks. Paypal always favor buyers more than a seller.
depends on the account you have if its personal you can send money without the payee incurring fees. Premier and business accounts usually charge per transaction to the person receiving funds unless you do a masspay in which you can send unlimited amounts of money with these accounts for merely a dollar. I don't think paypal ever charges for you to withdraw money.