A friend cent me 75 cents a while back for no reason and I just noticed they took 34 cents out. 3% my ass. I guess 34 cents is how much it takes for even the smallest transaction to happen.
No, there is a higher percentage take on smaller transfers I think. It may also depend on the account type, etc. But yeah, that's a huge cut. haha
No, you are all wrong. If you bother to look at the fees page, it is 2.9% + $0.30 for US customers https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside and 3.4% + $0.30 for others https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside&countries=ROW . It is the 30cents which makes the small transactions looks very unattractive. The higher the dollar value, the 30cents would looks relatively small.
eddy2099, good to describe more. I tried to say same thing. But I didn't know exact fee for transaction in paypal. But No transaction fee for personal accounts.
the best option is to have 2 paypal accounts 1 personal were you dont have any accepting fee and a premier/business account for selling products and accepting large fees but you need 2 cc to create 2 accounts fro me personal account is best
I know those are the correct figures. But it's something that irritates me. We all know that the FTSE value of the US dollar is way down...so why do Paypal charge the US even less fees...shouldn't it be the other way around so that Paypal is receiving the same market value of money, regardless of currency? On the subject of Paypal - can anyone recommend another online payment provider with lower fees? Thanks
I don't think that the foreign exchange has anything to do with the fees. It is probably because Paypal was established in the US and they get preferential rates from the banks in the US and thus can charge lower. As for the other countries, they need to pay their intermediaries and other administrative charges and thus the fees are higher. Paypal is pretty much the lowest fees online payment provider around. There is Moneybookers.com which do not charge for receiving funds but the customers needs to pay fees to load their accounts and pay fees in order to pay the merchant. It is roughly about 1.9% for loading their account and EUR0.50 to send money. In the end, if I were the customer, I would just be put off by the inconvenience and the extra that I need to pay. Of course, the merchant benefits since there is no fees for moneybooker to moneybooker transfer. However if you opt to accept credit cards payment then the fees goes up to 8% for the merchant and nothing to the customer. Then there is e-gold which is even harder to use. There is Revolution Money https://www.revolutionmoneyexchange.com/ which is under beta now and it is free to receive and send money. I have not used it yet but like Moneybookers, you will need to load your account with money from your credit card before you can spend it. As long as your customers can look past all the inconveniences, these can be your alternative. But if you ask me, I seriously think that that could put a serious dent on your income. It might not be in your best interest to safe a few cents and lose customers. If you feel the fees to be too high then make sure you price your product or services higher than paypal fees so that you will make a profit.
I've pretty much described what is on the two links already. Yes there is no fees with a personal account but I am sure you already know that the Personal account is not to be used for making money through and that means you cannot sell anything or provide any services and get paid to your personal account. The personal account is mainly for people who have nothing to sell and just want to spend money in and Paypal earns from the transaction from the seller. If Paypal offers everything for free, they would have closed down long ago as it is very expensive to offer what they offer. If you do more than spend money on Paypal, you need a premier or business account.
If you are a Verified Business Member in the United States, micropayments might be an option as well. They take 5% and a nickel out of the transaction. So it would be about a dime on a dollar transaction. PayPal has to make money as well and they share that transaction fee with the card associations, etc. Everyone gets a piece of the pie, just the slices seem to be getting smaller.
It is important to note that Micropayments is valid only for receiving payments from members who are from the same country as you and they do not use a credit card to fund their account. https://www.paypal.com/helpcenter/m...ps=solutionPanels&solutionId=13088&isSrch=Yes
Other than Paypal ripping off international customers, that can only be the logical reason, as banking rates in the UK for a company of that size would be minimal. Our company turns over £3m+ and pays 1.05% on Vista and 1.07 on Delta transactions. Put that into comparison with what Paypal will turn over in a year, and the international banking rate changes doesn't seem to fully explain it. Ah well, just another way for eBay to rip you off - the seller pays eBay, then the seller pays their sister company the fees for paying for the item. Oh, the joys. Thanks for the info. +rep added.