[jessejames]

I haven't used Paypal so I did a liitle research on their site but still have one question?
If I use my credit card to send money to another individual it says the fee is 2.9% is that the total fee or is that 2.9% for me sending using a credit card and 2.9% for the person receiving the money.
Thanks
jesse clark

 

[Kent Lufkin]

I haven't used Paypal so I did a liitle research on their site but still have one question?
If I use my credit card to send money to another individual it says the fee is 2.9% is that the total fee or is that 2.9% for me sending using a credit card and 2.9% for the person receiving the money.

Although their policy could have changed recently, historically the fee was only imposed on the person receiving the money, not the person paying it. Thus, if you bought something from someone for $100 using your credit card through PayPal, your card would be charged for the $100 purchase price. The person who sold it to you would only get $97.10, once the fee was debited from the transaction.

That's why some sellers add a PayPal fee to items they offer in the Classifieds. For me, I don't mind paying the fee as the price for the convenience of accepting credit card payments and for getting payment almost immediately.

K

 

[Old Man]

Why don't you just send your friend a money order. It's safer that way.

 

[Kent Lufkin]

Why don't you just send your friend a money order. It's safer that way.

Not so. First of all, there's a charge for getting a money order from most banks. Secondly, there's a time lag while the post office delivers the money order. Finally, there's no guarantee you'll get your money back if the person you send it to decides to stiff you and not send what you thought you were buying.

With PayPal, there's no fee for the buyer and he's protected in case the transaction goes south.

K

 

[Luke Filmer]

The seller pays the fee of 2.9%. The buyer does not pay a fee to PAYPAL.

 

[NomDeTrout]

like Luke said, seller or sender pays the fee.

So if you are sending someone $1000, the receiver will receive $1000 while your account will show that $1029 came out of your credit card.

 

[Kent Lufkin]

like Luke said, seller or sender pays the fee.

So if you are sending someone $1000, the receiver will receive $1000 while your account will show that $1029 came out of your credit card.

I think you've got it backwards. If Jesse's sending someone money, then he's the 'buyer', not the 'seller'. The seller is the person receiving the money and he'll only get $971.00.

K

 

[SSPey]

With PayPal, there's no fee for the buyer and he's protected in case the transaction goes south.

Bull

I purchased an item on eBay. It all seemed legit - a selling with good feedback. Well, someone had hijacked that eBay account and sold me a non-existent rod. I paid via paypal (eBay and paypal are joined at the wallet). The "seller" took my money and ran. Neither eBay nor Paypal would own up, even though this was an issue entirely under their control - or out of their control - considering that someone hacked into their system to rip people off. I've heard enough bad stories about paypal, they just suck. I wish someone would hack them into oblivion and replace them with a middleman that backs up their claims.

 

[J3000]

Bull

I purchased an item on eBay. It all seemed legit - a selling with good feedback. Well, someone had hijacked that eBay account and sold me a non-existent rod. I paid via paypal (eBay and paypal are joined at the wallet). The "seller" took my money and ran. Neither eBay nor Paypal would own up, even though this was an issue entirely under their control - or out of their control - considering that someone hacked into their system to rip people off. I've heard enough bad stories about paypal, they just suck. I wish someone would hack them into oblivion and replace them with a middleman that backs up their claims.

That's why you always use a credit card when paying via paypal. Something goes south and you don't like what paypal is telling you about it, you just call your credit card company and start a complaint there. Most of the time they will reverse the charges.

 

[J3000]

Lot of confusion on this thread.

-If you are buying something from ebay or somewhere the seller pays the fee. So if the cost is $100, you pay $100 and the seller receives ~$97.

-If you owe a buddy $100 and want to use paypal to send it to him, you can decide if you want to pay the fee ($103 comes out of your account and he gets $100) or if you want him to ($100 comes out of your account and he gets $97).

-When sending someone money for a non-transaction purpose (you owe a buddy $100 like above) there can also be some differences depending on how you make the payment. Funding the payment via credit card will always incur fees. On some accounts and on some transactions using paypal balance or a transfer from a bank account may not incur fees.

-As an ebay seller if you accept paypal you virtually always get charged a fee no matter how the transaction is funded.

Basic info here:

https://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside

Read more on Paypal's "terms of use" pages for specific info.

 

[Randy Diefert]

Kent has it right Jesse.

 

[Kent Lufkin]

Bull

I purchased an item on eBay. It all seemed legit - a selling with good feedback. Well, someone had hijacked that eBay account and sold me a non-existent rod. I paid via paypal (eBay and paypal are joined at the wallet). The "seller" took my money and ran. Neither eBay nor Paypal would own up, even though this was an issue entirely under their control - or out of their control - considering that someone hacked into their system to rip people off. I've heard enough bad stories about paypal, they just suck. I wish someone would hack them into oblivion and replace them with a middleman that backs up their claims.

Sorry to hear of your bad experience. Nonetheless, that doesn't mean all PayPal experiences are the same.

Over the last year or so, a couple of friends have bought goods that either didn't exist or from a seller who decided not to follow through. In both cases, PayPal eventually reversed the charge and they were made whole (not counting the fact that both processes took about a month and there's the time value of money to consider.)

K

 

[jessejames]

I knew I wasn't the only one confused:hmmm:
The question I have is alluded to in Josh's post. If I owe my buddy Joe in seattle 100.00 and I want to use paypal AND my credit card it appears in the pay pay info that I pay a 2.9% fee only if I use a credit card if I use money in my paypal savings account I don't pay any fee. So the question is still if I use my card and pay Joe the 100 smackers I owe him what are the fee's.
So far it just isn't clear to me.
I need to send 1200.00 to an individual and I want to use my card to get the points. I need to decide if getting the points are worth it. It wont be if I have to pay nearly 6% to send the money.
Blessings
jesse clark

 

[scottybs]

Be careful with paypal... I just had my account hacked... although I recieved my money back it was about a 2 week process with no access to my funds... for that I cancelled paypal account... just my $.02

-Scott

 

[Old Man]

Well right now my wife is getting the run around from that shitty Co..

I don't buy anything unless I can see it and then pay cash for it..Buying shit on line has never been my bag. Call me old skool but that's just the way I am.

 

[DiejehHehdudhhe8373737]

.

 

[DiejehHehdudhhe8373737]

.

 

[jessejames]

AT
So The fee is mine because I choose to use the credit card. My friend gets his 1200. and I get a 1236.00 charge to my card. Right?
If this fictional buddy doesn't have a pay pal account how does he get is money if all I do is enter his e-mail address?
All this cyber-finance is too much for an old troglodyte like me.
Blessings
jesse

 

[DiejehHehdudhhe8373737]

.

 

[Kent Lufkin]

AT
So The fee is mine because I choose to use the credit card. My friend gets his 1200. and I get a 1236.00 charge to my card. Right?
If this fictional buddy doesn't have a pay pal account how does he get is money if all I do is enter his e-mail address?
All this cyber-finance is too much for an old troglodyte like me.
Blessings
jesse

See alpine's no-fee explanation 4 or 5 posts up.

K