paypal fees

i was just wondering why 99% of the stuff sold on here using paypal the person selling ask for the 3%paypal fee. why should i have to pay your fee so you get your money faster.

I do not like PP...but we almost have to use it out of convenience.

 

Taking checks is caveman style.

Its not so I can get paid faster, its so you can get your stuff faster. I'm perfectly happy to wait for a money order or cashier's check in the mail and would rather not fund the beast that is Paypal.

because there are fee's when receiving money but not when sending out.

 

with all the scams and shady people out there , 3% goes a long way

because there are too many people trying to rip others off. PP is a bit more safer. Personally, I find it stupid to add the 3% for PP. you should have that IN YOUR PRICE already. If you want to give someone a better price for paying cash, than go for it, otherwise, that's like going to the store and having them charge you their 3% for using your Visa or MasterCard (though they technically cannot).

LOLZ that the op thinks it's so the seller can get paid faster

i have a quick question about paypal.... when looking at it pending, once it says approved or whatever, does it immediately withdraw from your account? or when does it finally withdraw the money from your account?

check your account, it's no different than using your check card. usually will come out in 1 or 2 bus. days and deposited within 72 banking hours.

I think 3% is steep on paypals side.

 

I don't charge a handling fee (price of box/tape/packing material and labor)

 

So I think 3% pay pal is acceptable

I think 3% is steep on paypals side.

Its not that far off from what merchant accounts charge businesses for credit card usage... and paypal isn't making money on interest like credit cards do. For the most part, its their sole income avenue.

I think 3% is steep on paypals side.

 

I don't charge a handling fee (price of box/tape/packing material and labor)

 

So I think 3% pay pal is acceptable

you should include it already in your price.

 

guess what, I have a retail store and sell things online all the time too. cost of business includes all fees, packing, boxing, etc. only thing extra I MAY charge is shipping, depending on location or item.

 

3% paypal isn't steep. you are doing all hand entered (not card present or swiped/electronic) transactions. In most cases, at best, i'd say Visa/MasterCard would label these transactions as EIRF or depending on what kind of card you are using, it could be even worse. all manual transactions pose a greater risk of fraud, human error, etc. that means the cost goes up to process that card. Not only that, if you happen to use a mileage or rewards card of some kind, Visa and MasterCard charge additional rates for those to pay for the mileage and rewards. Paypal charges a set 3% fee regardless, so really when you look at the grand scheme of things, that's pretty minimal. I know when I set up merchants to accept Visa/MasterCard etc, most hand keyed transactions were rated a little less like 2.4-2.8% with a $.25-.50 transaction fee depending on card type. However, if it was a specialty card, those rates could jump up as high as 3.5%! they are just averaging out and making it a flat fee. Sure, I can get better rates elsewhere, however, I cannot always verify the person's card info is correct so that is why PayPal will be more secure because they do check/verify address, name info, etc before you can add your card information or banking information. what sucks is that they still charge me 3% for direct BANK transfers. most ACH transactions only cost $.25-.50, especially with their volume, it's more like $.10! that's where they make all their money!

you should include it already in your price.

 

guess what, I have a retail store and sell things online all the time too. cost of business includes all fees, packing, boxing, etc. only thing extra I MAY charge is shipping, depending on location or item.

I don't think you should have to include it (paypal fee) in your pricing. I do think, if its not included, it should be clearly stated in the original for sale post, auction, add, ect.

 

Most people don't have retial stores and can't absorb fees like that without eating too far into their profts. What works for you and your business is not necessarily how individuals want to do business for themselves.

Meh, I'll happily pay it if they give me another option that is fee free.

I'd rather pay 3% than send a check, wait for it o get there, wait for it to clear and then ahve it sent. With PP, my item can be out within a day or so.

I quit using paypal some time ago, as I will not pay the fees associated. I'll write a check.

I don't think you should have to include it (paypal fee) in your pricing. I do think, if its not included, it should be clearly stated in the original for sale post, auction, add, ect.

 

Most people don't have retial stores and can't absorb fees like that without eating too far into their profts. What works for you and your business is not necessarily how individuals want to do business for themselves.

sorry, i take the item, add the paypal fees and post up the price. been ripped off too many times, i usually only will take payment via PayPal. I certainly won't accept a check because it takes way too long to clear and honestly, it can still come back later if it ends up being fraud.

 

i worked for 7 yrs in banking, collections, check and loan collections, visa/mastercard, etc. i saw ALL the crap that happened on the back end and watched too many of my customers get defrauded. no thanks. Not saying PayPal is the ultimate way to go, but if it's out of state, country, or area where they can't just give me CASH, than.... well, it's safer than just an email with a card number or a personal check. even cashiers checks can be fake now a days.

 

*edit* and additionally, unlike some of you guys who don't have to deal with the insane shipping issues like i do, you can sell items to whomever. however, if i can't sell something here locally first, THAN I'll post it up in the general forums.

sorry, i take the item, add the paypal fees and post up the price. been ripped off too many times, i usually only will take payment via PayPal. I certainly won't accept a check because it takes way too long to clear and honestly, it can still come back later if it ends up being fraud.

The UCC disagrees with you as long as its a single party check.

really, i've seen it happen. check is posted to the account, 3 wks later, it comes back.

really, i've seen it happen. check is posted to the account, 3 wks later, it comes back.

Oh it will come back. Banks will always try to pass on the loss and often get away with it.

 

A quick quotation of UCC will get it sent back the other way.

On a forged drawer's signature the drawer's bank is liable after acceptance/passing of the midnight deadline.

 

A forged indosers signature is a violation of both presnetment and transfer warranties and that will get sent back up the chain to the person who last dealt with the forger (or the forger, but they can never be found). Hence, why I said one party.

 

/Legal nerd away!

It's called "cost of doing business":rolleyes: You guys ever hear of a thing called markup?? How bout profit? Does the word "business" ring a bell?

There are some really naive people on this board,holy moly!

It's called "cost of doing business":rolleyes: You guys ever hear of a thing called markup?? How bout profit? Does the word "business" ring a bell?

There are some really naive people on this board,holy moly!

exactly. that's why i said, you add that cost in what you want for the item you're selling.

 

if you want to make $10 off something, you add $10 to the base price, multiply it by 1.03 and there you have your selling price. if it's an odd amount, then round up or down to your liking. Factor in all your costs like the packaging and materials if you need to.

 

Oh it will come back. Banks will always try to pass on the loss and often get away with it.

 

A quick quotation of UCC will get it sent back the other way.

On a forged drawer's signature the drawer's bank is liable after acceptance/passing of the midnight deadline.

 

A forged indosers signature is a violation of both presnetment and transfer warranties and that will get sent back up the chain to the person who last dealt with the forger (or the forger, but they can never be found). Hence, why I said one party.

 

/Legal nerd away!

interesting....

 

i working in banking for 7 yrs on that side of the business- collections, consumer lending (boring), and mostly visa/mastercard processing. however, it's been 3 yrs since now, and they always change the regs and rules. found that out the hard way yesterday....

It's called "cost of doing business":rolleyes: You guys ever hear of a thing called markup?? How bout profit? Does the word "business" ring a bell?

There are some really naive people on this board,holy moly!

Nah, its called I have an extra set of brake pads and I want $50 for them. HOLY SH!T, that price doesn't include shipping If the buyer wants to pay with paypal, no problem. In my classified add (not my advertisement circular that was part of my marketing budget and overhead costs) I indicated buyers should add 3% for paypal. Holy moly, some people can't think outside of the box.

i was just wondering why 99% of the stuff sold on here using paypal the person selling ask for the 3%paypal fee. why should i have to pay your fee so you get your money faster.

 

And for that matter, what is this bull**** scam where the buyers pays shipping? Why should us buyers have to pay your fee so the item gets here faster? And insurance for the shipping on top of that?!?!?

 

Seriously though... Paypal and shipping (and insurance) all cost money. The seller can offer the item for $100.00 plus fees, or they can sell it for $122.03 paypalled, shipped, and insured, and then offer discounts for cash, local pickup, whatever. But either way, if you use a payment processor, or a shipper, they have to get paid, and the seller is going to charge the buyer for the value of the item plus the cost of those services.

 

Either way, the buyer is going to pay the cost of the item plus the costs of the services that make the transaction possible.

 

Basically it sounds like you're complaining that the sellers are asking you to do some extra math.

Nah, its called I have an extra set of brake pads and I want $50 for them. HOLY SH!T, that price doesn't include shipping If the buyer wants to pay with paypal, no problem. In my classified add (not my advertisement circular that was part of my marketing budget and overhead costs) I indicated buyers should add 3% for paypal. Holy moly, some people can't think outside of the box.

 

No ,I got that part.Private sale is not what I'm talking about.There you get wha t you can.

I'm talking a regular business transaction like AKLGT.

LOLZ that the op thinks it's so the seller can get paid faster

 

 

you could wait for a check or money order. so yea paypal get you your money faster