Paypal Fees

steve1500

A search of the forum suggested this is the best place to ask this question.

We sold an item on Ebay and received the money through Paypal.

Total price including P &P was £172. Buyer has paid and is completely happy.

Paypal have charged me £6.05 for the privilege of receiving the money. Contacted
paypal they just said that is the price for receiving the money.


Surely that cannot be correct


Thanks

TAG

It is.
You pay 3.4% of £172.00, which is £5.85 plus 20p = £6.05

soolin

Yes it is correct- they do not hide the fact that they make a charge. It is a fairly standard amount for the sort of service they provide.

Incidentally if you are new to using paypal then i urge you to check out the sticky postage thread on this board- your received money is not safe unless you comply with seller protection rules- and now item has been sent you must keep both proof of posting and proof of delivery for a minimum of 180 days to be completely safe.

campdave

steve1500 wrote: »

A search of the forum suggested this is the best place to ask this question.

We sold an item on Ebay and received the money through Paypal.

Total price including P &P was £172. Buyer has paid and is completely happy.

Paypal have charged me £6.05 for the privilege of receiving the money. Contacted
paypal they just said that is the price for receiving the money.


Surely that cannot be correct


Thanks

Did you think paypal was a public service?

steve1500

campdave wrote: »

Did you think paypal was a public service?

Sure we would all love it if our banks helped themselves to 3% of our salary when it got paid in!!!!


First time I have been billed for receiving money. Received money through Paypal a few times with no charges before!

RFW

steve1500 wrote: »

Sure we would all love it if our banks helped themselves to 3% of our salary when it got paid in!!!!

With fees and underhand bank charges I'm sure they end up with more than that even now.
Paypal is fairly competitive as far as online payment services go. You could have always asked for a bank transfer but I doubt your buyer would have been that trusting.

campdave

steve1500 wrote: »

Sure we would all love it if our banks helped themselves to 3% of our salary when it got paid in!!!!


First time I have been billed for receiving money. Received money through Paypal a few times with no charges before!

Banks use the money in your account to loan to others and make their money that way.

How do you propose they run the service without charging seller or buyer?

A percentage of the transaction is charged by all credit card handlers. That's why some smaller shops have a limit of £5 or £10 on credit card purchases.

jeffuk

Yes you can receive money via Paypal as a "Gift Payment", this will incur no fees, but is aimed at family and friends. When someone buys off you they want the "Buyer Protection", this is what your fees pay for, buyers "Peace of mind".