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PayPal to Start Charging for Transfers

djmdjm Posts: 1,565 ✭✭✭✭✭
in U.S. Coin Forum

Instant Transfer pricing update

On Nov. 7, Instant Transfers will cost 1% of the amount you transfer, with a maximum fee of $10.00. Use your eligible debit card for Instant Transfers. Transfer times vary by bank and may take up to 30 minutes.

Will have to pay to withdraw your money or get their Debit Card. I guess PayPal wants to be your bank.

Comments

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭

    @djm said:
    Instant Transfer pricing update

    On Nov. 7, Instant Transfers will cost 1% of the amount you transfer, with a maximum fee of $10.00. Use your eligible debit card for Instant Transfers. Transfer times vary by bank and may take up to 30 minutes.

    Will have to pay to withdraw your money or get their Debit Card. I guess PayPal wants to be your bank.

    Fake news.

    This is a new feature that doesn't currently exist. It is simply a wire transfer charge.

    The old methods are unchanged and still free. You can transfer to your bank account for free, it just takes 24 hours instead of 30 minutes or less.

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭
    edited October 18, 2018 2:07PM

    @BryceM said:
    Between this, higher auction commissions, and the souring of eBay in general, it’s much harder to sell coins for the average collector than it was 5-10 years ago.

    Just FYI, this is a misunderstanding. It remains free to withdraw your money from PayPal, it just takes 24 hours.

    Edited for accuracy

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭
    edited October 18, 2018 2:08PM

    1 PLEASE NOTE THAT PAYPAL IS NOT STARTING TO CHARGE FOR TRANSFERS. They are simply changing the OPTION of instant transfer to a $10 or less fee.

  • Aspie_RoccoAspie_Rocco Posts: 3,604 ✭✭✭✭✭

    What?!? $10 fee per transfer!?! ;)
    Lol

    @jmlanzaf said:

    1 PLEASE NOTE THAT PAYPAL IS NOT STARTING TO CHARGE FOR TRANSFERS. They are simply offering the OPTION of instant transfer for a $10 or less fee.

    https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/

  • MorganMan94MorganMan94 Posts: 1,330 ✭✭✭✭✭

    @jmlanzaf said:

    @BryceM said:
    Between this, higher auction commissions, and the souring of eBay in general, it’s much harder to sell coins for the average collector than it was 5-10 years ago.

    Just FYI, this is a misunderstanding. This is neither a fee increase or a new fee, it's just a new service. It remains free to withdraw your money from PayPal, it just takes 24 hours.

    Not true, PayPal currently offers an instant transfer to debit cards for .25 cents. Starting November 7th that fee will increase to 1% of the transfer.

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    This thread can only get better...

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭
    edited October 18, 2018 2:07PM

    @MorganMan94 said:

    @jmlanzaf said:

    @BryceM said:
    Between this, higher auction commissions, and the souring of eBay in general, it’s much harder to sell coins for the average collector than it was 5-10 years ago.

    Just FYI, this is a misunderstanding. This is neither a fee increase or a new fee, it's just a new service. It remains free to withdraw your money from PayPal, it just takes 24 hours.

    Not true, PayPal currently offers an instant transfer to debit cards for .25 cents. Starting November 7th that fee will increase to 1% of the transfer.

    https://www.google.com/amp/s/techcrunch.com/2017/06/20/instant-bank-transfers-are-coming-to-paypal-and-venmo/amp/

    The main point is that it does not eliminate free transfers. I'll correct

  • MorganMan94MorganMan94 Posts: 1,330 ✭✭✭✭✭

    @jmlanzaf said:

    @MorganMan94 said:

    @jmlanzaf said:

    @BryceM said:
    Between this, higher auction commissions, and the souring of eBay in general, it’s much harder to sell coins for the average collector than it was 5-10 years ago.

    Just FYI, this is a misunderstanding. This is neither a fee increase or a new fee, it's just a new service. It remains free to withdraw your money from PayPal, it just takes 24 hours.

    Not true, PayPal currently offers an instant transfer to debit cards for .25 cents. Starting November 7th that fee will increase to 1% of the transfer.

    https://www.google.com/amp/s/techcrunch.com/2017/06/20/instant-bank-transfers-are-coming-to-paypal-and-venmo/amp/

    That article backs up what I just said, it is one year old and mentions the .25 cent transfer fee. PayPal just changed that fee effective 11/7 to 1% with a cap of $10.

  • KollectorKingKollectorKing Posts: 4,820 ✭✭✭✭✭
    edited October 18, 2018 2:06PM

    PP is usually prompt in emailing members of major changes. I have yet to receive their email on the above matter.

    & I did a pp transaction this am. :o

  • 291fifth291fifth Posts: 24,667 ✭✭✭✭✭

    @BryceM said:
    Between this, higher auction commissions, and the souring of eBay in general, it’s much harder to sell coins for the average collector than it was 5-10 years ago.

    It's much harder to sell anything than it was 5-10 years ago.

    All glory is fleeting.
  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭

    @MorganMan94 said:

    @jmlanzaf said:

    @MorganMan94 said:

    @jmlanzaf said:

    @BryceM said:
    Between this, higher auction commissions, and the souring of eBay in general, it’s much harder to sell coins for the average collector than it was 5-10 years ago.

    Just FYI, this is a misunderstanding. This is neither a fee increase or a new fee, it's just a new service. It remains free to withdraw your money from PayPal, it just takes 24 hours.

    Not true, PayPal currently offers an instant transfer to debit cards for .25 cents. Starting November 7th that fee will increase to 1% of the transfer.

    https://www.google.com/amp/s/techcrunch.com/2017/06/20/instant-bank-transfers-are-coming-to-paypal-and-venmo/amp/

    That article backs up what I just said, it is one year old and mentions the .25 cent transfer fee. PayPal just changed that fee effective 11/7 to 1% with a cap of $10.

    Yes. I edited the details.

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Thanks for the heads-up !!! :)

    Timbuk3
  • BryceMBryceM Posts: 11,851 ✭✭✭✭✭

    Thanks for the clarification. Good to know!

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭

    @ErrorsOnCoins said:
    I don't see why it matters, as soon as I get a decent PayPal balance, I just spend it on a coin :D

    You should NEVER do that. You're throwing away perfectly good cashback bonus on your credit card.

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭

    @1peter1223 said:

    @jmlanzaf said:

    @ErrorsOnCoins said:
    I don't see why it matters, as soon as I get a decent PayPal balance, I just spend it on a coin :D

    You should NEVER do that. You're throwing away perfectly good cashback bonus on your credit card.

    EXACTLY ! I always pay with my paypal ( credit card ) and get CC points( cash back ) as well as eBay bucks on coins .

    It's crazy how much a little thing like that can cheer me. LOL. I think that extra 2% makes me happier than the 10% eBay bucks!

  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭

    @jmlanzaf said:

    1 PLEASE NOTE THAT PAYPAL IS NOT STARTING TO CHARGE FOR TRANSFERS. They are simply changing the OPTION of instant transfer to a $10 or less fee.

    I can't hear you.

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭

    DISAGREE

    @BlindedByEgo said:

    @jmlanzaf said:

    1 PLEASE NOTE THAT PAYPAL IS NOT STARTING TO CHARGE FOR TRANSFERS. They are simply changing the OPTION of instant transfer to a $10 or less fee.

    I can't hear you.

  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭
    edited October 18, 2018 5:02PM

    :s:#:D>:) Just testing

  • jmlanzafjmlanzaf Posts: 36,284 ✭✭✭✭✭

    @Paradisefound said:

    DISAGREE

    @BlindedByEgo said:

    @jmlanzaf said:

    1 PLEASE NOTE THAT PAYPAL IS NOT STARTING TO CHARGE FOR TRANSFERS. They are simply changing the OPTION of instant transfer to a $10 or less fee.

    I can't hear you.

    oh, no...Paradise Lost

  • blitzdudeblitzdude Posts: 6,497 ✭✭✭✭✭
    edited October 18, 2018 5:13PM

    buy low sell high sheeple...….semper

  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭

    You forgot the Fi ;)

    @blitzdude said:
    buy low sell high sheeple...….semper

  • blitzdudeblitzdude Posts: 6,497 ✭✭✭✭✭

    Noice, the russians must of stole the fi. tweet tweet. I declare myself king nothing. lol

    PS I love paypal, nothing like interest free loans. B)

  • jdimmickjdimmick Posts: 9,772 ✭✭✭✭✭

    This thread scared me for a minute, as I transfer anywhere from 2k to over 10k at times. Cost would be tuff. But I just use the regular transfer to bank, if sent by 7pm eastern on Mon thu Thur its usually in the bank by 8 am the next morning

  • tonedgoldtonedgold Posts: 15 ✭✭

    I am a Dave Ramsey fan, so use to not have a credit card. Then I figured up how much I was losing each month by not using one. I hardly ever get less than $300 back each month now.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,552 ✭✭✭✭✭

    I jokingly titled it Pay Pow ( years ago) as a teaser. It's not that expensive to have as an alternate payment source.

    ``https://ebay.us/m/KxolR5

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭
    edited October 18, 2018 7:55PM

    If PayPal had started to charge
    A transfer fee larger than large
    I'd driven straightway
    Right to San Jose
    To behead 'em like Madam Defarge.


    Here's a warning parable for coin collectors...



  • VanHalenVanHalen Posts: 4,330 ✭✭✭✭✭

    I'll be damned if I'm going to let Paypal take my money. I'm cleaning out my account now. :/

  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭

    Cash.me (Square) charges 1.5% for instant transfers. Zero for next day. Just sayin'.

    Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Well... I am glad we got that cleared up :D:D I guess I will not worry about a fee for a process I have never used. ;) Cheers, RickO

  • ashelandasheland Posts: 23,706 ✭✭✭✭✭

    @tonedgold

    My YouTube Channel

  • Cougar1978Cougar1978 Posts: 8,759 ✭✭✭✭✭

    Many in coin business transfer pp funds to bank acct bc they need money eat, pay bills, supplement pension and social security income. Others for buying deals at coin shows. They are just trying to survive in a tough world.

    Coins & Currency
  • RogerBRogerB Posts: 8,852 ✭✭✭✭✭
    edited October 19, 2018 1:31PM

    RE: "PayPal to Start Charging for Transfers"

    Next, it will be luggage, or seat selection, or a timed loan of the restroom key..... ;)

  • ElmerFusterpuckElmerFusterpuck Posts: 4,786 ✭✭✭✭✭

    Jeez, don't make me use up all the tin foil again! Haven't been able to bake cookies since the last thread about the gubmint and the Civil War treasure.

    10-4,
    Erik
    My registry sets

    My Instagram pictures
  • JBKJBK Posts: 16,358 ✭✭✭✭✭

    @tonedgold said:
    I am a Dave Ramsey fan, so use to not have a credit card. Then I figured up how much I was losing each month by not using one. I hardly ever get less than $300 back each month now.

    I like listening to him sometimes and there are lots of people who desperately need to take his advice. But, he is a bit overly strict at times, such as the situation you mentioned.

    If (and that is a huge IF) a person is disciplined and will pay off their credit cards every month, it is a bit senseless to not run everything through a credit card for the points or cash back.

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