Paypal tightening the screws on Personal accounts
Barry
Posts: 10,100 ✭✭✭
Got this email today:
Currently PayPal's policy states that Personal Accounts are able to receive
$1,000.00 USD per month from eBay, auction, or website sales.
To ensure a level playing field for all PayPal members who sell online,
PayPal is reducing the amount Personal Accounts are able to receive.
Beginning November 4, 2004, the receiving limit for all Personal Accounts
will be $500.00 USD per month.
How long before Personal accounts can't receive any money without charge?
Currently PayPal's policy states that Personal Accounts are able to receive
$1,000.00 USD per month from eBay, auction, or website sales.
To ensure a level playing field for all PayPal members who sell online,
PayPal is reducing the amount Personal Accounts are able to receive.
Beginning November 4, 2004, the receiving limit for all Personal Accounts
will be $500.00 USD per month.
How long before Personal accounts can't receive any money without charge?
0
Comments
Oh yeah, also be prepared that you can discuss NOTHING with them as they require all contact to be by FAX on ......their..... form.
Or at least that's what they did to me when (after years of service when we had the shop) I converted to a ...personal......ahahahahahahahahahahahahaaaa......account.
If someone can't put a check in the mail, I don't need their "hurry, hurry, hurry" purchase.
Maybe all us coin collecters ought to boycott Paypal till they lower their fees!
<< <i>That sure stinks,it's bad enough that when you have a premier account to accept credit cards they charge for cash transfers!
Maybe all us coin collecters ought to boycott Paypal till they lower their fees! >>
Go ahead. As long as the convenience of is bringing in more bidders and higher bids, I still think it's a relative bargain. Now if more *buyers* boycotted PayPal and stopped being drawn to auctions where it's accepted, then the value proposition falls apart.
Certainly at some level, their fees would more than offset the added interest it brings to my auctions. But I don't think it's reached that point yet.
[EDITED to add: Though I will say that their stated reason, "to level the playing field," is a crock of smelly stuff. It's obvious -- the reason is to force more people to convert to paid accounts.]
I agree with jbsteven and eagle7 on this one.
Liberty: Parent of Science & Industry
Part of the complaining (at least from me) is because I joined Paypal in the beginning when part of their motto was "always free." I knew it wouldn't last, but they are overtightening the screws, IMO. I wouldn't mind paying the 2-3% on credit card transactions, because I know it costs money to process them. I've had a credit card merchant account in my office for 10+ years. However, when someone does a bank account transfer or existing balance transfer, and there are NO processing fees for Paypal, that's what bothers me.
This little TRICK might make it hurt a little worse
Questions like this should always be viewed from a business viewpoint. It's money that dictates their actions of large corporations.
David
I have a personal account and was going to list some stuff on ebay but will now have to go over it closely to insure that I remain under their limit.
the 1,000.00 limit......is that PER calendar month or per any 30 day period??
First off, trying to boycott PayPal, which is now owned by ebay, is as ridiculous as saying we all need to start listing our coins and only buying over at bidville.com (someone posted that last week, and I still find it quite funny).
They're a monopoly. Like Microsoft. However, unlike your PC, you still have the choice to take US Postal Money Orders. If you like PayPal, you need to play by their rules.
introductory, promotion periods aside (which paypal used at first, to get established) ongoing businesses need to CHARGE for WORK.
if anyone thinks they can provide, on an ongoing basis, money moving and payment services for less than paypal charges, I don't see why they don't go into the business and compete with paypal.
I do agree that cash transfers fees should be less than credit card fees, because some of the vig goes to the CC company.
Other than that, if folks don't like it, they shouldn't use it.
I find paypal very convenient whether buying or selling, and don't tell them, but I'd probably still use it if they doubled their fees.
My time is worth a lot more per hour than paypal charges, than it would cost me to deposit and track checks and money orders when selling, and buy money orders and address and stamp payment envelopes.
yes, I'd rather not pay it. I'd rather not pay for lots of services, including ones that are important to my wife and not me
that's just the way it is [shrug]
if it's too expensive, we stop using a service or shop for an alternative.
if we need the service, and there's no alternative, I use it and don't beeeatch about it. but that's just me.
Liberty: Parent of Science & Industry
<< <i>I find paypal very convenient whether buying or selling, and don't tell them, but I'd probably still use it if they doubled their fees. >>
If you are selling I would like to see you consistently make money under those terms unless you don't care if you lose.
Basic auction with a few options.
$10 sell =20.7% in fees
$20 sell =14.4%
$30 sell =11.9%
$50 sell =9.4%
Not exact but close.
A buyer's premium will pretty much be the death knell for a lot of eBay IMO.
Well, I just think they already make enough money from us - and that prices should not go up any MORE.
A nice convenience - it shouldn't be free. That would be ridiculous.
But, on a $349 class fee, they clip me for over $10. That's a little steep.
My Auctions
I'm against the high fees when receiving money that was already in the Paypal system but many people seem to
like the quickness of the instant payment.
Personally there is nothing that I can't wait a week for my money order to get there.
-KHayse