Charging extra on the Coin B/S/T Board for Paypal payments

Manorcourtman

I think it sucks that people have the nerve to charge extra for using Paypal on the PCGS Buy/Sell/Trade board!! It's a cost of doing business. Didn't someone say it is illegal for someone to charge extra for taking a credit card as Legal Tender in the USA for a regular business transaction? I don't care either way what people/dealers say but charging extra for using a credit card is just wrong imho and I avoid these people with a ten foot pole!! Anyone else with an opinion.....and flame me if you must but charging extra for Paypal is hurting your Business and reputation.....Flame suit on

Zoins

Just say you'll give a discount for not using PayPal

Weather11am

ricko

I have seen stores put two prices on products... one for CC and one for cash. Fair or not.. they do it. Cheers, RickO

TwoSides2aCoin

It's a way of saying... I don't care what you think, YOU are paying the fees, not me.

That's why it's called PayPow™

Barry

Fair or not doesn't matter. It violates their Merchant Agreement. Another common violation is stores posting a minimum price for a CC transaction. That's not permitted, by contract, not by law, either. Only recourse is to file a complaint with MC/Visa.

LindeDad

Well they could just post a price to include shiping and insurance and PayPal.

I have actually found that the best way to sell.

If I have to eat the PayPal fees so be it. All I want is what I have in it back out to move up the ladder.

StrikeOutXXX

It doesn't really bother me if they say add 3% for paypal personally. They want their $100 for the item either way. I sort of look at it as I'm paying the $3.00 to have the convenience to use paypal. I believe it is against eBay policy, and technically against PayPal rules even on the BST, but as someone said, just advertise the price of $103 Paypal OK, if they pay cash/check just charge them the $100.

If they advertise $100 check/MO or $103 paypal, I don't mind paying $3.00 for the convenience of sitting in my chair and clicking send payment. The alternative is using gas and my time to drive to my bank to get a money order that costs me $1.00, drive to the post office, and spend 41 cents on a stamp, and a few cents for an envelope, and have to wait 3 or so extra days for my item. It's almost break even for most things $100 or under.

If it is a big purchase (few hundred bucks or more), and I'm not in a hurry for the item, I usually go out of my way to send a check/MO so the buyer isn't stuck with $10.00 or so in fees just so I can click a paypal button.

kimon1230

I don't see it as wrong.

Remember, not everyone on the BST forum is a business. Many are individual collectors selling off something from their collection and the 3% PayPal fee would hurt them.

They have a choice of increasing their price to cover the fee, transfer the fee to the buyer or not take PayPal at all.

walkerman

Paypal is definitely a cost of doing business. So is ebay. That is why my ebay listings are 8% more than the same coin listed on my website.
If I mark my coins up 10% I really can't absorb 8% in fees.
So if a buyer wants to save money buy from my website instead of ebay.
Economics 101. Dave W





David J Weygant Rare Coins website: www.djwcoin.com

drwstr123

There have been times when a deller states "check only", and I've countered with an offer to pay the 3% for my convenience. Mike

oxy8890

<< <i>I think it sucks that people have the nerve to charge extra for using Paypal on the PCGS Buy/Sell/Trade board!! It's a cost of doing business. Didn't someone say it is illegal for someone to charge extra for taking a credit card as Legal Tender in the USA for a regular business transaction? I don't care either way what people/dealers say but charging extra for using a credit card is just wrong imho and I avoid these people with a ten foot pole!! Anyone else with an opinion.....and flame me if you must but charging extra for Paypal is hurting your Business and reputation.....Flame suit on >>



Let me get out my blow torch!

So do you not buy from anyone on the bourse floor who does not take credit card (technically they are saying no to equal pricing in a different way)?

Do you think that some people are over charging if they are able to absorb an additional 3% and charge the same for CC/paypal or cash?

When I do sell, I actually do not charge extra for credit card. But to be honest with you the above attitude gives me the impression that you may do not understand basic business models. It further leads me to believe that you might feel you are ENTITLED to services at no charge that someone has to pay for on your behalf.

When I do sell on the BST or ebay, the above customer profile kind of scares me and is honestly someone I strive to avoid.

Now back to the peaceful side of this forum and flame suits off. You could be a very nice person and maybe I took what you said wrong or misunderstood. I hope I did because those that don't understand a good value/value add are the most difficult to deal with.

At the same time one could say that those that are selling so lean they need to charge for credit card they are not value add either and have a bad business model?!

Hugegut

There's nothing wrong with it. It's against ebay policy but the BST is not ebay. The seller isn't accepting a credit card either. They're accepting paypal.

bstat1020

<< <i>

<< <i>I think it sucks that people have the nerve to charge extra for using Paypal on the PCGS Buy/Sell/Trade board!! It's a cost of doing business. Didn't someone say it is illegal for someone to charge extra for taking a credit card as Legal Tender in the USA for a regular business transaction? I don't care either way what people/dealers say but charging extra for using a credit card is just wrong imho and I avoid these people with a ten foot pole!! Anyone else with an opinion.....and flame me if you must but charging extra for Paypal is hurting your Business and reputation.....Flame suit on >>



Let me get out my blow torch!

So do you not buy from anyone on the bourse floor who does not take credit card (technically they are saying no to equal pricing in a different way)?

Do you think that some people are over charging if they are able to absorb an additional 3% and charge the same for CC/paypal or cash?

When I do sell, I actually do not charge extra for credit card. But to be honest with you the above attitude gives me the impression that you may do not understand basic business models. It further leads me to believe that you might feel you are ENTITLED to services at no charge that someone has to pay for on your behalf.

When I do sell on the BST or ebay, the above customer profile kind of scares me and is honestly someone I strive to avoid.

Now back to the peaceful side of this forum and flame suits off. You could be a very nice person and maybe I took what you said wrong or misunderstood. I hope I did because those that don't understand a good value/value add are the most difficult to deal with.

At the same time one could say that those that are selling so lean they need to charge for credit card they are not value add either and have a bad business model?!



>>

Russ

<< <i>It's against ebay policy but the BST is not ebay. >>



It is also against PayPal policy, and illegal in many states.

Russ, NCNE

NumisOxide

Manorcourtman good post!

BlindedByEgo

Fleabay can control PayPal use on their own venue, and punish a seller for doing what you have described. Luckily their reach doesn't os easily extend to other venues. PayPal could punish the offender if they found out, but obviously that is more difficult off-Ebay. CC companies rarely punish clients for requiring minimums or other minor violations (at least according to my friend who is a merchant account reseller).

I personally feel that charging more for CC or PayPal transactions is wrong. So do their respective TOS's. That being said, there is nothing wrong with offering a discount for cash, check or money order transactions. Gasoline stations have been doing that for years.

Coinlearner

I notice many people and firms I have bought from list different prices on "check-out", in method of payment. Gold,modern, and common coins have pretty tight spreads buy/sell..So I expect to pay a little extra or not, my choice, on purchase. If I think it is out of line , just go some place else.

notwilight

Charging extra for paypal is the result of a thead here a while back that said it is illegal to give a cash discount. Clearly, there is no way to make everyone happy unless you just give them the coins for free.

When I sell a gold coin for $1100 and the paypal fees are $25 should I just add that $25 on to the price and if a buyer pays with check or MO just pocket the $25? Why does it anger you that I want to give the buyer an opportunity to put the $25 in his pocket instead of paypals?

--jerry

RYK

I generally do not offer PayPal on the BST. If I know you, I will send the coin before I receive payment. If I don't know you, and you have references, I will send the coin after receiving your personal check.

If someone insists on using PayPal to pay me for something, I might request more for the item, I might let it slide, or I might cancel the transaction, depending on the circumstances.

When I buy an item from someone I know (here or on ebay), I always try to pay by check, so that more of the money goes to the seller. Some sellers insist on PayPal, and I am okay with that, too. When I buy an item from someone I do not know on ebay, I prefer PayPal as it gives me the most protection.

I personally feel that PayPal is a tax that is unnecessary for transactions between two parties known to one another. The less familiar the parties are with one another, the greater the role for PayPal, IMO.

ttown

I don't offer paypal and don't want to mess with it but I do have my prices set as low as I can. You can deal with it or not buy. Of course when I'm buying a big ticket item (coin) PayPal protects me but for items of 100 bucks or so it's never a factor.

08HALA20

You can also ask for a Paypal E-check which I believe is maxed at $5.00 fee

Joe

BlindedByEgo

<< <i>Charging extra for paypal is the result of a thead here a while back that said it is illegal to give a cash discount. >>



Huh? Illegal to give a discount for cash?

Who's going to volunteer to be head of the class action lawsuit against the petroleum industry?

Edited for frinkin' spelling again.

OPA

<< <i>Fair or not doesn't matter. It violates their Merchant Agreement. Another common violation is stores posting a minimum price for a CC transaction. That's not permitted, by contract, not by law, either. Only recourse is to file a complaint with MC/Visa. >>



Not sure about that...in my State, you can pay your State Income Taxes, Bail Bond, Traffic Tickets, Fines via credit card, for an additiona fee of about 5%...Beats spending the night in the slammer....

ttown

<< <i>

<< <i>Charging extra for paypal is the result of a thead here a while back that said it is illegal to give a cash discount. >>



Huh? Illegal to give a discount for cash?

Who's going to volunteer to be head of the class action lawsuit against the petrolium industry? >>



Boy the crap you get on the internet. Every bussiness has ALL there cost figured in their price and it's far from illegal.