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PayPal Question
cameron12x
Posts: 1,384 ✭✭✭
It appears that Paypal charges "about" 3% if you want to send money to someone as a "gift."
Upon receipt, does the receive also pay a fee of some sort? Or is that money free to deposit into their regular bank account?
Thanks!
Upon receipt, does the receive also pay a fee of some sort? Or is that money free to deposit into their regular bank account?
Thanks!
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Free when the money comes from PayPal balance or bank account.
2.9% + $0.30 USD when the money comes from a debit or credit card or PayPal Credit
(the sender decides who pays this fee).
Beware: you have no paypal buyer protection when you use gift to make a purchase.
No Way Out: Stimulus and Money Printing Are the Only Path Left
<< <i>You should be able to send and receive money for free. >>
Then open a company like paypal....without ever charging anyone a cent. Let us know how it turns out.
<< <i>You should be able to send and receive money for free. >>
I have to get mine by the sweat of my brow. I wish I could just sit there and have it show up.
``https://ebay.us/m/KxolR5
<< <i>Let me re-phrase that: Transfering funds, under certain circumstances, does not include a fee. >>
And that is exactly what paypal offers! If you have $500 in your paypal account, and you wish to send $200 to your nephew in college, nobody pays a dime.
<< <i>Let me re-phrase that: Transfering funds, under certain circumstances, does not include a fee. >>
Under certain circumstances could I use the house the you built for free? Just a little bit. when I need a place for my friends and family? --Jerry
<< <i>Seriously? Over a Paypal question? >>
Paypal built a billion dollar company to transfer money safely and reliably at a reasonable rate. However, you suggest they should do it for free. Maybe their employees will work for free on those days. --Jerry
<< <i>
<< <i>You should be able to send and receive money for free. >>
Then open a company like paypal....without ever charging anyone a cent. Let us know how it turns out. >>
I believe he was describing the gift transaction and not all PP transactions. A gift is fee free to both parties.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
<< <i>Welcome to the forums Margue. Sometimes the tone or intent of a post is easily misinterpreted by those who thrive on the veiled intent of trolling. Don't be offended, unless it is a clear violation of the rules here. >>
Not offended, a little surprised by the tone as I didn't mean to say it the way it was understood. Lesson learned on my part. I will be much more careful next time. Thanks so much for the welcome. I'm here to learn and read all the posts that contain great knowledge for newbies like myself. I laugh at myself tho as, for some reason, I picked up on a hobby that requires a great eye for detail and I have the worst eyesight ever. LOL. I still can't figure out how you guys see some of the things you see, especially the double dies. Love to be educated and thanks again for your kind words.
Your statement only reminded me of something my dad used to say when I asked him for "free money". He would say : "money doesn't grow on trees", and I would say .... "Well duh, I know that dad, it's in your pocket".
``https://ebay.us/m/KxolR5
However, back to the PAY PAL question, this is a little off target:
My merchant account at the shop is so expensive, I was wondering if I could use PAY PAL as my merchant account for retail sales in the shop when taking cards. Do I need a machine or will I have to LOG IN every time they want to use their card ?
What I mean is this : My charges per month exceed the 3% with excessive fees. With PayPal, I could eat that charge and still be further ahead than my merchant acct. charges.
``https://ebay.us/m/KxolR5
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
``https://ebay.us/m/KxolR5
<< <i>TS2C - I've never researched this, but I'm curious as to the assignment of fees when a consumer presents a Paypal Visa debit card to a merchant at a physical Point of Sale. Would the consumer pay all of the fees, or is it a shared cost with the merchant(for processing)? >>
I have made purchases with my PayPal debit card and there were no fees to me as the buyer. I assume the merchant pays the normal processing fees as the card is 'branded' by Visa (or MasterCard - I got rid of my debit card). It is a easy way of getting some of the cash out without paying the ATM fee...
<< <i>
<< <i>TS2C - I've never researched this, but I'm curious as to the assignment of fees when a consumer presents a Paypal Visa debit card to a merchant at a physical Point of Sale. Would the consumer pay all of the fees, or is it a shared cost with the merchant(for processing)? >>
I have made purchases with my PayPal debit card and there were no fees to me as the buyer. I assume the merchant pays the normal processing fees as the card is 'branded' by Visa (or MasterCard - I got rid of my debit card). It is a easy way of getting some of the cash out without paying the ATM fee... >>
I don't have a debit card of any kind, but what does PP say about it? If you use one of their cards online does it offer a choice of debit or credit? If I use a CC at a store like WalMart, I'm always offered a choice of debit or credit. Are debit fees less to a merchant than CC fees?