PayPal now charging a refund fee?
astrorat
Posts: 9,221 ✭✭✭✭✭
Hi all-
I just returned a coin from an ebay auction and the seller is refunding my payment with a money order (which is fine by me). But he indicated that now PayPal is charging a 3% refund fee. Has anyone else heard of this?
Lane
I just returned a coin from an ebay auction and the seller is refunding my payment with a money order (which is fine by me). But he indicated that now PayPal is charging a 3% refund fee. Has anyone else heard of this?
Lane
Numismatist Ordinaire
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
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Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 700
<< <i>I just sent back a coin from eBay and I better not be charged a refund fee!! If that is the case, the seller might get some bad feedback if i'm not reimbursed. >>
Why the seller?
BUT, this is only if the refund is done within 60 days. After that PayPal doesn't allow refunds and insists on keeping its ~3% fee.
Lance.
edited to add: If the seller is doing a refund in any way other than through PayPal (a money order, e.g.) he will suffer the ~3% PayPal fee.
Boom...we win.
I am the buyer.
I purchased the coin on eBay using PayPal (obviously!).
The seller is refunding my payment by sending me a money order for the full purchase price.
He claims that the reason he is sending me a refund using a money order is that PayPal would charge him 3% to refund funds to me through PayPal.
The "refund fee," if it does exist, will not affect the amount he is sending me (so he claims).
Lane
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
<< <i>To clarify a bit...
I am the buyer.
I purchased the coin on eBay using PayPal (obviously!).
The seller is refunding my payment by sending me a money order for the full purchase price.
He claims that the reason he is sending me a refund using a money order is that PayPal would charge him 3% to refund funds to me through PayPal.
The "refund fee," if it does exist, will not affect the amount he is sending me (so he claims).
Lane >>
Yes, they will, IF he pulled those funds. He is charged a fee to withdraw those funds to pay you back through his back-up source: ie Credit card, bank account, etc. He wants to be pay you back by money order to save himself those fees.
Boom...we win.
Hold off on feedback until money arrives.
<< <i>
<< <i>To clarify a bit...
I am the buyer.
I purchased the coin on eBay using PayPal (obviously!).
The seller is refunding my payment by sending me a money order for the full purchase price.
He claims that the reason he is sending me a refund using a money order is that PayPal would charge him 3% to refund funds to me through PayPal.
The "refund fee," if it does exist, will not affect the amount he is sending me (so he claims).
Lane >>
Yes, they will, IF he pulled those funds. He is charged a fee to withdraw those funds to pay you back through his back-up source: ie Credit card, bank account, etc. He wants to be pay you back by money order to save himself those fees. >>
Okay...that makes sense.
Lane
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
When gold and silver move together, it signals the coming end of fiat money.
Fees for this, fees for that.
Once we were skinny, but now we are phat
We do it for you because you're the key
To making us rich through your poverty.
We are you friends at Pay Pow™
``https://ebay.us/m/KxolR5
<< <i>You cost the seller 3% by requesting a money order. If hehad refunded thru paypal then paypal would have refunded the 3% I would have tried to talk you into accepting the paypal refund rather than making me stand in line at the PO. But sellers on ebay have to bend over backward so he did it. Jerry >>
Where did he state he requested a money order?
<< <i>A seller can avoid the refund fee by transferring the funds back into his PP account from his bank account BEFORE issuing the refund. Seller needs to inform buyer it will be a couple of days for the transfer to occur. If seller is notified a coin is being returned he has time to transfer the funds before issuing the refund. Paypal does not charge you to transfer funds to your PP account unless it is to cover an issued refund. Transfer first, await for funds to show up in PP account then issue refund. >>
Correct .... the seller prematurely "cleaned out" his PayPal account after your auction ended, and now, you the buyer, has to wait for his refund to be mailed to him. ( probably either a "small time seller or paranoid seller
<< <i>
<< <i>To clarify a bit...
I am the buyer.
I purchased the coin on eBay using PayPal (obviously!).
The seller is refunding my payment by sending me a money order for the full purchase price.
He claims that the reason he is sending me a refund using a money order is that PayPal would charge him 3% to refund funds to me through PayPal.
The "refund fee," if it does exist, will not affect the amount he is sending me (so he claims).
Lane >>
Yes, they will, IF he pulled those funds. He is charged a fee to withdraw those funds to pay you back through his back-up source: ie Credit card, bank account, etc. He wants to be pay you back by money order to save himself those fees. >>
Why not simply transfer those funds back into one's PP account to generate a PP balance BEFORE one issues the refund DUH?
<< <i>If anyone is wondering what I think of Paypal, if I came upon them on the side of the road dying in a horrible chemical fire, I'd not stop to piss on 'em.
I personally wouldn't go that far
<< <i>
<< <i>A seller can avoid the refund fee by transferring the funds back into his PP account from his bank account BEFORE issuing the refund. Seller needs to inform buyer it will be a couple of days for the transfer to occur. If seller is notified a coin is being returned he has time to transfer the funds before issuing the refund. Paypal does not charge you to transfer funds to your PP account unless it is to cover an issued refund. Transfer first, await for funds to show up in PP account then issue refund. >>
Correct .... the seller prematurely "cleaned out" his PayPal account after your auction ended, and now you the buyer has to wait for his funds to be mailed to him. ( probably either a "small time seller or paranoid seller
Or maybe he's just sick and tired of Paypal withholding his GD money for 21 days or more so they can earn interest off it?
<< <i>
<< <i>
<< <i>A seller can avoid the refund fee by transferring the funds back into his PP account from his bank account BEFORE issuing the refund. Seller needs to inform buyer it will be a couple of days for the transfer to occur. If seller is notified a coin is being returned he has time to transfer the funds before issuing the refund. Paypal does not charge you to transfer funds to your PP account unless it is to cover an issued refund. Transfer first, await for funds to show up in PP account then issue refund. >>
Correct .... the seller prematurely "cleaned out" his PayPal account after your auction ended, and now you the buyer has to wait for his funds to be mailed to him. ( probably either a "small time seller or paranoid seller
Or maybe he's just sick and tired of Paypal withholding his GD money for 21 days or more so they can earn interest off it? >>
PayPal only holds funds on "problem sellers" or newby sellers w/o a track record.
<< <i>I just sent back a coin from eBay and I better not be charged a refund fee!! If that is the case, the seller might get some bad feedback if i'm not reimbursed. >>
Thought you were in another country today.. There ya are. Glad to know you never got that charge!
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<< <i>
<< <i>
<< <i>A seller can avoid the refund fee by transferring the funds back into his PP account from his bank account BEFORE issuing the refund. Seller needs to inform buyer it will be a couple of days for the transfer to occur. If seller is notified a coin is being returned he has time to transfer the funds before issuing the refund. Paypal does not charge you to transfer funds to your PP account unless it is to cover an issued refund. Transfer first, await for funds to show up in PP account then issue refund. >>
Correct .... the seller prematurely "cleaned out" his PayPal account after your auction ended, and now you the buyer has to wait for his funds to be mailed to him. ( probably either a "small time seller or paranoid seller
Or maybe he's just sick and tired of Paypal withholding his GD money for 21 days or more so they can earn interest off it? >>
PayPal only holds funds on "problem sellers" of newby sellers w/o a track record. >>
They also state that they'll release funds once positive feedback is posted. What they don't say is........IF THEY FEEL LIKE IT. They've had their fist up my ass since day one, including the balls to call me and ask about a transaction that had nothing to do with ebay. What did I sell to this guy they want to know? Call the buyer and ask him, it's none of your business.....especially after charging me stupid fees for the transaction.
Try to talk to those turds via internet or even the phone.
Yeah, I wouldn't even slow down to rubberneck that one.
That sounds painful, and very discomforting. Id request they pay you for that treatment asap.........
<< <i>
<< <i>You cost the seller 3% by requesting a money order. If hehad refunded thru paypal then paypal would have refunded the 3% I would have tried to talk you into accepting the paypal refund rather than making me stand in line at the PO. But sellers on ebay have to bend over backward so he did it. Jerry >>
Where did he state he requested a money order? >>
I was posting on the phone while out and the print was very small. I thought he said it was his request. If it was the seller's idea, then the seller has to deal with the fees. I always refund through paypal, get my fees back, and never leave my chair.
--Jerry
<< <i>
<< <i>
<< <i>A seller can avoid the refund fee by transferring the funds back into his PP account from his bank account BEFORE issuing the refund. Seller needs to inform buyer it will be a couple of days for the transfer to occur. If seller is notified a coin is being returned he has time to transfer the funds before issuing the refund. Paypal does not charge you to transfer funds to your PP account unless it is to cover an issued refund. Transfer first, await for funds to show up in PP account then issue refund. >>
Correct .... the seller prematurely "cleaned out" his PayPal account after your auction ended, and now you the buyer has to wait for his funds to be mailed to him. ( probably either a "small time seller or paranoid seller
Or maybe he's just sick and tired of Paypal withholding his GD money for 21 days or more so they can earn interest off it? >>
GSA guy, I understand your frustration but paypal has eaten two chargebacks for me and made me whole. One was $200 and one was just shy of $10,000. I can understand why they might be careful. --Jerry
Russ, NCNE
<< <i>
<< <i>
<< <i>
<< <i>A seller can avoid the refund fee by transferring the funds back into his PP account from his bank account BEFORE issuing the refund. Seller needs to inform buyer it will be a couple of days for the transfer to occur. If seller is notified a coin is being returned he has time to transfer the funds before issuing the refund. Paypal does not charge you to transfer funds to your PP account unless it is to cover an issued refund. Transfer first, await for funds to show up in PP account then issue refund. >>
Correct .... the seller prematurely "cleaned out" his PayPal account after your auction ended, and now you the buyer has to wait for his funds to be mailed to him. ( probably either a "small time seller or paranoid seller
Or maybe he's just sick and tired of Paypal withholding his GD money for 21 days or more so they can earn interest off it? >>
GSA guy, I understand your frustration but paypal has eaten two chargebacks for me and made me whole. One was $200 and one was just shy of $10,000. I can understand why they might be careful. --Jerry >>
They can certainly do that when they've got so many honest sellers bent over the table at one time. Guilty until proven innocent. The American way. Personally, I'm done with Ebay/Paypal.
When the buyer paid by PayPal the seller was charged a 3% fee.....($100 sale + $3 PP fee = $103)
If the Seller refunds by Money Order PayPal will keep the 3% fee (since they have no clue about the refund request.)
If the seller transfers the sales purchase price back to his PP account first (as stated above) AND THEN makes the refund, the seller will get his 3% fee back (included in the refund, $97 PP balance + $3 refund of fee = $100)
Seller is screwing himself the PP fee and the cost of the M.O. and postage
<< <i>I am a bit confused with all the quoted responses so I will not quote one....
When the buyer paid by PayPal the seller was charged a 3% fee.....($100 sale + $3 PP fee = $103)
If the Seller refunds by Money Order PayPal will keep the 3% fee (since they have no clue about the refund request.)
If the seller transfers the sales purchase price back to his PP account first (as stated above) AND THEN makes the refund, the seller will get his 3% fee back (included in the refund, $97 PP balance + $3 refund of fee = $100)
Seller is screwing himself the PP fee and the cost of the M.O. and postage >>
Two different fees involved.
Paypal fee for using paypal to get paid. If you issue a full refund you get it all back, including fee, to return to the buyer as a refund.
If you don't have the money in your paypal account to issue a refund, Paypal will charge you an additional 3% for anything that has to be charged to your credit card or transferred from your bank account to cover the refund.
To save the refund fee, simply transfer funds from your bank to your paypal account BEFORE you issue the refund. Just explain to buyer it will take a couple of days for his refund to appear.
I'm one of those who NEVER leaves money in my paypal account.
When gold and silver move together, it signals the coming end of fiat money.
<< <i>If the seller refunds the money outside of paypal, is he able to get a credit on his ebay final value fees? >>
I believe that the seller would have to indicate to eBay that the transaction was voided, but eBay would still request a confirmation from the buyer before refunding FV fees.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
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<< <i>If the seller refunds the money outside of paypal, is he able to get a credit on his ebay final value fees? >>
I believe that the seller would have to indicate to eBay that the transaction was voided, but eBay would still request a confirmation from the buyer before refunding FV fees. >>
Correct.....