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Old 06-24-2017, 12:25 AM
 
9,064 posts, read 9,217,240 times
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Got my first Pay Pal payment and was surprised by a 5.9% fee. Seems high to me! What are the rules?

$10.00 Sent by xxxx
$0.59 Fee-negative
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Old 06-24-2017, 02:11 AM
 
Location: Minnesota
1,572 posts, read 597,406 times
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I thought it was 3%.
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Old 06-24-2017, 02:15 AM
 
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So you're saying you didn't bother to read the details before you engaged?


Bad move.


It's no surprise Paypal links in email are the main source of viruses and malware.
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Old 06-24-2017, 03:32 AM
Status: "I cannot wait for the heat to break..." (set 3 days ago)
 
Location: Where the sun likes to shine!!
20,368 posts, read 25,488,669 times
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"The fee for each transaction is 2.9% plus $0.30 USD of the amount you receive."



Anytime you accept payment from any credit card there is a fee.
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Old 06-24-2017, 03:41 AM
 
33,046 posts, read 20,708,082 times
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Quote:
Originally Posted by PacoMartin View Post
Got my first Pay Pal payment and was surprised by a 5.9% fee. Seems high to me! What are the rules?

$10.00 Sent by xxxx
$0.59 Fee-negative

They do have "base" or "minimum" fees for low-value transfers, like maybe below $25 or $50. Once you get up to around $100 or so, the fees work out to around 3%.

p.s. that "base" 30 cents per transaction is what inflates the percentage of the fee on low-value transfers.
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Old 06-28-2017, 04:56 PM
 
10,148 posts, read 13,833,845 times
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Quote:
Originally Posted by ylisa7 View Post
"The fee for each transaction is 2.9% plus $0.30 USD of the amount you receive."

Anytime you accept payment from any credit card there is a fee.

That is the exact fee we have been paying for years on payments received. 30 cents +2.9%.
We do not know whether they use their own Paypal account or a credit card. There are family and friends sending where you can send small amounts to them fee free. We sent a family member $3.00 the other day. No fee on their end.
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Old 07-03-2017, 09:52 PM
 
Location: Silicon Valley
16,718 posts, read 20,456,636 times
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They need to choose the pay friends and family option, instead of any type of business transaction, and not use a credit card. If they do the above, and want to use a credit card, there's an option where they can choose to pay the fee themselves.
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Old 07-04-2017, 12:57 PM
 
10,148 posts, read 13,833,845 times
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Quote:
Originally Posted by NoMoreSnowForMe View Post
They need to choose the pay friends and family option, instead of any type of business transaction, and not use a credit card. If they do the above, and want to use a credit card, there's an option where they can choose to pay the fee themselves.
We are careful when sending friends no fee. I'm sure Paypal has some limits.

Last edited by howard555; 07-04-2017 at 12:58 PM.. Reason: typo
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Old 07-06-2017, 07:24 PM
 
Location: Silicon Valley
16,718 posts, read 20,456,636 times
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Quote:
Originally Posted by howard555 View Post
We are careful when sending friends no fee. I'm sure Paypal has some limits.
Just call them up and ask them. That's what I did when I was helping to manage my daughter's rental property. I just called them up, was honest and asked them if it was okay to have tenants use that option. I was told yes, it was okay to use the friends and family option for rent payments.

Just be honest and just ask.

I was afraid to talk to the IRS when I had a home business about possible deductions, and turned out when I did, they came up with way more deductions than I ever would have thought of.

So, I'm not advocating cheating here. I'm advocating doing things the honest way - that will also save you money. If you're not sure, ask.
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Old 07-07-2017, 07:44 AM
 
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Also, get the PayPal debit card to purchase things out of your PayPal balance. You get 1% cash back every month. That helps offset the fees.
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