Buyers never pay a fee to PayPal. There is, however, a small fee for sellers. They pay a 2.9% transaction fee on the total sale amount plus a $0.30 fee per transaction. There are some exceptions, listed here. If you have a business, see PayPal Merchant Fees for discounted rates and other pricing info.
Transferring money through Paypal is usually free. Sending money to friends and family is free for you and the recipient when you fund the transfer with your bank account or PayPal balance. You can also use a debit or credit card or make an international transfer for a small fee. If you use yoru PayPal balance or a bank account, there is no fee when sending money inside the US. There is a debit/credit card fee that is the same as if you were selling something through PayPal. If you sending money outside the US, there is a small fee of 0.5% to 2%, depending on the destination when fully funded with bank account or PayPal balance. The fee increases to 3.4% to 3.9% if paying with a credit or debit card. For more information about PayPal fees, visit the PayPal website.
I have used PayPal for buying and selling on Ebay. As a buyer, it is nice to have the added security because I'm always a little worried about online purchases. As a seller, it just takes away from your own profits. Ebay charges fees in addition to PayPal fees.
ReplyDeleteOnly reason I have used paypal as well. Thanks for the comment
DeleteI use PayPal all the time for my eBay transactions and it makes me feel much more safe. I feel that there is an added benefit about being able to pass my money through a secure third party before it is rewarded to the seller. I have also used PayPal to transfer money into my friend's bank accounts with no hassle. I can't even remember the last time that I wrote a check to a friend?! More recently, I rented a vacation home for a few days and the seller wanted me to pay them via PayPal. She actually wrote me and had me pay the fee. I was a little annoyed but then again it also felt fair. I mean, we have been paying sales tax on our transactions for years without complaining but for some reason being able to see that I was paying a fee really irritated me. All in all, I still enjoy PayPal and will probably continue to be a user for a long time.
ReplyDeleteI've never used Paypal to send money to friends and family, I wasn't even aware that PayPal had that feature. The only time I use it is for Ebay. Some sellers require that the buyer have a PayPal account, which is understandable. Other than that, I never use it. If I were a buyer, I would require PayPal too. It seems secure.
ReplyDeleteI have used PayPal a couple of times in the past and have never had any issues when using it. I am glad they have increased the security measures. The only concern I have is identify theft, because I know there is never any system that is unhackable. With that said, I will continue to use it if it is my only choice for payment because I personally have not experienced any issues.
ReplyDeleteJoshua
I as well use paypal all the time. In the past I have sold certain items on ebay. Paypal is an awesome service to use when buying and selling through ebay. It allows you to collect and send money to buyers and sellers, and like you said, the fees are minimal. I have had nothing but positive experiences with paypal and will continue to use this service in the future.
ReplyDeleteI have not had any first hand experience with Paypal, but from what I can gather, it is a safe, secure way to transfer money. The security measures they have in place are said to be state-of- the- art. Furhtermore, from the comments posted, it seems that there is a pretty good response to the service it provides as well. However, as I was doing some research awhile back, I came across the news story about Paypal, suspending the account of WikiLeakes. Apparently, they were pressured by the US government to suspend Wikileakes account resulting in a huge loss in their contributions. I understand the motive behind this,and to which I agreee, but I have to ask the question. If Paypal can ostracize Wikileakes for its content, are they able to do it to other organizations as well? If anyone has any more info on this, would love to hear about it.
ReplyDeleteI have used Paypal both as the buyer and the seller. I have nothing, but great experiences with it and would highly recommend it to people to use. I have always felt that Paypal is secure and that my personal information was safe.
ReplyDeleteAs many people above, I too have had positive encounters with PayPal. I did not know all these charges because like you said it is free when buying something but I always wondered how they made their money. I think it is great that they have been able to keep their charges down so people continue to use it. Hopefully it stays this way.
ReplyDeleteI use pay pal when I make purchases online. It helps me feel more secure about my online transactions. I have never encountered a problem with them.
ReplyDeleteI also like to use Paypal for my ebay transactions. Its a great way to safely and securely send money without worrying about fraud. In the past, ebay sellers used to recieve phony Paypal emails claiming that their item had been sold for way more money that had been posted. This was ruse by Nigerian cons to get the seller to send the item without recieving money for it. Now with Paypal's mobile app, theres no better alternative.
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