Stamp Community Family of Web Sites
Thousands of stamps, consistently graded, competitively priced and hundreds of in-depth blog posts to read
Stamp Community Forum
 
Username:
Password:
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some stamps?
Our stamp forum is completely free! Register Now!

Has Paypal Changed Their Fee Structure

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 7 / Views: 327Next Topic  
Pillar Of The Community

United States
2941 Posts
Posted 02/02/2022   7:59 pm  Show Profile Check eyeonwall's eBay Listings Bookmark this topic Add eyeonwall to your friends list Get a Link to this Message
I had a tiny add-on sale after the initial sale and the buyer paid the added $2 by PP. We are both in the US. I was expecting to get hit with a fee of 30c plus 2.9% (6c) for a total of 36c. Instead they charged me 50c!
Send note to Staff

Valued Member
226 Posts
Posted 02/03/2022   09:26 am  Show Profile Bookmark this reply Add bobplates to your friends list  Get a Link to this Reply
Paypal jacked their fees a couple of months ago. Now, 49 cents base fee plus 2.99%. So on a percentage basis for small transactions we are talking about what they used to call back in the old days...usury... or from their perspective... your cost of doing business. The added benefit of seller/buyer "protection".

Bob
Send note to Staff  Go to Top of Page
Pillar Of The Community
United States
1166 Posts
Posted 02/03/2022   1:55 pm  Show Profile Bookmark this reply Add Parcelpostguy to your friends list  Get a Link to this Reply

Quote:
...usury...



There is no interest involved in the fee transaction, nor is such set at an illegal amount.

It is fine to ask the seller to pay an additional 50 cents (49 actually) to cover the additional expense. Or as good customer service just absorb the cost this one time.
Send note to Staff  Go to Top of Page
Valued Member
226 Posts
Posted 02/03/2022   5:47 pm  Show Profile Bookmark this reply Add bobplates to your friends list  Get a Link to this Reply
Interest? Fee? Nice mincing of words. 25% is biblical in size regardless of the way you want to figure it.

Bob
Send note to Staff  Go to Top of Page
Valued Member
United States
367 Posts
Posted 02/03/2022   6:04 pm  Show Profile Bookmark this reply Add GMC89 to your friends list  Get a Link to this Reply
PayPal was down yesterday what 25%? Today they are down, what 7% . I think they will raise all pricing shortly. Never did like them.
Cheers mark
Send note to Staff  Go to Top of Page
Pillar Of The Community
United States
1166 Posts
Posted 02/03/2022   6:16 pm  Show Profile Bookmark this reply Add Parcelpostguy to your friends list  Get a Link to this Reply
The word, "usury" which is the word you chose and used, applies to interest on the principal of a loan.

The PayPal transaction does not involve a loan nor interest. Additionally, I do not know where you reside, but in the USA credit card companies are lawfully allowed to charge up to 29% annual interest on the loans they are carrying for the customer without it being usury.

PayPal does have competition, Apple-pay, Google-pay, not to mention hand to hand cash or bank checks. Now if one must mail a check there is a 58 cent fee called postage plus the cost of the check. But that is a fee paid by the buyer not the seller.
Send note to Staff  Go to Top of Page
Valued Member
226 Posts
Posted 02/03/2022   6:39 pm  Show Profile Bookmark this reply Add bobplates to your friends list  Get a Link to this Reply
If you go the gas station and use your debit or credit card to buy something for $2, does Visa or Mastercard charge a merchant a 25% processing fee? Umm... No.

And of course I know what usury means. I know all about the dictionary, US business practices and the English language.

This is a 25% charge for the use of an electronic transaction. Interest... fee... word mincing at best. Regardless, it is a big number on a percentage basis. Justified in your view. Agreed to but perhaps not understood by the OP. Sure. I was just trying to explain why that happened in a non usurious 29% world.

Bob
Send note to Staff  Go to Top of Page
Pillar Of The Community
United States
2941 Posts
Posted 02/03/2022   7:50 pm  Show Profile Check eyeonwall's eBay Listings Bookmark this reply Add eyeonwall to your friends list  Get a Link to this Reply
"It is fine to ask the seller to pay an additional 50 cents (49 actually) to cover the additional expense. Or as good customer service just absorb the cost this one time."

I have no intention after the transaction was agreed to to ask the buyer to pay 50c, but in the future I may ask for it up front.

The 49c still isn't making sense unless they lowered the 2.9% part down to 0.5% as the total fee was 50c.

"Agreed to but perhaps not understood by the OP. "

What I did not ubderstand was that they changed the fee structure to more than I was expecting.

Send note to Staff  Go to Top of Page
  Previous TopicReplies: 7 / Views: 327Next Topic  
 
To participate in the forum you must log in or register.


Go to Top of Page
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Stamp Community assumes no liability for errors. Copyright 2005 - 2022 Stamp Community Family - All rights reserved worldwide. Use of any images or content on this website without prior written permission of Stamp Community or the original lender is strictly prohibited.
Privacy Policy / Terms of Use    Advertise Here
Stamp Community Forum © 2007 - 2022 Stamp Community Forums
It took 0.58 seconds to lick this stamp. Powered By: Snitz Forums 2000 Version 3.4.05