Announcement PayPal giving sellers the middle finger

Nik

Staff member
Administrator
Moderator
Beta
Jan 11, 2009
2,739
1,378
Awards
10
Toronto, Canada
2
VetteCoins
3,234
Car
.
Province / State
Ontario
  • 10 Years
  • You're 5
  • Hot Chili
  • You're Celebrated
  • Ontario
  • C6
If you SELL anything using Paypal be aware of this change that just happened quietly.

Essentially paypal is now keeping ALL the fees after a purchase is refunded (previously they only kept the 30 cent fixed fee, now it's 2.9% + 30 cents on refunds).

Also, be sure to read this change if you regularly send money abroad via Paypal:

"We're removing the flat rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States and introducing a new variable fee of 5% based on the amount you send with a minimum of $0.99 and a maximum of $4.99 per transaction. We're also removing any variation depending on the recipient's country.

"We are changing the currency conversion spread to 3.25% over a base exchange rate in situations where you are a sender of money in a PayPal transaction."

More here:
 
SN-III

MOTM

SN-III

Making the Day Matter
Power User
Beta
Oct 10, 2016
3,881
6,142
Awards
9
YYC - alBEERta
1
VetteCoins
35,407
Car
His & Hers C7s
Province / State
Alberta
  • Alberta
  • C7
  • You're Celebrated
  • Hot Chili
  • You're a Regular
  • Seriously Rich
Nik, let us (me) know what works best for donations ... or would PayPal still be ok for this with you ??? For those that donate it might be good knowing what gets to CCF once all these fees are grabbed. Thank you 😁👍🏻
 
Last edited:
  • Like
Reactions: ddgermann and Nik

Nik

Staff member
Administrator
Moderator
Beta
Jan 11, 2009
2,739
1,378
Awards
10
Toronto, Canada
2
VetteCoins
3,234
Car
.
Province / State
Ontario
  • 10 Years
  • You're 5
  • Hot Chili
  • You're Celebrated
  • Ontario
  • C6
Nik, let us (me) know what works best for donations ... or would PayPal still ok for this with you ??? For those that donate it might be good knowing what gets to CCF once all these fees are grabbed. Thank you 😁👍🏻
I'd love to ditch paypal but understandably a number of people still use it so I'll be supporting it for a while. Bear in mind this news doesn't impact ccf in any way donation wise. It's more of a cautionary tale for those of you who may sell goods and end up doing refunds. It'll burn you more if you do.

Thanks for thinking of CCF Spence.

Fee wise it's pretty much the same for PayPal and stripe for credit card processing but given the choice use stripe, you get some credit card rewards at least and get to give PayPal the middle finger back with your wallet.
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)