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:
www.techspot.com
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:
PayPal's new refund policy has sellers up in arms
PayPal has been the go-to payment platform for many small vendors since it was popularized on eBay and other online marketplaces. Currently, when someone sells goods or services, they are charged a flat transaction fee, plus a percentage-based commission on…
