paypal's eye in the sky

[KillaCam]

fuk pp. i hate them so much!:hitler::hitler::hitler:

[fporro]

Guys, don't forget that every business pays transaction fees for credit card purchases. there's no scaping it.

at one time my ebay/paypal fees were almost 15% of sold items, hence, no more ebay sales.

[kid325e]

Buy local or through revers with a good Rep with money in a birthday card.

I still don't have paypal and only buy locally or through my suppliers at work.

If I HAD to choose, I would go with Google. Only because I'm a fanboy. On with the real man talk now.

[TurboJake]

A bit of a thread bump to renew my hatred of paypal!

I tried to add $32 from my bank account today to buy some neato thingies. Instead, I get this statement.



Hell no, you are not getting my SSN or tax ID number!

They never got mine, and I don't have this issue.

:D

[Eric]

A bit of a thread bump to renew my hatred of paypal!

I tried to add $32 from my bank account today to buy some neato thingies. Instead, I get this statement.

As of April, 2012, new Federal Regulations require Money Service Businesses, such as PayPal, to verify the identity of a customer before we can provide various services or product offerings. As a result, PayPal must ensure we have collected and verified important data such as customer name, address, date of birth, and national tax ID or social security number. Because we were not able to fully confirm your identity based on your current account information, we need to request additional supporting documentation from you.

Hell no, you are not getting my SSN or tax ID number!

[george graves]

... but the stuff that you have in your acct cuz you received from someone else and already paid a fee on should incur less fees when you send to someone else.

Very interesting point Mossman. You have a 3% fee on a dollar, and you keep passing that dollar around, eventually that dollar has a dollars worth of fees derived from it.

I wonder how much money is just circling around in the paypal system from one member to another that eventually goes into the paypal drain.

[Massive Lee]

When I widthdraw money from an ATM machine, wether I take $20.00 or $1000.00, the fee is the same. That fee reflects a service. Why isn't it the same for Paypal. No to mention that they make tons of money by simply having OUR money in THEIR account for a day, a week, a month.

[Mossman]

The question is do CC companies charge fees to paypal? My issue isn't the 3%, I mean big businesses pay 2% for CC processing, I can handle paying 2.9%. But what bugs me is that they charge the same fee whether the payment is funded with a credit card, bank account, or money in paypal balance. I don't know how much their cost is on the CC and bank account, but the stuff that you have in your acct cuz you received from someone else and already paid a fee on should incur less fees when you send to someone else. I think it used to be that bank accounts and existing balance paid no fee, but only if you had a personal acct and under 500 a month in volume.

Fuck paypal/ebay for taking so much money...but they both provide an indispensable service with no competitors even close. Except amazon...I like that they don't take paypal, even though I'd like to use it sometime. I just can't deal with paypal taking 2% of every ebay and amazon transaction, that's too much money for 1 company to skim.

[mlytle64]

the fees charged by these services do seem a bit high for the volume of transactions they do.

from the other angle though, if these online payment services did not exist, how much cost would smaller biz's incur to hire someone to manage the money transactions for them or how many hours of labor would they spend doing it themselves? how many customers would they have if the online services didn't make it so easy for buyers to pay? they seem to provide an accounts recievable management method that offsets/avoids other costs a small biz would have to incur.

disclaimer...i don't run a small biz, nor have any experience doing it. just 33 years of working for uncle sam...:)

[NigelStu]

FYI - Direct copy/past from each website:

Google Checkout
Monthly Sales Fees Per Transaction
Less than $3,000 2.9% + $0.30
$3,000 - $9,999.99 2.5% + $0.30
$10,000 - $99,999.99 2.2% + $0.30
$100,000 or more 1.9% + $0.30

Paypal
Purchase payments received (monthly) Fee per transaction
$0.00 USD - $3,000.00 USD 2.9% + $0.30 USD
$3,000.01 USD - $10,000.00 USD 2.5% + $0.30 USD
$10,000.01 USD - $100,000.00 USD 2.2% + $0.30 USD
> $100,000.00 USD 1.9% + $0.30 USD

[NigelStu]

Considering that the fee structure looks to be identical between paypal and google checkout, are there any advantages that one has over the other?

And damn them both... Reducing a monopoly by having a DIRECT competitor with the exact same service should REDUCE prices. Someone needs to come up with another option and undercut those guys by 1-2% or work in a tiered system. ebay's fees are ridiculous, but at least they are tiered to transaction price.

[george graves]

Ummm...sure.

[blunttech]

Hey, thread jack.. Can i send you these braided brake lines?? I hate things unfinished.

You mean if you were eBay, and you were taking a listing fee, a final value fee and your Paypal fee? You'd be at close to 10% on some of the stuff.

And after all of that someone can leave you negative feedback cause they are having a bad day, and bought the wrong item. Nice.

And God forbid if someone tries to send you money internationally. They take a cross border fee, and then jack you on the conversion rates.

It boggles my mind why there isn't more competition in that space.

[george graves]

You mean if you were eBay, and you were taking a listing fee, a final value fee and your Paypal fee? You'd be at close to 10% on some of the stuff.

And after all of that someone can leave you negative feedback cause they are having a bad day, and bought the wrong item. Nice.

And God forbid if someone tries to send you money internationally. They take a cross border fee, and then jack you on the conversion rates.

It boggles my mind why there isn't more competition in that space.

[blunttech]

Google checkout still nails you a fee. Nothing is free. If youre running big numbers monthly its 2.2%. I love it and its been good to me. But part of it is my stubbornness and how badly I hate paypal. I run 30-40k a month through google and the fees really add up regardless of who you use. Ill be switching though as soon as my new site launches. Its required for the software being used. I understand how business works and everyone is in it to make a buck. It just seems ridiculous to pay paypal nearly 4% on a 10 dollar transaction or a 4k dollar transaction. It doesnt cost them any more . Maybe Id feel differently if I owned Paypal