I've seen on here and a few other forums that have marketplaces people talk about PayPal fees and paying more to cover said fees.
I posted this tip on a cell phone forum some time ago and was surprised by how many people didn't know this. Paypal fees hit when you pay via credit/debit card or bank account. BUT if you transfer money to your PayPal account before hand and send the money as "personal" no fees are pulled from either party. My brother lives a ways away from me and has been on my phone contract for over a year and this is how he pays me his portion every month.
The main downside to this is it can take 3-5 days for funds to transfer from bank to PP so if you want to buy something immediately you may be out of luck. I tend to dump several hundred dollars at a time in there when I know I'm going to want to do some shopping in the near future.
Some people have reported on the other forum that some currency conversions get fees taken regardless. I.E. USD > GBP no fees. But USD > YEN fees galore.
Yes you can send as a gift or a personal payment but be aware if you are sending money to someone for goods or something else and you do not get what you paid for, you have no recourse of action against that person.
So make sure you research your seller first before you send funds to them in that way. I ask for and get payments like that all the time but I'm all over the net with excellent feedback everywhere. I'm just an honest guy. However there are a lot who are not.
Quote from: weedahoe on February 27, 2013, 08:23:00 PM
Yes you can send as a gift or a personal payment but be aware if you are sending money to someone for goods or something else and you do not get what you paid for, you have no recourse of action against that person.
So make sure you research your seller first before you send funds to them in that way. I ask for and get payments like that all the time but I'm all over the net with excellent feedback everywhere. I'm just an honest guy. However there are a lot who are not.
This is true. I should have thrown a disclaimer up there. Only send it that way for trusted people. For you or Adidas forexample imI'm sure many forum goers would breathe easy and save a couple bucks per transaction.
Another reason I do it is because PP and all other electronic financial systems now report anything over $20K to the IRS. Personal payments are excluded
Quote from: weedahoe on February 27, 2013, 08:40:58 PM
Another reason I do it is because PP and all other electronic financial systems now report anything over $20K to the IRS. Personal payments are excluded
Didn't know that, but at the same time I'm thinking "20k!?!?" I maybe transfer a total of 8-9k a year TOPS both ways combined.
I do a lot of online business and sales as I run my own business and site. So I really don't care for it being reported. It sucks
Quote from: weedahoe on February 27, 2013, 08:23:00 PM
Yes you can send as a gift or a personal payment but be aware if you are sending money to someone for goods or something else and you do not get what you paid for, you have no recourse of action against that person.
So make sure you research your seller first before you send funds to them in that way. I ask for and get payments like that all the time but I'm all over the net with excellent feedback everywhere. I'm just an honest guy. However there are a lot who are not.
aye. my boss will pay me via paypal/gift. certain sellers ill accept payment from or pay to via gift IF i trust them. had to suspend my original ebay acct cause i got hit with fees 3 times. ( eventually will reinstate that acct. but 100bux in fees = bullshit. after making almost 70