specialized ground control frame + extras 120 BIN

[amt27]

isnt it the credit card company that charges the typical 3% and not Paypal? PP certainly adds a bit too and their currency conversion rate sucks but PP is still free if you transfer money from one private account to another (i.e. no credit card is involved). my PP account is linked to my bank account and was free until i had to upgrade to accept credit card payments.

Carsten

I worked for a company with a £2million turnover on cards and they were charged 1.1% by the merchant services (middle men between the card company, APACS and retailer).
I dare say PP are being charged a lot less as their turnover on card payments is millions (possibly billions), they may even be paid by the card companies as they are promoting card payments as a way of purchasing.
However with "cardholder not present" transactions (online/mail order) the retailer is liable for any fraudulent use, so PP will have the additional cost of administration when this happens and loss if they are unable to recover the money.
Again other genuine customers being charged to cover the cost of fraud because of flaws in the system.

 

[scant]

so the banks are making the money & not paypal? (hell i'm just pi$$ed I'm losing money... but then I guess without ebay it wouldnt sell for as much anyway
when people tell me they have the funds in their account. or to use a STW example. "I've got £4 in my account sell me something" the person receiving the funds would loose the 3% (I know this!). is the credit card still involved then?
b.t.w I'll happily take cheques everytime over paypal, assuming royal snail dont loose them in the first place!

why is money transfer such a PITA!

 

[dom_k]

the best way is to get the sellers bank acc and sort code (if they will give it) and go into your local branch of that bank and pay in over the counter. thats free for both parties!!

 

[orange71]

yes, true, but at least paypal offers some form of protection...

 

[scant]

this thread of pros & cons could run & run

 

[dom_k]

lol indeed... does paypal offer protection to non-ebay transactions though?

 

[amt27]

so the banks are making the money & not paypal? (hell i'm just pi$$ed I'm losing money... but then I guess without ebay it wouldnt sell for as much anyway

the banks and PP are taking a cut, if using credit card, if non credit card PP are taking the full fee,

when people tell me they have the funds in their account. or to use a STW example. "I've got £4 in my account sell me something" the person receiving the funds would loose the 3% (I know this!). is the credit card still involved then?

this is usually someone who has sold something and wants to get rid of the money, there is a huge amount of undeclared taxable income, if you sell something and buy something else and don't tell the tax man about your "other income", it will not appear in your bank account,

b.t.w I'll happily take cheques everytime over paypal, assuming royal snail dont loose them in the first place!

why is money transfer such a PITA!

its all about time, delivery time for cheque, clearing time for cheque, checking the cheque has cleared,
PP and Ebay have boomed since introducing Buy It Now with instant payments for the "want it now" generation.

 

[scant]

lloyds bank in the UK made a big deal a while back about cheques earning interest from the moment you pay them in. I checked up on this, yeh interest straight away, but they actually take 10days to clear! how crap is that!

I'm a patient guy, send me cheques over paypal everything ... (courier next day delivery <joke>

 

[LTS Biker]

I still don't know you we have to pay to transfer money to a UK bank account, I can transfers to Belgium, Germany,France and a lot of other counties, but still no UK. But they say all EU-counties, but in my world UK is a EU-country. But only because of the pound-euro???