(Closed) NWR – Paypal users (for receiving payments) – please help!

posted 8 years ago in Money
Post # 3
Member
2090 posts
Buzzing bee
  • Wedding: August 2010

PayPal takes a % of the top (I’m not sure exactly what % it is, sorry!). That money (sale price – paypal fee) goes into your PayPal account. It’s free to move money between your checking account and PayPal account, and costs a nominal fee to receive a paper check.

Post # 4
Member
3526 posts
Sugar bee
  • Wedding: August 2010

Yes, Paypal takes a percentage off the top when you are recieving money. ALWAYS.

The percentage is dependent on how much money is coming in.

2.9% (of the money you are recieving) + $0.30 USD for UP to $3K monthly.

There are also additional fees for money crossing borders and currency conversions.

Post # 5
Member
10366 posts
Sugar Beekeeper
  • Wedding: September 2010

The fees depend on the type of money transfer on Paypal. It’s only free if it is a personal payment, and then it’s only free if a credit card isn’t used. If it is a payment for selling something, yes, they do take a cut.

Post # 6
Member
1995 posts
Buzzing bee
  • Wedding: June 2010

Yeah the fee comes out after the buyer pays and before you get the cash.  Like if the buyer pays your $50 for something, they pay your asking price then you get 50 – the percentage in your checking account.  Like 46 or whatever.  I’ve done it plenty of time and to me its worth it – esp for stuff you’d rather a few bucks and going to a good home versus throwning out or donating.  T

he only way to get around this – and its sneaky but.  If the buyer gives you money as a “gift” or “donation then there’s no fees.  I’ve had people ask me to do that – but I refused.  I’m not trying to help them work the system – send me an invoice and I’ll pay!

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