Paypal Questions

[skyking26]

As an occasional seller, I've always asked a buyer to use a check or MO for payment instead of paypal as I am not turned on by the fees and like cash in hand.

However, I deal with guys now and then that have apparent money problems, and if I don't use paypal just don't seem to pay at all or string things along for months on end. I guess as a last resort I am willing to accept it, but need to ask you guys what I should ask for as an extra to cover fees? For example: If I sell an item to someone for $100 and allow the guy to use paypal, how much more do I charge to cover the fees so I still end up with $100 in the end? 1%, 2%, 3%??

Thanks in advance from somebody that's Old School.

RK

[33bird]

An extra 3% should cover the fees.
Greg

[TNTtoys]

Robert,

Be careful with this. I too looked to add a small percentage to cover fees when I started using paypal, and ebay began removing my listings. They told me that it was "against the rules" to charge extra for using paypal. They went on to say that I can "offer a break to those who pay by different means"

Yeah, what a racket...

So, I inflated my items' prices by a few percent and didn't charge the fees. I guess that's acceptable now?

Nick

[whatupyos]

That's a good question Bob. I have sold a few things and hate that I lose out a small percentage. Example: If you sell something for $100..you only get like $97 or something. I'd prefer the $100 net. When I'm a buyer, I'm more than happy to work with whomever is selling to make sure they're happy and I'm happy. I don't mind paying a little extra to cover their costs if they should so choose. Generally, I think 3% covers the paypal fees.

Aaron

[otismalibu]

I just had a buyer pay me $100 even today. My Paypal net was $96.80.

If you seriously need to have the buyer cover that cost, just bump up your listing price, reserve, etc. You'll get way more lookers taking Paypal and buyers can put it directly on their CC if they have no cash.

I hate when sellers on message boards list their price then say "add 4% if you use Paypal". They'd come off looking like much less of a miser if they simply stated a shipped price for the item, which factored in all the expenses they expect the buyer to cover.

$0.02

[skyking26]

Thanks guys. Was not referring to ebay right now, just private transactions. One in the United Kingdom and another that I sell to direct. Have done many transactions with him; he is a good guy but has rotten luck with lost mails, etc. Collectings Charlie Brown. I thought I'd throw the paypal idea out there to him as another idea.

Bob

[Vintagedeputy]

Accepting the fees is just part of doing business. I dont ask people to pay extra. What are we talking about $3?

[Tedw9]

This website has a handy tool to help you figure it out.

http://ppcalc.com/

[skyking26]

Accepting the fees is just part of doing business. I dont ask people to pay extra. What are we talking about $3?

I'm not a mover and a shaker, just a collector. I'm still back in dinosaur age doing transactions by check and credit card. I know guys that do $20,000 transactions and speak of huge fees, so I figured I ask some questions to educate myself. Sorry I am not as experienced as you...

[skyking26]

An extra 3% should cover the fees.
Greg

Actually in the $200 transaction I just did, it was slightly over 4% in fees: $8.10. Alot of dough for a guy like me, but not so much for Vintage.