Avoiding PayPal fees

If you are doing private transactions that don't involve eBay, you can dodge PayPal's fee buy having the buyer click "cash advance" and then putting the mailing address, if needed, in the message box.

Jay

paypal takes $0 from the transaction? also the buyer can pay via credit card or bank account?

I've never had any fee taken from money sent to me that way.

Jay

Really? I wonder why that is? How many times have you done this?

My though is that "cash advance" isn't considered a commercial transaction so they don't take a fee from it.

Jay

I found out today, that if someone pays you with a credit card and they choose cash advance, then it is actually treated as a cash advance by the credit card company and therefore subject to a 24% interest rate.

Maybe this works if you have the funds in your paypal account or your bank account already, but if the buyer is using a credit card and plans to pay it off gradually, they won't do it.

I have no idea about what happens with a credit card. I send my ex her money this way, but it is with funds in my account. When I've gotten money this way, I've never had any fees taken out. I've never asked the other person if the money is coming from funds in the account or a card.

Jay

I'm trying to figure out how to send a chunk of change from my bank account (via paypal) to a friend. Can't seem to find the "cash advance" option, nor the e-check option which is supposedly a $5 flat rate. Any suggestions?

this is proof what paypal takes out for fees, i sold a card via E-check last week and got this notice.

Total Amount:		$109.22 USD
Fee Amount:		-$3.47 USD
Net Amount:		$105.75 USD

seems they take out 3% for e-check also.


Mark

Hey Ben,

I can tell you from my own trials, when I sent a cash advance from my bank account it charged the other customer the 3% fee. I haven't tried it with funds in paypal...maybe that's different. I can't figure out how Jay does it.

To send an echeck payment here's what you do. It's a flat rate $5.00 charge.

Go to the send money tab.

Put in the amount and click on the send money. It will then bring you to the next screen.

Then under payment options on that next screen, click on More Funding Options

There you can choose the eCheck payment, and then hit the continue button.

That's it.

Square_Frame_Ramly wrote:this is proof what paypal takes out for fees, i sold a card via E-check last week and got this notice.

Total Amount:		$109.22 USD
Fee Amount:		-$3.47 USD
Net Amount:		$105.75 USD

seems they take out 3% for e-check also.


Mark

They took the 3% because it was less than $5.00. If you send a large amount it maxes out at $5.00. I got a payment of $1604 by echeck. I cleared $1599.

Great, that worked. Thanks Eric.

good to know!!!

Mark