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PayPal question

Started by Hans Tucker, 09/20/2007 02:49AM
Posted 09/20/2007 02:49AM Opening Post
Firstly, I apologize that this may not be the correct forum to post this question so a little latitude please.

When using PayPal as a method of payment what is this 3%-4% fee that crops up. When I setup my PayPal account and had it verified it says that there are no fees involved in transferring or sending money. I am now about to purchase a rather expensive scope from a seller in Germany and they mentioned a 4% PayPal fee. I am not criticizing the seller I just want a better understanding of this fee. I may try and see if the seller will accept another form of payment like Telegraphic Transfer or International Draft.
Posted 09/20/2007 04:44AM #1
Paypal charges fees to the seller.

Many sellers pass these fees along to the buyer.
Posted 09/20/2007 06:15AM #2
To transfer money to a person, you pay nothing. However, the buyer only gets 97 per cent of what you have paid. It is the cost of doing business that way. It is a very convenient way to pay people, and to get paid. It is a little more safe than some other methods. Somebody has to pay for that safety and convenience. It happens to be the seller in this particular business model. The seller could just price his goods three per cent higher, or 1.5 per cent to split the costs with the buyer. This buyer is adding a 3 per cent surcharge to the item in an attempt to recover the added costs. As I said, it is a cost of business.

I did not know of a four per cent figure in any of this, but it may be.

Posted 09/20/2007 07:22AM #3

For high priced items a bank to bank wire transfer is less expensive.