Paypal Transaction fees

I am usging the paypal services for the last 3 year and they will charge a particular percentage or fixed amount as the transaction charges for every time when we make a transaction with them. The same is mentioned in their site and I think you need to read the recent updates whatever is mentioned in the site. This is one of the main source of their income and if they simply do our work, how they generate their revenues? However, what you can minimise the service charges by using less service requests. Eg: as you may be awere, myLot minimum transfer is $10 and if select $10 as the amount, myLot will transfer the $10 to paypal when it croses the amount. Here in our country, we need to transfer the same amount within 5 working days or transfer the $10 to our local bank account. In this case, when we transfer from paypal to our account, paypal will deduct the service charge (eg: 0.5). Suppose, if you get $10 each for every month, and you will get #10 for 12 months and you will transfer 12 times to your accouont. That means 12x0.5=6. In this way, paypal will deduct $6 for an year as you are doing 12 transactions in a year. But if you consider or $50 or $100 as your minimum withdrawl, there may be 1 or 2 transactions or $1 or $2 will be deducted as service charge instaed of $6. But you will be receiving the money once or twice in a year. So you can decide how urgently you may be require the additional funds.

I have not seen any change recently : there is a fee to withdraw PayPal money with a credit or debit card, but not to wire it to a bank account. When you receive money, the sender can choose to pay the fees or not, and in this case you pay them.

PayPal is a business and with anyt business they have huge overheads like wages and taxes. Where else can they make money to pay their costs other than through fees. I use PayPal constantly and it costs me nothing, no fees. I consider myself very, very lucky that this is the case but if I suddenly had to start paying fees I would totally understand.

Hi Fulltank... I rarely drown all my income when I got it. I usually let it sit in my Paypal until its reach certain minimum amount before withdraw it to my bank account so I can get fee as small as possible. Or If I need it before reach those amount I will sell my money on it to people who buy Paypal balance. Its will cost me fifty cent to transfer it to my bank account but its OK because they exchange rate not much difference with Paypal. Use mass payment for this so you won't get any fee. Or I just spend it on site that's sell something I need in the internet. Its safe because Paypal had buyer protection.

I did experience as you before for one of my online earning sites. I wrote to the Payapl and they did reply to me. If I am not mistaken, this site might upgrade to a business account and certainly, there is a charge for all of the transactions. Anyway, I did not keep the relevant email which I received from the Paypal. It was about the clarification to the same query I had earlier. If you need a definite answer, I advise you to write to the Paypal to seek his clarification.

Yes. Even in $1.00, they've been deducting some fees. I think they should just have a limit in deducting fees. And sometimes their exchange rate are low and they will still deduct from the payment that has been made. :(

Anyone who uses a PayPal Business account as a method of payment has the option of absorbing the charges themselves (as MyLot do) or of passing them on to the customer. In the current economic climate, I think that many sites are more likely to be passing on the charges to their payees.

Dear Fulltank, I was not aware there is such charges. It is good that you share about it here. My brother withdraw his internet income via paypal about 2 years ago and I did not heard about the fee. Do you know how much Paypal is charging for every transaction? Thank you.

Paypal policies change over night and you should not be surprised because paypal are running the service too for profit and no one starts a free business nowadays. Sometimes it is good to point it out to them that such reductions are happening as they might not be sure why and moreso it could be that the sites you work are not convering for transaction fees, some used to.

Well, I also use Paypal to make me pay on the sites where I gain. In fact I too have noticed that some revenue, Paypal holds them as commission costs. Of course we must keep in mind that Paypal is like a bank account, and as such could not offer a free service. Even in my debitcard withdrawals on, if the amount is less than $ 100, there is a deduction of $ 1 for fees. Maybe in my opinion these transaction fees are a bit high.

I not know about the paypal fees I think paypal not charged the fee like other site. ex. moneybooker. Ohhh you are saying now paypal is charge the fees then no knowledge because still no payment is deposit in paypal. Paypal is not allowed to withdraw the money less than 5dollar.

Paypal still has to earn. I do not like the fees too. I was bothered with so many charges and fees. But it is good that mylot is not charging the fees to us :) Happy mylotting!

well, for me, paypal have always deducted fees on my transactions ever since I have used the site for almost 2 years already. I kinda get used to it already.

maybe it is their new role please read Paypal FAQ and their changing about transaction. anyhow i have no idea but thanks for info.

This is good post , I have never withdraw any money from my PayPal before . Thanks for letting us know what to expect .

What I do know : There is a fee to send money as a personal payment using a debit card or credit card. The fee in the U.S. is 2.9% plus $0.30 USD of the amount you send. For personal payments, the sender can pay the fee or pass it on to the recipient. If the recipient doesn't want to pay the fee, they can choose not to accept the payment. There’s no fee to use PayPal to purchase goods or services. However, if you receive money for goods or services (such as from selling an item on eBay), the fee for each transaction is 2.9% plus $0.30 USD of the amount you receive. You can withdraw money from your PayPal account to your bank account at no cost. If you prefer to receive a check, there is a $1.50 fee.

I still have to make transactions with paypal since my account on this site is still new. How much percentage does it charge? Can you give us an idea?

I had no idea about this. So now it is better to have transactions more than $4. thanks for sharing. have a wonderful day.

Oh then i have to take my time and learn more about paypal service because i am a new person in paypal, i just join it about 2 weeks ago. So i hope with the help of this forum i will be able learn enough about their services. So fellow members i will depend on you about my paypal account.