[n_maher]

The $.30 fee has been there for over a year, probably longer.

The appropriate way to calculate the true total cost of a transaction is (X+.3)/.971. That will give you the amount you need to charge so that minus the fees you'll get your asking price. Assuming that you don't need to cover international transaction fees, ect. And of course it's technically not allowed to charge to cover paypal's fees so so use this information at your own risk.

Nate

 

[dvallere]

Quote:

Originally Posted by ken36 It's just not right. Life isn't fair anymore, not like it was. You wait, there's going to be a law.

Thanks for cheering me up so early in the morning!!

 

[Hirsch]

The fee has not changed since I started using Paypal, which was at least five or six years ago.

Before beefing about a 3% fee, you do realize that Paypal has to pay a fee every time a credit card is used? And that they make nothing on free Personal accounts?

3% is actually reasonable by credit card fee standards. I'm reasonably sure that Paypal has negotiated a smaller percentage due to volume, but do ask a local merchant what they're charged for credit card fees some time. It makes Paypal look like a bargain. Where Paypal makes serious money is by charging the fee for non-credit card purchases, currency exchange fees, etc.

Also note that if you add the Paypal fee onto your asking price, you'll also have to pay fees on the fee, so that calculations almost never work exactly.

 

[n_maher]

Quote:

Originally Posted by Hirsch Also note that if you add the Paypal fee onto your asking price, you'll also have to pay fees on the fee, so that calculations almost never work exactly.

I used to think that way till I did the math. Use the formual I posted, it'll work just fine. You just have to know the ammount you want to get (X) and plug it in to get the amount you need to charge to get it. What was most embarassing is that this is like 8th grade math (simple algebra) and something I should have figured out a long time ago.

Nate

 

[Hirsch]

Quote:

Originally Posted by n_maher What was most embarassing is that this is like 8th grade math (simple algebra) and something I should have figured out a long time ago.

Heh. You're right. Unfortunately, 8th grade was a long time ago for me

 

[saint.panda]

As I've posted before, moneybooker.com is much cheaper (max fees are less than $5 irrespective of the transfer amount) and just as secure. I use it every month to send myself money from Germany to Switzerland. Payments have to be made from existing balance however.

 

[Arainach]

Paypal fees have been rather constant in the 3 years I've used it.

What bothers me is the requirement of being "verified". Since I refuse to tie an online account to my bank account, I am limited to sending money only to business users. Makes transactions with ordinary people (The Head-Fi F/S forums, for instance) living hell. I should not have to risk the contents of my savings account just to use a Credit Card online. That's raw greed on Paypal's part. I anxiously await Google Cash - if it doesn't require a bank account, I'm dumping Paypal for it the day it opens.

 

[lmilhan]

Quote:

Originally Posted by ken36 It's just not right. Life isn't fair anymore, not like it was. You wait, there's going to be a law.

Crayons taste like purple.