[ForSale-Swap] Paypal fees

[Radioman390 at cs.com]

Oh boy!  Yes there is.

An Ebay transaction requires several separate fees to be paid.
1. The listing fee, based on the INITIAL opening bid 
2. A RESERVE PRICE FEE based on the reserve price you set
3. A final value fee, based on the actual selling price.

If PayPal is used, they charge a commission on the combined sale amount and on the shipping costs.

I'm finding that EBay and Paypal fees are around 10% when all is said and done.

Getting your money out of Paypal is possibly costly too.
If they send you a debit card, you can either:
1. Take a cash advance (a fee applies, but is only $1 if you get it from a Chase Bank ATM)
2. A transfer fee to move the money to your linked bank account
3. However, if you use the Debit Card to buy stuff, gas or whatever (Mine says Master Card), then there's no fee.

You have to be careful because if your PayPal account is linked to your bank accounts, they have the right to take money out of your account without notice if a buyer says the goods are NG, or you cheated him.

I recommend that you open a separate bank account to which the PaqPal account is linked. Keep, at most, a hundred bucks in it, and only replenish it if you buy on Ebay. It'll take a day for the charge to hit your bank after you pay for the auction, so you'll have time to put cash in before the debit comes through and generates a "not sufficient funds" charge from your bank.

There is one other benefit to the EBay debit card: It has a limit on it, so I do my online buying with it, putting just enough money in my bank account to cover those online purchases. Also I use it in restaurants if I get a creepy feeling that the waitperson might be "skimming" my card number. 


 


Mike <nf4l at nf4l.com> wrote:

>I've signed up for a personal PayPal account. I can't tell if there is a 
>fee for transactions or not (if I am the seller).
>73,
>Mike NF4L
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