Paypal cash transfers?

[Druk]

Got two used items to send to other forum members who suggest transferring cash to me via my Paypal account. As a cash recipient (never done this before) does this method end up costing me or do Paypal simply transfer in full to my bank account?

 

[wemorgan]

AFAIK there are 2 options:

1-they make a standard transfer and it will cost you a few %
2-they make a gift transfer so they pay the % fees

https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-fees-outside

 

[N7OGP]

i have never heard of a gift transfer.
Paypal will charge you 3.4% plus 20p per transaction.
could you not get them to send a cheque or postal order or pay the money direct into your bank account, at a branch or internet banking.

 

[Druk]

^ could do that but one of them is from the US so payment is in $. Does that complicate matters?

 

[wemorgan]

When I've done an international bank transfer in the past there is a standard minimum fee of ~£10 (NatWest). So it depends on the value of your item as to whether it's worth the cost.

You can make international transfers with Paypal, but the fees are a bit higher
https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-xborder-fees-outside&countries=

 

[N7OGP]

in that case i think payapl is the best option, and bite the 3.4% plus 20p that the devil charges.

 

[Gridlock]

Paypal is an evil, soulless company with all the morals of an insane street dog - so if you use them, make it a last resort.

They will take your money and screw you over given a thousandth of a chance.

They pitched me to become a payment option where I work and I took great delight in telling them to take a long walk. A rare moment where their treatment of me as a customer allowed me to cost them thousands in lost earnings.

 

[martin_a]

What he said ^

PayPal are a bunch of robbers, nothing more. Don't forget, you'll be charged for recieving the money and also for taking it out again unless it is a fair amount.

They still owe me £8.50 because they changed the user code to demand your bank account numbers. I was ok to use it to pay for things when i only needed to give them my credit card but there is no way I am giving a company like that access to my bank account.

Its about time that eBay was investigated by the monopolies and mergers commission over the whole thing.

m.

 

[Mudster]

I have a separate bank account connected to Paypal in which I keep a nil balance. It's the only way to deal with these crooks.

 

[bennesspipers]

Iv used both standard & gift methods of using pay-pal. They dont always offer you the gift option (i presume thats when they think you're trying to rip em off ).

 

[EDZ649]

If you are wanting payment for an ebay item, paypal will not offer the gift option because they are owned by ebay and the system is linked.

If its for an item not sold on ebay you can send the money as a gift to the person selling you the item, for which there is no charge for either party IIRC. There may be a max limit.

 

[crockers]

Just read Wemorgan's link and saw this..

"It's free* when you use your PayPal balance or your bank account linked to your PayPal account. There is a charge of
3.4% + £0.20 GBP*

for debit or credit card payments
(either the sender or recipient can pay this fee)."

3.4% for using a debit card ... as bad as Ryan Air - are the two linked??

I thought the cost of using a debit card was pence....

 

[Stratman]

Paypal are ruthless. They don't care whether anyone receives the goods they have paid for. As soon as they have their comission that's it as far as they're concerned.

I have worked on many series (too many) of Dogwatch (as we call it), and let's just say if Paypal's HQ was on fire I wouldn't even p!ss on it.

 

[johnsco]

And there was me thinking of opening a Paypal account for use on E-Bay.
Won't bother now.
You learn some interesting things on this forum.

 

[kth286]

whats the problem with them paying it straight into your bank account via internet banking.

there are international account numbers attached to your account for them to do this.

 

[Mudster]

Have you ever tried providing an American Bank with your IBAN number?

Every other country in the world understands it, except America, it really fries their noodle.

 

[martin_a]

And there was me thinking of opening a Paypal account for use on E-Bay.
Won't bother now.
You learn some interesting things on this forum.

That's the joy - eBay force you to use it....but they own it!

So:

- they charge you for listing the item
- they charge a 'final value' fee when it sells
- they charge you again to recieve the money through PayPal
- they charge you again if you want to withdraw the money to your bank account

Total scam.

m.

 

[Lugy]

If I ever sell anything on forums using PayPal, I always make a point of adding a bit on my price to cover fees, it's the only way to do it IMO!

 

[Gridlock]

- they charge you for listing the item
- they charge a 'final value' fee when it sells
- they charge you again to recieve the money through PayPal
- they charge you again if you want to withdraw the money to your bank account

You forgot,

- they remove money from your bank account when the buyer files a dispute
- they keep the dispute open for months before they *might* give you your money back

 

[MD5]

To be fair, the only problem I've ever incurred with paypal is when I couldn't redeem a reward discount, and gave up with their farcical complaints and queries system. I always pay with it on ebay, and have both sent and received payments unrelated. I think the gift option (to you, Derek) should prevent you having to pay fees.

That said, others above have clearly had problems, so I guess I'm in the minority.