PayPal Fees (Surcharge)

[scosgt1]

I did that with my house...

NOT paying a RE broker 6%, which in that case is a LOT of money.

[brainpicker]

I know most buyers are usually in a hurry to receive their items, but on expensive goods like newer laptops another option is escrow. Bill Morrow is an excellent escrow agent by the way. I've been able to use escrow three times (here) with Bill as the agent and all three were smooth and professional. The buyers received their laptops maybe three days later than they normally would have due to the time envolved in mailing/clearing the cashier's check, but the piece of mind gained was worth it to all of them. In two of the three cases the buyer paid the escrow and once I did, but really I'd much rather pay Bill the escrow fee than pay PayPal their 3%+. I'm sure that money helps keep this forum running too. It's usually a matter of geting the buyer to agree, but if escrow became more commonplace here, with Bill as the agent when he is able, I think it would be an advantage to all of us. Or, maybe we could form a pool of trusted individuals who could act as agents on sales over a certain dollar value, all of whom would agree to donate most or all of the fee back to the forum (and maybe the fee could be variable to be somewhat competitive with what PayPal charges)? OK, I threw out a very raw idea there, so maybe others who dislike PayPal can help form it into something workable to help the buying & selling members of this forum AND the forum itself. That is, if this idea even deserves further discussion. What do you think?

- Yak

[NS]

Paypal SUCKS.

I maintain two accounts, one that is "personal" so that I can accept non-CC payments and not get charged a commission, and a second merchant account that accepts CC/DC payments.

I am seriously investigating Google Checkout b/c of some bad experiences w/ paypal and the high fee structure.

(not to mention the HUNDREDS of dollars in commissions they have taken from me this year)


EDIT - and if you think taking CC payments is BAD, trying taking an international CC payment - Paypal will tack on up to 1.5% MORE fees for that one.

Yes, exactly. That's why i don't want to apply for a paypal account.

Reasons for NOT applying a paypal account
Number 1: I must to have a certain amount of money in that bank account to get a credit card, then i can apply for paypal.
Number 2: I hear more paypal scams than honest dealings.
Number 3: If you get any scams while buying or paying a fine online, if you report to paypal, they will take months to solve that [censored] case. <--My lecturers told me.

BUT... I cannot agree with you that paypal SUCKS. Paypal in singapore sucks but paypal in US... and other countries MIGHT not be like that.

~~~NS~~~

[bigtiger]

I know most buyers are usually in a hurry to receive their items, but on expensive goods like newer laptops another option is escrow. Yak

This is a good idea. Can you clarify in detail how this works?

[brainpicker]

I know most buyers are usually in a hurry to receive their items, but on expensive goods like newer laptops another option is escrow. Yak

This is a good idea. Can you clarify in detail how this works?

Sure. In it's most basic form which is usually the best way to go, both buyer and seller decide on an agent they feel is trustworthy. The buyer then sends full payment to the agent. The form of payment is decided upon in advance between the agent and the parties involved. The agent also collects their fee. When the payment is determined to be valid the agent contacts the seller to ship the item. Once the buyer receives the item and is satisfied that it is as represented they contact the agent, and the agent then sends the payment to the seller.

- Yak