Cost for Sale through PayPal is it 0% Friends & Family and then %3 or more.

[KzDurango]

They will also scarf any funds associated with the transaction if you were the seller and then lock your account...

yep ive herd of this as well

 

[G19Jeeper]

Looking at the costs to sell items from a South African Safari To Members. The costs vary and we accept Check, Friend and Family with PayPal and Zello
We thought Friends and Family was 0%
And if you wanted some sort of guarantee it =was 0-3%
I see some members charging 4& % 5% additional charges,
What is the true rate from Paypal?
or can anyone charge what they want????

Last time I used it, it was $0.25 flat charge plus 2.9% of the total for Goods and Services. For F&F it was always 0%. Some guys charge a bit extra for G&S due to the risk involved. If they catch you selling anything gun related, they lock your account with your money in it. I was able to withdraw my $1500 out of it but I have heard others say PayPal confiscated it. Just be aware of this before using it. Venmo is a subsidiary of PP so they are the same way.

 

[antelopedundee]

It ****es PP off, but you can also do a chargeback through your CC company to go after someone who scams you. That's the real protection from using a CC.

Venmo also adds a fee if you use a CC to transact cash through them. I had one person tell me Venmo closed his account for accepting no fee payment for G & S. If you feel that you need to send a message with your payment say Happy Birthday or thanks for the loan.

With the uncertainty over what the IRS will do with these kinds of sales expect more folks to want payment via no fee Venmo or PPFF.

 

[antelopedundee]

As an aside when you pay cash through PPFF or Venmo from a checking account it's YOUR money that's on the hook, but with a CC it's the CC company's money that's on the hook until you pay it back to the.

 

[VLD Pilot]

As an aside when you pay cash through PPFF or Venmo from a checking account it's YOUR money that's on the hook, but with a CC it's the CC company's money that's on the hook until you pay it back to the.

They can't touch YOUR money in your bank account that's tied in to Paypal. All they can lock up is the PayPal account money that's available in PayPal fund. You have to authorize any money removed from your bank account tied to PayPal.

 

[Handymike]

Looking at the costs to sell items from a South African Safari To Members. The costs vary and we accept Check, Friend and Family with PayPal and Zello
We thought Friends and Family was 0%
And if you wanted some sort of guarantee it =was 0-3%
I see some members charging 4& % 5% additional charges,
What is the true rate from Paypal?
or can anyone charge what they want????

Look into AFT from their bank to your bank, usually no charge on either end. Secure record
Mike

 

[antelopedundee]

They can't touch YOUR money in your bank account that's tied in to Paypal. All they can lock up is the PayPal account money that's available in PayPal fund. You have to authorize any money removed from your bank account tied to PayPal.

That's true, but IF you've paid and the money has already been drawn from your linked bank account your bank may or may not be all that willing to help you get it back IF the deal turns out to be a scam.

 

[bultinkle]

It ****es PP off, but you can also do a chargeback through your CC company to go after someone who scams you. That's the real protection from using a CC.

Venmo also adds a fee if you use a CC to transact cash through them. I had one person tell me Venmo closed his account for accepting no fee payment for G & S. If you feel that you need to send a message with your payment say Happy Birthday or thanks for the loan.

With the uncertainty over what the IRS will do with these kinds of sales expect more folks to want payment via no fee Venmo or PPFF.

This is why I still use it for online sales. PayPal will screw you, but your CC fraud protection has you on the back end.

PayPal FF is the same fee as goods and services if you use credit instead of your bank, but it's worth it to me for the fraud protection of my credit card.

 

[antelopedundee]

This is why I still use it for online sales. PayPal will screw you, but your CC fraud protection has you on the back end.

PayPal FF is the same fee as goods and services if you use credit instead of your bank, but it's worth it to me for the fraud protection of my credit card.

Do you know if the fee based PPFF transactions will get reported on the 1099-K?

 

[bultinkle]

Do you know if the fee based PPFF transactions will get reported on the 1099-K?

From my interpretation/what I was told no, they will not.

Another even better reason to add to the list

 

[hoghunter62]

Gun Tabs there is a fee but worth it to keep from getting ripped off.