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Author
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Topic: How Do You Feel About Pay Pal?
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F15Falcon
Journeyman Posts: 98
From: el paso, tx.
Registered: Jan 2005
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posted 01-25-2006 10:28 PM
   
How do you feel about Pay Pal? It is an online payment service in which you can pay for goods or services. I sell alot on Ebay, and 95% of the money I receive is through Pay Pal. Ebay also owns PayPal, so they are making money coming and going. I am not sure of the rate that they charge, as I could not find the info when I looked a while ago, but I sold an item for $300.00 today, and I was payed through PayPal, and their fee was $9.00. Alot of sellers are no longer accepting PayPal because they do not like paying the fees. Alot of sellers are also trying to tack on the PayPal fees to the buyers, how do you feel about that? I think it is easier than waiting for a check or money order as the money is transfered to my Pay Pal account instantly. What do you all think?
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clevelandstyle
Gearhead Posts: 1312
From: central Indiana
Registered: Jul 2001
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posted 01-25-2006 10:36 PM
I use paypal a lot and love the convenience. ------------------
Ben
Grabber Green '70 Mach I 351C 4V
Robbin Egg Blue '79 Fairmont 408C 4V, 10.50 127 MPH
Prowler Purple '87 T'bird Turbo Coupe
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Scott H
Gearhead Posts: 910
From: Chicago area
Registered: Mar 2005
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posted 01-25-2006 10:55 PM
I don't mind paying for the convenience.
It's better than making the buyer go fetch a money order and then waiting for snail mail to bring it. Cause then I gotta go cash it or deposit it. With PayPal I just transfer the funds electronically.For the truly paranoid, I imagine the government will find a way to track income thru PayPal and hold our feet to the fire to pay taxes on it. Of course I already do that, but I was speaking for all the other folks out there who may be forgetting to report this additional income.
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Big D
Gearhead Posts: 6076
From: WELLS, NEVADA USA
Registered: Nov 2000
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posted 01-25-2006 11:38 PM
I use PayPal for all purchases on ebay.. In fact Alex takes it and a few other merchants offer the service also..I agree with Ben,, it's a great convenience.. It helps keep my CREDIT CARD BALANCE down also.. ------------------
Don
6T6 Fastback
331 STROKER, T-5
Metallic Royal Blue & Silver
Candy Orange-Red Flames by McGrafix
My Pics
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Toronado3800
Gearhead Posts: 1044
From: St. Louis, MO
Registered: Jul 2001
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posted 01-26-2006 02:31 AM
Its ok. Used it 20 times or so with no ill results. Someday after competition rises it will get cheaper.
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Dreamcometrue
Gearhead Posts: 598
From: New-Brunswick,Canada
Registered: Apr 2004
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posted 01-26-2006 07:53 AM
I love it. Since I buy on ebay, mostly in $US, I know upfront how much it'll be in $CA.
Very convenient for a buyer but I can see where a seller has a problem with paying the transaction fee.
Rino 
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Fastback68
Gearhead Posts: 3946
From: Sucat, Paranaque, Philippines
Registered: Jul 99
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posted 01-26-2006 08:21 AM
PayPal owes me. I gave them the sign-up fee, only to be told after the event that they can't have sellers with bank accounts in the Philippines.
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68 S-code GT
Gearhead Posts: 3236
From: Sayreville, NJ, US
Registered: Mar 2000
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posted 01-26-2006 08:42 AM
It was nice before Ebay bought them because it didn?t cast sellers or buyers anything. You didn?t have to give them any bank information and just worked off a credit card. All they asked was that if you sell anything to keep a balance on there so they could invest that money.Ebay owns it now and you have to register a bank account with them as a new member. If you sell big $ items then you have to get an account in which they charge you for accepting money. I think they still have an option where they limit you money intake and it does not cost you anything. The Ebay PayPal also used to not charge the seller if the money came from a buyer who had funds save on their account from selling stuff. They make money on shipping fees, which I think is ridicules and will charge me money for PayPal to send me a check when I cash in some of my earnings. I?m grandfathered and don?t have a bank account liked to the to transfer money. That stuff just worries me! I think the fees are tiered and go something like this, $0.30 + 2.7% of the money transfer. It is a quick, easy and relatively safe way to transfer money though.
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68 S-code GT
Gearhead Posts: 3236
From: Sayreville, NJ, US
Registered: Mar 2000
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posted 01-26-2006 08:49 AM
quote:
Originally posted by Fastback68:
PayPal owes me. I gave them the sign-up fee, only to be told after the event that they can't have sellers with bank accounts in the Philippines.
They charge you money to join now? If I remember correctly they would give you $10 when you joined and $5 for anyone who said that you referred them to PayPal. I think Ebay has just fowled it up along with Andale. Andale used to have free image hosting before Ebay took them over.
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sigtauenus
Gearhead Posts: 3291
From: Va Beach
Registered: Jun 2000
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posted 01-26-2006 08:57 AM
I like paypal. I sell enough on ebay to qualify for the merchant rates, right now its about 2.5% of the transaction plus .30.A lot of people complain about the cost, but try to set up a merchant account direct with Visa or Mastercard and see what you pay then.  Paypal is much more convenient and the fees are very reasonable considering other options. I also am currently getting about 4.3% interest on deposits as I have it designated as a money market account. Name another bank paying that right now on deposits you have immediate access to. Unfortunately Paypal is not an actual bank so deposits are not FDIC protected. Like others have said, I get paid right away for sales, I use it for my own purchases, and am pleased with the convenience it gives me. Its not perfect by any means, there are still some issues with who they side with in cases of ebay fraud and their freezing or taking of funds in those cases, but overall, if you follow the rules, you'll be fine.
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SteveLaRiviere
Administrator Posts: 45913
From: Saco, Maine
Registered: May 99
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posted 01-26-2006 07:48 PM
I use it whenever I can, and use a credit card to give me an extra layer if things go sour.I really get suspicious when seller state they won't accept PayPal, I'll usually pass on the item unless I really need it. ------------------
'70 Mustang Mach 1 - '70 Mustang Convertible - '72 Mustang Sprint - '94 F-150 XL
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clevelandstyle
Gearhead Posts: 1312
From: central Indiana
Registered: Jul 2001
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posted 01-26-2006 08:19 PM
quote:
Originally posted by SteveLaRiviere:
I really get suspicious when seller state they won't accept PayPal, I'll usually pass on the item unless I really need it.
Me too. The worst thing I see happening is all the fraudulent emails I get telling me my paypal acount will be shut down if I don't "click the link". They look very official and authentic. Don't be fooled by these emails. If click the link, the scammers get your info and your money. I've got a friend who was stung by this.
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Ben
Grabber Green '70 Mach I 351C 4V
Robbin Egg Blue '79 Fairmont 408C 4V, 10.50 127 MPH
Prowler Purple '87 T'bird Turbo Coupe
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SteveLaRiviere
Administrator Posts: 45913
From: Saco, Maine
Registered: May 99
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posted 01-26-2006 08:34 PM
quote:
Originally posted by clevelandstyle:
Me too.The worst thing I see happening is all the fraudulent emails I get telling me my paypal acount will be shut down if I don't "click the link". They look very official and authentic. Don't be fooled by these emails. If click the link, the scammers get your info and your money. I've got a friend who was stung by this.
I always forward those to [email protected] ------------------
'70 Mustang Mach 1 - '70 Mustang Convertible - '72 Mustang Sprint - '94 F-150 XL
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pmhvps
Gearhead Posts: 540
From: Lowville,Ontario,Canada
Registered: Oct 2003
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posted 01-28-2006 11:17 AM
quote:
Originally posted by SteveLaRiviere:
I use it whenever I can, and use a credit card to give me an extra layer if things go sour.I really get suspicious when seller state they won't accept PayPal, I'll usually pass on the item unless I really need it.
I'm with you on that one Steve! 
Mike.
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67stang
Gearhead Posts: 2481
From: Panama City, FL
Registered: Jun 99
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posted 01-28-2006 01:49 PM
I don't have anything negative against them, but really don't have anything positive against them either...I use them to pay for items, but I am not heavily into buying and selling on E-Bay. I used to sell items quite regularly on e-bay until they jacked their prices up, and I just got fed up with it. Price of doing business? Maybe... But you have to pay to list, then pay when it sells, then pay paypal to accept payment.
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sigtauenus
Gearhead Posts: 3291
From: Va Beach
Registered: Jun 2000
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posted 01-28-2006 03:08 PM
quote:
Originally posted by 67stang:
But you have to pay to list, then pay when it sells, then pay paypal to accept payment.
Yep, the math for me works out to be about 10-12% of my sales goes to ebay in one form or another. BUT, I shudder to think what I'll pay for a brick and mortar shop that will only be seen by locals vice the access worldwide ebay gives.
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DidgeyTrucker
Gearhead Posts: 1637
From: Greenbrier, TN USA
Registered: Oct 99
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posted 01-28-2006 08:21 PM
It costs me a LOT less as a buyer to pay with PayPal. I have had the money in the buyer' "hands" within five minutes of the end of auction. And i did it all without leaving my house.I also tend to skip auctions that don't take PayPal. I hate going by the bank to get cash and them running to the post office to buy and send a money order. One time a seller told me he never received my Postal money order. I had to wait 30 days for the Post Office to investigate. They determined he did receive it and cashed it. This took over five weeks to straighten out and ship my purchase. The same thing happened with a PayPal purchase. After two days of checking my account and the sellers account and returning emails, that transaction was straightened out. What would it cost a seller to rent a booth at an antique mall or wait for the yearly swap meet to sell some items? I think in the longrun PayPal would be cheaper. Tracy
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