Paypal ?

[odinohi]

I just set up a paypal account. What info do I share with a buyer so he can pay me for an item? Also what about the fees? How much extra should I charge to cover these fees? Thanks, Tom

[DougGuy]

If you have a personal account they don't charge you any fees to accept payment. A seller's or business account they charge 2.9% but your buyer can choose that they are sending money to a family member or friend and they won't take any fees out.

Also, if your buyer puts anything gun, firearms, or bullet related in the dialog box when they make payment, you can kiss your paypal account goodbye because they will freeze it.

[Teddy (punchie)]

Information is give to them by Paypal. Only thing they need from you is the contact name or email address for the account.

You can use a gift or family I don't think they charge for this.

Paypal is hard to understand charges until you do it a few times.

I don't think they charge the person sending payment, only the one that get the payment is charged.

I have a totally different account for paypal, no way that money can be transferred in this account unless paypal or me placing funds at bank. This is just in case the system is ever hacked, I only have to watch that account and or change account etc.

A good tool Paypal but not perfect.

[cajun shooter]

There is a little more to it than what was posted. I have had a PP acount for over 5 years and I have made many purchases from members here and from other sites with it. I have made hundreds of buys of loading componets, loading equipment, and yes even guns with PP and have never had a single problem.
Now it is well known that PP has a anti gun stance but I myself feel that the greed to make money has over ridden that stance some.
They will go to your defence and help if you use them to purchase a large ticket item and you have a problem with delivery or the item is not as it was presented.
The best way to have an account is if someone buys from you and pays into your account, don't leave a balance in that account. Transfer the funds to your bank as soon as they are received.
My PP account is very handy in many ways. My wife and I have but one vehicle and it is much easier to do a buy by pressing a few keys than going 10 miles round trip to the USPS and buying a USPS MO. You also speed up the time in which you receive the goods you have purchased.
It has worked well for me these past 5 years but your use may be different. They have plenty of people who refuse to take it and I just buy from those that do.
Go to the PP site and read all the information they have for you to read. Never give out your PP information even if it's a family member. They will never call you and ask for info so don't fall into that trap either. If used correctly and if you follow all the safety rules then it can be a good thing to have. Yes they make a profit but if you find a business that does not then they will not be there long. Take Care David

[Tom Myers]

When a person pays you using Pay Pal, all they need is the email address that you provided to Pay Pal for your account.

The general transaction fee is 2.9% of the amount charged for the sale plus 30 cents.

So, If you wish to receive $100 for your sale, add 30 cents and then divide that sum by 0.971 (1 - 0.029) to arrive at the amount you need to charge for your sale.

100 + 0.30 = 100.30
100.30 ÷ 0.971 = 103.29557
So you charge $103.30 for your sale.
Paypal deducts 0.029 x 103.3 = 2.9957 = $3.00
$103.3 - $3.00 = $100.30
PayPal then deducts their flat fee of $0.30, leaving you with the $100.00 you needed for your sale.

Foreign transactions are charged at a slightly higher rate but I can't say what that is without looking it up.

Hope this helps.

[prsman23]

Also be careful using the gift option. You have ZERO recourse to get a refund if something goes wrong with a transaction.
If you use this option dealing with someone online and they never send you what you ordered. You are SOL.
PayPal will do nothing for you.
I always just add the feeing dealing with someone on a board that I've never dealt with. Better to pay the few bucks than to get hosed.

[Phoenix]

Paypal is far more complicated than anyone has stated. The gift option should never be used for sales. It is against the TOS and will get your account limited and it could take months to get your money. I just spent over an hour on the phone talking with a rep from their brand protection department. They get reports about large numbers of gifts from different regions around the country. It is not worth losing access to your money over this. Paypal fees are a part of the service.

If you are going to upcharge to cover the fees. Keep in mind it is against the TOS if you do. Exact upcharges like total / .971 +.31 (which is the exact amount of the fees for business accounts) If all your prices work back to round dollar amounts they will eventually get you for this too. It is just not worth the risk. Round the fee upcharge down to a round number and it will work just fine. The debit card will make up for whatever you lose doing this.

The fees are the same for business and personal accounts.(this is new, personal used to pay more, and farther back personal didnt pay any fees.) If you plan to do any real business get the premier business account and dont look back. Here is a link to the fees.

https://www.paypal.com/webapps/mpp/paypal-fees

Differences between account types

https://www.paypal.com/us/webapps/helpcenter/article/?solutionId=11828

Get the debit card. It is the best way to get money out of your paypal account. You can use money direct from your account. The card has a daily purchase limit of $3000 and daily withdraw limit of $400 (including bank fees)
Getting balance transfers is time consuming and limited. This way you can pay bills, buy groceries, Anything you can use a martercard for. (even sams club takes it) There is another benefit. you get 1% back on everything you use the debit card for. which helps make up for the fees they took earlier.

Info on debit card.

https://www.paypal.com/webapps/mpp/debit-card

I have had a paypal account for more than 12 years. (all the way back to their beginning, before ebay bought them)

One more piece of advice. Send invoices don't just send your email address.

When you send your email address they are prompted to add notes. And it is these notes that can burn you. Also allot of members dont send address information when they send it this way. When you send a paypal invoice it has what you want it to say in the invoice. They can put notes in but rarely do. It is easier for the buyer as all they do is click on the link in their email login to paypal and pay. They dont need to know anything. You get to use your own discrete descriptions. and if you have shipping entered paypal will prompt for their shipping address to send with the payment. Avoid words like Boolits, bullets, ammo, cartridges, gun, powder. anything that is not discreet. I use simpy different line items that say "brass" not "45acp brass" just brass and nothing else. Each line denotes the purchase with not other description. Their system watches for this stuff. The word "blanks" got me in trouble even though it was spent blanks they assumed it was live blanks (which is against the TOS)

I think paypal is a bunch of Nazis but it is a necessary evil. your sales WILL suffer if you dont take it (I lost over 90% of my normal sales. The same day I started taking paypal again I got sales) Like someone said, best to open an additional free checking account to add to your paypal account. you can transfer funds to and from it online with most banks, otherwise it is just a phone call or visit away. This way if paypal decides to take money they cant take money from your personal account.

I do all of the above things, and it works quite well.

[Rooster]

I too have a Pp account only because so many people like the service. I keep the balance as low as I can because they have been know to lock accounts and freeze your assets. They are antigun to the nth degree and if you do buy anything gun related it is best not to mention it in the transaction. I don't like using the "gift" option as they are a business and should make money with their service, it is only fair. The fees have been explained very well by the other posters and they aren't too draconian. My advice is to tread softly.

[uscra112]

After eight years I have dropped evilBay and Paypal for good. Had enough of their hostility to guns, their ever-increasing fees, and their imperious demands that I hand over my personal info. Y'know what? I don't miss it at all. I live rural so I do buy a lot of stuff online, and I buy most of it on Amazon now. I get just as good deals and often get free shipping. I use a link from the Second Amendment Foundation to enter Amazon-space, so SAF gets a penny or two from everything I buy.

[Driver man]

I buy stuff from all over the globe and without PayPal that would be a problem. PayPal just makes it so easy. I make sure my contents listed are very vague.

[fatelk]

Another thing to consider regarding paypal and fees: I used to ask for fees when selling something and receiving payment through paypal. I don't anymore. The convenience is worth it to me; not having to go to the bank or post office, or watch the mailbox. buyers seem to appreciate it too, and often will include extra for the fees even though I don't ask for it.

On the other hand, as a buyer I have no problem adding a little extra to cover fees. The convenience is worth it to me. If the item price is high enough that the fees add up to real money, then it's worth it to mail payment, but I mostly use it only occasionally for small stuff here and there.