Best option for taking payments online

[Bantou]

What is the best option for taking payments online? Has anybody tried using Vinmo or similar apps? I’m getting ready to list some stuff in S&S but I’ve heard PayPal takes a cut and USPS money orders take a while to get here.

Thanks,
B


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[RugerFan]

I have made payments with Zelle and it works pretty slick. It is free for the person paying, but I’m not sure about the person receiving payment. I have read that the participating bank gets charged .50 - .75 cents.


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[dangitgriff]

Paypal is free for friends and family (F&F). Wife uses F&F for all person-to-person transactions.

[Chad5005]

if they send it friends and family on paypal they pay the fees

[dangitgriff]

PayPal Friends & Family is free for both parties if you’re making ETF transfers directly from your bank account or if you have money in your PayPal account. There’s a small charge if paying with a credit or debit card.
They charge the fees if one party is a commercial business.

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[Bantou]

PayPal Friends & Family is free for both parties if you’re making ETF transfers directly from your bank account or if you have money in your PayPal account. There’s a small charge if paying with a credit or debit card.
They charge the fees if one party is a commercial business.

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That’s good to know. Thank you


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[Alvarez Kelly]

if they send it friends and family on paypal they pay the fees

Not true. Friends and family is free for both parties. However!! If you are buying a product from someone you don’t really know, there are no consumer protections. Paying with PayPal costs the receiver 3% plus 30 cents. It gives the buyer certain guarantees.

I send money via friends and family often. As a purchaser however, I tend to be wary of using it unless I really know the seller.

[StuBach]

I agree with what other have said. I’ve used Zelle once and it worked but PayPal has a long standing history with me. If your selling why not list as PayPal F&F or add 3% for normal PayPal. I’ve seen several sellers list like this. That way your buyers can extend the trust of F&F or if they are tepid they can add the cost of the regular fees to their cost and get the buyer protections.

[Kimber1911]

Venmo does sound good, my kids use it, same deal, its free if you don't transfer $ to a bank account, you just kind of use it as its own acct. If you want the $ out of it they charge a fee, but if you just leave it in there or pay someone with it, it is free.

[Bantou]

I agree with what other have said. I’ve used Zelle once and it worked but PayPal has a long standing history with me. If your selling why not list as PayPal F&F or add 3% for normal PayPal. I’ve seen several sellers list like this. That way your buyers can extend the trust of F&F or if they are tepid they can add the cost of the regular fees to their cost and get the buyer protections.

That’s a really good idea. I think I’ll go that route. Thank you


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[Chad5005]

Not true. Friends and family is free for both parties. However!! If you are buying a product from someone you don’t really know, there are no consumer protections. Paying with PayPal costs the receiver 3% plus 30 cents. It gives the buyer certain guarantees.

I send money via friends and family often. As a purchaser however, I tend to be wary of using it unless I really know the seller.

if youre buying from someone friends and family and you have it linked to your credit card it charges you a fee

[Alvarez Kelly]

if youre buying from someone friends and family and you have it linked to your credit card it charges you a fee

Yes. You’re right. That’s a convenience fee. I don’t think about that because I don’t use a credit card to send money to friends or family. Doesn’t cost a dime if you pay with your checking account or PayPal balance.

[MrWolf]

It may not matter but I have a checking account I keep for "local" use versus my primary online bill paying account. I link the local account with PayPal and find it as required. If something gets hacked or an issue I can at least mitigate the damage.

Ron

[RydForLyf]

I think of everyone here as a friend, so no fear of PP F&F for both purchase and sale.

[BP Dave]

FWIW, my Paypal account is hooked only to my credit card. Recently, at the seller's insistance, I used Paypay Friends and Family for a small purchase. Paypal charged a fee, and my credit card charged a cash advance fee. Not doing that again!

--DJ

[djryan13]

Venmo does sound good, my kids use it, same deal, its free if you don't transfer $ to a bank account, you just kind of use it as its own acct. If you want the $ out of it they charge a fee, but if you just leave it in there or pay someone with it, it is free.

I think it only costs money if u want it transferred to bank immediately. If you can wait a day, it’s free.

It really is a millennial thing though... make sure your privacy settings are good. There is a feed of all your transactions posted to all your contacts. I turned it off. But I can see all my friends and who they gave/got money from and what for... if marked.

[kerplode]

I would never use Paypal F&F, Zelle, or Venmo to buy something from someone on the internet.

There is no protection for the buyer built into these systems because they are not intended to be used for buying goods. Basically, if you send a F&F, Zelle, etc. payment to someone and they don't ship you anything, you're SOL.

If I see a post asking for these payments, I figure it's a scam and I move on.

[dangitgriff]

I’ve used PayPal to purchase items from sellers in this forum without issue. I would think you are at least partly correct in assuming there is a higher risk doing that from new members with lower post counts, i.e., those who haven’t established themselves as trustworthy.
Very good group of shooters and reloaders here, I feel privileged to be part of the community.

[Mal Paso]

PayPal does a good job for very little money. Western Union is like dealing with a loan shark if you have to send money.

[Handloader109]

Paypal is FREE to both parties under F&F. If your BANK charges a fee, then CHANGE BANKS! They are robbing you. I've done tons of F&F and zero charges. (Both directions)
But these other apps DO charge a fee if you want to get to your money. As long as you keep the money in their APP and use it from there they are free. Vinmo is one like that.

[Omega]

Paypal is FREE to both parties under F&F. If your BANK charges a fee, then CHANGE BANKS! They are robbing you. I've done tons of F&F and zero charges. (Both directions)
But these other apps DO charge a fee if you want to get to your money. As long as you keep the money in their APP and use it from there they are free. Vinmo is one like that.

Zelle has no charges that I can see, I use it all the time to send money to my kids and some friends. It is connected to my checking account through my bank, so the money gets there immediately. Zelle does have an account of it's own for those that do not want to connect it to their bank account, but I'm not sure of the charges that way.