New PayPal Fees Effective October 11, 2011

Karan Goel

13 years ago

If you send from a US account to a US account, it still shows $1 per recipient!

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BIG Mike Banned 13 years ago

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- Karan Goel 13 years ago
  
  Originally Posted by BIG Mike
  
  I know LOL
  
  I think it mostly affects cross border payments/currencies.
  
  Yup.
  
  For instance, sending a payment from Australia to the US would be "2.0% of the payment up to $50.00 USD"..
  
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Leslie B

13 years ago

Thanks for the heads up, I used to send affiliate payments through mass payment, guess I'll have to double check everytime now to see if it's worth it.

Leslie

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Taking it one day at a time!

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JasonParker

13 years ago

The mass payment fee always felt like some kind of loophole anyway. I guess it was only a matter of time before they said hey... We are leaving millions of dollars a day on the table.

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nadal619

13 years ago

Hey Big Mike ,

thanks for the update , I am really considering using Paypal to pay my affiliates .

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CDarklock

13 years ago

It's still 2% of the payment. Only the cap changes. A $50 payment is still $1 no matter where you are... but a $2,250 payment to a US recipient would be $1 from the US, $45 from Greece.

Meanwhile, sending a single payment from Greece is at least 1.9% + 0.35 Euros, which on a $2,250 payment would be about $43.20 - so you'd save money in the reasonably narrow band of to $1,750 to $2,350 at best, and the savings are less than $3.50 per recipient.

Of course, if you do less than $100k in monthly sales, your transaction rate exceeds 2% no matter what and mass pay is still always cheaper.

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Manny Derek

13 years ago

Huh! This is awful! Another burden for those who have workers. It would cost them so much by paying especially cross payments.

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Ken Leatherman

13 years ago

I have it on very good authority the reason for the fee change is all because of Big Mike. An inside Greek Government source told me they conspired with PayPal to increase BM's fee because of the money he was making. Then PayPal would kick back a percentage to Greece. PayPal then saw a chance to make more money off everybody that sent money across the borders. Yes that is the truth and nothing but the truth, so help me on John Schwartz's evil monkeys.

To top matters off Big Mike has told his employees they have to kick back the increased fees to him so he can drink beer on Friday and Saturday nights.

Here's the real kicker though my sources in PayPal tell me Big Mike is the only one who will get a kickback from PayPal on the increased fees. Yes I did hear it on the grapevine. But...

Gotcha! :p

The Old Geezer

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Craig Roberts Banned 13 years ago

I think I may have found a way to combat Paypal's exuberant fees..Working on the formula as we speak..
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- 1 reply
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- CDarklock 13 years ago
  
  Originally Posted by PaulHibbert
  
  I think I may have found a way to combat Paypal's exuberant fees..
  
  I think you mean "exorbitant," although the mental image of PayPal fees bouncing and jumping around with glee makes me giggle.
  
  [ 3 ] Thanks
  
  1 reply
  
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  "The Golden Town is the Golden Town no longer. They have sold their pillars for brass and their temples for money, they have made coins out of their golden doors. It is become a dark town full of trouble, there is no ease in its streets, beauty has left it and the old songs are gone." - Lord Dunsany, The Messengers
  
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  MoneyMagnetMagnate 13 years ago
  
  Originally Posted by CDarklock
  
  I think you mean "exorbitant," although the mental image of PayPal fees bouncing and jumping around with glee makes me giggle.
  
  You're both right -
  
  The fees are exorbitant...
  
  The PayPal Directors are the ones "bouncing and jumping around with glee"...they're exuberant!
  
  Thanks
  
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kindsvater

13 years ago

Ouch. That's a big difference. Fees - they always seem to defy gravity.

.

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bigwillstyle

13 years ago

Seems like everything you see in todays Markets are hiking prices. (IM World included)

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dvduval

13 years ago

Hopefully, there will always be competition to keep fees in check like moneybookers, moneygram, western union, etc.

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Joshua Rigley

Banned 13 years ago

Do you think this new fee structure will affect affiliate programs with instant paypal payments? I'm a bit confused about it...

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Ken Leatherman

13 years ago

Joshua,

As I read through what was posted on PayPal I didn't see where there would be a problem. It just means your fees are going to be higher, especially with Mass Payment. https://www.paypal.com/gr/cgi-bin/we...erview-outside

From what I could see there will be no slowing down of the payments, just higher fees, unless you keep all your affiliates in the U.S.

If someone has other information please give us a link to check it out.

Ken

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Joshua Rigley

Banned 13 years ago

Originally Posted by Ken Leatherman

Joshua,

As I read through what was posted on PayPal I didn't see where there would be a problem. It just means your fees are going to be higher, especially with Mass Payment. https://www.paypal.com/gr/cgi-bin/we...erview-outside

From what I could see there will be no slowing down of the payments, just higher fees, unless you keep all your affiliates in the U.S.

If someone has other information please give us a link to check it out.

Ken

Well, that's what I mean. Does instant payment qualify as a mass payment? I'm thinking not, but being ignorant of the facts I'm not totally sure.

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1 reply

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Danny McConnell 13 years ago

Exuberant fees. LOL.

Not laughing at you, just love the image.
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Melanie Crouse

13 years ago

Well, jumping from $1 fees to $45 fees would probably make them quite exuberant!

That is crazy! Netflix anyone....

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cashtree

13 years ago

Originally Posted by BIG Mike

Just a heads up - PayPal has changed their fee structure, based on your currency and location

The biggest change, at least for me was the cost of Mass Payments - it was a $1 per recipient, which was terrific...now it's up to $45 per recipient. I just did one this morning that cost $65 instead of $4, DoH!

It varies so they have a tool to calculate them here:

https://www.paypal.com/gr/cgi-bin/we...erview-outside

Ironic since just a few weeks ago you were defending paycrap till you were blue in the face

bitcoin is where it's at. Now you all are starting to understand.

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BIG Mike

Banned 13 years ago

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cashtree

13 years ago

Originally Posted by BIG Mike

I'm not sure where you got out of that post that I'd changed my mind about PayPal. :rolleyes:

I started the thread because no one else had mentioned it and it caught me by surprise. I wasn't complaining...I was informing.