New PayPal Fees Effective October 11, 2011

by BIG Mike Banned
22 replies
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#2011 #effective #fees #october #paypal
  • Profile picture of the author Karan Goel
    If you send from a US account to a US account, it still shows $1 per recipient!
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    • Profile picture of the author BIG Mike
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      • Profile picture of the author Karan Goel
        Originally Posted by BIG Mike View Post

        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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  • Profile picture of the author Leslie B
    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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  • Profile picture of the author JasonParker
    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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  • Profile picture of the author nadal619
    Hey Big Mike ,

    thanks for the update , I am really considering using Paypal to pay my affiliates .
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  • Profile picture of the author CDarklock
    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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    "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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  • Profile picture of the author Manny Derek
    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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  • Profile picture of the author Ken Leatherman
    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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    • Profile picture of the author Craig Roberts
      Banned
      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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      • Profile picture of the author CDarklock
        Originally Posted by PaulHibbert View Post

        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.
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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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        • Originally Posted by CDarklock View Post

          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!
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  • Profile picture of the author kindsvater
    Ouch. That's a big difference. Fees - they always seem to defy gravity.

    .
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  • Profile picture of the author bigwillstyle
    Seems like everything you see in todays Markets are hiking prices. (IM World included)
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  • Profile picture of the author dvduval
    Hopefully, there will always be competition to keep fees in check like moneybookers, moneygram, western union, etc.
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  • Profile picture of the author Joshua Rigley
    Banned
    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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  • Profile picture of the author 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
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    • Profile picture of the author Joshua Rigley
      Banned
      Originally Posted by Ken Leatherman View Post

      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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      • Profile picture of the author Danny McConnell
        Exuberant fees. LOL.

        Not laughing at you, just love the image.
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  • Profile picture of the author Melanie Crouse
    Well, jumping from $1 fees to $45 fees would probably make them quite exuberant!

    That is crazy! Netflix anyone....
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  • Profile picture of the author cashtree
    Originally Posted by BIG Mike View Post

    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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    • Profile picture of the author BIG Mike
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      • Profile picture of the author cashtree
        Originally Posted by BIG Mike View Post

        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.

        I'll stick with PayPal thanks - bitcrap is useless except for gamers and illegal activities.
        I'm sure paypal loves you, you're the perfect conditioned customer. Carry on.
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  • Profile picture of the author Damielle
    Thanks for the update, seems to mostly affect mass payments

    Need to checkout how the fees affect instant payments to affiliates
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