Paypal and DVC Rental

[momof3poohlovers]

Does anyone know if there is a fee if someone sends you a payment through paypal? I had to rent my points for the first time because I received Developer Points when I purchased BLT and they had to be used by Oct. 3 and there was no way I could use the points by then(we already have 2 trips planned this year and with me being a teacher, there was no way for me to make another one). So, I rented my points but the person wants to pay using paypal and I was wondering if it would cost me anything and if it would, how much? Thanks.

 

[jcf]

Have them add 3% to cover the fee.

 

[jekjones1558]

Do you need a special business PayPal account to receive payments? I have only used PayPal a few times to make payments and never to receive payments.

 

[bookswin]

Paypal fees run about 2.9% down to 1.9%, depending on your monthly volume.

It's pretty straightforward. Good luck.

 

[momof3poohlovers]

ok, I got a couple of conflicting reports so when I got home from work today, I called Paypal directly. I was told that it is only 2.9% if you have an upgraded account but because I only have a personal account, it would be 4.9% plus 30 cents if they used a credit or debit card and free if they used their personal account. I was also told that I could not receive more than $500 per month in funds so it won't work for me without upgrading my account which I am not willing to do as I never use Paypal. Oh well, thanks for the help everyone!

 

[jcf]

Accepts no CC, and is appx 3%

 

[Sheribo]

I usually send money by email transfer. Although Paypal does offer payment protection.

 

[codina818]

I always worried about paypal payments... you don't know who you are really sending the money too..

Why can't they just send a certified check or money order? Renting points are always a little chancy for me...

 

[disneynutz]

I always worried about paypal payments... you don't know who you are really sending the money too..

Why can't they just send a certified check or money order? Renting points are always a little chancy for me...

Because certified checks and money orders are easily to counterfeit. Even if the bank releases the funds to you and later determines that the certified check is no good, they will go after you for their money.

 

[DisneyWalker44]

If I ever rented my points, I'd just take a personal check. You're probably asking for payment well in advance, so any problems with the check will have time to surface.

Paypal just adds expense to the transaction and given the renter the opportunity to dispute the deal and ask Paypal to take the money back from you. The only advantage to Paypal is speed, which should me unimportant if you are doing this months in advance.

 

[bookswin]

If I ever rented my points, I'd just take a personal check. You're probably asking for payment well in advance, so any problems with the check will have time to surface.

Paypal just adds expense to the transaction and given the renter the opportunity to dispute the deal and ask Paypal to take the money back from you. The only advantage to Paypal is speed, which should me unimportant if you are doing this months in advance.

Other advantages to Paypal are:

1. The buyer can use his credit card, which he may want to do or may have to do.
2. People using credit cards tend to spend more than people paying cash, so you might get a bigger sale.

I buy/sell on ebay and therefore have to use Paypal sometimes. I always advise people accepting Paypal to keep a separate bank account (and empty it promptly) from their main personal one, to minimize the possibility of Paypal grabbing a bunch of money.

I must admit that Paypal is a lot better than it used to be.

I agree about taking a personal check from a renter, all things being equal. If it bounces 10 months before the reservation, it's hard to get hurt too bad.

 

[Brian Noble]

I find that most folks like the option of using paypal. A very few prefer to use checks but not many. To keep things simple, I include the paypal fee in my end when I'm quoting a price, rather than charge for it separately.

I like paypal payments funded by credit card, because I get paid right away. I prefer not to take payments by e-check, because you have to wait for them to clear.

 

[momof3poohlovers]

Wow! Thanks for all of the insight! I have to admit, I will probably never rent my points again! The problem is, their reservation starts March 15th. They were supposed to send me the first half of the payment within 7 days of the confirmation and then final payment by Jan. 31st. It took forever(almost 3 weeks) for MS to make the reservation(developer points)so by the time they got the reservation (Jan. 20th)they asked if they could just send a check for the full amount. I reluctantly agreed but now it is Jan. 31st and I still don't have any payment at all. They said they mailed it over a week ago Friday, the 23rd but I still don't have it. When I contacted them yesterday about the missing check, they asked if it would be ok to use paypal if I didn't get the check. The problem I have is I need to make sure any payment I receive clears before the 30 day cancellation policy(I don't want to be stuck with points in holding if I have to cancel).

Paypal assured me that if they deposited the money into my account and used their bank account instead of a credit or debit card, there was NO FEE(as long as it's not coming from an ebay account which it wouldn't). Everyone on here is saying there is so I don't know who to believe. Another problem is because I only have a personal account, I am limited to only receive funds 5 times a year(not a problem) but I can only receive a maximum of $500 per month. They owe me more than $500 so I am not sure what to do. We leave for Portland, OR on Wed. morning so I am just hoping the check comes before then.

Does anyone only have a personal account(free) and had someone transfer money from their bank account not a credit card? Were you charged anything? Thanks.

 

[MagicalPins]

Ok, just thought I would share my experience with PayPal. I am an eBay powerseller and have a couple hundred transactions a month with PayPal. In order for the person receiving the funds to be protected from chargebacks or false claims that something was not recieved, PayPal requried all sellers to have delivery confirmation that is viewable online to show they delivered the goods. For transactions such as this where there are no goods changing hands, nothing being shipped, should the person that sent the money ever tell paypal they didn't get what they paid for, PayPal will always side with the buyer and refund their money.

With this type of transaction, the person recieving the money is not covered for anything and should the buyer ever say anything, they will get a free vacation with your points.

I would not risk it unless you personally know the person you are renting too.

 

[momof3poohlovers]

Ok, just thought I would share my experience with PayPal. I am an eBay powerseller and have a couple hundred transactions a month with PayPal. In order for the person receiving the funds to be protected from chargebacks or false claims that something was not recieved, PayPal requried all sellers to have delivery confirmation that is viewable online to show they delivered the goods. For transactions such as this where there are no goods changing hands, nothing being shipped, should the person that sent the money ever tell paypal they didn't get what they paid for, PayPal will always side with the buyer and refund their money.

With this type of transaction, the person recieving the money is not covered for anything and should the buyer ever say anything, they will get a free vacation with your points.

I would not risk it unless you personally know the person you are renting too.

MagicalPins- Thank you! You have made it easy for me. I will not be accepting Paypal. I never imagined that renting my developer points would be so complicated. I rented the rest of my points to 2 other families and so far things have been going fine with those contracts. Thank goodness!