Paypal fees?

[sue_gowin]

Hi there,

Sorry if this is posted in the wrong place, but I couldn't think of anywhere better to ask this. I'm a first-time point renter, and the person I'm renting from hasn't done paypal before. We prefer the idea of paying through paypal. How will we know how much money to add to our payment for the fees the seller will have to pay for the transaction? The money will be transferred from a canadian account (by credit card) to an american account, and it will be just over $1000US. Hope all this makes sense.... Any ideas??? Thanks in advance!!

 

[vicki_c]

The seller will have to tell you the amount - they can get it from their account when they create the payment request/invoice.

 

[Cee]

I think the Paypal fee is around $3-3.50. Not too bad.

 

[vicki_c]

I believe it is 2.9% + <$1 per transaction for sellers. On OP's amount, that would be closer to $30. But as I said, the seller can find it on Paypal.

 

[normr]

I haven't used it or tried it yet but I was checking this new alternative to Paypal called PopmoneyI, a lot of banks are participating with them, I have Citibank and all I need to do is go into my Citibank iPhone app like I'm paying a bill and there is a choice for Popmoney.

It says I just need to put in their email address to send money.

 

[Dean]

Hi there,

Sorry if this is posted in the wrong place, but I couldn't think of anywhere better to ask this. I'm a first-time point renter, and the person I'm renting from hasn't done paypal before. We prefer the idea of paying through paypal. How will we know how much money to add to our payment for the fees the seller will have to pay for the transaction? The money will be transferred from a canadian account (by credit card) to an american account, and it will be just over $1000US. Hope all this makes sense.... Any ideas??? Thanks in advance!!

IIRC, it should be around 3% if there's a CC involved OR if the seller has a professional account which you basically have to have for such situations.

 

[dbs1228]

I used chase person to person quick pay when I rented, the renter suggested it. No fees for me and all I did was set up a account using my e-mail address 2 days later it was approved and the next day the $ was in my checking account. The only information I gave the renter was the screen name I set up when creating the account. I received 2 prompt payments this way and the renter liked it since he had a chase credit card that he used. Sounds a lot like the citi bank in the PP. Good luck

 

[normr]

Citibank had a commercial on TV tonight about paying someone from your smart phone, with PopmoneyI

Here is a response from them about fees, and it sounds like the person getting the funds pays no fees, so this would be perfect for people renting their points, they shouldn't have to pay the fees and get less money for their rental, let the person who is trying to rent the points pay the fee.


"After further research into your inquiry, the Popmoney Customer Support Team would like to inform you that there are no fees for accepting payments via popmoney.com. Additionally, any fees attached to sending payments are determined by the financial institution offering Popmoney services to their customers. "

 

[dizzneebabe]

I used chase person to person quick pay when I rented, the renter suggested it. No fees for me and all I did was set up a account using my e-mail address 2 days later it was approved and the next day the $ was in my checking account. The only information I gave the renter was the screen name I set up when creating the account. I received 2 prompt payments this way and the renter liked it since he had a chase credit card that he used. Sounds a lot like the citi bank in the PP. Good luck

I was going to suggest this, too. I just used it to pay a friend money I owed her. Fast, easy and I did it right from my iPhone.

 

[js]

I use paypal and don't have an iphone.
I also bank with Chase.
Is there something like this with Chase.
I plan on renting my points in the near future and would rather not pay the paypal fees.
Thanks.

 

[dizzneebabe]

I use paypal and don't have an iphone.
I also bank with Chase.
Is there something like this with Chase.
I plan on renting my points in the near future and would rather not pay the paypal fees.
Thanks.

Yes, Chase has "Person-to Person Quick Pay." There aren't any fees (that I have found) associated with a transaction when both parties have a Chase account. You can set it up and send/request money via the regular website you use to access your account as well as use your smartphone.

 

[js]

Yes, Chase has "Person-to Person Quick Pay." There aren't any fees (that I have found) associated with a transaction when both parties have a Chase account. You can set it up and send/request money via the regular website you use to access your account as well as use your smartphone.

Wonderful news. Never knew about this!
Thanks so much!
It's nice to be able to use this without having to have an i/smart phone.
My phone isn't so smart

 

[keishashadow]

I use paypal and don't have an iphone.
I also bank with Chase.
Is there something like this with Chase.
I plan on renting my points in the near future and would rather not pay the paypal fees.
Thanks.

I've only rented a few times but have always priced the points high enough to cover my paypal fee (I just ignore the low-ballers)

 

[dbs1228]

Chase person to person was great, I did not have a chase account so i set 1 up online worked like a charm!