PayPal sent as gift

I agree with the poster from above; you are not buying a new car nor real estate so I think worrying about a 3%-4% surcharge is in fact VERY NITTY.

Chop Doc - not trying to get in your business but am curious just for myself, so you are saying you have been able to get sub 1.5% with Pay Pal?

Also it's been a few years since I had " a machine " but it used to be illegal to charge more for CC transactions , the way around that of course was a discount was offered for " cash " transactions. Is this still the case now a days ?

As far as charging more to use a card I don't know if it is still illegal or a contract violation. I wouldn't even consider trying it so it's not on my radar.


As far as where my rates for transactions are I would have to check where I am right now. I honestly don't remember and for at least the last couple years I have my book keeper and accountant deal with all that. I honestly don't want to. I delegate.

Every year I checked the competition and they could not or would not match what Paypal's rate and service capabilities were. My instructions to the financial team are to continue to do the same check every year and I know they have because I review the reports.

To get certain rates you have to meet a certain dollar value in transactions and revenue flow over a certain period of time. There are additional fees, obligations, etc beyond that percentage as well. These are quite serious and carry potentially huge liabilities.

For example, if you are processing Visa or MC payments you have to prove that you have the security features in place such as encryption and firewalls. You then are also subject to security audits by the service provider to prove that those features are in place.

Many (most?) small businesses fudge that. They don't have anything near what they are supposed to in security. They sign contracts and outright lie about having all that in place. It is simply commonplace. They assume a HUGE liability for potential data loss and financial loss. It isn't worth the risk at all. Contractually you are at a serious disadvantage if you don't have everything in place that you agree to.

Most of those liabilities simply don't exist when using Paypal as we do in our business.

In addition, Paypal integrates easily with our other softwares such as our custom built appointment system and others.

Their services are user friendly, adaptable, and streamlined.

If you are aware of a competitor that you would recommend please do so and I will forward that to my team. Remember, I provide a service, not a physical product, and I deal with clients all over the Americas, Europe, and even throughout Asia that need an easy and streamlined way to invoice and get paid that I can integrate with an appointment application, accounting, etc. And I expect a high level of service at all levels. If I have to pick up a phone and call a service provider myself I expect to be treated like the CEO of Microsoft is calling. I shouldn't need to do anything like that anyway, my time is too valuable.

I am always open to suggestions. My business model is not designed for a fast buck but is designed to be stable over the long haul so I won't step over dollars to pick up dimes.




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I'd like to know where the 3-4% fee comes in at.
PayPal does not charge the seller that much. Why is the seller charging the buyer that much?
 
As far as charging more to use a card I don't know if it is still illegal or a contract violation. I wouldn't even consider trying it so it's not on my radar.


As far as where my rates for transactions are I would have to check where I am right now. I honestly don't remember and for at least the last couple years I have my book keeper and accountant deal with all that. I honestly don't want to. I delegate.

Every year I checked the competition and they could not or would not match what Paypal's rate and service capabilities were. My instructions to the financial team are to continue to do the same check every year and I know they have because I review the reports.

To get certain rates you have to meet a certain dollar value in transactions and revenue flow over a certain period of time. There are additional fees, obligations, etc beyond that percentage as well. These are quite serious and carry potentially huge liabilities.

For example, if you are processing Visa or MC payments you have to prove that you have the security features in place such as encryption and firewalls. You then are also subject to security audits by the service provider to prove that those features are in place.

Many (most?) small businesses fudge that. They don't have anything near what they are supposed to in security. They sign contracts and outright lie about having all that in place. It is simply commonplace. They assume a HUGE liability for potential data loss and financial loss. It isn't worth the risk at all. Contractually you are at a serious disadvantage if you don't have everything in place that you agree to.

Most of those liabilities simply don't exist when using Paypal as we do in our business.

In addition, Paypal integrates easily with our other softwares such as our custom built appointment system and others.

Their services are user friendly, adaptable, and streamlined.

If you are aware of a competitor that you would recommend please do so and I will forward that to my team. Remember, I provide a service, not a physical product, and I deal with clients all over the Americas, Europe, and even throughout Asia that need an easy and streamlined way to invoice and get paid that I can integrate with an appointment application, accounting, etc. And I expect a high level of service at all levels. If I have to pick up a phone and call a service provider myself I expect to be treated like the CEO of Microsoft is calling. I shouldn't need to do anything like that anyway, my time is too valuable.

I am always open to suggestions. My business model is not designed for a fast buck but is designed to be stable over the long haul so I won't step over dollars to pick up dimes.




.

As I mentioned, it has been a bit of time since I had the machine. Most recently it was 2008. I do know I negotiated vigorously for several months to get where I ended up. I ended up at a flat rate of 1.12% for Visa and MC, and 2.02% AMEX ( AMEX was non negotiable with each and every merchant processor - due to AMEX ). My rate was flat rate period. No per swipe transaction fees or anything else. My average volume was $50,000 per month. One caveats, bulk of my transactions were over the phone, no Internet POS, no in person transactions. Due to the security concerns you mentioned to be compliant in my contract at time of service I was required to check I'd ( of course ) and get a signed knuckle buster imprinted copy.

I should add they were not strict as in checking every transaction for the knuckle buster BUT if a dispute came up and I did not have the signed knuckle buster copy it was an automatic loss --- even BEFORE any type of investigation .
 
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I'd like to know where the 3-4% fee comes in at.
PayPal does not charge the seller that much. Why is the seller charging the buyer that much?
The standard fee is 2.9% + 0.30. The higher the selling price the lower the total percentage it is.

For $50 it's $1.75 or 3.5%
For $100 it's $3.20 or 3.2%
For $400 it's $11.90 or 3%

and so on. So yes for amounts $400 and less it is 3+%
 
As I mentioned, it has been a bit of time since I had the machine. Most recently it was 2008. I do know I negotiated vigorously for several months to get where I ended up. I ended up at a flat rate of 1.12% for Visa and MC, and 2.02% AMEX ( AMEX was non negotiable with each and every merchant processor - due to AMEX ). My rate was flat rate period. No per swipe transaction fees or anything else. My average volume was $50,000 per month. One caveats, bulk of my transactions were over the phone, no Internet POS, no in person transactions. Due to the security concerns you mentioned to be compliant in my contract at time of service I was required to check I'd ( of course ) and get a signed knuckle buster imprinted copy.

I should add they were not strict as in checking every transaction for the knuckle buster BUT if a dispute came up and I did not have the signed knuckle buster copy it was an automatic loss --- even BEFORE any type of investigation .

Yup. You know what it's about.

AMEX has a very different business model from the others, so they don't negotiate with the vendors.

Yeah...that one dispute loss for the lack of a slip of paper is a pain. The potential audit that comes after is the real scary part.

We don't process any payments. We don't touch it. That's part of the beauty of it. It's all handled through Paypal.



I actually considered accepting Bitcoin a few years ago. Never had a client offer it, but thought about putting it out there that I would take it. But the market was too volatile. As it turned out a very small initial bitcoin account could have made me millions. I almost did it. The payoff was huge. Accepting payment from just one or two clients in Bitcoin would have led to my retirement though. Hindsight....



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The standard fee is 2.9% + 0.30. The higher the selling price the lower the total percentage it is.

For $50 it's $1.75 or 3.5%
For $100 it's $3.20 or 3.2%
For $400 it's $11.90 or 3%

and so on. So yes for amounts $400 and less it is 3+%


That's for personal accounts. Of course, the topic at hand is personal accounts I believe.

But it's different for business accounts. Cheaper.


.
 
Yup. You know what it's about.

AMEX has a very different business model from the others, so they don't negotiate with the vendors.

Yeah...that one dispute loss for the lack of a slip of paper is a pain. The potential audit that comes after is the real scary part.

We don't process any payments. We don't touch it. That's part of the beauty of it. It's all handled through Paypal.



I actually considered accepting Bitcoin a few years ago. Never had a client offer it, but thought about putting it out there that I would take it. But the market was too volatile. As it turned out a very small initial bitcoin account could have made me millions. I almost did it. The payoff was huge. Accepting payment from just one or two clients in Bitcoin would have led to my retirement though. Hindsight....



.

Hasn't the bottom fallen off for bit coin at this point now though?
 
Hasn't the bottom fallen off for bit coin at this point now though?

Now? Yes.

But if I had gotten in when I was thinking about it, then been smart enough to get out at the right time, I would have made a few million in about a year with a relatively small investment.

I sat down and figured it out one day. I tossed that piece of scratch paper...too depressing. LOL!

Of course, gotta know when to get in and when to get out...like anything else.




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Doc, One thing I did have in my favor was generally CC's were usually only used as a small deposit ( average 5% or so ) and balance was collected at time of service in cash ( I offered discount for cash payment and most selected this option ). I never really had a lot of charge backs or disputes but when I did it was only for a small amount. I had signed contracts on EVERY job prior to committing service so if any type of dispute ever did come up for any type of real money I just made a quick call to our lawyer buddy and he would call and talk to them and remind them even if they were to win dispute they would still be liable for total balance PLUS his expenses due to the signed contract. This was a very rare occurrence but they ALWAYS PAID - especially after they asked what HIS expenses were gonna be lol!
 
I invoice in advance and am paid in full in advance of services. No deposits.

Financing is offered through Paypal, and some of my clients have education allowances through their universities, residency programs, hospitals etc.

I am dealing in a niche service market with low overhead, no special insurance, no special licensing required, and no regulation or oversight. In many cases I am rescuing a career worth millions, or boosting a career into a whole different level, so their investment in my services is a drop in the bucket.

It's good.

I've never had any trouble with a client paying.

But I do pro bono work as well.



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I am looking to buy a shafts. Seller is asking to use PayPal as a gift. Don't mind paying the extra 4.5. Also when I have paid in the past. The link from them took me to a transaction. Product and price. This is just sending money to an email. Is it OK or not? Good itrader with 17 transactions. I have only made 2 transactions. So new to this. Thanks

Sent from my SM-G930V using Tapatalk
 
I am looking to buy a shafts. Seller is asking to use PayPal as a gift. Don't mind paying the extra 4.5. Also when I have paid in the past. The link from them took me to a transaction. Product and price. This is just sending money to an email. Is it OK or not? Good itrader with 17 transactions. I have only made 2 transactions. So new to this. Thanks

Sent from my SM-G930V using Tapatalk



If you send it as a gift, you get no protection. Pay the extra money and get the protection and piece of mind.
 
gifted money

According to IRS you will pay 10 times more in taxes if the money is gifted then earning it and claiming the transaction on your taxes...

There is zero seller protection using pay pal..............and Pay pal should protect the seller equally ... which they don't ................

Customers are getting screwed using pay pal too.
The fact is anyone can get screwed using pay pal and or buying and selling online.
Just like you can gets crewed buying anything from certain people in person .

One other thing , I rather do business with people who word is like gold ...
Some members in here will do everything possible and reasonable to make sure the product they are selling is everything they say it is in the description ...
These people might be few and far between but there are many many honest people in here ....................

You don't need pay pal if you are dealing with the right people and pay pal will not save you if you send monies as a gift.

Red flags .

New member zero posts, for the life of me I don't know why a new member cannot sale anything in the WFS section until they are a member for 90 days and has at least 50 posts.
This really a standard for wanting to sale in other forums for sale sections ...
It that's way in our action section.
But the wanted for sale section seem to have a open door to thieves .
No new membership probation period to sale in the WFS , ( doesn't that seem weird )?

Red Flags
BLURRY PHOTO"S just general I don't give a $hit cell phone photos out in the sun and you can see all of the cue little loan if there are dents and scratches .

Gift Pay Pal Payment.

Any new member who is from around NY and sale TS cues or cue lathes ...
We have one person who has come in here under 50 different names screwing people.

Some or most of the long time sellers know each other or know of each other and know those certain people just not going to do you wrong no mater how the payment is made.

Little story ,
AZB member gets his cues ripped off. I don't know this member in person and have never talked to him on the phone ...

I send this person a new custom cue and tell him to pay me asap knowing I may not get any money for a few months.......

Few Months go by, the person who I sent the cue to sends me the money because he is a man of his word............................................

I have sent cues out to several people and they have done exactly what they said they would ...

And the ones who are liars and didn't keep there word are gone because they are to embarrassed to show there chicken $hit faces.
 
Hopefully nobody has an aneurism over their choices.

If you want it, add the dam 3% and ship the money.

You could add comment: I added 3%, thanks.
 
As I mentioned, it has been a bit of time since I had the machine. Most recently it was 2008. I do know I negotiated vigorously for several months to get where I ended up. I ended up at a flat rate of 1.12% for Visa and MC, and 2.02% AMEX ( AMEX was non negotiable with each and every merchant processor - due to AMEX ). My rate was flat rate period. No per swipe transaction fees or anything else. My average volume was $50,000 per month. One caveats, bulk of my transactions were over the phone, no Internet POS, no in person transactions. Due to the security concerns you mentioned to be compliant in my contract at time of service I was required to check I'd ( of course ) and get a signed knuckle buster imprinted copy.

I should add they were not strict as in checking every transaction for the knuckle buster BUT if a dispute came up and I did not have the signed knuckle buster copy it was an automatic loss --- even BEFORE any type of investigation .

The actual Visa network collects discounts from every non debit transaction. Every transaction is liable for this. The bigger the rewards card presented, the higher they charge. The rewards don't come out of thin air. Therefore there is a certain threshold below which a card processor cannot offer pricing. Everyone pays them, there is no secret freebie. That number is above 1.12%. Therefore one of two things was happening. You were paying that price even on debit transactions which they charged you the percentage and processed themselves at a per item nominal fee, or there were other fees that you chose to ignore. There is no free lunch and lunch in the visa world starts at about 1.58%. It was being paid for somehow. Providers have many ways to confuse the issue and then lie about the rate, with almost no regulation or recourse.

23 years in retail business and counting. Seen and heard every card processing scam out there and this is an area of special interest to me. It's amazing how many folks in business have no clue how it all works and are ass raped forever.

JC
 
um......I believe it's illegal to have a "cash" price and a "credit card" price. In N.J. gas stations have been stopped from this practice. Curious about whether other states have addressed this.
 
I am looking to buy a shafts. Seller is asking to use PayPal as a gift. Don't mind paying the extra 4.5. Also when I have paid in the past. The link from them took me to a transaction. Product and price. This is just sending money to an email. Is it OK or not? Good itrader with 17 transactions. I have only made 2 transactions. So new to this. Thanks

Sent from my SM-G930V using Tapatalk

It is every bit as safe as sending cash in the mail.
 
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