Pay Pal .. on again off again?

[CG]

I just cant decide about staying with a PayPal account. Ive done it on and off a time or two. In my personal life I use cash mostly. Debit when I'm getting gas or going to the post office to get a postal money order, very little else. I do not use any charge cards at all, I carry one for an emergency but that's it.

If I read things right PayPal charges a 2.9 percent fee of whatever monies you receive from someone (not counting friends and family option), plus an additional 30 cents per trans action. Stuff starts to add up when you add shipping to the costs.

I know when I sell something on this board or elsewhere I ask for a postal money order. Personally I have no trouble running to the post office when I need a postal money order. What do you think the hassle factor is for most people though? Everything has become so much less complicated when you just click and send. But the thing I don't like is that there is a record of everything I ever buy and sell ... it just bugs me.

I'm ramping up to get rid of some more car and truck parts. Dialing in the shipping for now. So, just quit thinking about big brother watching me 24/7 and go with PayPal for convenience of the buyers?

Curious what you folks think.

[weq92f]

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I'm thinking for the convenience of your buyers, give them both options. If they want to forego the 2.9% up charge and use a money order, they get the discount. Otherwise they pay more for the ability to just point and click from the comfort of their easy chair.

You could do it that way ( maintain two different price points/payment methods for your end customers ) or just absorb the cost yourself and allow the customer to do whatever they want.

Either way, you'll open your sales up to a wider selection of potential buyers.

Paypal offers the buyer protection against bad transactions, unscrupulous sellers and other unfortunate things that can happen with Online transactions as well so there is that to consider. Not insignificant.

-klb

[Dukk]

^ That last bit is the big one for me. I buy far more than I sell (hoarder in training) and I don't mind getting a money order for an individual but for sure on a website or something, if they don't have PayPal, I move on.

[70STOVEBOLT]

There is a cost associated with everything you do today. You may not use credit cards to buy things, but you are still paying the fee the vendor/business is getting charged from the credit card companies, with the exception of gasoline, and maybe a few other things. I use PayPal for the convenience, but also for the protection. I sent a postal money order for something a few years ago, and it got lost in the mail. They are insured, but you have to pay a fee to get a new one issued. i don't remember what the value of the money order was, but it seems like I had to pay around $5 to get another one, and also had to wait at least 14 days. The only thing I don't like about PayPal is that you have to link a bank account to it. My PP account did get compromised a couple years ago, but my bank information is kept very secure so there was not any issues there. Someone in VA tried to by a $1000 laptop on eBay and I caught it right away because of the email notification. Now PP uses dual authentication, where no one can log into my account unless they have know my login info and have my cell phone, as they send a one-time-use code to my phone and that has to be typed in to log in. Good luck with whatever you decide to do. I personally have not had issues dealing with members of this board using either form of payment.

[Rich84]

My Kids made me open a Venmo account. No fees, if you are willing to wait 3 days for the $$.

[Stocker]

This has been an interesting discussion, even though I'm stuck in the Dark Ages without a dog in this hunt. So many different ways to handle financial transactions.

I got my first credit card (Chevron) after turning 18 in 1967, because my job involved a lot of travel. Can't recall when I first got a Visa card. I either pay cash, write a check (also starting at 18), or put it on the CC. Never had paypal, never used money orders. No debit card until a few years ago and I only use it at my bank's ATM. I like keeping things simple & basic.

If I bought & sold a lot on this board, I *might* consider PayPal. But I don't, so I won't.

[richard2717]

Originally Posted by CG

If I read things right PayPal charges a 2.9 percent fee of whatever monies you receive from someone (not counting friends and family option), plus an additional 30 cents per trans action. Stuff starts to add up when you add shipping to the costs.

I know when I sell something on this board or elsewhere I ask for a postal money order. Personally I have no trouble running to the post office when I need a postal money order. What do you think the hassle factor is for most people though? Everything has become so much less complicated when you just click and send. But the thing I don't like is that there is a record of everything I ever buy and sell ... it just bugs me.

I'm ramping up to get rid of some more car and truck parts. Dialing in the shipping for now. So, just quit thinking about big brother watching me 24/7 and go with PayPal for convenience of the buyers?

Curious what you folks think.

Once you put it on the internet it is there forever, they tell me. so it really does not matter what form of payment you work with if that is the case. I figure the cost is about the same (unless you are talking high dollar transactions) between PP and money orders. They both have pros and cons.

PP is pretty much instant transaction so you can feel comfortable shipping right away. It gives each some protection if doing it by the rules. A lot of stuff I ship is right thru the PP site at a discounted rate vs full price thru USPS. If you use them to ship thru it sends an automatic email with tracking to the buyer once you pay for the label. I don't need to leave the shop to do any of it other than drop a pre-labeled package off to the post office. In my case, i go to PO every day anyway so no big deal. You can even ship thru UPS with them. I don't since I already have an account with UPS. Down side is of course the fees and if using the shipping option you will need a digital scale that goes from ounces up to how ever many pounds you may be shipping. Guessing will burn you at the counter. I bought a battery one at Sams club a few years back that goes to 150lbs for less than $30

Money order/ check gets rid of most of the fees but you still have to pay for the money order. If you are receiving a money order you have to hope they have the money to cash it or you have to keep coming back or go to the bank to cash. Even with the money order they put your drivers license number on it so you are still being tracked if they want to, same with checks from the bank.

Richard

[kipps]

If you're selling stuff, being able to accept PayPal is critical, from my point of view as a buyer.

I've bought several items on Marketplace, and paid with PayPal. If I was buying it sight-unseen, I unchecked the "Friends and Family" box, and sent the additional percentage to cover the PayPal fees that the seller would incur.

In one situation, I bought the item while standing right there looking at it. I knew what I was getting, so I payed the exact amount with the "Friends and Family" option.

By unchecking the "F&F" box, you're essentially buying insurance on the purchase. If things go south, and the seller doesn't deliver, PayPal will supposedly go to bat for you. If you're making a purchase that you're completely okay with foregoing that insurance, the "F&F" box is fine.

When you list something for sale, say that you'll accept PayPal, but the buyer needs to add enough to the transfer to cover PayPal fees.

[special-K]

I think the modern people are killing themselves with convenience. What is everybody too busy with? Being on the internet? Watching TV? Having people mow their grass? It's not like most have chickens to feed or firewood to chop. I think it's no big deal to get a postal money order and that is how I have people pay for things I sell here. It's never been a problem and if it is a problem for someone I think it's time for some self-evaluation. It's like this, if you want to buy what I am selling you will have to find a way to get a postal money order or send cash

[flashed]

I personally got screwed over by PayPal once , will never have an account again with them . If I cant pay for it with cash , check or credit card I can do without it . I buy more than I sell especially here and never had a problem with the folks here .

[jjzepplin]

I like the security of Paypal in that if you don't get your product, they will refund your money. I buy a lot and also send money orders but by the time I figure in gas costs and such, I have paid the 3% already. I mow my own lawn and do all my own modifications, hang my own drywall etc. My Paypal is linked to my credit card so it is another added layer of protection. It also has saved me a couple times due to showing up to purchase one item just find something else I could not pass up. No cash on hand and no Bank for many miles away. Just payed for it with Paypal and off I went. Also had a fellow many miles away use Paypal to buy a top for a Blazer. He took a while to come get it and I almost refunded his money. He came through in time all good. Like anything, it has it's ups and downs.

[richard2717]

And if you don't think big brother is tracking your internet purchases and other stuff watch this

https://www.youtube.com/watch?v=270s...-YHEAWXiIAGFRI

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[CS1972]

FYI ! Notification of changes effective Aug 2, 2021 ----->Fees of course. Links within the PDF make it easy to find what will apply to your individual situation.

Quick link outlining changes: https://www.paypalobjects.com/market...ges-080221.pdf

[FleetsidePaul]

I use Paypal all the time. But almost exclusively as a buyer.I've sold a few things but not much.I've had some deals go wrong and always got my money back. Which is more than I can say for B of A, and Amazon. They told me I was S.O.L. Paypal was on it.

Postal money orders depend on where you live. I've lived in places where going to the post office was like going to the DMV. Long lines with one clerk that was in no hurry.

Sending cash always makes me a little nervous unless I know the reputation of the person on the other end. All they have to do is say that they never got the money and your done. Maybe they are lying, but maybe not. You just don't know.

And Big Brother can watch me all he wants. Nothing to see here.

[special-K]

Yes, every cash sale (money order) made is here on the internet to be found somewhere somehow with enough digging. But that's nowhere near the same, or nearly as easy, as simply auditing your bank/PayPal/credit card accounts. One stop shopping. I really don't see any entity for all the common purposes going about running down every detail of an individual's financial transactions with other private individuals. And with a money order the trail is only what is read on the internet, not physical proof. The postal m.o. is bought with cash and it's intended use is unknown to the post office. So is your name. You give them cash and they give you a blank money order that you fill in the blanks for buyer, seller, and addresses. Even then, no account number to make any connections with. I'm just saying it's not even an apples to apples comparison between the trail left by using money orders and using PayPal. Also, I've never had my cash hacked and I constantly get emails from scammers wanting to hack my no longer in use nor linked to any bank or credit card PayPal account. Seems to be a very popular hack

[FleetsidePaul]

Does a hooker stealing your wallet count as being hacked?

I'm just asking... For a friend.