Accepting Paypal For Credit Card Payment.

Business By mindy1204 Updated 22 Apr 2010 , 11:09pm by mindy1204

mindy1204 Posted 22 Apr 2010 , 10:47pm
post #1 of 6

I have a personal paypal account and was thinking of using it for credit card payments. How do you all handle the fees. Do you just count it as part of doing business or add a fee for it?

5 replies
sari66 Posted 22 Apr 2010 , 10:50pm
post #2 of 6

I use it and don't charge an extra fee.

DebbyJG Posted 22 Apr 2010 , 10:53pm
post #3 of 6

I don't charge extra fees, either. I see it as a convienience for me (no gas or time involved to go to the bank with a check), plus I am more likely to get a quick booking when they can click "Pay Now" right there. So, yeah, I lose a percentage of each payment. But I think it's worth it.

cownsj Posted 22 Apr 2010 , 10:56pm
post #4 of 6

If you were to accept credit cards for payment, you'd pay a fee as well. But I love the convenience of paypal, both as a buyer and to receive payment. Quick and easy

DebbyJG Posted 22 Apr 2010 , 11:09pm
post #5 of 6

Also, I should note that it's actually goes against your agreement with PayPal if you charge a fee, or charge more for a transaction, for a paypal payment. If Paypal finds out that you do this, they will revoke your account.

I was selling some used homeschool books a couple years ago and didn't realize this rule was there. I asked for a couple dollars extra on some books one time when the person who was buying them wanted to pay with non-bank secured credit card (which then the higher Paypal fee is enacted), to cover my "loss" on the transaction. THe person paid, I sent the books, never heard another word from them, but then a couple weeks later I got a nasty gram email from PayPal saying that I could not charge fees for PayPal, and if I did so again I would lose my account.

So, either use the convienience of PayPal and deal with the fees, or just accept cash or check payments. I decided, for the reasons I said above, to deal with the fees. icon_smile.gif

mindy1204 Posted 22 Apr 2010 , 11:09pm
post #6 of 6

Thanks everyone...

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