Paypal new SEPA billing method

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Themis
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Paypal new SEPA billing method

Post by Themis »

so you can now pay with a SEPA transfer on paypal

i didnt try it, but i think it works like with a creditcard, you can instant buy things.

until now paypal chares 3,4%, that was ok, cause most people payed with credit cards, and the credit card companys give this "credit" not for free, they charge the seller something between 1-3%, so paypal added maybe a little bit for their service but mostly they just forwarded that fee to the seller.

as i see it now with SEPA there is no "credit". money comes straight from your bank account. so there is no creditcard-company fee. my bank definitly doesnt charge some % of the amount for a normal bank transfer.
so as i see it 3,4% are now a bit much for basically nothing. they just send money from one bank account into another, they dont even have to invest their own money. 3,4% for that is pretty outrageous.

i dont know if anyone cares, but that really bugs me. i think about deleting paypal from my billing methods on discogs.
with todays SEPA system in the EU, the transfer is max. 2 days.
Roy Koch
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Re: Paypal new SEPA billing method

Post by Roy Koch »

Basically what you are paying for when using Paypal is the fact that you are insured as a buyer. You don't have this insurance with a regular bank transfer. At the same time the money is instantly transferred, contrary to a regular bank transfer. Which is both to the advantage of the buyer and seller.

If you send money as a gift via Paypal you pay a much lower fee, since you no longer have buyer's protection.
Themis
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Re: Paypal new SEPA billing method

Post by Themis »

i always thought the fees are that high cause of the credit card payments, they obviously want a cut.

you argue with insurance, i guess its a good thing, i forgot that.
just one thing about instant money. for the seller its not really instant, cause he cant really spend it until the package arrived and he got good feedback. its like a credit from paypal to the seller. if the buyer wants buyer protection cause something is not right, paypal instantly wants the credit back. so what im saying its not really yours until the buyer gives his ok.

its just, selling low price records over discogs from your private collection isnt really worth it anymore for me.

discogs gets a cut
paypal gets a cut
i have to get packaging materials
and i have to run to the post office

i think i will only take orders over 10 euro or something like that in the future.
Roy Koch
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Re: Paypal new SEPA billing method

Post by Roy Koch »

Themis wrote:i always thought the fees are that high cause of the credit card payments, they obviously want a cut.


i think i will only take orders over 10 euro or something like that in the future.
Regarding the first sentence; I always pay via Paypal using a simple bank transfer. Just so you know, CC is not required to buy via Paypal

Regarding the second sentence, I'd suggest that as well. Else you are bound to make a loss.
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