Paypal Question

[Dana Fish]

Quick question for those Paypal experts

Once payment has been confirmed, how do you covert that payment to cash or transfer to your personal bank account?

Are there any fees for personal transactions?

Dana

 

[NewLondon88]

Quick question for those Paypal experts

Once payment has been confirmed, how do you covert that payment to cash or transfer to your personal bank account?

Are there any fees for personal transactions?

With Paypal? There's a fee for TALKING about a personal transaction.
Probably a few for thinking about it, too.

You can transfer it to your bank account right on the main page that
shows your transactions. It usually takes 3-4 business days. If you get
the Paypal debit card you can withdraw it at the bank and make a deposit
to your account. Costs $3, but sometimes it beats waiting for PP to
let you have your money.

 

[G1Pens]

There is no fee to transfer it to your bank account.

 

[Dana Fish]

Not sure why but I got hit with the 2.9% fee on the payment I just received. Is there a way tri get around this?

 

[Smitty37]

No

Not sure why but I got hit with the 2.9% fee on the payment I just received. Is there a way tri get around this?

The general answer is that if it is a payment for something, rather than just a transfer of funds you get charged 2.9% plus 30 cents. If it is sent as a gift you might not get charged anything but I'm not sure.

 

[Dana Fish]

Thanks for the info. I just wish I didn't lose my $7 to fees.

 

[TellicoTurning]

Thanks for the info. I just wish I didn't lose my $7 to fees.

CC companies have to make a dollar or two, so no matter who you use, you'll pay a fee to process the card... just add the 3-5% to your pricing...

 

[Jgrden]

Quick question for those Paypal experts

Once payment has been confirmed, how do you covert that payment to cash or transfer to your personal bank account?

Are there any fees for personal transactions?

Dana

GEt their debt card to get cash.

 

[ed4copies]

Transfers to your own checking account incur no fees.

As for the 2.9%, a credit card company will charge at least that much, plus a monthly fee, in many cases.

Years ago, when we wanted to be paid, we waited for the buyer to send a check----no fees---you COULD try that.

 

[widows son]

"There ain't no such thing as a free lunch. Banks ie Financial Institutions seem to come up with new fees every month. I closed my merchant account at a local bank after the fees cost me more than PayPal. I had a customer pay me with a Money Order and had a heck of a time getting it cashed. Forget about personal checks too. Get a PayPal Debit Card and transfer the payments to your bank account. BTW Credit Union fees and charges are usually less than most banks.