Renting and paypal

Cyberc1978 · Jan 17, 2017

Hi

I have rented out some points which was banked from last year and since i would'nt be using them it seemed a good idea.

I got paid through paypal, I knew the buyer should add an extra 3% to the total. What I didn't know was that I had to pay roughly 3,4% to receive the money.

How are you guys going about it, are you just accepting or this there anything to be done?

regards

supersnoop · Jan 17, 2017

Cyberc1978 said:
Hi

I have rented out some points which was banked from last year and since i would'nt be using them it seemed a good idea.

I got paid through paypal, I knew the buyer should add an extra 3% to the total. What I didn't know was that I had to pay roughly 3,4% to receive the money.

How are you guys going about it, are you just accepting or this there anything to be done?

regards

Did the money traverse international boundaries? The paypal fee for domestic transfers is 2.9%+$0.30. International transfers cost more.

disneynutz · Jan 17, 2017

I have our renters pay by check.

:earsboy:

Bill

Cyberc1978 · Jan 17, 2017

supersnoop said:
Did the money traverse international boundaries? The paypal fee for domestic transfers is 2.9%+$0.30. International transfers cost more.

Yes they did. I'm from Europe.

My thought was that next time I rent I would tell the buyer to cover those fees or use the "friend/relative" option in PayPal.

Any thoughts on that?

supersnoop · Jan 17, 2017

I think the extra charge is just a cost of doing business from Europe. That's not a fee I'd expect to pay, so I'd put it on you. The friends and family option should be fine, but some people are reluctant to use it, since they can't use a credit card and they may think they're giving up some PayPal protection.

Cyberc1978 · Jan 17, 2017

supersnoop said:
I think the extra charge is just a cost of doing business from Europe. That's not a fee I'd expect to pay, so I'd put it on you. The friends and family option should be fine, but some people are reluctant to use it, since they can't use a credit card and they may think they're giving up some PayPal protection.

Just to understand it correctly the 3.4% in fee to receive the money is all extra because I'm not from the us?

supersnoop · Jan 17, 2017

Cyberc1978 said:
Just to understand it correctly the 3.4% in fee to receive the money is all extra because I'm not from the us?

Domestic fees at 2.9% plus 30 cents. International fees are 3.9% plus a few cents based on your location. I don't know where 3.4% came from.

https://www.paypal.com/en/webapps/mpp/paypal-fees

Cyberc1978 · Jan 17, 2017

Thanks for that. The 3.4% was only something I roughly calculated.

So to clarify would you ask the buyer to pay the domestic fee of 2.9% on top of the fee that the buyer is already paying or would you as a seller pay it?

supersnoop · Jan 17, 2017

Cyberc1978 said:
Thanks for that. The 3.4% was only something I roughly calculated.

So to clarify would you ask the buyer to pay the domestic fee of 2.9% on top of the fee that the buyer is already paying or would you as a seller pay it?

I personally consider the paypal fee a cost of doing business. It's more beneficial to the seller than the buyer. I think the seller should cover it.

Dean · Jan 17, 2017

Cyberc1978 said:
Hi

I have rented out some points which was banked from last year and since i would'nt be using them it seemed a good idea.

I got paid through paypal, I knew the buyer should add an extra 3% to the total. What I didn't know was that I had to pay roughly 3,4% to receive the money.

How are you guys going about it, are you just accepting or this there anything to be done?

regards

It's against PP rules to pay for timeshares either rental or otherwise. I won't personally be using them for this purpose. In the past when I have, I've had the other party pay the fees and I've refused to lie and do it friends/family to avoid fees.

supersnoop · Jan 17, 2017

Dean said:
It's against PP rules to pay for timeshares either rental or otherwise. I won't personally be using them for this purpose. In the past when I have, I've had the other party pay the fees and I've refused to lie and do it friends/family to avoid fees.

If it's against their rules, what difference does it make if you use the products/services option or friends and family?

Dean · Jan 17, 2017

supersnoop said:
If it's against their rules, what difference does it make if you use the products/services option or friends and family?

I no longer use them because it's against their rules which changed a few years ago. The other issue is that if one does use them, it increases risk, likely to both parties but definitely to the owner. But you're right, 2 wrongs don't make a right.

TinyTGO · Jan 18, 2017

supersnoop said:
If it's against their rules, what difference does it make if you use the products/services option or friends and family?

It's perceived protection. Because it's actually against their rules to use PayPal for timeshares at the moment, it's a tricky situation. Who's side will they take if their is a dispute?

This has been debated at some length a couple times here. If the buyer files a claim, will it get denied as it is not a protected purchase? If it is the seller that files the claim, does he/she get denied for the same reason? Do they just cancel the transaction (of course keeping the fees) because it shouldn't have happened in the first place? Tricky, I say.

I would say that if you are going to use Paypal, it would be safest for the seller to have a "send money to friends/family" transaction. That way, it's not disputable and the details of the transaction never come into play.

Timothy02359 · Jan 18, 2017

We always use the friends and family option.

Dean · Jan 18, 2017

TinyTGO said:
It's perceived protection. Because it's actually against their rules to use PayPal for timeshares at the moment, it's a tricky situation. Who's side will they take if their is a dispute?

Usually not the owner.

supersnoop · Jan 18, 2017

Dean said:
Usually not the owner.

Hence why the "friends and family" option makes sense. You can't dispute a friends and family transfer.

Cyberc1978 · Jan 18, 2017

Dean said:
It's against PP rules to pay for timeshares either rental or otherwise. I won't personally be using them for this purpose. In the past when I have, I've had the other party pay the fees and I've refused to lie and do it friends/family to avoid fees.

If you don't use PayPal anymore what payment option do you use?

I can't accept a check or actually I could but according to my bank it could take weeks or even months to clear, so that's not an option.

What other option do I have besides a regular money wire?

supersnoop said:
If it's against their rules, what difference does it make if you use the products/services option or friends and family?

Yes I'm not seen the problem with this one either.

Timothy02359 said:
We always use the friends and family option.

Do you tell the buyer to use that option or do you give them the option of paying all fees including yours and then use the goods option?

supersnoop said:
Hence why the "friends and family" option makes sense. You can't dispute a friends and family transfer.

Yeah that makes sense.

Dean · Jan 18, 2017

supersnoop said:
Hence why the "friends and family" option makes sense. You can't dispute a friends and family transfer.

I suspect you could if used for an option that is not allowed. Paypal would likely lock the account as well.

Cyberc1978 said:
If you don't use PayPal anymore what payment option do you use?

I can't accept a check or actually I could but according to my bank it could take weeks or even months to clear, so that's not an option.

I do personal checks but I don't have the international issue to worry about.

What other option do I have besides a regular money wire?

There are a number of direct money transfer options, my CU has one but there are other. I haven't used them though.

Yes I'm not seen the problem with this one either.

IMO it ultimately comes down to honesty. If you know it's not allowed (both for timeshares and for friends/family used for goods/services) it simply comes down to honesty and that's more than enough deterrent for me. If you don't know, then ignorance is bliss. Now you know.

Renting and paypal

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