How does Paypal work? I have some interest in my Hoodjax quick-fit Beetle engine cooler jobbies from overseas and I need to be able to sell them, and be paid, reliably. Is Paypal the best way, or should I look at some other method of getting $ from overseas?
[ Edited on 30-10-2006 by VWCOOL ]
ctefeh ·
VWCOOL,
Great for the buyer, fiddly for the seller.
Buyer : Set's up paypal account and linking to either credit card or bank, can "top up" or fund payments.
Seller : Slugged 3% of total invoice, has a minimum amount before you can transfer to your own account.
Also, you are fine sliced on currency conversion again. If I were setting up, I'd figure on a 5-8% markup to cover all the sundry charges while keeping a close watch on the exchange rates.
In the US in particular, adverts often now state that the 3% is included in total price. I have offered to use paypal to someone who's leery of it, saying I'll spring for the extra 3%.
Also, Paypal is a Fleabay subsidiary. Fleabay now disallows any mention of a seller tacking on the surcharge if the buyer uses Paypal. Again, lot's of people say in their adverts say "we'll discuss Paypal".
Overall (aside from my loathing of the Paypal/Fleabay rules 'n' regs) it is fairly painless and makes payment/reception of foreign currency a breeze.
Enjoy
Ctefeh
VWCOOL ·
Ahh, sounds all too hard... Might get them to pay into my Mastercard or something...
68AutoBug ·
ctefeh wrote:VWCOOL,
Overall (aside from my loathing of the Paypal/Fleabay rules 'n' regs) it is fairly painless and makes payment/reception of foreign currency a breeze.
Enjoy
Ctefeh
Yes,
I agree that it makes reception and payment in a Foreign currency a Breeze....
I even loved it when it was in US Dollars only...
Lee
vwjon ·
i've got a problem with paypal, my paypal account was set up in the UK but i cannot use over here in oz, nor can i put funds in to cover the cost of purchases!
i did spend some money that was in the account,but because its a uk account, i got screwed with the exchange rate!!
i guess i will get screwed again when i put oz cash into the account.
i know what you're all going to say,set up an oz account! but why cannt i just transfer my uk account?? i dont have an oz credit card either, the joys of not being tied down!!
68AutoBug ·
Yes,
I realise Jon, that Paypal isn't user friendly in some circumstances....
they have their own rules and regs that make it easy for them....
I always found the exchange rate from USA to Aust was OK....
don't know about the UK...
You have a problem.....
and talking to someone isn't easy....
making them understand Your problem....