Accepting PayPal Payments

[pertosda]

Hi,

When selling a domain name and receiving the payment through paypal, is there any way to avoid/minimize the transaction fees?

I saw some people has two paypal accounts, one for when the payment comes from a paypal account with funds and other for when the payment comes through a paypal account credit card.

Is that the correct way? Suggestions welcome. Thanks

 

[RJ]

Yes, you can almost entirely eliminate the transaction fee if,

1) The buyer has funds already in his PayPal account
2) He uses MassPay feature to send the funds to the seller

The buyer pays a $1 fee to send the money, the seller pays no fees for receiving it. To use MassPay the seller simply uploads a tab delimited text file containing the seller's PayPal address and amount. See the instructions on the PayPal site.

 

[pertosda]

Thanks RJ, for your useful suggestions.

Is that how you all NP sellers work?

 

[IAmAllanShore]

Any sale greater than what is nominal to you (IOW: If you view the sale as a lot of money and it's large enough to meet fees) would be better off being completed somewhere besides PayPal, just fwiw.
Little, quick transactions are fine for PayPal (Just don't keep a balance in your account), but larger things, go the escrow route.
-Allan

 

[hanz]

Try MoneyBookers. Not fees for receiving money and all payments are irrevocable so you do not have to worry about loosing your money

 

[Ray]

it also depends on what paypal account you have. If you have the mechant account, you paymore to paypal then if u have the personal account

 

[pertosda]

thanks

 

[RJ]

Thanks RJ, for your useful suggestions.

Is that how you all NP sellers work?

I've used it a few times dealing with other NamePros members. I wouldn't say it is commonplace through.

Just an example, on a $600 transaction sending normally would cost the seller $17.70 in PayPal fees. If the buyer used PayPal MassPay, the fee is only $1, paid by the buyer. The savings are significant.

 

[pertosda]

I've used it a few times dealing with other NamePros members. I wouldn't say it is commonplace through.

Just an example, on a $600 transaction sending normally would cost the seller $17.70 in PayPal fees. If the buyer used PayPal MassPay, the fee is only $1, paid by the buyer. The savings are significant.

Sounds good... I will try to learn something more about this MassPay feature. Does it have any impact in the way the buyer pays (other than the $1 fee)?

The only problem I see is for little amounts, the fee is always $1, right? Also, the money from the buyer's paypal account must have funds? Cant MassPay be used when paying from a credit card?

Thanks