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Should I open a Paypal account?
Thread poster: Armorel Young

Armorel Young  Identity Verified
Local time: 05:59
Member (2004)
German to English
Jul 12, 2004

I live in the UK, and a new client based in Spain for whom I have just done some work (quite a small job, although there will probably be more to come) wants to pay me by Paypal. I don't at present have a Paypal account so would need to open one. I'm a little wary as I know there have been plenty of negative comments about Paypal, and I've seen the website www.paypalsucks.com. But what is the other side to the story? Are there a lot of people out there who are quietly using Paypal and not commenting because they find it perfectly satisfactory? Is there a satisfactory alternative for inter-country transfers of fairly small amounts? I'd be interesting in hearing people's views.

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Rui de Carvalho  Identity Verified
Portugal
Local time: 05:59
English to Portuguese
+ ...
money matters Jul 12, 2004

There are alternatives indeed. I do prefer Moneybookers: it seems more transparent and, being based in Europe, we keep confidenter. For small amounts, anyway, Paypal seems to work smoothly. Not when it comes to greater amounts - be careful because the fees are unbearable.

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vixen  Identity Verified
Greece
Local time: 07:59
Member (2002)
English to Dutch
+ ...
Bank transfer cheapest payment method within EU countries Jul 12, 2004

Within EU countries, bank transfer is the cheapest way for international payments.

If you provide the IBAN and BIC (or SWIFT) codes when transferring money (in euro) from one EU country to another, and the amount does not exceed € 12.500,00 you will/should be charged the same transfer rate that applies to domestic money transfers.

I have recently transferred money from the Netherlands to Spain and was charged € 0.07! For incoming money transfers from other EU countries I was charged € 0.27.

For details, please refer to http://europa.eu.int/rapid/pressReleasesAction.do?reference=MEMO/03/140&format=HTML&aged=1&language=EN&guiLanguage=en

I also have a PayPal account, but I use this account only for small amounts from non-EU countries.

Of course, I don't how your UK-based bank will handle the exchange from euro to pounds.

[Edited at 2004-07-12 12:34]


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Heinrich Pesch  Identity Verified
Finland
Local time: 07:59
Member (2003)
Finnish to German
+ ...
Yes, but you should not be charged at all Jul 13, 2004

vixen wrote:

Within EU countries, bank transfer is the cheapest way for international payments.

If you provide the IBAN and BIC (or SWIFT) codes when transferring money (in euro) from one EU country to another, and the amount does not exceed € 12.500,00 you will/should be charged the same transfer rate that applies to domestic money transfers.

I have recently transferred money from the Netherlands to Spain and was charged € 0.07! For incoming money transfers from other EU countries I was charged € 0.27.



If its a Euro-transfer the costs should be 0,00 really. Also from Spain, if IBAN and BIC are provided.


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Ralf Lemster  Identity Verified
Germany
Local time: 06:59
English to German
+ ...
Not necessarily Jul 13, 2004

Hi Heinrich,

If its a Euro-transfer the costs should be 0,00 really. Also from Spain, if IBAN and BIC are provided.

That would depend on what is charged for standard euro transfers within Spain. The EU Directive does not prescribe a zero fee (although in practice, that's the case), but only stipulates that cross-border transfers satisfying certain conditions must be carried out at the same fee that is charges for domestic transfers.

Best, Ralf


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Jörgen Slet  Identity Verified
Estonia
Local time: 07:59
English to Estonian
+ ...
Unfortunately many banks do not respect the EU directive requiring this Jul 13, 2004

vixen wrote:

Within EU countries, bank transfer is the cheapest way for international payments.

If you provide the IBAN and BIC (or SWIFT) codes when transferring money (in euro) from one EU country to another, and the amount does not exceed € 12.500,00 you will/should be charged the same transfer rate that applies to domestic money transfers.


Unfortunately many banks do not seem respect the EU directive requiring this. Or maybe there are "legal loopholes" in the directive that allow banks to bypass it somehow.


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Ana Gómez
Local time: 06:59
Catalan to Spanish
+ ...
Is PayPal safe? Jul 13, 2004

Hi, I'm new to this site and PayPal is something which worries me too... I'm frankly relieved to know that bank transfers are common in the European Union; however, is it a good idea to open a PayPal account anyway? Is it safe? Thank you!

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Ralf Lemster  Identity Verified
Germany
Local time: 06:59
English to German
+ ...
Search the forums Jul 13, 2004

Hi Ana Cristina,
Use the search function (on the left) - you will find numerous threads in which PayPal was discussed, with both positive and negative comments.


HTH, Ralf


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ricoh
English to Italian
paypal thoughts.... Jul 14, 2004

Opinions regarding paypal are different ranging from very good to bordering insanity. The truth is somewhere in between as usually. While choosing paypal one must consider their small coverage as well as hefty fees. Once you decide that's not a problem you may also want to think about all of the frauds involving paypal. I'm not saying paypal is the blame here, it's just that with it being so widely used the scam attempts against their users increase exponentially. I don't think anybody would like to wake up one morning and find his/hers paypal account emptied. I know I don't, that's why I chose an alternative payment option.

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