PayPal-related questions
Thread poster: ICL

ICL  Identity Verified
Spain
Local time: 02:08
English to Spanish
+ ...
Jul 14, 2006

Hello,

I just made a quick search in the forum database and could not find a specific answer to a couple questions I have about using PayPal (if anyone can refer me to a forum link where any of these specific questions have been asked and/or answered, please let me know).

1) What do you consider a recommended maximum amount to be received through PayPal?

2) Has anybody here had a negative experience with this system in case of high amounts of payment received through this system?

Thanks,

Ivette


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Heinrich Pesch  Identity Verified
Finland
Local time: 03:08
Member (2003)
Finnish to German
+ ...
My only experience Jul 14, 2006

was 2500 Euro, which I withdraw as soon as possible.
Regards
Heinrich


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xxxPFB  Identity Verified
Local time: 02:08
English to French
+ ...
About 1,000 euros Jul 14, 2006

About 1,000 euros was the maximum that got paid through PayPal.

Quite a few of my invoices are paid through them and I withdraw the funds as soon as I get them.

I've used them for about 5 years now and have never had any problem.

[Edited at 2006-07-14 14:32]


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Walter Landesman  Identity Verified
Uruguay
Local time: 22:08
Member (2005)
English to Spanish
+ ...
answers Jul 14, 2006

ICL wrote:



1) What do you consider a recommended maximum amount to be received through PayPal?


About 1000 USD or euros sounds reasonable.

ICL wrote:



2) Has anybody here had a negative experience with this system in case of high amounts of payment received through this system?

Not me. I have never had any problem. Hope I won`t ever.

Walter


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Courtney McConnel  Identity Verified
France
Local time: 02:08
French to English
+ ...
Paypal fees higher in Europe than in America? Jul 14, 2006

Hi!

I have not yet been able to get a client to pay me via Paypal, but I have used it to pay vendors and to receive money from ebay sales. I consider Paypal extremely reliable. They have access to my bank account, so they have to be! I tend to leave money in my Paypal account as there are always ways to spend it from there.

I don't know if you're purely Germany-based or what, but it might be of interest to you that while Paypal charges a percentage in Europe and a drawdown fee (the last time I did it), in America (if you have an American account), there is no charge (to the best of my recollection).

Perhaps someone reading this who's used Paypal more can confirm this??

Anyhow, I've been wondering all day about how to transfer money from my US account to my French account when I'm on vacation in India, and you just gave me an idea! Thanks! : )

[Edited at 2006-07-14 15:18]


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Astrid Elke Witte  Identity Verified
Germany
Local time: 02:08
Member (2002)
German to English
+ ...
The disadvantage is the large fee for higher amounts Jul 14, 2006

Hi Ivette,

I have extensive experience of using PayPal.

1) Find out the fees for an international bank transfer, in the event that you were to agree to pay all the fees.

2) Consider the following:

The most usual PayPal fee is 3.9% of the amount received + EUR 0.35.

Examples:

a) Customer A wants you to do a job in the value of EUR 100. You discover that a bank transfer fee, if you were to bear the costs, would be about EUR 17. You would therefore receive EUR 100 - EUR 17 = EUR 83.

You therefore allow Customer A to pay by PayPal. In that case, it goes without saying that the fees are charged to you. However, the PayPal fee on EUR 100 would be EUR 3.90 + EUR 0.35 = EUR 4.25. Therefore you will receive EUR 100 - EUR 4.25 = EUR 95.75.

b) Customer B wants you to do a job in the value of EUR 1000. Bank transfer fee would be about EUR 17.

If you were to allow Customer B to pay you by PayPal, the charges would be: EUR 39 + EUR 0.35 = EUR 39.35.

Clearly, you therefore ask Customer B to pay by international bank transfer, and, if necessary, you agree to pay the EUR 17. You have then saved EUR 22.35 in fees!


The above is just by way of example. In your case, you will need to find out exactly what an international bank transfer normally costs, as well as the PayPal fees in the case at hand. It varies slightly with countries and currencies. However, 3.9% is the most common rate. A good idea is then to work out, once and for all, when you have a couple of minutes to spare, at what price level you change over from PayPal to bank transfer.

As I have said before in these forums, maths is the most important skill for a translator to have.

Astrid


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Angel Biojo
United States
Local time: 17:08
English to Spanish
Paypal services Jul 14, 2006

The limit I have is USD 2,500 after having registered a credit card.

I find Paypal quite reliable and in the few occasions I have had to disclaim a payment and file a dispute, they have been very helpful and remarkably efficient.

There are however some bogus messages I get in my mailbox from time to time claiming to be from Paypal and saying that another email address has been added to my account, that I should update my information, etc. etc. I simply ignore them.


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Lesley Clarke  Identity Verified
Mexico
Local time: 19:08
Spanish to English
Negative experience Jul 14, 2006

Yes, I have. a large payment was made to me by a client and I did not have a credit card so was unable to remove it immediately. The client reneged three weeks later and was able to cancel the payment.

I don't think I have used PayPal since.


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Courtney McConnel  Identity Verified
France
Local time: 02:08
French to English
+ ...
Feedback to thread info Jul 14, 2006

@ Astrid: Thanks so much for the breakdown of the fees versus bank fees. Maybe I won't transfer money with Paypal!

@Leslie: I'm sorry you had that regrettable experience. Now it makes more sense to me why Philippe and the others are saying they withdraw the money immediately. I had never though about the Paypal dispute function working against me!

However, if Paypal has access to our credit card, couldn't they charge the disputed money even if we've already withdrawn it? Or does that mean we always have to keep a low balance in our bank account linked to Paypal? This is really trippy!


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ICL  Identity Verified
Spain
Local time: 02:08
English to Spanish
+ ...
TOPIC STARTER
Thanks Jul 15, 2006

I think I got some very good ideas about the facts to consider regarding payments through PayPal.

Special thanks to Astrid for her detailed analysis (great logic!), and I am sorry to hear about Leslie's experience (though I wonder if you discussed the lack of credit card from your side with the customer before receiving the payment).

I just wanted to add that I have already used this system, twice, and there is a difference regarding whether you are a "business" user or a "personal" user.

I used it both ways and the "business" way requires some fixed fees that you do not have to pay when you use it the "personal" way. Also, when you use credit cards there is an added charge, as compared to using just your bank account.

The only downside to the "personal" way is apparently that, in case of payments between countries with a different currency, whoever makes the payment will have to pay an exchange rate that apparently is higher than the one banks usually charge you (because it is a fixed commission).

But otherwise you do not have to pay any other fees through the personal way if you are the receiver and use the system of bank account. So, as Astrid suggested, in this case it would be a matter of comparing the fees charged by a bank and by PayPal for exchange rate.

Also, when you make the transfers through the bank (and not PayPal) you have to consider the fees on both ends, not only the exchange rate, because sometimes both banks (sender's and receiver's) charge you for the transfer.

Anyways, thanks again for your comments.

Have a good weekend!


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Courtney McConnel  Identity Verified
France
Local time: 02:08
French to English
+ ...
interesting... Jul 15, 2006

Wow, Ivette, you know a lot about it. Thanks for recounting your knowledge of it more. Now that I think about it in terms of Personal vs. Business, it makes sense. I'm gonna play around with it on some small sums & see what the charges look like. I'll contact my bank also. At present, most of my clients wire me their payment, and I only have to pay USD 10 to receive the wire transfer. I used to have a facility where my bank would only charge USD 3 for a foreign check, but they will no longer accept those checks by mail and my mom, my 'accountant', no longer lives in the same state as my branch. So, yes, it pays to shop around for the best deal as there are a lot of variations.

Have a great weekend!


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LinguaLab.net
United Kingdom
Local time: 01:08
English to Norwegian
+ ...
PayPal charges and Bank Transfer Charges in the UK Oct 21, 2006

I recently stopped offering payment via PayPal when I discovered that their conversion charge (from EUR to GBP) is nearly 10% of the total amount. I was receiving payment from a company that I invoice monthly, and ended up paying GBP 44 in fees (approx. USD 83/EUR 65)!

I opted for a personal account to avoid the fees of the business account, but perhaps this was a false economy - it might have been better to pay smaller fees more often, than the occasional massive sum...

Either way, my client is happy to pay me via bank transfer, so I have now removed the PayPal option from my Proz profile and my invoices. My only problem now is that my bank charges me GBP 8 for every payment I receive from abroad. Receiving payment is becoming very expensive these days! I use NatWest, and was wondering if anybody knows of a UK bank with friendlier fees?


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