Paypal...a new way to send money? Free? No way!

treitz3

First off, I did NOT click on to any links off this e-mail I just received. Is this true or just another scam? Here's what the e-mail said.....the quoted is in bold/blue below....

Hello ****** *. *****,

Did you know you can use your PayPal balance or bank account to send money to friends and family within the US for FREE? Seriously, neither you or the recipient will pay any fees.

Check it out

I smell a scam. Thoughts? Insight?

POIDOG

treitz3 wrote: »

I smell a scam. Thoughts? Insight?

It's smells in here :eek:

Conradicles

I use it all the time. All you need is the persons e-mail. I thought there was a small fee to the person receiving the money, but I could be wrong.

treitz3

There is, 3%.

cnh

There is no fee if you're sending money, cash to an account.

cnh

snow

Not sure here but I think if you send an E check there is no fees on the recipients end. I thought also if you didnt have a premiere account then you could accept payments without a fee but they were limited to a $$ amount and a number of withdrawals per month.

I could be wrong on all counts here so dont take my word for it and check PayPals site.



REGARDS SNOW

treitz3

cnh wrote: »

There is no fee if you're sending money, cash to an account.

cnh

Yeah, I got that but the e-mail says that I can send it to friends and family for free. That just doesn't sound right as I always have a 3% PP fee [If I am the receiver of $$$]. I have just forwarded the e-mail to Paypal and I'll see what they have to say about it, if anything.

I just don't believe it and I don't want any forum members to get the same e-mail and give away their information thinking it's legit.

Of course, after reading Snow's post it may have just been a way to "upgrade" my PP account........in which case, it's not free. Oh, I just recalled this one. Isn't the E-check where they hold money for like a half a month or some ****?

Kex

PayPal's fee structure seems to be a secretive maize of yucky ooze. I don't get charged a fee when I think I will, and others that I send payments to do get charged a fee when I think they won't. I don't use the service often enough to figure this out, but when I do, their FAQ or help section (I don't remember which) clearly states that the sender will have the option of deciding who pays the fees, and I have never encountered such an option when sending payments.

It was my impression that accounts that receive less than $500 per month, and do not, therefore, have to upgrade to premier status, could receive payments funded from a PayPal balance or directly from a bank account free of charge. Payments funded by a credit or debit card would automatically incur a fee. This no longer seems to be the case, but who knows for sure?! There does not seem to be any reference to it in the links below, but I know I wasn't dreaming when I first checked on this.

Anyway, the only place on their diabolical website where I can find what seems to be reliable and detailed information is in the "User Agreement", and it does seem to imply that "personal" money transfers may indeed be free. I wouldn't assume it's true, though, since they seem to be the masters of subterfuge and deception. Maybe it makes sense: personal money transfer implies no physical exchange of goods, therefore no possibility of any claims for SNAD etc., which is probably where things get messy for them, since card funded payments are "protected" to some extent by the card issuer, and may lead to a chargeback against PayPal.

https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/UserAgreement/ua/USUA-outside#fees-policy
https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside

Do you want to send me $100 now, and I'll send it back in a week, and we'll see if either of us get charged?!

snow

Kex wrote: »

PayPal's fee structure seems to be a secretive maize of yucky ooze. I don't get charged a fee when I think I will, and others that I send payments to do get charged a fee when I think they won't. I don't use the service often enough to figure this out, but when I do, their FAQ or help section (I don't remember which) clearly states that the sender will have the option of deciding who pays the fees, and I have never encountered such an option when sending payments.

It was my impression that accounts that receive less than $500 per month, and do not, therefore, have to upgrade to premier status, could receive payments funded from a PayPal balance or directly from a bank account free of charge. Payments funded by a credit or debit card would automatically incur a fee. This no longer seems to be the case, but who knows for sure?! There does not seem to be any reference to it in the links below, but I know I wasn't dreaming when I first checked on this.

Anyway, the only place on their diabolical website where I can find what seems to be reliable and detailed information is in the "User Agreement", and it does seem to imply that "personal" money transfers may indeed be free. I wouldn't assume it's true, though, since they seem to be the masters of subterfuge and deception. Maybe it makes sense: personal money transfer implies no physical exchange of goods, therefore no possibility of any claims for SNAD etc., which is probably where things get messy for them, since card funded payments are "protected" to some extent by the card issuer, and may lead to a chargeback against PayPal.

https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/UserAgreement/ua/USUA-outside#fees-policy
https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside

Do you want to send me $100 now, and I'll send it back in a week, and we'll see if either of us get charged?!

Yes please send me a $100.00 for a week



REGARDS SNOW

dragon1952

I sold a CDP recently and the buyer used the "Payment Owed" option. I don't know if he did this on purpose or not, but I did not get dinged the usual 3% fee. I figured I'd try this for something I just bought to save the seller the fees. But evidently, there is no fee only if you pay out of your PayPal balance or directly from your bank account. If you use PayPal credit or a credit card, there is still a fee, but the sender can specify who pays the fee (sender or recipient). I got to thinking though. If you buy something, and try and use this 'Personal Payment' option to skirt the fees, you will obviously not get the buyer/seller protection that sometimes applies to purchases of 'Goods'.

wallstreet

You can also write a check and drop it in the mail. That's almost free. Although with my online banking, I can write a check to anyone and the bank puts a stamp on it for me. That is really free.

mmadden28

If you use a credit card to fund a paypal transaction, of course there will be a fee--who else is going to pay the Credit Card company thier transaction fee? Normally a merchant foots that cost-hence the reason some small retailers (usu restaurants like pizza shops) don't accept CC.

mmadden28

wallstreet wrote: »

You can also write a check and drop it in the mail. That's almost free. Although with my online banking, I can write a check to anyone and the bank puts a stamp on it for me. That is really free.

Except for the recipient, who has to get the check and drive it to thier bank and deposit it. Think about the gas that's used for the mail carrier and the recipient--Definately not green

VR3

When I first joined Paypal - sending money back and forth was free. 100%

Then some jerk paid by Debit Card instead of checking account transfer.

Then you have to become a PREMIER or whatever member to accept this form of payment.

I have never had a free paypal experience since then.

mmadden28

Kex wrote: »

...
It was my impression that accounts that receive less than $500 per month, and do not, therefore, have to upgrade to premier status, could receive payments funded from a PayPal balance or directly from a bank account free of charge. Payments funded by a credit or debit card would automatically incur a fee. This no longer seems to be the case, but who knows for sure?! There does not seem to be any reference to it in the links below, but I know I wasn't dreaming when I first checked on this.

...!

That's the way I remember it.

kawizx9r

+1 Vr3MxStyler2k3
I always used to use this as a quick method of transferring funds from one account to another, all being on the same paypal account when I didn't want to fuss around looking up my routing number/etc and transferring money between 2 different banks. My wife and I still use this and it's free, but we're premier account holders. (Have been using paypal for over 3+years now)

mmadden28

Vr3MxStyler2k3 wrote: »

When I first joined Paypal - sending money back and forth was free. 100%

Then some jerk paid by Debit Card instead of checking account transfer.

Then you have to become a PREMIER or whatever member to accept this form of payment.

I have never had a free paypal experience since then.

You don't have to become a premier member to accept a payment that was sent using the sender's Debit or Checking account, or whatever. You only have to do that if you're accepting over a certain $$ threshold per month of non-personal transactions, which IIRC is $500.

kawizx9r

Oh I know that. I just added that I'm a premier member and wasn't sure if that's why my transferring/sending/recieving of funds is free? I wouldn't be surprised if they starting adding fees for such transactions but I certainly haven't had to pay any that's all

AsSiMiLaTeD

I send my mom a couple hundred bucks a month, and the last couple times I've used the free option and neither of us has been charged.