Paypal Fees

[the_raven_group]

Why do you have to pay a withdrawl fee from paypal if it is below £50s?
This is incredibly annoying, especially if I'm selling on e-bay and need access to the money quickly. Do they have it sitting in a high interst account and need notice to get it out or something!

[liowkc]

Well they have the right to make such rules in the first place and of course the fee is intended to discourage you from withdrawing small amounts.

[hwang]

Well it's much like what a bank changes you for their service. Paypal although is not a bank, they also need to make money from their business. Anyway, their fees are considered reasonable. There are other payment processor that charge even higher and if compare with egold, that is even more substantial dealing with the gold exchangers.

[the_raven_group]

I was going to ask whether there are any alternatives to Paypal? I've heard of a few different sites but none of them seem to have a good reputation. Is this just becuase paypal dominate the market?

[liowkc]

The short answer is no; pay paypal and at least you see your money. I will dump Paypal once something credible and wide acceptance comes along but it may be a long wait.

[the_raven_group]

Well if everyone feels annoyed with paypal why ahve people not tried developing an alternative payment site. It wouold seem a logical and profitable venture to undertake. I would certainly dump paypal at the first opportunity and I'm sure I'm not the only one.

[hwang]

The problem is people have been too dependable and since a lot of people are using it, it might take some time before something new gets going. Google checkout is one option, there is another payment processor similar called paypay, but the question is when everybody is willing to make the change.

It's like...have you seen seller willing to accept paypay or a buyer willing to pay using paypay. Once this gets going, then you will see the wave of change.

In case you are wondering... [Only registered and activated users can see links. ]

[liowkc]

Hwang's well reasoned response can be summed in one famous Briton's words:

Newton's first law of motion: law of INERTIA

[the_raven_group]

Well perhaps a potential competitor could offer some added bonus to attract new membership. May a financial reward (albeit a very small one) could be offered for signing friends up. Maybe you guys have a few suggestions?

[hwang]

I'm still waiting for Google Checkout to go global. I think this is the most viable option that could one day take on paypal especially if they decided to start paying adsense members with Google Checkout.

[life31]

Yes that can always come true. But surprising that adsense still does not pay via their own payment processor!!

Do they pay through checkout ???

But anyways it should go global. We will have another good effecient payprocessor.

[hwang]

Yeah, if they do that, then you might really have people asking "how much do you have in Google Checkout". And then everybody starts using and the cash incurred in the processor will build up. And yeah why don't Google consider paying using their own payment processor???

[Antster]

Google Checkout looks pretty good from what I can hear.
Maybe when it goes global, I'll try it, but for now, I'll have to stick with Paypal.