PayPal - new selling fees from 5 April 2018

[bubblegh]

Did anyone get that email from PayPal yesterday about their new rates changes from 5 April 2018?

Eg. merchant volume discounts being discontinued, all rates for sales to fellow Aussie customers to be fixed at 2.6% + 30c unless using Website Payment Pro ($25 monthly fee) which provides 1.75% + 30c rate.

Selling to customers outside of the US will be 3.6% + 30c.

[enigmabear]

Have'nt had anything from them here

[digital*ghost]

I got the email as well. It's disappointing but was pretty much inevitable as they discontinued it in other countries over the last couple of years.

They're also going to allow people to add surcharges for using PayPal.

[kopenhagen5]

Received this today - 

From 5 April 2018, we’ll be making changes to our User Agreement, Recurring Payments and Billing Agreement, Commercial Entity Agreement and Combined Financial Services Guide and Product Disclosure Statement. Also, we’ll be updating our Privacy Policy to help you better understand how we handle your personal information.

Below is an overview of the main changes.

Pre-Trip Cancellation Cover

• Now when you pay for your trip with PayPal and have activated Pre-Trip Cancellation Cover, you may be able to claim up to $500 on pre-paid non-refundable transport and accommodation costs if you unexpectedly need to cancel your trip. Terms and conditions apply*. Activate cover now.

Refunded Returns Service

• We’re simplifying how you can get a refund for your return shipping costs. Now, you’ll be able to submit a tracking number as proof that you returned your item to the seller. Activate the service now^

Fee for sending money to a friend or family member

• We’ve simplified the fee we charge when sending money internationally. Now, PayPal balance and bank account payments will incur a fixed fee of $5.99 AUD, instead of a percentage of the amount you are sending.

If you’d like more detail about the upcoming changes, we encourage you to visit our Policy Updates page.

At PayPal, we’re committed to helping you move and manage your money with confidence. If you have questions about any of these changes, or about your account, please do not hesitate to get in touch.

[starwood2111]

Didn't know about this ! But I notice the increase with payments since yesterday. It seems like a steep increase. What was the old rate ?

[starwood2111]

I see we have lost our tier that gave us 1.5% so its a big jump for us to 2.6%. The only tier left is 500k per year which is out of reach... I assume there is no alternative so will have to raise our prices sadly.

[vproshop]

Yes, I just noticed this.

Does anyone have a link to the tier discount structure?

What is the minimum transations amount per month in order to get to the higher discount rate?

currently, its 2.6%, used to be 1.5%,

for sellers more than$15k per month.

[davewil1964]

According to the person you asked the question of - 500k pa.

[davewil1964]

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@starwood2111wrote:

I see we have lost our tier that gave us 1.5% so its a big jump for us to 2.6%. The only tier left is 500k per year which is out of reach... I assume there is no alternative so will have to raise our prices sadly.

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That would depend on whether your business can absorb a 1% increase in costs. If not, it would indicate wafer-thin margins. Not necessarily a good or sustainable business model.

[tacklefactory]

I have had so many problems with this. We were also on 1.5%. They said to go from 2.6% to 1.75% we had to change to a business account. After 4 years of having an account we them, I have had to provide 3 forms of ID and a copy of the trust deed. Compliance are now hoding our funds until I provide this ie I can't get access to our own money!! Beyond frustrated. Is anyone else having these problems?