PayPal Funds Transfer Rort

[dazzledayz]

I notice that PayPal is now offering a "speedy" funds transfer at a meer 1% of the total amount.

Has anyone established wether or not this has lengthened the standard (no-fee) transfer time for established sellers?

I've just put a transfer through this morning and it would usually be in my account after 6pm tonight.

If it isn't there I'll be not a little bit miffed.

So far I've played ball with PayPal and always left my eBay invoice balance riding on their books so they can earn a bit of short term money market profit for their trouble.

That will come to a screeching halt if they now want to charge me a tax to access my own funds.

I'll be leaving a $0 daily balance for PayPal to play with; I'm pretty sure they would have been earning much better than that under the old system.

For goodness sake, I know the global economy is in a bit of a rut but are greedy little grabs like this the way out?

[the_alchemist_australia]

Yes PayPal has definitely gone back to the 2 to 3 days to clear funds.

Mine used to be same day and now back to two days.

The instant option isn't available for me as St George Bank apparently doesn't support it.

So back to the days of old where now it takes three days for funds to clear to the bank... have lived with it before and will again now I guess.

[eol-products]

Yesterdays cleared today. I done 2 this afternoon so will see how they go.

[the_alchemist_australia]

Yes please do let me know and also what bank you use.

I was with ANZ but only recently switched to St George and having a lot of problems with them.

Their mobile app is awesome but everything else has been causing me huge headaches.

[eol-products]

Stgeorge and over the years there has been the occasional time when it took an extra day.

If you do a paypal refund does paypal keep all the fees or just the 30 cents.

[the_alchemist_australia]

All the fees now. It's a relatively new thing.

With 55% of my sales being international and a buyer does a remorse return I still have to refund the full amount including the inital postage charge and now out of the PayPal fee as well.

That adds up to a good $45 I am out of pocket for a remorse return even though the buyer pays return shipping.

But eBay says it is what I have to do "to make the buyers happy and want to stay with eBay".

They even told me that in a message where clearly the "item not as described" case was wrong but eBay still asked me nicely to suck it up.

If I had a retail outlet there would be wear and tear, shoplifting etc.. etc.. so I just factor it all in.

Thinking of putting everything up a few $$$ next year to start "factoring in" more little hiccups.. lol

[eol-products]

I wonder if all paypal accounts get hit with the new fee.

[davewil1964]

You don't have to offer change of mind returns. That is a business decision of yours.

[davewil1964]

Mine has.

[the_alchemist_australia]

I have a business account both with PayPal and St George.

But the PayPal refund fee is across the board for everyone.

[eol-products]

So I wonder why some accounts get the fee returned.