Advice On Reducing Paypal Transaction Fee
posted on 06/23/2009
PayPal is considered as the most convenient and easy way for Global money transactions. Though It is instant and secure their transactions fees are very high. But how many of you know about how to reduce the service charges of Paypal? Their service is just excellent, that we all must agree but sometimes the charges go beyond your expectations. It is not only with small transactions but also with transactions like 1000 or more dollars, for this they are charging up to 30-35 dollars.
If you don't know more about their fee just transfer a single dollar to some other paypal account, they will be receiving only 66 or 67 cents. Is this okay with you? Though the amount is very less 33% is quite high, while trying the same with 3 to 5 dollars their will be a reduction up to 1.5 dollars. This is really ridiculous. They charge very high. But there are certain ways to reduce the service charges.
First of all make sure to take a personal account because almost all services to certain extend is free with paypal for personal accounts. The next thing is whenever you are sending or receiving money make it sure that you are sending or receiving money as a Cash Gift. It's great, there is no fee for sending money as a gift. You can select this from the second tab below 'send money'.
The second thing is there is no transaction fee if you are receiving or sending money from paypal balance or your bank account with in paypal to paypal transactions. And if by mistake you are sending money from your credit or debit card to somebody there will be high transaction fees. In such occasions there is another option. Up to sixty days one can refund the amount to the sender back, so that the fee also will be refunded. So you will be receiving full of your money and after that you can send from your paypal balance - There is no charge. Always try to send money above the minimum amount without transaction fee. You can have a detailed view of fee structure there in paypal itself. Refer it and use carefully. So don't waste your pennies just because of the reason 'you don't know !' about it.
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