Just had this in my email this morning, it is not a spoof or phishing email, the real deal, so paypal are actually scrapping fees for personal payments? which is pretty good news, they are also giving the sender the option of paying the extra fees if they pay by bankfunding So whats the catch? well for a start, its doent apply to ebay items, nor purchases for goods. so whilst its not a huge difference to a ebay seller, it at least is a step in the right direction We would like to let you know of an important announcement affecting all PayPal account holders in the UK. Effective from 9 July 2008, PayPal will change its fee structure to make it more attractive for our UK customers to send personal payments. We are pleased to announce that: PayPal will not charge a recipient (regardless of their account type) of a PayPal payment if that payment was funded by the sender's bank account or PayPal balance and it is designated a Personal Payment PayPal will apply a fee for payments received for Personal Payments or Commercial Payments if such a payment is funded by a credit or debit card, however for Personal Payments funded by a card, the sender will have the option of paying the fees for that payment Also, PayPal will no longer require its customers to upgrade from a Personal Account to a Premier or Business Account once it has received a total of £250 Consequently the following amendments to the PayPal User Agreement will be applicable for UK customers: Clause 8 will be amended (where relevant) to provide that: Receiving Personal Payments which are also Balance/Bank Funded Payments will be free Receiving Personal Payments and/or Commercial Payments which are also Card Funded Payments will be charged at these standard rates: 3.4% + Fixed Fee For each domestic payment transaction. 3.9% + Fixed Fee For each cross border payment transaction Merchant Rates (based on monthly transaction volume & one-off application) 1.4% - 2.9% + Fixed Fee For each domestic payment transaction 1.9% - 3.9% + Fixed Fee For each cross border payment transaction The monthly volume tiers applicable to these Merchant rates are further described in the Fees section accessible from every page of the PayPal Website. The Fixed Fee will be (depending on the payment currency): £0.20 GBP ¥40.0 JPY 1.35 PLN €0.35 EUR $0.40 AUD 90.0 HUF $0.30 USD 0.55 CHF 10.00 CZK $0.30 CAD 2.80 NOK $0.50 SGD $4.00 MXN 3.25 SEK $2.35 HKD 1.20 ILS 2.60 DKK $0.45 NZD UK registered Users who receive payments in Euros from other European User countries will receive a 0.5% reduction in the variable amount of the applicable cross border fee. The sender of a Personal Payment which is also a Card Funded Payment may choose to pay the Fee applicable to that payment. Clause 15 will include the following new definitions: "Commercial Payment" means a payment which is not a Personal Payment (including, without limitation a payment associated with an eBay item and/or other goods or services). "Personal Payment" means a payment made for the purpose of either your personal, family and/or household affairs. Clauses 4.1, 4.2, 4.4(c), 4.9 will no longer apply to UK customers. No action is required on your part and you will be able to continue using PayPal with no changes. Yours sincerely, PayPal
Very good news indeed. Let's hope it's world wide. However how about their charge for sending cash to your bank? Is that the same? Not that long ago Paypal actually reduced the charge for sending cash to a Japanese bank from 500 yen to 250 yen but they also put up the min' value of 40'000 yen for free transfers. It used to be 25'000 yen from what I remember. yakumo
Good news, but clearly a reaction to the news Sequential Blender posted. El eBay Panico! Have a good holiday mate!
Yakumo: It's now 50,000 yen. Dollars is free (but you have to withdraw in a dollar-using country). I generally don't do withdrawals under 100,000 yen, so no big deal for me. I would rather they not rake me over the coals when I convert currency. That's the biggest fuck you they have.
