PayPal Question

[Star Of The Desert]

Hi guys:

I requested a withdrawal from my DD account and it was processed. PayPal charged me 3% for processing this payment, is this something new as I don't recall ever being charged this fee before which really sucks?



Burky

[Lone Star Stables]

Yes , Every time we take in payments they charge us 3% as well. If you request a cash out with a check there is no fee ,but It takes 3-4 days . We try to get checks out with in 24 hours of request . The 3% paypal charges is their fee.

[Star Of The Desert]

Thanks Lone just hadn't remembered being charges before, not that I have withdrawn very often, lol


Burky

[South Jersey Stables]

Lone when you are issuing money to people for withdraws via PayPal, how are you sending it? If you're selecting sending "money to family and friends" then it should be a 0% fee from PayPal. If you're selecting that "for a product or service" then it will deduct a % which PayPal charges for their buyer protection guarantee. Since you aren't purchasing anything from us then the first option is safe and legally sound to use.

Not sure exactly how your PayPal is set up though but it should be giving you both of those options.

[King G Racing]

Its Only Money Burk.. You Loaded..........lol

[Lone Star Stables]

Yes I send as a cash out option on my side . It charges either way I think . I will check to make sure , I think sending to family member it would charge me the % on top of the cashout . Also for my booking keeping I need to show that I paid out . This year we have had a lot of cash outs which is ok , But I need to make sure I am protected vs the IRS . I don't want to explain to them that Burky is really my long lost uncle . or that some how I am related to G . I will look into it some more, anyway I can save money for either you or me is always a plus .

[King G Racing]

O hell... Hey Uncle Lone could u please Give me 100 creates and say about 1000.00 cash that do me for a few days Uncle lone And Mom said tell you Thank You and see you at family reunion this year... Also make thoses great Tacos You Make.............LMAO

[South Jersey Stables]

Yes I send as a cash out option on my side . It charges either way I think . I will check to make sure , I think sending to family member it would charge me the % on top of the cashout . Also for my booking keeping I need to show that I paid out . This year we have had a lot of cash outs which is ok , But I need to make sure I am protected vs the IRS . I don't want to explain to them that Burky is really my long lost uncle . or that some how I am related to G . I will look into it some more, anyway I can save money for either you or me is always a plus .

No problem, just making sure! They won't charge you for that option on your end, it's a 0% transaction. Legally PayPal discloses those as "payments sent" for your end of year report and doesn't differentiate who or why they were made to people so there's no worries for taxing purposes. You'll want to definitely still itemize and group these payments separately at the end of year though of course for your own reporting and keeping.

They list it as "family and friends" to make sure people don't accidentally pick that option when paying for goods. But that is the option you would use for nearly everything except paying for a service or item you need protection for. The buyer is not charged to choose the "goods and services" but is given PayPals buyer protection when that option is chosen (https://www.paypal.com/webapps/mpp/p...ase-protection). It's considered cost of business for the seller for the ease of PayPal and gives buyers peace of mind at the same time.

You can always just call to make sure that's the right option for you but I'm 99% sure you'll be good to use the other option going forward. PayPal can't double dip in and take a % from someone who's not supplying a good or service. But there's always that 1% chance so do call haha

[Lone Star Stables]

Burky I just did a cashout as Mike suggested - it didn't charge . I will add the fee back to your account . Thanks Mike . I love to save money when possible . There is no way around the 3% I have to pay ,but cashout from this point forward should be with out the 3% that paypal charges . Thanks again

[Star Of The Desert]

Thanks Lone, appreciate it.


Burky

[South Jersey Stables]

Burky I just did a cashout as Mike suggested - it didn't charge . I will add the fee back to your account . Thanks Mike . I love to save money when possible . There is no way around the 3% I have to pay ,but cashout from this point forward should be with out the 3% that paypal charges . Thanks again

No problem, Burky can just cut me 1.5 of that 3% I saved him

[Cold Dog Soup]

Need 10% Cash Out Fee That Goes To The Site. Stick With Me lone I Make U Rich.