Using Paypal

[Pamphonica]

Just as an aside, money can be sent via Paypal at zero cost to either party as long as the transfer is made using the "send to friends/family" option. I use this all the time.

[Craig Sawyers]

Someone always pays, Jeremy. If you send to friends/family the sender pays. If you send for products/services the receiver pays.

Craig

[60 oldjohn]

Originally Posted by Craig Sawyers

Someone always pays, Jeremy.

If I send £2 then the full £2 is received by the other person, used to be "Gift" but now "Friends and Family" If you send money without using this option then the recipient will lose 10% or is it 15%

John.

[Herald1360]

It's a bit convoluted but it is possible to send for free at both ends by Paypal. Not for all types of money source, though......

https://www.paypal.com/uk/webapps/mpp/paypal-fees

[Craig Sawyers]

Originally Posted by 60 oldjohn

If I send £2 then the full £2 is received by the other person, used to be "Gift" but now "Friends and Family" If you send money without using this option then the recipient will loose 10% or is it 15%

If you send it to Friends and Family, the recipient pays nothing extra - and in your example receives £2. But you, as the sender, gets to pay the percentage. So you pay not £2, but £2 + the percentage (10%, 15% - whatever it currently is).

Craig

[MrBungle]

I don't know why anyone uses paypal for one to one transactions. Simple online banking or telephone banking transaction is instant, fee free and secure.

[Pamphonica]

...because Paypal payments to "family/friends" are instant, fee-free and secure?

[MrBungle]

(until you have a dispute to resolve or they hold your transaction or it disappears into a void when withdrawing it from paypal to your bank for three weeks, all of which have happened to me on numerous occasions)

[Diabolical Artificer]

"I don't know why anyone uses paypal for one to one transactions. Simple online banking or telephone banking transaction is instant, fee free and secure." A lot of folk either don't have online banking, or don't trust giving out bank detail's to (relative) stranger's. I don't mind giving out my detail's, but I only have minus £200 in my account, I'd be less sanguine if I had a few grand or my life saving's. Out of hundred's of forum related transaction's I've used it about 5 times.

Whilst interesting we're well off topic and have hijacked the OP's thread. Think I can hear the revving of scooter's and the donning of sharp thread's.

Andy.

[MrBungle]

Mods have made good as always (thank you mods)

Your bank account sort and account number are an address like your postal one. You can only send money to it.

[paulsherwin]

There are no Paypal charges for gifts if the payment comes from your Paypal balance. If your Paypal balance is too low and payment comes from a debit card or bank account, you will pay Paypal charges (though there are no charges for the recipient).

I also use direct bank transfers where possible, but some people are reluctant to hand out their bank account details to strangers, even though there is no risk involved.

[dseymo1]

Bear in mind that whenever you give someone a cheque, you are also handing them your bank details.
Paypal certainly has some risks, but risk-free financial transactions usually cost money!
You (potentially) pays your money and takes your choice!

but some people are reluctant to hand out their bank account details to strangers

I minimise my handing out of any information, even 'phone numbers requested by online websites. The less there is out there, the less that can be harvested, I don't use any social media stuff (unless this forum counts) people that do reveal an awful lot of stuff.

I use PayPal via a credit card, worst case my email address is known and I will refuse to pay the card off for any fraudulent amount. it hasn't happened yet... There is a balance twixt convenience and likelyhood of fraud, I am sticking to slightly less convenient.

[MrBungle]

Originally Posted by merlinmaxwell

I use PayPal via a credit card, worst case my email address is known and I will refuse to pay the card off for any fraudulent amount. it hasn't happened yet... There is a balance twixt convenience and likelyhood of fraud, I am sticking to slightly less convenient.

Good advice.

[David G4EBT]

I've never used online banking, but I've used paypal a lot to send money to 'friends and family' including to forum members, and neither I nor the recipient has incurred any fees. Paypal is linked to my debit card/bank account if I don't have a paypal balance. I'm surprised that people are confused about this - it's precisely as Jeremy said at the outset. You only incur a charge if you use a credit card (as you do with many service providers), or if a currency conversion is involved. To quote paypal:

"It is free to use PayPal to send or receive money between friends and family in the UK, as long as the payment is funded by a bank account, debit card or PayPal balance, and no currency conversion is involved".

That's unambiguous. All you need to do is to send the money to the recipient's e-mail (assuming they have a paypal account) and its there virtually instantaneously, leastways, that's my experience. If you fund it via a credit card, the fee is 3.4% + 35p and the same applies if currency conversion is involved, so if say you sent £10.00 using a credit card via papal, that would incur a cost to the sender of 34p + 35p = 69p.

When you pay, the recipient gets an e-mail alert from paypal to say that (name) has sent you '£X'. As a sender, you can add a note if you wish - 'here's the money for the valve John - many thanks' or whatever.

To my mind, it's a real boon - not so long back we'd be faffing about with cheques and postal orders, sending letters and what not.

[David G4EBT]

Originally Posted by dseymo1

Bear in mind that whenever you give someone a cheque, you are also handing them your bank details.

Worse still with 'over the phone' transactions. You give them all your personal details - name & address, card number, and the 3 digit security code on the back of the card.

That's all a dishonest employee needs - a pin number is only required when the buyer is present and a card machine is used, such as at restaurants, shops etc.

Worse still with 'over the phone' transactions. You give them all your personal details

At least you know who you gave it to, should lead to an easy trace of what went wrong.

[Cobaltblue]

I use PP all the time, its very convenient for me and separate from my normal banking.

Indeed when people send cheques to pay for postage etc its a real pain since I use PP to pay postage.

If I didn't post an item until I got into town and the cheque cleared it would add at least a couple of weeks.

Most of the delays are caused by such things as not having a PP balance and using a debit card instead of a credit card.

I do use bank transfers but it then means moving money around which is a pain.

So I'm with Pamphonica PP does definitely have its uses.


Cheers

Mike T

[Radio_Dave]

Friends and family is supposed to be used for sending money to people you know, not to buy or sell things. It has no buyer or seller protection.

David

[Paul Stenning]

I have used PayPal on my service data website for many years (I also now offer card payments via Stripe but the majority of customers still use PayPal).

I have had very few problems, maybe 2 or 3 disputed transactions a year, and I always respond to them promptly. I have never had any restrictions placed on my PayPal account or had any problems withdrawing money from it. I normally keep a few tens of pounds in the account.

This of course is business purchases so it costs me the 3.4% plus 20p per transaction, which means for each £1.99 individual service data order I get £1.72.

I have used the friends and family facility a few times, both paying and receiving, and haven't been charged any fees either way. As others have said, it offers no buyer protection because it isn't intended for business transactions.