Paypal

[gemfyre]

Okay, I opened a Paypal account to make the sale of all these ponies easier.

I have a basic account.

So, can someone confirm that this is how it works.

1. I give my e-mail to the payer.
2. They pay in their currency (or is it US currency? I'm giving prices in USD just for ease).
3. When I figure the exchange rate suits me, I go to Paypal and convert the foreign currency to Aussie dollars. I couldn't see anything about there being a fee for this, but I want to make sure.
4. If I withdraw less than $150Au they charge me $1. If I wait until all the sales are made and then withdraw it (likely to be a few thousand bucks) then I get charged nothing.

I'm just worried about hidden fees and hitches and things.

Comments

[lotus79.livejournal.com]

I think there is a fee for exchange; they call it a "cross border fee". So best to wait til all the payments are in before you convert to AUD.

I've looked through their site though, and can't find that info. Damn, they make it difficult!

[binkypengi.livejournal.com]

There is now paypal.com.au, so you can charge, accept, etc all in AUD now if you prefer (leaving the exchange fees to the buyer to handle)

[gemfyre.livejournal.com]

I went to .com.au, it seems to just bunt you over to .com when you sign up.

So how would they pay if they were in the US? I got the account specifically to make it easier for buyers.

[moonvoice.livejournal.com]

I've had my Paypal account for some time now for when I sell my shamanic artwork prints. I go to the paypal.com.au site for all my transactions / withdrawals / fundings / account statements. There are no hidden fees that Paypal imposes, BUT your bank can charge you extra on top of the $1.00 fee for withdrawing from a US bank.

The ability to withdraw funds into an Australian bank AND fund FROM an Australian bank are recent. And Paypal have always been exceptionally good with me. Remember to read the fine-print when adding a bank, if YOU get your bank details wrong, your bank WILL charge you around 20.00, and so will Paypal. Never had it happen to me though. AND, remember that you need to quote the amounts they deposit into your bank account back to them (you get to keep the money) to confirm everything.

To give you an idea of the lack of hidden fees, I once left 4.99 in there (US) and it stayed in there for a year without changing. No fees at all.

I do however know of other people (one person) who has had troubles with Paypal. But I'm not sure if that was Paypal itself, or something regarding payment from an Ebay client. All I know is that Paypal was involved.

So your points, 1-4, as far as I can tell - are pretty much spot on.

Anyway, if you have anymore questions you want to direct to someone who does use Paypal / Ebay fairly regularly. Lemme know. :)

[gemfyre.livejournal.com]

I've been giving people prices in USD, but should I actually be asking for it in Aud, and they take care of it at their end?

I don't quite understand the "withdrawing from a US bank" thing, I guess that's when you transfer from Paypal to an Aussie bank account?

And I understand that Paypal's conversion rate may differ from xe.com or something else, but there is no actual fee for the converting itself? (like if I go to my bank with US cash, they slug me $7 to convert it, hence why I have $15 in US cash just sitting around, it's not worth my while to convert).

[moonvoice.livejournal.com]

It depends. On my website, I give prices in both AUD and US, and they're fixed regardless of the exchange rate (unless the exchange rate changes dramatically). On Ebay, I tend to think I'm more likely to sell to Australians, so I give the price in AUD and if Americans do want to purchase - they can - but I give a higher fixed price for postage (that's just me, I prefer fixed postage prices even if there is a variance).

When it comes to withdrawals. I log in, go to 'withdraw funds' and then it gives me a link that says 'withdraw from a bank account' (doesn't specify country). In that, it will let me choose the country (Australia) and then from there I add the bank account and then wait about 4 days to verify.

I'm not sure about conversion. There's a link here to their fees: https://www.paypal.com/au/cgi-bin/webscr?cmd=_display-fees

If you go into your profile, you can change what your default currency is. Paypal will automatically convert any payment into AUD. Alternatively you can use the multiple currencies converter to change any amount into anything else - again, I think the above link clarifies that.

That 15.oo US (or convert to AUD) is good to have sitting around, because it costs to list items on Ebay, so keeping 'spare cash' in Paypal will help you pay for listings there (if that's your intent). I tend to keep a spare 20 US in Paypal at any one time.

[gemfyre.livejournal.com]

I think I have it pretty much sorted now. :)

I pay eBay fees by direct debit straight from my bank account. Easy!

[elvenwine26.livejournal.com]

I was actually popping over to ask you about this. So um..okay whenever you get it done I'm more than ready to pay you. Just lettin' ya know. :)

[gemfyre.livejournal.com]

The Paypal account is up and running.

Have I given you a total or postage?

Send me an e-mail (gemfyre at iinet dot net dot au) with the list of ponies and I'll get a total for you. :)

[elvenwine26.livejournal.com]

Aight so I'm up and ready to purchase the following ponies from you.
Sanddigger
Seaflower
Tassles
flower dream
tootie tails

http://community.livejournal.com/mlpcollectors/62037.html
I believe the agreed prices was 25 for the ponies but postage hadn't been settled.

[gemfyre.livejournal.com]

Hey hey

Postage is $10.42 to the U.S. Making a total of $35.42 for these 5.