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

[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!