moniker Moniker Paypal fees

[DomainMillionaire]

anyone knows what type of "Paypal" payment method ( credit card / masspay / cash from bank etc) Moniker uses to send cash to the seller for an escrow domain sale?

 

[DonaldLyons]

Moniker.com* will provide you with a choice of check, bank wire and Pay Pal to receive your funds from a domain sale.

If you have other questions, please let me know.

With best regards,

Don

Don Lyons - Senior Account Executive

[email protected] - http://www.Moniker.com – An ICANN Accredited Domain Registrar

Toll Free: 1-800-688-6311 Ext: 3535
O: 954-861-3535 Direct
F: 954-969-9155

*Moniker is the first and only provider of Domain Asset Management™, a complete set of business services that provide companies a single-point-of-access to help manage and maximize the value of their domains. These services include name creation, registration, acquisition, portfolio management, appraisal and escrow services, monetization and after-market sales – all backed by unsurpassed customer service and security. With more than a decade of experience, Moniker a worldwide top 10 domain registrar, holds the industry’s highest customer retention rate and generates the most secure domain transactions in our industry. Moniker, DomainSponsor and SnapNames are subsidiaries of Oversee.net, an innovative leader in domain management services and online lead generation. Oversee.net offers its domain name customers a true one-stop shop by supporting the entire domain name life cycle, from registration to monetization to aftermarket sales.

 

[Poohnix]

Well, you didn't answer the question. The OP asked what kind of PayPal payment you use, since the fee for the recipient may differ a lot depending on what method is used in PayPal. He didn't ask which other methods there are besides PayPal.
If you use "mass pay" there is never any fee for the recipient. For some other payment types there may be significant fees, amounting to hundreds of dollars if the transaction amount is high. The fee also depends on the type of account the recipient has, but the only payment type that never gives any fee for anybody if the "Mass pay". (Except there is a $1 fee fo you when you send it.)

Sedo, for example, use "Mass pay"; at least I never have any fee deducted when receiving funds from a domain sale from them. But i've never received funds from Moniker to PayPal, so I don't know.

.

 

[BELLC1]

"Thank you for contacting PayPal.

It is against our User Agreement for a seller to charge an additional fee to accept payments from a PayPal buyer. Merchants may not charge a fee to the buyer for accepting credit card payments (often called a "surcharge"). A surcharge should not be imposed or any other fee for accepting PayPal as a payment method. A handling fee may be charged in connection with the sale of goods or services, as long as the handling fee does not operate as a surcharge and is not higher than the handling fee charged for non-PayPal transactions.

For the Terms and Conditions of the User Agreement, click the "Legal Agreement" link at the bottom of any PayPal webpage and click 'User Agreement'."

 

[Theo]

Welcome to reality, eNom charges fees and so does Sedo for all Paypal payments made to them.

 

[David G]

Welcome to reality, eNom charges fees and so does Sedo for all Paypal payments made to them.

Maybe they should all be reported for violating the TOS.

 

[Poohnix]

"Thank you for contacting PayPal.

It is against our User Agreement for a seller to charge an additional fee to accept payments from a PayPal buyer. Merchants may not charge a fee to the buyer for accepting credit card payments (often called a "surcharge"). A surcharge should not be imposed or any other fee for accepting PayPal as a payment method. A handling fee may be charged in connection with the sale of goods or services, as long as the handling fee does not operate as a surcharge and is not higher than the handling fee charged for non-PayPal transactions.

For the Terms and Conditions of the User Agreement, click the "Legal Agreement" link at the bottom of any PayPal webpage and click 'User Agreement'."

That's not exactly what this topic was about - it was about payments from Moniker - but yes, Moniker also charge an extra fee to accept payments for domain registrations via PayPal, which is against PayPal's ToS.
But the OP posted about payments for sold domains made to the seller from Moniker.

.

 

[DomainMillionaire]

yup, please try to keep this on topic. but again, i spoke to Moniker, they pay by masspay so you incur no fees.

/ Close Thread

 

[PRED]

That's not exactly what this topic was about - it was about payments from Moniker - but yes, Moniker also charge an extra fee to accept payments for domain registrations via PayPal, which is against PayPal's ToS.
But the OP posted about payments for sold domains made to the seller from Moniker.

.

yes, a lot of Moniker customers are unhappy about the 4% charge. again against paypal's rules.

will Moniker remove this before they are made to?

 

[Poohnix]

yes, a lot of Moniker customers are unhappy about the 4% charge. again against paypal's rules.

will Moniker remove this before they are made to?

I don't really understand the philosophy behind that fee... I use several different payment options for my commercial services, all having different fees, but don't charge my customers more because they happen to use one of them. I offer the multiple options to cater to as many types of clients as possible, and see it as an expense to gain some more customers from those that prefer a certain kind of payment option.
PayPal isn't 4% more expensive than direct card payment - it's almost the same if you have the best merchant rate, which isn't difficult to reach.
But most options are quite expensive for payments that are no more than a few dollars, as the fixed per-transaction fee is a high percentage. So I can understand why they want us to pre-fund our accounts to get the lowest price on the domains. But I don't understand why they charge a fee for one type of payment, but not others. *All* payment types have fees in one form or another for the recipient - not only PayPal.

.

 

[dvdrip]

I tried explaining mass pay to my moniker account manager but he was not "familiar" with it.
He didn't bother to find out what it is and give my an answer.

 

[dvdrip]

And still no official reply from moniker. Well done...

 

[denny007]

Bit offtopic:
--You can send Masspay to Moniker and they will not deduct fee, I always after paid send them email and they add it to my account within 1-2 working days.

--For low-margin biz you HAVE TO charge fees. Monikers margins are maybe 10% so they would be giving 1/3 of their profits to Paypal, thats bullcrap. This fee motivates people to pay another ways.

 

[DomainMillionaire]

Yup, Moniker pays out by masspay also. Its a good deal.

 

[DNP]

Bit offtopic:
--You can send Masspay to Moniker and they will not deduct fee, I always after paid send them email and they add it to my account within 1-2 working days.

--For low-margin biz you HAVE TO charge fees. Monikers margins are maybe 10% so they would be giving 1/3 of their profits to Paypal, thats bullcrap. This fee motivates people to pay another ways.

Yes, but Godaddy doesn't chage any fees when payment is by paypal.

 

[denny007]

Yes, but Godaddy doesn't chage any fees when payment is by paypal.

Gpdaddy business model is different from Moniker's, they are targeting another customers than Moniker and their margin is for sure higher

 

[dvdrip]

Credit cards have fees also.
Moniker can get a very good deal with paypal that might be at the same level with credit cards or maybe 0.5% higher.

Also adding 4% when in fact they pay less than that is not very professional. And not to mention that that is against paypal rules...

 

[Poohnix]

Also adding 4% when in fact they pay less than that is not very professional. And not to mention that that is against paypal rules...

Well, the PayPal fee is $0.30 per transaction, plus whatever percentage they have

But the $0.30 transaction fee alone is over 4% of a $7.44 .com registration.
On top of that they probably pay 1.9% more, if they sell for as much as $100K per month via PayPal. If it's less, the % is higher.

 

[dvdrip]

That is no excuse.
They can charge a different fee with each transaction.

If I refill $1000 then they will be charged $19. That is probably the same as with credit cards. By putting the 4% fee they just annoy the major customers that is the bulk of moniker's customer base.

 

[Poohnix]

I didn't say it's right, just that your statement wasn't entirely accurate for single domain purchases.
And I fully agree, that fee isn't right, and even if I can understand it, somewhat, for single domain purchases, it doesn't make sense at all for large account funding transactions.