paypal Mass Pay policy changed!!!!

[sweetboa]

read here:

https://cms.paypal.com/c2/cgi-bin/m...t_ID=ua/upcoming_policies_full&locale.x=en_US


The fees for sending payments through Mass Payments for registered Users in countries other than China and Hong Kong have been clarified to 2% of each payment amount (a maximum fee cap per payment applies, based on payment currency).

The fees for sending payments through Mass Payments for registered Users in China and Hong Kong have been revised as follows:

For Domestic Mass Payments, the fee is 2% of each payment amount (a maximum fee cap per payment applies as follows, based on payment currency):
<table class="basic_table" summary="Fees for Personal Payments" width="100%"> <tbody> <tr> <td>Australian Dollar:</td> <td>$1.25 AUD</td></tr> <tr> <td>Brazilian Real:</td> <td>R$2.00 BRL</td></tr> <tr> <td>Canadian Dollar:</td> <td>$1.25 CAD </td></tr> <tr> <td>Czech Koruna:</td> <td>24.00 CZK</td></tr> <tr> <td>Danish Kroner:</td> <td>6.00 DKK</td></tr> <tr> <td>Euro:</td> <td>€0.85 EUR </td></tr> <tr> <td>Hong Kong Dollar:</td> <td>$7.00 HKD</td></tr> <tr> <td>Hungarian Forint:</td> <td>210 HUF</td></tr> <tr> <td>Israeli Shekel:</td> <td>4.00 ILS </td></tr> <tr> <td>Japanese Yen:</td> <td>¥120 JPY</td></tr> <tr> <td>Malaysian Ringgit:</td> <td>4.00 MYR </td></tr> <tr> <td>Mexican Peso:</td> <td>11.00 MXN</td></tr> <tr> <td>New Zealand Dollar:</td> <td>$1.50 NZD </td></tr> <tr> <td>Norwegian Krone:</td> <td>6.75 NOK</td></tr> <tr> <td>Philippine Peso:</td> <td>50.00 PHP</td></tr> <tr> <td>Polish Zlotych:</td> <td>3.00 PLN </td></tr> <tr> <td>Singapore Dollar:</td> <td>$1.60 SGD</td></tr> <tr> <td>Swedish Krona:</td> <td>9.00 SEK </td></tr> <tr> <td>Swiss Franc:</td> <td>1.30 CHF </td></tr> <tr> <td>New Taiwan Dollar:</td> <td>$33.00 TWD </td></tr> <tr> <td>Thai Baht:</td> <td>36.00 THB</td></tr> <tr> <td>U.K. Pounds Sterling:</td> <td>£0.65 GBP</td></tr> <tr> <td>U.S. Dollar:</td> <td>$1.00 USD </td></tr></tbody></table>
For Cross Border Mass Payments, the fee is 2% of each payment amount (a maximum fee cap per payment applies as follows, based on payment currency):
<table class="basic_table" summary="Fees for Personal Payments" width="100%"> <tbody> <tr> <td>Australian Dollar:</td> <td>$60.00 AUD </td></tr> <tr> <td>Brazilian Real:</td> <td>R$100.00 BRL</td></tr> <tr> <td>Canadian Dollar:</td> <td>$60.00 CAD</td></tr> <tr> <td>Czech Koruna:</td> <td>1000.00 CZK</td></tr> <tr> <td>Danish Kroner:</td> <td>300.00 DKK</td></tr> <tr> <td>Euro:</td> <td>€40.00 EUR</td></tr> <tr> <td>Hong Kong Dollar:</td> <td>$400.00 HKD</td></tr> <tr> <td>Hungarian Forint:</td> <td>15,000 HUF</td></tr> <tr> <td>Israeli Shekel:</td> <td>200.00 ILS</td></tr> <tr> <td>Japanese Yen:</td> <td>¥5000 JPY</td></tr> <tr> <td>Malaysian Ringgit:</td> <td>200.00 MYR</td></tr> <tr> <td>Mexican Peso:</td> <td>750.00 MXN</td></tr> <tr> <td>New Zealand Dollar:</td> <td>$75.00 NZD</td></tr> <tr> <td>Norwegian Krone:</td> <td>300.00 NOK</td></tr> <tr> <td>Philippine Peso:</td> <td>2,500.00 PHP</td></tr> <tr> <td>Polish Zlotych:</td> <td>150.00 PLN</td></tr> <tr> <td>Singapore Dollar:</td> <td>$80.00 SGD</td></tr> <tr> <td>Swedish Krona:</td> <td>400.00 SEK</td></tr> <tr> <td>Swiss Franc:</td> <td>50.00 CHF</td></tr> <tr> <td>New Taiwan Dollar:</td> <td>$2,000.00 TWD</td></tr> <tr> <td>Thai Baht:</td> <td>2,000.00 THB</td></tr> <tr> <td>U.K. Pounds Sterling:</td> <td>£35.00 GBP</td></tr> <tr> <td>U.S. Dollar:</td> <td>$50.00 USD</td></tr></tbody></table>

 

[Makis77]

brilliant

 

[Gerry]

You need an accounting degree, law degree, economics degree, mathematics degree, and astronomy degree to understand PayPal's ever changing TOS.

The Astronomy degree is to determine the alignment of the planets and their effect on changes to TOS.

 

[EM @MAJ.com]

I know this will come. Paypal would like to get all percentage fee whenever possible. Still not bad for $1 in the US compare to 3.5% of total amount.

 

[Poohnix]

Still a hell of a difference paying $50 instead of $1 for cross-border payments... I'll lose a lot from this.
I noticed something was strange when the system suddenly took a fee for *each* payment in a mass pay a few days ago. Damn.

 

[HomerJ]

(a maximum fee cap per payment applies, based on payment currency).

seems that is the only important question. previously the max cap was a buck. did it go up?

 

[Poohnix]

seems that is the only important question. previously the max cap was a buck. did it go up?

Previously it was $1 even for cross-border. Now it's $50. An increase of 5000%

 

[HomerJ]

Previously it was $1 even for cross-border. Now it's $50. An increase of 5000%

ouch

 

[Makis77]

Can anyone explain cross-border payments?

 

[draggar]

Previously it was $1 even for cross-border. Now it's $50. An increase of 5000%

Actually, it's an increase of 4900%.

Can anyone explain cross-border payments?

A payment that goes from one country to another.

I think this will hurt a lot of international businesses.

 

[DomainsInc]

i don't get it..why would it matter what country people are in? so i am in canada and send masspay to US, it costs 50 bucks...wha?

 

[Gerry]

i don't get it..why would it matter what country people are in? so i am in canada and send masspay to US, it costs 50 bucks...wha?

For Cross Border Mass Payments, the fee is 2% of each payment amount (a maximum fee cap per payment applies as follows, based on payment currency):

If it is costing you the max $50 cap to make a cross border mass pay, you just bought something for $100,000.00+

---------- Post added at 04:31 PM ---------- Previous post was at 04:20 PM ----------

Sellers are going to have to stop charging paypal fees passed onto the buyer (which, in reality, is illegal in many states - especially in California).

This is a real kick in the balls for people who do the bulk of their business online.

Keep in mind, even with all these changes, domains are still considered non-tangible items and PayPal will not investigate nor refund any money if you are ripped off.

And for those of you that think you have the advantage paying with a credit card, think again. Each credit card issuer is required to abide by PayPal's terms as well. So if you do receive a refund from the CC issuer only to find at a later date that the amount has again been charged to you - guess what, PayPal has rebilled for the amount debited and reminded the CC issuer of PayPal's terms...non-tangible items (ie, downloadable games, software, and domains - any thing electronically transferred) are non-refundable and non-investigational PER PAYPAL's Terms.

So don't think you are protected using a CC. I personally know someone who had this happen to him. Even with all the *****ing and fussing and cussing going on, his credit card company related to him that they had no choice but to re-bill for the merchandise (domain) per PayPal's terms even though he never received it. And this was no smalltime cc company - this was Chase.

When you file a claim with your CC you may initially win. But when PayPal gets notification of debit to them, they simply refile with your CC company.

 

[sweetboa]

paypal suck!

can anyone here build a payment system,i will invest in

 

[pkguy]

What bad news. Now even masspay is expensive.

 

[Deleted member 111831]

The fee is only $50 if you are sending $2,500+. If you are sending less the fee will be less.

 

[Poohnix]

The fee is only $50 if you are sending $2,500+. If you are sending less the fee will be less.

Yes, but I regularly sent payments at the max allowed for a single mass payment batch, which is $10K.
Now it will be cheaper for me using other methods than PayPal, in many cases. (Depending on the number of payments in each "mass pay" batch. If only one or two, which often is the case for me, it will be cheaper to just wire the money.)

---------- Post added at 09:07 AM ---------- Previous post was at 09:02 AM ----------

Actually, it's an increase of 4900%.

Ok, let me rephrase that.... It's 5000% of what the fee was was before.

 

[DomainMagnate]

that's bad mews! $50 fee basically makes masspay useless now.

 

[waynerwayner]

Either I have miss read it, or all of you have

In these terms: https://cms.paypal.com/c2/cgi-bin/m...t_ID=ua/upcoming_policies_full&locale.x=en_US

It states:

"The fees for sending payments through Mass Payments for registered Users in China and Hong Kong have been revised as follows: "

So, these revised fees, and the caps such as $50 for cross border payments, refer to paypal users ONLY in China and Hong Kong that send masspay payments, I assume most of you are not in China or Hong Kong, therefore your $1 fee masspay payments continue as before.

 

[glaxxon]

Either I have miss read it, or all of you have

In these terms: https://cms.paypal.com/c2/cgi-bin/m...t_ID=ua/upcoming_policies_full&locale.x=en_US

It states:

"The fees for sending payments through Mass Payments for registered Users in China and Hong Kong have been revised as follows: "

So, these revised fees, and the caps such as $50 for cross border payments, refer to paypal users ONLY in China and Hong Kong that send masspay payments, I assume most of you are not in China or Hong Kong, therefore your $1 fee masspay payments continue as before.

You've read it wrong:
"The fees for sending payments through Mass Payments for registered Users in countries other than China and Hong Kong have been clarified to 2% of each payment amount (a maximum fee cap per payment applies, based on payment currency). "