Marc Stock

Paypal Here fees update
« on: April 29, 2017, 11:09:22 am »
Ok chaps.

Thought I'd share with you how much in fees PayPal here has cost me to collect debit/credit card payments.

Please note that these are customers who would normally pay cash/cheque in person. The majority of my customers pay online by BACS transfer.

I have to say, it's been great not having to go into the bank every week the amount of time i have saved has been well worth it just in productivity alone.

Only had to pay in a bit of cash yesterday about £400 which i am now only doing at the end of the month for those customers who insist on paying cash.



jo5hm4n

  • Posts: 943
Re: Paypal Here fees update
« Reply #1 on: April 29, 2017, 11:22:27 am »
Marc,

Interesting post.  How long does it take you to take a card payment off the customer?  Can you use contactless?  Can't help but think this would be a great idea on customers who forget to get cash out or just bad payers in general as forces them to pay there and then if they have the funds.

Marc Stock

Re: Paypal Here fees update
« Reply #2 on: April 29, 2017, 11:35:13 am »
It takes a few seconds for contactless payments. They simply touch their card to the PayPal reader as long as it's under £30.

For payments over £30 you need chip and pin and they simply put thier card into the chip and pin reader like a standard pos machine.

To start with the funds take 72 hours to appear in your bank account from the moment you withdraw from the PayPal account. But that is 72 hours 365 days a year so it doesn't matter if there is a bank holiday or weekend the money arrives on the dot.

After you have withdrawn funds from your PayPal account 10 or so times that time reduces to 24 hours.

Eventually it will go down to 2 hours.


tlwcs

  • Posts: 2062
Re: Paypal Here fees update
« Reply #3 on: April 29, 2017, 02:54:17 pm »
F00king PayPal, faceless idiots.
On £30 I pay 1.22 I noticed you pay a lot less, is this something you negotiated with them?
Tony

Marc Stock

Re: Paypal Here fees update
« Reply #4 on: April 29, 2017, 05:45:28 pm »
F00king PayPal, faceless idiots.
On £30 I pay 1.22 I noticed you pay a lot less, is this something you negotiated with them?
Tony

PayPal Here is more like a merchant account. To qualify for PayPal here you need to apply for business use and supply some extra information for money laundering rules.

You pay for the reader £45 and it takes about 2 weeks to be fully vetted. But once you are your fees are much less than standard PayPal.

Clever Forum Name

  • Posts: 5942
Re: Paypal Here fees update
« Reply #5 on: April 29, 2017, 09:26:53 pm »
Been using the reader since the day of realease. It's a good back up tool but remember you're using PayPal to make these payments. Chargebacks are still bloody possible  >:( >:(

Marc Stock

Re: Paypal Here fees update
« Reply #6 on: April 30, 2017, 08:31:52 am »
Been using the reader since the day of realease. It's a good back up tool but remember you're using PayPal to make these payments. Chargebacks are still bloody possible  >:( >:(
chargebacks are always a risk with debit/credit cards

8weekly

Re: Paypal Here fees update
« Reply #7 on: April 30, 2017, 08:38:04 am »
Paypal is outrageously expensive.

Marc Stock

Re: Paypal Here fees update
« Reply #8 on: April 30, 2017, 09:06:39 am »
Paypal is outrageously expensive.

do you use credit card machines ?

8weekly

Re: Paypal Here fees update
« Reply #9 on: April 30, 2017, 09:17:02 am »
Paypal is outrageously expensive.

do you use credit card machines ?
No. I honestly don't see the need. I'd consider something like Gocardless, but Paypal is very expensive.

Marc Stock

Re: Paypal Here fees update
« Reply #10 on: April 30, 2017, 09:33:29 am »
Paypal is outrageously expensive.

do you use credit card machines ?
No. I honestly don't see the need. I'd consider something like Gocardless, but Paypal is very expensive.

Yes i agree it is a bit more expensive, paypal here is quite good in comparison to normal paypal. I wouldnt even consider normal paypal as yes, its a rip off.

but paypal here is very competitive in comparsion to normal paypal, you can see from the fees i am paying that they are considerably less than the standard paypal fees, and the advantage with paypal is you dont have to go through a traditional merchant account which are subject to banking restrictions. So for a merchant account like worldpay etc you wont get your funds until 4 working days not including weekends and bank holidays, with paypal here i get my funds within 24 hours no matter when or what the funds were charged, and that will eventually go down to 2 hours once i have used it enough.

I also agree that BACS and Go Cardless are cheaper, and the majority of my payments are preferred through these. Im just happy that i dont have to deal with so much cash, and the ones that insist on paying you there and then are now not inconvenient


jo5hm4n

  • Posts: 943
Re: Paypal Here fees update
« Reply #11 on: May 03, 2017, 06:29:18 pm »
Marc,  I am thinking about slowly doing the same thing and getting all my cash paying customers over to "paypal here" funnily they emailed me only yesterday about the £45 offer they have on for the reader.  One thing i am wondering though is, how have you got on with your elderly customers the ones who typically always pay cash on the day usually.  I have a good amount of these who cant use the internet, so have no other way of paying except by cash.  I'm hoping this paypal reader thing will be a better alternative.

The main reason i am considering moving over to this method is because in the next few months i am hoping to employ and eventually send out an employee by himself.  Using this method would mean, the employee deals with virtually no cash at all, meaning it's much harder for any worker i have to "do" me over and steal from me, and also i would imagine puts them off from the idea of starting up and stealing your customers.  If your customers pay online/by card, i would say they are less likely to change to another window cleaner if they are happy with the way things are.  What do you think?

Marc Stock

Re: Paypal Here fees update
« Reply #12 on: May 04, 2017, 09:29:32 am »
It's been very good. I have a few older customers on the round that don't do internet banking and even using cash is becoming inconvenient for them as they have to dig about for change.

When i started refusing cheques a few years back i actually lost a couple of customers because they didn't have cash in the house and they​ didn't do internet banking.

Changing to debit and credit cards would have definitely saved those customers and in fact i might now go back to them to see if they want to resume the service with me on debit and credit card.

Marc Stock

Re: Paypal Here fees update
« Reply #13 on: May 08, 2017, 05:27:17 pm »
Ok it looks like my PayPal account has gone fully certified.

Now when I withdraw the funds from PayPal it's in my business account immediately.

Fantastic.

jo5hm4n

  • Posts: 943
Re: Paypal Here fees update
« Reply #14 on: May 08, 2017, 08:54:07 pm »
That didn't take too long for you did it, sounds good.

I spoke to a customer today who is 85 years old and pays cash.  I told him im thinking about changing from cash to taking card payments contactlessly.  I was suprised but he said that would suit him better, because then he never has to worry about having cash around to pay the window cleaner, just makes life easier.  Him saying that made me realise, alot of my customers may benefit from this.  I'm going to order the paypal terminal and give it a go!

Marc Stock

Re: Paypal Here fees update
« Reply #15 on: May 09, 2017, 07:44:18 am »
Just last night I had to visit some payment stragglers. Both new customers. Checked they were happy with the service 1st though.

Went to collect the payment and explained that I must get the payment promptly in future.

Both said sorry I don't have any cash on me at the moment can you come back.

No need I said I can take your payment by credit/debit card.  And they both were very happy about that, I also sent them a email receipt via the app and said that they need to set up a direct debit via go Cardless which has also been sent via the email address that was given.

The overall impression was very positive and professional. In fact when I handed the payment terminal to one of the customers the teenage daughter behind her was like wow mum look at that it's so cool.

It was 8pm I collected the money via card and withdrew the funds to my business account 10mins after and it was there immediately in my business account.
 8)

8weekly

Re: Paypal Here fees update
« Reply #16 on: May 09, 2017, 07:47:27 am »
Just last night I had to visit some payment stragglers. Both new customers. Checked they were happy with the service 1st though.

Went to collect the payment and explained that I must get the payment promptly in future.

Both said sorry I don't have any cash on me at the moment can you come back.

No need I said I can take your payment by credit/debit card.  And they both were very happy about that, I also sent them a email receipt via the app and said that they need to set up a direct debit via go Cardless which has also been sent via the email address that was given.

The overall impression was very positive and professional. In fact when I handed the payment terminal to one of the customers the teenage daughter behind her was like wow mum look at that it's so cool.

It was 8pm I collected the money via card and withdrew the funds to my business account 10mins after and it was there immediately in my business account.
 8)
So you went and collected AND paid Paypal fees.  :-X

Marc Stock

Re: Paypal Here fees update
« Reply #17 on: May 09, 2017, 08:31:05 am »
Just last night I had to visit some payment stragglers. Both new customers. Checked they were happy with the service 1st though.

Went to collect the payment and explained that I must get the payment promptly in future.

Both said sorry I don't have any cash on me at the moment can you come back.

No need I said I can take your payment by credit/debit card.  And they both were very happy about that, I also sent them a email receipt via the app and said that they need to set up a direct debit via go Cardless which has also been sent via the email address that was given.

The overall impression was very positive and professional. In fact when I handed the payment terminal to one of the customers the teenage daughter behind her was like wow mum look at that it's so cool.

It was 8pm I collected the money via card and withdrew the funds to my business account 10mins after and it was there immediately in my business account.
 8)
So you went and collected AND paid Paypal fees.  :-X

Yep like I said these were new customers.

£10 cost me 28pence in fees. I think that's pretty good considering I don't need to go to the bank and pay it in, and it's in my business account immediately even after business hours.

8weekly

Re: Paypal Here fees update
« Reply #18 on: May 09, 2017, 02:10:25 pm »
Just last night I had to visit some payment stragglers. Both new customers. Checked they were happy with the service 1st though.

Went to collect the payment and explained that I must get the payment promptly in future.

Both said sorry I don't have any cash on me at the moment can you come back.

No need I said I can take your payment by credit/debit card.  And they both were very happy about that, I also sent them a email receipt via the app and said that they need to set up a direct debit via go Cardless which has also been sent via the email address that was given.

The overall impression was very positive and professional. In fact when I handed the payment terminal to one of the customers the teenage daughter behind her was like wow mum look at that it's so cool.

It was 8pm I collected the money via card and withdrew the funds to my business account 10mins after and it was there immediately in my business account.
 8)
So you went and collected AND paid Paypal fees.  :-X

Yep like I said these were new customers.

£10 cost me 28pence in fees. I think that's pretty good considering I don't need to go to the bank and pay it in, and it's in my business account immediately even after business hours.
54p I think. 20p + 3.4%.

Plus whatever you pay for the terminal.


Marc Stock

Re: Paypal Here fees update
« Reply #19 on: May 09, 2017, 03:41:14 pm »
Just last night I had to visit some payment stragglers. Both new customers. Checked they were happy with the service 1st though.

Went to collect the payment and explained that I must get the payment promptly in future.

Both said sorry I don't have any cash on me at the moment can you come back.

No need I said I can take your payment by credit/debit card.  And they both were very happy about that, I also sent them a email receipt via the app and said that they need to set up a direct debit via go Cardless which has also been sent via the email address that was given.

The overall impression was very positive and professional. In fact when I handed the payment terminal to one of the customers the teenage daughter behind her was like wow mum look at that it's so cool.

It was 8pm I collected the money via card and withdrew the funds to my business account 10mins after and it was there immediately in my business account.
 8)
So you went and collected AND paid Paypal fees.  :-X

Yep like I said these were new customers.

£10 cost me 28pence in fees. I think that's pretty good considering I don't need to go to the bank and pay it in, and it's in my business account immediately even after business hours.
54p I think. 20p + 3.4%.

Plus whatever you pay for the terminal.

No it's not. If you look at the original post and use those ping pong ball type things in your head what are called your eyes.

You will see the fees are less than standard PayPal. And it's between 1 and 3 percent of the price depending on the type of card you process.

Read the original post first .
 ::)roll

Standard PayPal for £10 = (10÷100x3.4+0.20) 0.54p

The one I am on.......
PayPal Here for £10=
(10÷100x2.8 ) 0.28p