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Discussion Starter #1
So, I just sent a person money via PayPal gift where there is normally no

fee. I just got charge a fee from my bank account. There should not be any fee for a gift. Paypal is really helping the pandemic with making sure THEY get their money!!

Dave
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No matter what, they get their cut now. It's pretty shitty if you're just trying to send a gift to someone or pay a roommate back for something. Luckily there are a few other options, like venmo and cashapp.
 

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If you have "money" on your pay pal account then gifting has no charge to either person. If your balance is $0.00, and tied to your credit card, then the 3.4xxx% gets added on to your bill.
Gift $100.00, you get charged $103.40
Send 100.00 for goods or services, you get charged 100.00 but they get deducted the fee and receive $97.XX.

This is my understanding on it from reading the fees that apply.
 

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Discussion Starter #4
I did have zero in my paypal but I always keep it there. I did send from my bank account and not the credit card so?? First time this has happen to me. No fees to the guy I was sending money to...just me?

Dave
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Well, i guess the free ride is over.

Bank account draft was the only way to send money for free unless you had a balance in the Paypal account...I guess they felt they were leaving some crumbs on the table.

Oh well, just one more thing that has been killed by greed!
 

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if you have a balance in your paypal gift is still free, if you fund the gift with a credit card or out of a bank it will cost you extra.
 

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Discussion Starter #8
There was no fee the person receiving the money...just the sender. I have never been charged a fee for out of the bank. Credit card I understand. There is no such thing anymore as family and friends...you have to use the "MORE" button and click that and then to 'GIFT" 4 down and go from there. This is new to me... I did it three times to be sure not to use my credit card. But my PayPal was empty as it always is.

Dave
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No matter what, they get their cut now. It's pretty shitty if you're just trying to send a gift to someone or pay a roommate back for something. Luckily there are a few other options, like venmo and cashapp.
I'm slow on the uptake but I was recently turned on to Venmo. That's now my preferred method for transferring money to acquaintances. Buying something on line I still use PayPal.
 

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When paypal started up, many, many years ago, there was no charge for 'gifting', 'friends and family' transfers. Vendors would request customers to pay via those transfers; thus saving the fees paypal charges to business. Paypal caught onto this and started charging for 'gifting' although still less than a vendor's fee. Now, whenever I buy privately online, the seller almost always asks for a gift. That way, the seller gets the full amount and I incur extra cost.
Also, as a Canadian buying from a US seller paypal charges me a higher exchange rate than my credit card or bank. On top of that they charge an extra fee for doing the exchange.
For those reasons I try to avoid paypal.
Also, I do not have my paypal account tied into my bank account. The number of times I had to get new credit cards because of online sites being hacked makes that very, very inadvisable.
 

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Discussion Starter #11
Venmo is a great answer to the problems till they catch on. I think you can tie it to your C/C as well?

My wife uses it so I need to get on board.

Dave
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Venmo is a service of PayPal.

Venmo is a service of PayPal, Inc., a licensed provider of money transfer services (NMLS ID: 910457). All money transmission is provided by PayPal, Inc. pursuant to licenses. © 2020 PayPal, Inc
 

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I did a transaction on May 28th. No fee's either way.

It came out of my bank account, and was sent as a gift.

Was it a change that occurred after that?

Mike
 
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