Friends and family BST payments

semajohn

semajohn

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Morning and unfortunately this isn't good news for fans of BST pages.

PayPal are now treating friends and family payments as cash transfers. This could mean a charge being made by your credit card with interest on top.

I've made a few such transactions this month and been hit for 4% plus interest for each of them. Including the Wolfman near the beginning of the month 😭

Be careful.
 
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alex1921

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If I tried to use FF with the CC linked to my account I was always assessed fees that's why for FF I have always used my bank account.
The fees have been around for years, at least as long as I have had a PP account.

This is from a Forbes article, Novemeber 2022.

"One of the biggest drawbacks of using a credit card to send money to another person using PayPal is the processing fee. PayPal charges 2.9%, plus a fixed fee of 30 cents to process a person-to-person money transfer using a credit card. This fee can quickly eclipse any credit card rewards you might earn.

PayPal does not charge this fee for person-to-person money transfers using either your existing PayPal balance or a money transfer from your checking account."
 
semajohn

semajohn

Forum GOD!
alex1921 said:
If I tried to use FF with the CC linked to my account I was always assessed fees that's why for FF I have always used my bank account.
The fees have been around for years, at least as long as I have had a PP account.

This is from a Forbes article, Novemeber 2022.

"One of the biggest drawbacks of using a credit card to send money to another person using PayPal is the processing fee. PayPal charges 2.9%, plus a fixed fee of 30 cents to process a person-to-person money transfer using a credit card. This fee can quickly eclipse any credit card rewards you might earn.

PayPal does not charge this fee for person-to-person money transfers using either your existing PayPal balance or a money transfer from your checking account."
Click to expand...
For me, it's only since April.
 
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alex1921

Forum GOD!
semajohn said:
For me, it's only since April.
Click to expand...
That's interesting. Considering when one uses a credit card there are transaction fees to be paid. That's how they make their money.
With GS the seller pays them. At the store the store pays them etc but at the end of the day somebody has to pay the fee.
I am surprised that PP was being charged CC fees and letting you get away with it.
 
Optometrist

Optometrist

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I've just made a F&F payment in PayPal. I have both my VISA debit and credit cards registered with them and the fee for either option was zero.
 
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alex1921

Forum GOD!
I noticed the same thing buying a razor yesterday. FF and zero fees.
On the other hand using the same card I tried to send my wife $10, FF, and PP is asking for a 0.59c fee.
 
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