First post for the month of April and once again I’m afraid it’s not good news. I was alerted by a friend that PayPal has decided to update their user agreement and although I haven’t had time to read it carefully, just by skimming it, it seems that PayPal will start applying a flat rate fee for customers using the Friends and Family option. I’m not great with business type language (I used to be LOL) but that’s all I had to read to decide to post about it and also alert my readers.
Here is the link so you can read for yourselves, maybe explain it better to me LOL
So what do we think?
Hi, thanks for the post. Could you explain what the friends and family option is? I use PayPal quite frequently for selling garage sale type items. Thanks.
The friends and family option is when you send money to friends or family to let say pay them back for money owed, so Paypal doesn’t charge you a fee. WHen you use the pay for goods or services option, paypal charges the seller a small fee (it’s not much, I think it’s anywhere between 1-5% ? Don’t quote me on that).
Yes, I use PayPal often as a seller, they do take a small fee. I didn’t even know there was a friends and family option. Thanks.
No problem! I thought this was going to be a bigger deal, especially because I know a lot of ladies use the Frienda and family option when they sell on facebook but I haven’t heard an uproar so I guess it’s not a big deal as I thought it was.