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| » Forum Index » FAQ » Topic: How much does PayPal take out? If I give you $10, what do you really get? |
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Posted on 02/27/08 09:42:04 AM |
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docartemis
Administrator Posts: 688  |
How much does PayPal take out? If I give you $10, what do you really get?
This was an actual question I got by email that I have decided to answer here too: For US payments they take out 2.9%+o.30, which means for a $10 contribution, I get $10-.30-.29=$9.41, which means I get 94.1% of the donation. However, if someone gives $2 I get 1.64, which is only 82% (because the 0.30 fee is 15% of $2). Simply put, smaller donations hit harder. I have not calculated exactly where this effect tends to become insignificant. But I guess that if you consider that for a $10 donation $0.30 represents an additional 3% fee, then this suggests that for US listeners, when gifts go above $10 the 0.30 begins to be smaller than the 2.9%. However, I have left smaller payment options on the website for the sake of people who genuinely can't afford to pay more. Here is a link if you want to know more: https://www.paypal.com/us/cgi-bin/webscr?cmd=_wp-standard-pricing-outside PayPal takes 3.9% plus 0.30 from International donations. This amount is fairly similar to what the credit card companies take from merchants, but it would be much more costly and complicated for me to take credit card payments directly. That's one reason why PayPal is so popular with small businesses on the internet. The downside is that they have a reputation for being slow to transfer the money from the PayPal account to actual cashing or checking. So far I have not made enough to need to do that. _________________ Dr. Ginger Campbell (aka. docartemis) Forum Creator and Administrator the Brain Science Podcast |
Posted on 10/07/08 2:38:49 PM |
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docartemis
Administrator Posts: 688 |
Re: How much does PayPal take out? If I give you $10, what do you really get?
Note: you can now by-pass PayPal by mailing contributions directly to me at: Virginia Campbell,MD Brain Science Podcast 9340 Helena, RD, Suite F #320 Birmingham, AL, 35244 _________________ Dr. Ginger Campbell (aka. docartemis) Forum Creator and Administrator Brain Science Podcast 
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