Paypal: your pal for buying, your pay for selling (paypal.com)

Member Name: gavallan2020

Product:	paypal.com
Date:	13/06/09 (47 review reads)
Rating:

Advantages: fast secure free for buyers easy to use

Disadvantages: charges to sellers are to high!

Paypal is most probably the most widely used online transaction company in the world. It has a fantastic repuatation for being fast and secure. However not such as good a rep. for the cost to buisnesses / sellers. However, it is free to join and is to free for people who are sending money. Receiving the money does incur a cost though.

The online, my account section is very easy to use and through here all of your recent transactions can be tracked. (and the usual stuff (change email/password, hep etc.). With Paypal, you can send money in several ways, the three most popular being Visa / credit card, bank transfer, or an e-cheque (cheque sent via the internet). Sending money through bank transfer or credit cards are both free to the sender and are also completed immediately. With an e-cheque, its still free but it can take up to 7 working days to complete the payment. So, buying with Paypal is perfect, fast, secure and free. What more could you want?

Selling with Paypal is a different story though, if you are selling items under £50, then when you receive the payment you will be charged around £1.50. This is not bad, you are still getting £48.50. However, if you sell an item at £10 all out. When you recieve the payment, you will still be charged around £1.25. The same goes for anything under £10, generally under this the charge tends to be around one quarter to one fifth. If you want to transfer money at a total of less £50 back into your bank. Guess what... more fees!

So on the whole, buying with Paypal is fantastic. Selling, not so fantastic. Although if you have a website up and running, Paypal do offer a free shopping cart system as long as you use them for the payments.

Summary: see the end of the review