New Paypal B.S.

[zuel69]

Right on guys..swamptrash - it absolutely affects buyers! I just sold an empress vintage modified delay yesterday on Reverb, I get paid with paypal + another $15 bucks for sales tax. What happened was, the buyer was forced to pay me sales tax which I need to hold on to to pay back Reverb on the 1st of the month. Reverb then pays the state of Washington where the buyer lives. I had no idea this was happening all the while. It's gonna spread to every state so they can charge you and me sales tax on everything we buy from any state from any source.

 

[skullfxr]

@zeul69 I reread that after my previous post. But yeah. That sucks. I will stick to local classifieds now. That is no good.

 

[Scumback Speakers]

To add... I believe the credit card company refunds paypal the 3% they charge the seller so now they get to pocket that money. Nice work

That is my understanding of how this works, too. I've had a business account with them for years. When a buyer paid me for an old cab I had here last week, it's was almost $1500 with shipping/speakers/packing/etc. I transferred the money early Friday afternoon.

PayPal held onto that money until Monday, even though it's usually overnight.

Just another way to make interest on the money they already made their 3% on.

 

[napalmdeath]

To add... I believe the credit card company refunds paypal the 3% they charge the seller so now they get to pocket that money. Nice work

That is my understanding of how this works, too. I've had a business account with them for years. When a buyer paid me for an old cab I had here last week, it's was almost $1500 with shipping/speakers/packing/etc. I transferred the money early Friday afternoon.

PayPal held onto that money until Monday, even though it's usually overnight.

Just another way to make interest on the money they already made their 3% on.

That was exactly why Ebay started holding peoples' money for up to 21 days after you sold/shipped an item. It was THEIR money for that period. Fuckwads.

 

[skullfxr]

To add... I believe the credit card company refunds paypal the 3% they charge the seller so now they get to pocket that money. Nice work

That is my understanding of how this works, too. I've had a business account with them for years. When a buyer paid me for an old cab I had here last week, it's was almost $1500 with shipping/speakers/packing/etc. I transferred the money early Friday afternoon.

PayPal held onto that money until Monday, even though it's usually overnight.

Just another way to make interest on the money they already made their 3% on.

That was exactly why Ebay started holding peoples' money for up to 21 days after you sold/shipped an item. It was THEIR money for that period. Fuckwads.

Another reason why I don't sell on eBay.