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How does Paypal make ANY money?

G

GoldenBear

Banned
I mean, they don't charge for their service, they have no ads on their pages, and they PAY people for signing up? Just wondering..
 
They earn interest on the money while it in transit. And they do charge fees now for somememberships.
 
Hahaha! Guess you haven't used it in awhile eh?

They charge a flat 2.2% on all incoming money. You can't take in more than $500 in Credit Card money in 6 months (because it costs them money). Also you can't send out more than $1000.00 in CC money in a 6 month period.

Their service sucks. They used to make money by taking the balance of money in peoples accounts and investing it in stocks for a short term gain.

The only "free" service that's worth anything now is ExchangePath.
 
Can't they just fold anytime and take all your money with them? Last time I checked, they're not even FDIC insured.
 
Okay, I have another question now..

This morning I paid someone $140 through Paypal, and just now someone paid me $65..So will I be charged $75 now or what?
 
I don't think so, you'll have a positive $65 balance in your PayPal account until/unless you transfer it to your bank acct or request a check.
 
Actually that's a good question. I think if they did fold your only recourse would be through your credit card company. That could get real sticky.

Also if you sent someone money, and then you received money, the money you received will remain in your account until you either spend it, or have it deposited into your bank account.
 
Haven't tried ExchangePath yet, but was wondering if another free service of YAHOO! PayDirect was any good? Maybe it's time for me to leave Paypal.
 
I actually prefer Yahoo Paydirect over Paypal cuz its free for auction sellers to receive money. you get a $200 spending limit/ 180 days initially for signing up, then bumped to $1000/30 days once you verify your mailing address. Payments clear instantly unlike Exchangepath which takes up to 3 days to appear in your account.
 
Don't bother trying ExchangePath. So many members here on AnandTech had testimonials about their losses through ExchangePath. If someone asks you to send an item to another country and that they'll pay you via ExchangePath, refuse it immediately.
 
after paypal started limiting, and somehow charged a card i took OFF FILE FOR 3 MONTHS... i said screw it... back to good ol' postal MO's.
 
Ok, first of all exchangepath is horrible and they're about 3 months from going out of business.

Every auction service that reccomended them has dropped them

Paypal is great. If you're a business premier member you'll have no problems. I get a lot of business because of paypal.
 
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