For those relying on Yahoo! Paydirect to avoid transaction fees, get ready for a dose of reality. Taken from the notice posted when you log into the Paydirect service:
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Yahoo! PayDirect will remain free for sending and receiving money until December 17, 2001. After this time, we will be introducing fees as described below.
Secure & Instant. Yahoo! PayDirect will continue to be a highly-secure and convenient solution for all your cash payments.
Fee Structure. The new pricing for Yahoo! PayDirect will be based on 2.5% of the transaction amount plus 30 cents. Any fee you will be charged will be automatically calculated and displayed by Yahoo! PayDirect before you send or receive payments, so you will always know what the cost is.
Value. When compared to other secure money transfer products, Yahoo! PayDirect is clearly a cost-effective solution. For example, if you send $50 using Yahoo! PayDirect, it would cost you only $1.55 to instantly and securely send that money. Compare that with the cost and all the hassles of an electronic money transfer, money order, or cashier's check. Also, think about the postage costs or special overnight delivery fees. Yahoo! PayDirect is just a fraction of the cost of these alternatives and simplifies your life!
Whether you're bidding on an auction item, sending cash to your mom, or collecting money from friends, Yahoo! PayDirect is a flexible, cost-effective solution. Yahoo! PayDirect empowers you to accept and send money instantly with credit cards, or, from a bank account. The best part is that Yahoo! PayDirect makes it easy for you, with a click of your mouse, to instantly send or receive money from a number of Yahoo! Properties including Auctions, Greetings, Mobile, and Points. Here is a sample of the nominal costs associated with sending or receiving money:
Amount Sent Fee
$10 $0.55
$20 $0.80
$50 $1.55
$100 $2.80
Yahoo! PayDirect will charge fees to either the sender or the receiver of the transaction. In most cases the initiator of the PayDirect transaction will have the option to decide who pays the fee. It will be clear before any payment is made, who will be responsible for paying the fee and what the fee will be. Both the sender and the receiver will have the option to cancel the transaction before incurring any fee.
When the receiver pays the fee, Yahoo! PayDirect will calculate, display and deduct the fee from the funds received. For example, take an auction seller who chooses to pay for the fee when he receives payment. In this case, if you paid an auction seller $20 for an item, your account would be charged $20 and the auction seller would receive $19.20.
When the sender pays the fee, Yahoo! PayDirect will calculate, display and add the fee to the total charge to the sender's account. For example, if you sent $20 to a friend using Yahoo! Greetings, your account would be charged $20.80 and your friend would receive $20.
Enjoy the benefits of Yahoo! PayDirect, it's a cost-effective solution for instant and secure money transfers!
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Yahoo! PayDirect will remain free for sending and receiving money until December 17, 2001. After this time, we will be introducing fees as described below.
Secure & Instant. Yahoo! PayDirect will continue to be a highly-secure and convenient solution for all your cash payments.
Fee Structure. The new pricing for Yahoo! PayDirect will be based on 2.5% of the transaction amount plus 30 cents. Any fee you will be charged will be automatically calculated and displayed by Yahoo! PayDirect before you send or receive payments, so you will always know what the cost is.
Value. When compared to other secure money transfer products, Yahoo! PayDirect is clearly a cost-effective solution. For example, if you send $50 using Yahoo! PayDirect, it would cost you only $1.55 to instantly and securely send that money. Compare that with the cost and all the hassles of an electronic money transfer, money order, or cashier's check. Also, think about the postage costs or special overnight delivery fees. Yahoo! PayDirect is just a fraction of the cost of these alternatives and simplifies your life!
Whether you're bidding on an auction item, sending cash to your mom, or collecting money from friends, Yahoo! PayDirect is a flexible, cost-effective solution. Yahoo! PayDirect empowers you to accept and send money instantly with credit cards, or, from a bank account. The best part is that Yahoo! PayDirect makes it easy for you, with a click of your mouse, to instantly send or receive money from a number of Yahoo! Properties including Auctions, Greetings, Mobile, and Points. Here is a sample of the nominal costs associated with sending or receiving money:
Amount Sent Fee
$10 $0.55
$20 $0.80
$50 $1.55
$100 $2.80
Yahoo! PayDirect will charge fees to either the sender or the receiver of the transaction. In most cases the initiator of the PayDirect transaction will have the option to decide who pays the fee. It will be clear before any payment is made, who will be responsible for paying the fee and what the fee will be. Both the sender and the receiver will have the option to cancel the transaction before incurring any fee.
When the receiver pays the fee, Yahoo! PayDirect will calculate, display and deduct the fee from the funds received. For example, take an auction seller who chooses to pay for the fee when he receives payment. In this case, if you paid an auction seller $20 for an item, your account would be charged $20 and the auction seller would receive $19.20.
When the sender pays the fee, Yahoo! PayDirect will calculate, display and add the fee to the total charge to the sender's account. For example, if you sent $20 to a friend using Yahoo! Greetings, your account would be charged $20.80 and your friend would receive $20.
Enjoy the benefits of Yahoo! PayDirect, it's a cost-effective solution for instant and secure money transfers!
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