Pay Pal and Fees

[Fontayne56]

Hi guys need some advice. I Run a club and we would like to enable booking of camping online, with a payment gateway, ie paypal.

 

I use paypal for ebay purchases but what are the hidden costs for reciveing money. Theres going to be large quantity of money coming in. And dont want to be ripped off.

 

I'm using Joomla at the moment. Can i do this with a Standard Paypal Account. I have the module Nice and Simple Pay pal or somthing like that and it works a treat.

 

Whats the best and cheapest way i can recieve money ELP !!

 

 

Many Thanks.

[Michael]

This should help

[Fontayne56]

Brill !! so if i was going to transfer out lets say a thousand pound out to a bank account there is a fee for that to... i cant seem to find these fees.

 

Many Thanks

[localzuk]

Brill !! so if i was going to transfer out lets say a thousand pound out to a bank account there is a fee for that to... i cant seem to find these fees.

 

Many Thanks

 

Transferring money to a bank account doesn't have a fee attached. We use paypal for our school shop here, and transfer money out regularly at no cost.

 

Depending on the amounts you're talking about, you may be better off looking at a full merchant account etc... with a bank than with Paypal.

[laserblazer]

Google also has a paypal type service. I don't know how the rates compare.

[Michael]

There are fees for processing transactions and when converting say USD to GBP for example, but there are no fees for moving the money to your bank account.

 

Depending on the amounts you're talking about, you may be better off looking at a full merchant account etc... with a bank than with Paypal.

 

In my experience I have to disagree with you there. Merchant accounts require you to have a business of some kind, a business bank account, the transaction fees can be higher and there are typically monthly fees of around £20 just for having a merchant account.

So for example, if you were unfortunate to have little or no business one month you still pay £20.

 

PayPal is a true 'pay as you go' system and you're not tied into any contracts. You can do business globally, accept multiple currencies and accept credit/debit cards too. If you compare this to other payment gateway services you'll see what I mean

 

Google also has a paypal type service. I don't know how the rates compare.

 

When Google Checkout was launched the rates were lower than PayPal and there was a system which credited you for their Adwords system. Google Checkout's rates are now identical to PayPal's.

[localzuk]

In my experience I have to disagree with you there. Merchant accounts require you to have a business of some kind, a business bank account, the transaction fees can be higher and there are typically monthly fees of around £20 just for having a merchant account.

So for example, if you were unfortunate to have little or no business one month you still pay £20.

 

The OP said "Theres going to be large quantity of money coming in." If these numbers are large enough, the benefit of a true merchant account may be more obvious. We researched 6 different payment methods here for our site. We only take a few thousand a year in online payments, so paypal came out best, but if we had been taking around £10k a year, a merchant account would have been more cost effective.

 

PayPal is a true 'pay as you go' system and you're not tied into any contracts. You can do business globally, accept multiple currencies and accept credit/debit cards too. If you compare this to other payment gateway services you'll see what I mean

 

And as with everything that is pay as you go - for many this can lead to bigger bills than a contract. I did compare it to others, that is why I'm talking about it.

[Michael]

Well from my point of view (as a business) it's all about managing cash flow. Merchant accounts do require comparatively large setup fees and looking at WorldPay as an example, here and here their advertised transaction fees for Credit Cards are up to a whopping 4.5%.

 

This also excludes the setup fees, monthly fees, any additional currency fees and so on. With PayPal I literally pay nothing unless a transaction occurs. It is a much better business model.

[Fontayne56]

As we are only a club and this would only happen once a year and we dont want an on going cost.

 

I think will try to get my head around paypal . as this seems to be the best setup for us.

 

Now i have the method sorted just need a way to give them a booking reference so the girls on the camping gate know they have paid .... How could i do this.

 

Many Thanks

[sidewinder]

You will lose money with paypal in the charges, though it probably wont be a huge amount. Alternatively you could ask people mark payments as 'gifts' as there is no charge then, however Paypal might get suspicuous about you receiving hundreds of 'gifts'

[rlweb]

Try Google checkout its 3% + 20p charge if you take under £1000 a month.

[localzuk]

Try Google checkout its 3% + 20p charge if you take under £1000 a month.

 

The amount is identical to Paypal's amounts now...

[rlweb]

When Google first started if was free for the first 6 months... but now

[powdarrmonkey]

Now i have the method sorted just need a way to give them a booking reference so the girls on the camping gate know they have paid .... How could i do this.

 

Many Thanks

 

Use the PayPal transaction ID, which is guaranteed unique.