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Did PayPal steal my money?

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Contributor

Did PayPal steal my money?

I sold an item on Ebay. A textbook.

Sale price total $70.00 + $4.99 for shipping.
Ebay said I made $79.75. Maybe this was taxes.

But they took a fee of $7.35, how the hell is this even remotely close to 2.9% and 0.30 per transaction?
Current fee comes to 8.840% + 0.30
Fee should be 2.17471 + 0.30 for a fee of 2.47

Any ideas?

5 REPLIES 5
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Esteemed Advisor

Re: Did PayPal steal my money?

@danny29992 

 

eBay charges 12% on the final value for book sales, + there's sales tax. PayPal charges 2.9% + 30 cents on the entire amount received including shipping/handling and sales tax.

 

https://www.ebay.com/help/selling/fees-credits-invoices/selling-fees?id=4364

 


Kudos & Solved are greatly appreciated. 🙂
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Contributor

Re: Did PayPal steal my money?

I'm a little confused by this.
Why do I have to pay a fees on collected sales tax?

Also I looked into the break down, they subtracted out the collected tax by ebay

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Esteemed Advisor

Re: Did PayPal steal my money?

@danny29992 

 

Because PayPal based their fees on entire amount processed of each sale. Most credit cards or payment processors does this.


Kudos & Solved are greatly appreciated. 🙂
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Esteemed Advisor

Re: Did PayPal steal my money?

@danny29992 

 

What eBay charges on their monthly invoice and what PayPal charges are separate as well. If you look at the transaction in your PayPal account, look to see the break down over there in fees.

 

12% of $74.99 is about $8.99, no? There could be insertion fees (fees for making a listing in eBay).


Kudos & Solved are greatly appreciated. 🙂
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Contributor

Re: Did PayPal steal my money?

Yeah thanks for the reply
I went into PayPal break down and that showed the price + shipping + taxes - taxes - fee
nothing about ebay collection but like you said that is separate.

Thanks @ all