paypal fees vs other payment processors

[instantbusiness2020]

Hi I wanted to start selling a digital product using a platform like ko-fi and paypal and I was thinking about selling it for around $2 (is a very simple digital product)
How much profit would I keep if I sell the digital product for $2 or $3 if I use paypal? and if I use another payment processor?

 

[MobileProxies]

Paypal fees are insanely high. Higher than the standard market.
And worst of all, PayPal can freeze your money and ban your account without any reason.
My best advice is to stay away from PayPal at any cost and use other alternative payment gateways.

 

[Thorr]

... PayPal can freeze your money and ban your account without any reason...

It is not without any reason, actually when they limit the account they always say what you have to do to remove the limitation.
They will limit your account when you hit a certain amount of money, when they want to know what service or product you are selling, when they want to check who you are so you must upload all kinds of documents...

 

[Salamouna]

It won't be much profitable with paypal plus paypal don't like digital products

 

[rocketpr]

Use Stripe, you'll keep most the profit. Pretty much any payment processor besides Paypal.

 

[MobileProxies]

It is not without any reason, actually when they limit the account they always say what you have to do to remove the limitation.
They will limit your account when you hit a certain amount of money, when they want to know what service or product you are selling, when they want to check who you are so you must upload all kinds of documents...

Well, I have seen plenty of such cases coming up in my BHW homepage where PayPal banned users with no reasons..

Ask here and 70% will say it's true.

 

[Thorr]

... Ask here and 70% will say it's true.

If you create fake profiles or if you sell products that are against their TOS, they will ban you.
I have an account since 2006 or 2007 and there is no problem with it.

 

[MR.Spuf]

Paypal get insanelly greedy, even tho I am using it, I am searching alternatives to get away from them.

 

[Brianth]

Paypal fees are very high. I recommend Binance or Payoneer. Anyway, you should put your money on different platforms, if something happens, don't lose everything.

 

[PURSUIT MEDIA]

Paypal get insanelly greedy, even tho I am using it, I am searching alternatives to get away from them.

I think Binance is cheaper.

 

[dimitrivisser]

Paypal fees depend on where your clients come from, the currency they use, the currency you use, the currency you must convert your funds to to be able to withdraw them.

For example: I have a UK LTD with a UK Paypal account. But everything I sell is in USD or EUR. So I receive USD and EUR, but have to convert them to UK Pounds to be able to transfer them to the connected bank account, because for UK Paypal accounts they only accept a bank account in Pounds. And after receiving this money in Pounds on my bank account I have to convert them to EUR because that is what I use to pay myself a salary. So basically they are forcing me to convert to a different currency 2 times. And every time I pay fees.

Stripe is much more friendly. If I receive EUR I can transfer them to my bank account in EUR. If I receive USD I can transfer that to my bank account in USD.

Paypal is so greedy, it is disgusting.

There is only 1 positive thing to say about Paypal. Customers like it and will buy more quickly.

 

[ninomino19]

Have a good luck and try to withdraw from paypal as soon as possible as they can betray you any moment and lock the money for half a year as it's more profitable for them

 

[Iuzzu]

Paypal fees: 100%

They will take all your money when they have the opportunity

 

[MR.Spuf]

I think Binance is cheaper.

you're right, using that as well, just that some people don't have an account there yet so nned to stick with the devil for the time being