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[GUIDE] How to Save Money with Paypal

Discussion in 'BlackHat Lounge' started by john colin, Dec 11, 2008.

  1. john colin

    john colin Registered Member

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    Hello all,
    Since I learned a lot in the very few weeks I spent here, I should give something in return for people here
    * Mods, please change the section if you feel its not the right one, I did my best to find the most suitable section and I think this is where this thread should be

    I saw almost no mention in the forum about Paypal Mass Pay, so, here is How to Save Money with Paypal Mass Pay


    What is Mass Pay? Why Mass Pay?
    When you send money using Paypal, Paypal will deduct a transaction fees from the receiver vary from 1.9% up to 4.9% of the transaction amount + $0.30. For a transaction of $1000 for example using the normal way, the fees would be: 4.9% * 1000 + $.30 = $49.30
    The sender pays nothing, always the receiver do, this is where Mass Pay came to make sender pays the fees and receiver receive his full funds without cutting anything at all, but wait, don't panic. For a transaction of $1000 for example using the Mass Pay, the fees would be: $1 !!
    Yes, only $1 in fees is all what you have to pay regardless of the amount you are sending and the receiver will receive his FULL money, powerfull isn't it?
    Imagine you are a seller and receives lets say $1000 a day in sales, actually, you will receive only $950.70 a day because of Paypal fees!
    Imagine you are a heavy buyer and spending lets say $1000 a day, and sellers as usuall asks you to add a percentage amount to cover fees, with Mass Pay you end up paying only $1001 a day, only one buck!


    How to Make a Mass Pay Payment?
    Its very easy to do, you just need a Premier/Business account, follow these easy steps:

    1. Open a notepad and type the following:
    Code:
    receiveremail@domain.com    90    USD
    ****separated by tabs (use tab key, not spaces) ... space will DAMAGE the file****

    2. Save that file to your desktop in .txt format with the name mass or anything you like, this file in brief telling that you want to send to receiveremail@domain.com the receiver a total of 90 the amount USD the currency. Just make your own changes each time, change the receiver, the amount or even the currency
    tip: you can send money to more than one person at the same time, just duplicate that line as per your need and make the changes you like to each line to pay more than one person

    2. Log in to your PayPal account the usual way, but instead of sending a payment the regular way, look for the small link on the bottom of your screen that says (Mass Pay), click on it
    [​IMG]

    3. You are almost done, choose make a Mass Payment now and you will be asked for a mass pay file, just browse to find the mass.txt file on your desktop, and choose the recipient type as email address, send and you are done
    You have just sent $90 to that person, deducted $91 from your balance and he received $90 in his balance


    Enjoy it every body, save yourself and others some bucks when send/receive money using Paypal
    let me know if you need any help with Paypal guys, Enjoy :)
     
    • Thanks Thanks x 10
  2. intence

    intence Regular Member

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    Wow, I never knew about this. Good post thanks.
     
  3. predayshus

    predayshus Junior Member

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    This is a nice little nugget of knowledge. It demonstrates you give a crap about your seller. Guess they did something extra special for you to go through all this trouble ;)
     
  4. unselfishfan

    unselfishfan Registered Member

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    This is really valuable and very much needed.
    If you have a mailing list, I want to be on it.
    Anybody who thinks like you do, is someone
    I want to learn from. I like your style, your attitude,
    and your share! Well done!
     
  5. john colin

    john colin Registered Member

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    Thanks for all of your kind words folks, I'll continue to add more tips as the time permit and may think about the newsletter thing as unselfishfan suggested
    hitting that thanks button won't hurt me guys ;)
     
  6. WizGizmo

    WizGizmo Super Moderator Staff Member Premium Member

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  7. BlackBeret

    BlackBeret Regular Member

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    I will use this from now on to move money between my PP accounts. It will probably save me about $15 a month.
     
  8. darkmobius

    darkmobius Regular Member

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    damn, nice tip there, thank you!
     
  9. john colin

    john colin Registered Member

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    Thanks a lot guys, sorry if this info posted here before, I didn't really notice that but I did a search not to post something twice and found nothing, hope someone will find it useful
    Enjoy and Save people
     
  10. lewi

    lewi Jr. VIP Jr. VIP Premium Member

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    if you have a UK account you can also just choose gift and it will cost you only $1 extra (me thinks) to send it and they have no charge :)
     
  11. polos

    polos Registered Member

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    nice share !!!