PayPal Vs Credit card

I was researching other payment possibilities to my web store and it seems like PayPal is one of most expensive on fees and currency conversion.
What do you guys use most and why ?? If there is only Credit card payments available is it ok, or you like PayPal most ?

Paypal must have an excellent research department. Their fees are high enough to annoy the heck out of me, but JUST within the limit of what I can tolerate in exchange for the convenience. So, I grudgingly keep using it, thinking the time I would need to research a better option may be more than the fees I pay them. But it will be worse for you with a more international customer base and the currency conversion rates.

Stefan

Last i checked with currency conversion rates i pay approx 10 % to PayPal

10%!? :O Why don't people just mail you the money in an envelope instead?

But how about bank transaction, that should be a more fair excange rate?

Yeah, bank transaction is very cheap but it have its limitations. Not so safe, takes 2 days to transfer

maxim said:

Yeah, bank transaction is very cheap but it have its limitations. Not so safe, takes 2 days to transfer

Click to expand...

It's also much easier to do bank transfers in Europe. The US banks are approx. 20 years behind... I still need to write checks here which I hadn't done since the 80s in Europe... An international transfer with my house bank costs me $50 in fees - not something I want to do often.

Stefan

From AU, I've found paypal to be quite good for me buying. Exchange rate is not as good as bank credit card, but there is no international transfer fee when using bank cash account with paypal, a touch cheaper in the end.

I prefer Paypal because I don't have a credit card, only a debit card. So for example I can't buy apps for my phone because Android only accepts credit cards which is maddening

I hate to set prices up just because of some stupid fees, but it seems like i have to
On the plus side PayPal have super nice security for my costumers and transaction is very easy. But i have to fins solution for better currency conversion.

Do you have to convert from EUR to Danish Krone?

Yep, that is the biggest Dealbreaker

One option is to set a price in Danish Krone then we all pay one conversion, rather than two, for non EU residence, of course.

Yes that is actually good idea, i may consider to change my store to Danish krone :groucho:


Let me know guys what you think about that ??

Well, if I had a retail business, brick and mortar or online, I'd price all my products to include any credit card or Paypal fees. Who actually thinks "Free Shipping" is actually free.

Yea we do that, but currency conversion change like every day at PayPal so i cant change prices every day.

Maybe one or two people don't have credit cards, but I can't imagine that's common. Maybe it's possible to set up PayPal accounts without a credit card in some places, but in 2 countries I've lived in you need a credit card for PayPal. No direct debiting from your bank account. According to the above, that's not true in the UK. But I've usually assumed people using PayPal already have cards. So - I don't know for sure, but... - I'd guess you wouldn't lose much custom switching to credit card payments. Or why not accept both PayPal and credit cards?

Incidentally, my wife exports clothing via the internet and also complains about PayPal - the fees and also a few customers who, despite no wrongdoing on my wife's part, have made 'claims' against her, freezing up her account. She also accepts bank transfers and will collect WesternUnion transfers.

I wouldn't want to buy from you via bank transfer, though, Maxim. Bank transfer fees for me from Korea aren't as high as the guy above, but it'd still cost me $20.

Thanks guys for your replies
I decided to kip PayPal only as credit card company want a lot of fees also so i will only get more fees with 2 options :running:

But i have changed my currency now to Danish Krone, you can still choose US or Euro for product and basked view but checkout will be in DKK

Thanks again !

Cool. More fun to deal in a new currency, for me. The USD is so passé.

yeah... be careful with paypal... their seller protection is a joke and they always side with the customer even when you've done nothing wrong or when its a scam. I wish i could use something other than them, but in a lot of ways, they make my life much easier. I do use google payments sometimes though.

I think most people here (me included) use paypal because of the convenience but I didn't know it was such a hassle to the vendor. Next time I order from someone I'll ask what method they prefer.

Yeah, one of the best vendors for parts and accessories for m car is in Berlin, and not only does he have to charge DHL's exorbitant prices for their awful shipping -- for example, €180 for four 16" alloy wheels, which took about three weeks for one pair to arrive and another week to get the second pair -- but he chooses to charge 5.5% Paypal fees for those who prefer Paypal over interbank transfer.

Maksim, if you put prices in DKR the exchange rate will fall on the customer instead of you. Most international vendors do business this way. Example, if you book a hotel room online, the hotel chain prices in the currency of the country in which the hotel is located, and gives a representative price in your currency of choice -- but the fine print advises that the final amount on your credit card will depend on your bank's exchange rate when the transaction is posted and processed.

'Awful'? We've never had any probs with DHL. Maxim uses them too, methinks.

Yeah i am very happy with DHL they pricing is very reasonable but companies have to negotiate good prices with them they listing prices is crazy !
And they also have many different product i use express service only

My wife has gone through the same thing - she uses DHL, and has had to negotiate.

It's possible DHL is better from elsewhere, but from Germany -- DHL's home country -- it's awful, no retraction. Royal Mail from the UK through the USPS or Canada Post costs a tiny fraction, yet gets to Canada or the US in a fraction of the time, without damage. Packages from Germany usually come via DHL through the USPS or Canada Post, take an age to get here, and are often damaged.

When I order from Maxim, the packages go from Denmark to Germany to the USA and I'll have it within 2 days with zero damage. Maybe it's just the luck of the draw.

DHL has been behaving well for the delivery time to AU. Had one incidence where AU DHL wanted to charge me custom fee for about fifty bucks. Many people seem to think that it was AU DHL scam.

Nehh not luck every time i ship with DHL they are very fast. I think its depends on how you ship with them. I am also now started to receive packages from Japan with DHL too and its faster then EMS

Yup, I've used DHL going between several countries in Asian, Europe, Tunisia and Canada. All good. Same with my wife - from Indonesia to Europe, Nigeria, the US, Trinidad, Singapore...

Ain't no DHL around here anymore.

PayPal seems to have just cornered the market. It's HUGE that I can just invoice someone and they can pay pretty much however. Also, I have a card, so I can get money out of Paypal without paying a fee. But they do eat 3% of everything(which is the price I pay for being able to run a Global business out of a shoebox, so not so bad IMO), but their exchange rates are NOT cool. Not cool at all.