WOW Paypal Fees - Did I miss something???

[SunshineGirl]

Interestingly, it looks like the fees are also capped at $1 per transaction. So it actually costs us less if someone cashes out for $100 every two months rather than $50 every month. The cashouts for $25 every month are more expensive than the ones who wait 4 months to cash out for $100. So we may want to look at just changing the minimum cashout as well and continuing to pay it ourselves but having people cash out less often.

[jgates8]

We would definitely be better to redeem for $50 paypal with a $51 deduction than to pay them the .35 transaction fee and 3% (1.85) or even worse as it gets higher redemptions - as long as you are sure you are capped at $1 per transaction. A $100 cash out for $101 is definitely also better than $103.35, etc etc etc.

[askomsky]

Interestingly, it looks like the fees are also capped at $1 per transaction. So it actually costs us less if someone cashes out for $100 every two months rather than $50 every month. The cashouts for $25 every month are more expensive than the ones who wait 4 months to cash out for $100. So we may want to look at just changing the minimum cashout as well and continuing to pay it ourselves but having people cash out less often.

Sounds good to me, whatever makes it easier on SR where they don't lose money. Or like Cate said do something where we can eat the $1. Much rather "pay" SR the 1 per transaction then paypal getting to much more from any of us.
I don't mind since we're already doing almost that for gift cards.

[sunshinecindy]

My suggestion would be to give a 50.00 cashout option for anyone wanting to absolutely cash out, but charge the 51.00 for it, for someone waiting till the 100.00 mark, charge 100.50 and for anyone over that, SR would pay the dollar themselves. That might entice members to wait to cashout till later saving fees all around for everyone, but still give those that absolutely need the money earlier the option, with them paying the fee. Just a thought.

[jgates8]

Sounds very fair to me. I should be doing paypal for cash, but I can't spend my Disney g.c.'s anywhere around here - so those WILL be there when it's time for our vacation!!! Paypal will disappear into grocery money I am sure........

[chipndale]

My suggestion would be to give a 50.00 cashout option for anyone wanting to absolutely cash out, but charge the 51.00 for it, for someone waiting till the 100.00 mark, charge 100.50 and for anyone over that, SR would pay the dollar themselves. That might entice members to wait to cashout till later saving fees all around for everyone, but still give those that absolutely need the money earlier the option, with them paying the fee. Just a thought.

Cindy's suggestion sounds fantastic. I would rather wait and cash out less often if it meant that SR or I would be charged less.

[gpp2001]

I have never cashed out via Paypal but have been thinking about it as we have a cruise planned in October and then no big Disney plans - we have season tickets to Disneyland and don't spend a lot when we go. I would rather save my SR money for a big vacation such as Germany nest year. But when I heard about the fees associated with Paypal I was a little disappointed. But wouldn't mind waiting to cash out in larger sums (I am currently at $497.48, trying to get to $500!!!)

Thanks for all you do for us!!!

Karn

[askomsky]

I have never cashed out via Paypal but have been thinking about it as we have a cruise planned in October and then no big Disney plans - we have season tickets to Disneyland and don't spend a lot when we go. I would rather save my SR money for a big vacation such as Germany nest year. But when I heard about the fees associated with Paypal I was a little disappointed. But wouldn't mind waiting to cash out in larger sums (I am currently at $497.48, trying to get to $500!!!)

Thanks for all you do for us!!!

Karn

WOW! Awesome!!!!

I agree. Cindy's idea is the best.

[jtowner]

I also was not charged a fee this time. I had a thought some places use direct deposit for cash out. Is that a option for SR.

Jtowner

[SunshineGirl]

I also was not charged a fee this time. I had a thought some places use direct deposit for cash out. Is that a option for SR.

Jtowner

Honestly, I would rather us not have a copy of people's bank account numbers anywhere for liability reasons. People already send us hate mail telling them to stop charging their credit cards or their phone bills for offers and threatening to sue us. We kind tell them that they never gave us any of that information, so how could we be charging them? At least with the Paypal, no one will ever be charged anything unless they agree to it within paypal.