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Hi, I just cashed in for a large amount for paypal. I am very grateful for my reward, however, I was shocked with over $7.00 in fees. Did I miss where this was outlined somewhere on the SR site??? I would have cashed in for gift cards instead.
Thanks.
Those fees were probably charged by PayPal because of the type of account you have.
Someone with more experience cashing out that way may be able to provide a clearer answer.
The fees must have been associated with your PP account. I've never been charged a fee and my last cashout was received in May. SR doesn't charge a fee.
So sorry.:(
It does have to do with your paypal account. I had the same happen years ago when I started. I had a paypal account I used for ebay selling. It allowed people to use credit cards. With that account paypal takes a fee. So I set up another basic account with paypal and use that one here at SR.
It is frustrating the first time you realize there is a fee but you have time to set up a new account with paypal before you cash out here again.
I agree with Lisa and Megan, there are threads about it. If your paypal accepts credit cards they'll charge you a fee. I opened a seperate basic paypal account just for SR so I don't get charged a fee, and never have, no matter what amount I've cashed out for.
Thanks for your responses. Some how my account is Premier - go figure. Any way changed it to Personal, so next time I will not be charged fees.
I do remember reading about this before, but thought I was ok - thinking why would I have a premier account, since I hardly use it.
I am so thankful to this site and what I have earned. Now that I fixed my paypal account, I am good to go next time.
:sunshine:
SR has nothing to do with the fees, those are solely set and taken by Paypal based on what type of account you have. Not sure if you can change your account or you would need to open a completely different one to avoid any future fees.Quote:
Originally Posted by metallicaruler80
Paypal allowed me to change back to a Personal Account. I guess in the past - meaning 2 years ago or so, we did some buying and selling on ebay. When you do this and accept credit card payments, you are automatically upgraded to Premier. I wish my frequent flyer miles or credit cards would automatically upgrade me......
Again, I remember checking this out on the boards before I chose the paypal option (it is coming back to me), and I do remember reading that there is no charge from SR. But again, who would have thought I would have this "Premier" account, since I am a "regular" person.:o:o
I have a love/hate relationship with Paypal. When it works good it's fantastic so quick and no messing with cc's but those fee's can get pricy!
I'm glad Sunshine offers it as an option! That is kewl!
Just FYI, while the OP found out she had a Premier account and was therefore charged a fee by Paypal, there has been a recent change to the fees charged on Personal accounts too.
I was charged fees on a payment in to my personal account that was not sent by credit/debit. If I read correctly, they are now charging fees even on personal accounts if the payment comes through as marked "goods or services". (I think when you send money, you choose what it is for or something). I'm not sure how SR marks the payments made by paypal, but if it is marked this way I think there will still be a fee taken out.