For many domain investors, PayPal has been a staple method of transacting, particularly in the three to four figure range domain acquisitions and sales.
PayPal recently announced rate hikes for its convenience service, and that move will once again erode domainers’ earnings.
Instant transfers will no longer cost $0.25 but the fee increases to a whopping 1% of the amount being transferred. That’s almost like a lawyer’s escrow fee!
PayPal rates to go up.
Said domain investor, Page Howe, on NamePros:
“So paypal emailed out changes coming, instant transfer now 1%. And i guess to keep it all in the family, Venmo – which a couple of other domainers recommended to me used to be free for an instant transfer, and now they emailed this below…”
Venmo is a service of PayPal, Inc., a licensed provider of money transfer services, and money transfers are provided by PayPal.
For more on this discussion, head over to NamePros.
It’s 3,4% + 0,25€ from France so be happy!
Francois – Mon dieu!