Regulated fees of payment platforms

[Alexandoy]

I have been with Paypal ever since I started my freelancing in the internet. Paypal is my only means of payment processor. My account is connected to my credit card. In case I have a problem with my balance like sending or paying above the balance then the credit card will be used by Paypal.

My issue with Paypal is the high service fee that is charged for every money that I receive as payment for my online work. Some users have suggested to use a digital wallet to withdraw in crypto with a lower gas fee. But the charge will rise sooner or later. What we need for payment platforms is to be regulated that the fees will be fixed and not exorbitant like what Paypal is presently charging us.

 

[Yugocean]

I am also been with PayPal since I started freelancing, and PayPal is only means of fiat payment for now.. However, my account is not connected to my credit/debit card. I am also fedup with high fees that is charged for receiving amount.
I also suggest you to use a digital currency wallet, don't worry about future rise, you will experience it and understand it for low cost transaction.

 

[Mika]

Yesterday, I received $6 from Trendri. Paypal deducted 62 cents as the fees. I have tried a lot of payment solutions including cryptocurrencies and every payment solution I have used has high transaction fees. Crypto currencies were introduced to cut the middle man and reduce transfer cost but these days they have one of the highest transaction fees.

 

[sincerem]

Paypal is attached with high transaction fees for any transaction at all that enters into the person's paypal wallet. I've been making use of crypto ever since i started my online journey, the charges i incur transacting around it isn't all that much provided i use lower gas fee coins like BCH, LTC, TRX, DOGE, BNB, BUSD etc. Using Binance to send and receive coins is simply the best.

 

[Good-Guy]

Paypal has a really high fees and this is why I would not prefer it even if they start providing their services in my country. Unfortunately, paypal is not available in here and I have to rely on cryptocurrencies to receive payments. The biggest advantage of using crypto over paypal is the low fees and it does not require you to go through KYC (Know Your Customer).

 

[Finger Geek]

Yesterday, I received $6 from Trendri. Paypal deducted 62 cents as the fees. I have tried a lot of payment solutions including cryptocurrencies and every payment solution I have used has high transaction fees. Crypto currencies were introduced to cut the middle man and reduce transfer cost but these days they have one of the highest transaction fees.

Imagine that. How will someone received fund to his account and also be deducted for receiving. That is very bad. I have PayPal account with funds inside but I don't like the payment processor because of there strict rules and regulations they have. Just to receive 6 USD they deducted 62 cent form your account. That is too high. That is like 10 percent.

 

[btaliat]

This is one of the reasons why many people don't always suggest PayPal as the best gateway to recieve money online. I think these platforms always charge outrageously because there is no regulated bodies that will be monitoring their activites. I even wish if bank can make receiving money from diffrent websites across the globe easier to avoid all these third party platforms.

 

[Yugocean]

Some cryptos like Litecoin, Bitcoin cash, XRP, TRX etc have very low or no transaction fees, try to use them and avoid any crypto with high gas price (like Ether), and be sure you are not wasting your hard earned money in the processes of transferring and converting into fiat.

 

[Good-Guy]

This is one of the reasons why many people don't always suggest PayPal as the best gateway to recieve money online. I think these platforms always charge outrageously because there is no regulated bodies that will be monitoring their activites. I even wish if bank can make receiving money from diffrent websites across the globe easier to avoid all these third party platforms.

Well, the big problem is that PayPal has become a monopolistic payment processors. It has gained A LOT of control over online transactions and almost all money making websites, online stores, etc use PayPal and most of them do not even offer any other payment method! This is why people have no choice but to use PayPal despite PayPal having a lot of disadvantages associated with it.