How to reduce PayPal fees?
Hello everyone.
I'm running an online business and using PayPal for payments. Few years ago they had 2.2% fee for merchants, no matter where the sale is coming from. Then in 2017 they increased the fee to 2.9% and added 0.8% cross border fee for US transactions and 1.0% for international transactions. I'm getting a slight discount and paying 2.6%, but since most of my sales come from US and Europe, my average fee is around 3.4%.
In addition, each time I withdraw money to my bank account, I'm paying around 2.8% Currency Conversion Fee (despite the fact that the official fee is 2.5% and they mention discounts on their website).
That comes to total of over 6% of my sales.
Is there any way to negotiate and lower those fees?
P.S. re posting here as advised by one of the members.
I'm running an online business and using PayPal for payments. Few years ago they had 2.2% fee for merchants, no matter where the sale is coming from. Then in 2017 they increased the fee to 2.9% and added 0.8% cross border fee for US transactions and 1.0% for international transactions. I'm getting a slight discount and paying 2.6%, but since most of my sales come from US and Europe, my average fee is around 3.4%.
In addition, each time I withdraw money to my bank account, I'm paying around 2.8% Currency Conversion Fee (despite the fact that the official fee is 2.5% and they mention discounts on their website).
That comes to total of over 6% of my sales.
Is there any way to negotiate and lower those fees?
P.S. re posting here as advised by one of the members.
Last edited by ak1004 on Feb 5th, 2019 8:56 am, edited 1 time in total.