PayPal is raising certain fees at the end of March, making it more costly to sell to buyers located outside of the country, as we reported in the most recent issue of EcommerceBytes 411.
PayPal spokesperson Justin Higgs told EcommerceBytes that PayPal is changing the fee for selling online outside the US from 3.9% to 4.4%.
PayPal also charges an additional 2.5% fee for any currency conversion and a 1% international transaction fee to receive payments from another country. Higgs said PayPal is increasing the currency conversion fee from 2.5% to 3.0%.
That is a 1% higher cost for US sellers for international transactions. Sellers outside the US should check to see how PayPal policy and fee changes affect them.
News of the higher fees was published on the PayPal website on January 30th and was buried in an email about Policy Updates, here's the letter one seller received today.
Dear (Seller name),
- We're updating the list of items that will not be eligible for PayPal Purchase Protection or Seller Protection.
- We're revising the set off rights by removing the 180 day past due requirement.
- We're updating our list of restricted activities.
- We're notifying you of the movement and processing of information to cloud-based service providers.
- We've updated the "Payment Method Used for My Transaction" section to describe changes that give you more control and choice in how you want to pay.
- We're changing some of the fees we charge.
These changes, along with the others detailed on our Policy Updates Page, will become effective March 29, 2017 for all U.S. users. We encourage you to review the Policy Update and familiarize yourself with the changes that are being made. If you do not agree to these amendments, you may close your account before March 29, 2017.
Thank you for being a PayPal customer.
Let us know if you've received notification and what you think of the policy and fee changes.