"New Changes to PayPal User Agreement" Topic

Just got a message from PayPal. Looks like they are stopping our ability to use the "Family and Friends" option to send money to a business account to avoid the transaction fee. Plus there will be a fee change.

Amendments to the PayPal User Agreement and the PayPal Balance Terms and Conditions

Effective July 28, 2022:

U.S. business accounts will not be able to receive personal transactions from U.S. PayPal accounts.
U.S. PayPal accounts will not be able to send personal transactions to U.S. business accounts.
The rate for the "Send/Receive Money for Goods and Services" payment type will be 2.99% (with no fixed fee). This pricing change will result in fee increases for some transactions.

Thanks. Too bad. I complained before, no point again.

Yeah, Ebay turned in to Amazon lite. Seems like the idea of auctions is dead….

Well it's still up to the seller if they would like to use auctions but it's quicker to list the item with the price you would like to get instead of waiting a week to see if you loose or make money.

I'm not a fan of PayPal but what do you expect? They provide a service which is still free for non-business transactions. If you are using F&F for a business transaction you are technically engaged in theft of service. Furthermore, the only reason to have a business account is so people can pay via their credit cards. If that will never be an issue, then stick with a personal account so you can continue to sell your hobby extras for free.

Sorry to be the Dutch Uncle here, but this is analogous to people getting up in arms when Netflix started cracking down on password sharing.

theres always sending good old cash through the mail

I guess I'm in the minority here, but I always have liked PayPal. I've been using it since it was new. I always thought it was unethical to skirt the fees using friends and family. I'm shocked it took so long to outlaw it officially.

Maybe I misunderstood this. I am not a business, just selling stuff i collected for years. Nothing at a profit so far, actually lower than what I paid. So does this effect non business?

My issue was with the 600 dollar limit that the government changed things to, that once you exceed, you receive a tax form for. Friends and family allowed you to not hit that limit. I understand the trying to tax those using this as a yearly business, but $600 USD!? Also, not like I did not pay taxes when I bought them. I assume most of us selling privately to sell off our collections, never considered keeping receipts for decades of everything we bought. But even if you did, this would require itemizing to show loss. Just a lot of really Unnecessary effort for such a low and arbitrary limit.

1000 dollars added to my taxes isn't going to effect me tax wise. But it might effect medicines and other things when you are on SS. At least in the US. Especially when this is once in a lifetime you are selling.

Am I the only one who feels 600 is ridiculously low? Maybe I am a minority. 🙂