Save enormous amounts of fees on paypal!

If you're like me, you probably use Paypal to process your online payments. We all know that Paypal can sometimes be a monopoly about stuff.

There are certainly alternatives, like Google Checkout, Alertpay, Stormpay, Moneybookers, E-gold etc. but Paypal is still considered by many as the leading payment processor in the market.

For those of us that rely on Paypal for our sales, we all know how much Paypal cut from received payments.

This has bothered me alot for a long time, esp when I have large sums of money coming through. Paypal must have earned thousands from me some months. That's alot of money to just be 'gone' - which I could use to buy a new laptop or pay some bills, or even to just donate to charity!!

Well, I've just found a new way to avoid these high fees.

This method was originally by pcproffenno, which I have adapted and simplified. And it's completely legal!!

No matter how large the payment, my loss is only $1!

So even if I had to pay $5k for an item, the cut will be just $1. I still keep paying my fees for the small amounts though, as I think PayPal deserves getting some commission.

So how is it done?

Well, you may have heard of a paypal feature called "Mass Pay". It only costs $1 in fees, instead of the usual 4%.

Here's a pretty simple and quick guide on how to use mass pay with your paypal balance. Anyone can do it, with premier and business accounts. Those with personal accouns don't need to since sending money with personal accounts is free anyway....

THE METHOD

According to PayPal's mass pay instructions, you are supposed to create an Excel file with the payment information and save the file as a text file with tab separated values. I believe there is a much easier way to
do it:

1. Open up notepad (or any text/ascii editor)

2. Type the following information, separated by tabs (use tab key, not spaces).

An example of a payment text file:

payment@domain.com $1000 USD

This textfile will, when uploaded to PayPal, process a payment of $1000 US Dollars to the PayPal address payment@domain.com

Save the textfile as anything you'd like, just try to remember where you saved it for later!

3. Log in to your PayPal account the usual way, but instead of sending a payment the regular way, look for the small link on the bottom of your screen that says "Mass Pay".

4 Browse to find the text file you just created in notepad and upload it to PayPal as directed. Type in the e-mail address you want the receipt to be sent to and perform the payment by clicking the button.

Voila! The PayPal recipient has now received his/hers payment and it only cost you $1 in fees, instead of 4%!!!

Good luck with mass pay payments, it has saved me plenty of money esp with deals involving adding the 4% fee to the final sales price!

yesterday - tomorrow

Writing after a very long time.. why? cause i forgot i even had a blog....

Holocaust( dont know if i spelled it right) was the day when the world population got decreased by six million jews..or as hitler called it, " taking out the trash"..

Ive actually heard ppl say, " if hittler was a muslim. he would have gone to heaven "...

well i thank god he wasnt.. itts not as if osama hasnt done enough to make us all look like lex luthers witth beards...

i dont even know wht im writing.. i nneed sleeep
tata!