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Good alternative to PayPal? #3038626
04/30/22 09:59 PM
04/30/22 09:59 PM
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Between Houston & Galveston TX
Satilite73 Offline OP
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I've had PayPal for years, but fees and other issues make it less desirable now.

What's a good alternative now? Venmo?

I'm not a business, just a guy offloading parts online.

Yes, I did a google search, and while reviews are great, hoping I can get some firsthand feedback here.

Thanks! beer


John

Imagine a '73 Satellite Wagon picture here. 😁
Re: Good alternative to PayPal? [Re: Satilite73] #3038689
05/01/22 07:46 AM
05/01/22 07:46 AM
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Mr T2U Offline
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i myself prefer paypal even after the 3 1/2% fee when using the goods and services option.
in my OPINION it's the safest and most secure and secure digital payment system when using the goods and services payment option. i just figure the fees into my selling price.
i regularly read posts on facebook about how someone scammed them using the other online payment methods.
in my OPINION. if the seller won't accept paypal goods and services payments this is the biggest red flag of it being a scam. if they don't accept paypal goods and services method i won't buy from them unless the transaction is done in person.

Last edited by Mr T2U; 05/01/22 07:48 AM.

perception is 90% of reality
Re: Good alternative to PayPal? [Re: Satilite73] #3038702
05/01/22 08:59 AM
05/01/22 08:59 AM
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Nor here, Nor there
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Dart 500 Offline
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Check out cash app, seems to be way better than paypal


Last edited by Dart 500; 05/01/22 09:01 AM.
Re: Good alternative to PayPal? [Re: Dart 500] #3038708
05/01/22 09:40 AM
05/01/22 09:40 AM
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Satilite73 Offline OP
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I didn't realize last night that Venmo is owned by PayPal. Not sure if that's a good thing or a bad thing.

Thanks for the replies so far! beer


John

Imagine a '73 Satellite Wagon picture here. 😁
Re: Good alternative to PayPal? [Re: Satilite73] #3038722
05/01/22 10:26 AM
05/01/22 10:26 AM
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Ontario, Canada
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Stanton Offline
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I hate the Paypal fee structure. Seems to me that for a simple transfer of funds a couple of bucks flat rate fee should be sufficient. Hell, I can instantly send any amount of money to anyone with a Canadian bank account for $1.50 - why does Paypal need a percentage ?!?! Since Ebay dumped them you'd think they'd be doing something to attract business !!

Re: Good alternative to PayPal? [Re: Stanton] #3038751
05/01/22 11:59 AM
05/01/22 11:59 AM
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Pay pal used to be owned by ebay, I used them until my bank took out their fees and there wasn't enough money in the account to pay for what i bought. I lost my info and couldn't get a response from Pay pal and never used them again. If you buying stuff off ebay just use a credit/debit card. That's what i use and never had a problem.

Re: Good alternative to PayPal? [Re: Moparite] #3038774
05/01/22 01:48 PM
05/01/22 01:48 PM
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1972CudaV21 Offline
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All of these apps are monitored by the IRS and issue 1099’s if over $600.00


China is the enemy.
Re: Good alternative to PayPal? [Re: 1972CudaV21] #3038961
05/02/22 12:11 AM
05/02/22 12:11 AM
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The thing that put me off paypal is when their latest agreement update said they're going to start charging a fee if you don't use your account for a year. At least in Canada we've got e-transfer.

Even if you find a good alternate I'd still make paypal available. As a buyer I wouldn't want to have to sign up for some payment system I'd never use again.

Re: Good alternative to PayPal? [Re: 5thAve] #3038977
05/02/22 06:09 AM
05/02/22 06:09 AM
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TB3CUDA Offline
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cashiers check,postal money order.wont take anything else.

Re: Good alternative to PayPal? [Re: TB3CUDA] #3039053
05/02/22 12:08 PM
05/02/22 12:08 PM
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TJP Offline
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Originally Posted by TB3CUDA
cashiers check,postal money order.wont take anything else.

be careful with those as well as they can be forged wink

Re: Good alternative to PayPal? [Re: TJP] #3039056
05/02/22 12:14 PM
05/02/22 12:14 PM
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poorboy Offline
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Don't sell much on line anymore.

When buying, I use Pay Pal as a guest with a credit card. If that doesn't work, I don't need that part. I seldom need anything specific, so usually someone else has whatever part I need. I don't need anything bad enough to jump through someone's hoops just to buy something from them.

Re: Good alternative to PayPal? [Re: poorboy] #3039058
05/02/22 12:21 PM
05/02/22 12:21 PM
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2fast4yourBrain Offline
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If you are selling something over $600 from a private person, you may want to ask the buyer to give you funds in $500 chunks.

Otherwise, you'll be paying taxes.

If you sell something on ebay for >$600, you then are screwed.


Start tracking what you pay for goods so you have a basis for what you paid for the item so that you only get taxed for the difference (zero taxes if sold at a loss obviously).

Re: Good alternative to PayPal? [Re: 2fast4yourBrain] #3039200
05/02/22 09:29 PM
05/02/22 09:29 PM
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TJP Offline
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Originally Posted by 2fast4yourBrain
If you are selling something over $600 from a private person, you may want to ask the buyer to give you funds in $500 chunks.

Otherwise, you'll be paying taxes.

If you sell something on ebay for >$600, you then are screwed.


Start tracking what you pay for goods so you have a basis for what you paid for the item so that you only get taxed for the difference (zero taxes if sold at a loss obviously).


My understanding is that sales totaling more than 600.00 in a calendar year generate a 1099.
Same with any TPO transfers (paypal etc). Unless the money is designated as other than for a purchase IE: repayment for dinner, a gift to a friend.
Please correct me if I am mistaken beer

Re: Good alternative to PayPal? [Re: TJP] #3039258
05/03/22 08:01 AM
05/03/22 08:01 AM
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Rhinodart Offline
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I have been using Zelle for years with no issues until a client tried to pay me this week, he doesn't have a debit card (hard to believe in this day and age) but Zelle WILL NOT work unless you do! I signed up for Venmo last night because he says he uses it all the time but the payment was still not in my account this morning. I never have had an issue with Paypal... twocents


The funny thing about science is that if you change one miniscule parameter you change the entire outcome to the way you want it.

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A-Body's RULE!
Re: Good alternative to PayPal? [Re: 2fast4yourBrain] #3039259
05/03/22 08:03 AM
05/03/22 08:03 AM
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Rhinodart Offline
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Originally Posted by 2fast4yourBrain
If you are selling something over $600 from a private person, you may want to ask the buyer to give you funds in $500 chunks.

Otherwise, you'll be paying taxes.

If you sell something on ebay for >$600, you then are screwed.


Start tracking what you pay for goods so you have a basis for what you paid for the item so that you only get taxed for the difference (zero taxes if sold at a loss obviously).


It doesn't matter anymore, if it is over $600 cumulative FOR THE YEAR you WILL get taxed and sent a 1099 now!


The funny thing about science is that if you change one miniscule parameter you change the entire outcome to the way you want it.

JB Rhinehart, Realist

A-Body's RULE!
Re: Good alternative to PayPal? [Re: Rhinodart] #3039269
05/03/22 08:40 AM
05/03/22 08:40 AM
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Mr T2U Offline
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the biggest reason why i like paypal is the ability to get your $$$ back if you pay with goods and services.
a lot of other payment services don't have this ability.


perception is 90% of reality
Re: Good alternative to PayPal? [Re: Rhinodart] #3039310
05/03/22 10:39 AM
05/03/22 10:39 AM
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crackedback Offline
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Originally Posted by Rhinodart
Originally Posted by 2fast4yourBrain
If you are selling something over $600 from a private person, you may want to ask the buyer to give you funds in $500 chunks.

Otherwise, you'll be paying taxes.

If you sell something on ebay for >$600, you then are screwed.


Start tracking what you pay for goods so you have a basis for what you paid for the item so that you only get taxed for the difference (zero taxes if sold at a loss obviously).


It doesn't matter anymore, if it is over $600 cumulative FOR THE YEAR you WILL get taxed and sent a 1099 now!


Take friends and family is one way to avoid the 1099.

If you can't figure out how to get rid of the income being reported to you in a business type environment. Put it on sch C and hammer away with expenses. Just a bunch more paperwork and effort which sucks. Be creative and aggressive. The sheer number of additional tax forms the IRS will receive from this one reporting change is going to be an avalanche on them. All you money laundering criminals out there... LOL

I thought I saw that venmo was no longer free in some cases. Charging a fee now in similar fashion to paypal.

Last edited by crackedback; 05/03/22 10:41 AM.
Re: Good alternative to PayPal? [Re: crackedback] #3039363
05/03/22 01:03 PM
05/03/22 01:03 PM
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TJP Offline
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Originally Posted by crackedback

Take friends and family is one way to avoid the 1099.

Correct.
But you won't have the get your money back option on a purchase if your not happy
AND
I wonder how long it will be until they figure out they are losing a bunch of $$ because of people using that option and then start charging a flat fee whistling beer

Re: Good alternative to PayPal? [Re: 5thAve] #3039421
05/03/22 03:45 PM
05/03/22 03:45 PM
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roadntrack Offline
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[quote=5thAve]
Quote "The thing that put me off paypal is when their latest agreement update said they're going to start charging a fee if you don't use your account for a year. "

How much is the fee for in-active account?

Last edited by roadntrack; 05/03/22 03:47 PM.

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Re: Good alternative to PayPal? [Re: roadntrack] #3039459
05/03/22 06:32 PM
05/03/22 06:32 PM
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2fast4yourBrain Offline
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https://www.irs.gov/pub/irs-pdf/f8949.pdf

If you get a 1099-k, then fill out that form so that you can specify the cost basis for the goods sold.

What a mess.

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