Sending money via PayPal with the maximum fee of $1

Whether you are sending or receiving money via PayPal you can minimize their extortionate fees to a maximum of $1. So when somebody is about to transfer a large sum of money to your PayPal account you can ask them to use this trick. You simply need to take advantage of their mass pay option. Here is how this is done:

Instead of fiddling with Excel files, how PayPal instructs you to do, you can do this your own way.

1) Open a text pad

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

An example of a payment text file:

example@whatever.com 1800 USD

After uploading the text file to PayPal it should trigger a payment of $1800 to example@whatever.com

Save the textfile as anything you like.

3) Log in to your PayPal account and click on the tiny “mass pay” link at the bottom of the page.

4) Upload your saved text file to PayPal and enter your email address.

Your payment has been sent for only $1. You have just saved yourself $70 or so bucks depending on your account type.

Please note, this trick will only save you fees when you receive money. Therefore you will need to ask the person sending you money to use this trick. Works well with your business partners or relatives. Basically people you know already.

This entry was posted on Sunday, February 8th, 2009 at 5:28 pm and is filed under Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.