Hello all - not sure whether you've seen this thread over in CG ( https://www.cgccomics.com/boards/topic/449612-paypal-will-no-longer-refund-processing-fees-when-you-refund-a-transaction/ ). It didn't sound right to me at first, but after Googling around a bit, it seems to ring true - the upshot is that PayPal will soon (in May) stop returning the variable fees to sellers when sellers issue a refund to buyers. I haven't had coffee yet today, so it took me awhile to get my head around the situation, but if I understand correctly, things will go like this (for example):
Let's say that I have $100 in my PayPal account to start with; then, I sell a $1,000 book to someone and they pay me using PayPal - after the 3% (rounded) transaction fee, I receive net $970 from the buyer, which brings my PayPal balance to $1,070. Then the buyer returns the book for a refund - I hit the "issue refund" button on PayPal - the buyer receives their $1,000 back, and $1,000 is deducted from my PayPal account, taking my PayPal balance down to $70 - i.e., $30 lower than it was before I entered into this transaction! Of course, under the old PayPal policy, PayPal would only deduct $970 from my PayPal account, and kick back the other $30 to the buyer from the fee that PayPal originally deducted (therefore restoring my PayPal balance to the original $100 balance that existed before this transaction took place). This sounds crazy as hell, but it indeed sounds like what's about to start happening.
***In that thread in CG, as well as out there in various places on the internet, people are discussing how this will affect eBay transactions, etc. I'm posting this here because I think it's worth discussing how this will affect sales threads here on the boards, and what new sales thread rules/norms may need to arise in response. No returns accepted? PayPal no longer accepted? Returns accepted but with a 3% "restocking fee" if you pay with PayPal ? How will you amend YOUR sales thread rules? What will I do in my sales threads?