As usual I was expecting a hefty fee from PayPal online bank service when I withdrew some cash from my etoro account, for I had been charged severally for the earnings I always received to my account for the payments from the writing sites I work online for.
The main difference between this transaction and several others is that this latest transaction was a direct receipt while most of the incomes I have ever received to my paypal account were in form of e-checks. For instance, the e-checks from bubblews had been subject to up to 3% of the amount of earnings sent to me by bubblews. I could receive $100 dollars as an e-check in progress, but when it finally reflects in my paypal account, I find it to be $97 dollars, meaning that $3 dollars was charged to the amount of cash received.
I am exploring other ways of making cash online, and I will be comparing to see the differences in the chages in terms of paypal fees when I receive the payments, especially if the paying sites have adopted the direct paypal payment system.
Anyway, it is still unclear to me whether the paying site is exposed to the paypal charges when it uses the direct payment method, and the charges are met by the receiving account when the e-check is sent.
When I received my latest e-check payment from bubblews in my PayPal account, amounting to $50.49 dollars as an e-check in progress, I did not bother to take a look at its status in the PayPal account. As usual I waited for the e-mail notification for when the e-check cleared.
When I received the e-check clearance e-mail from PayPal, I went straight to Equity bank website to try to withdraw all the earnings that were in my PayPal balance, but I was very disappointed when I attempted to withdraw for several times without success, each of the times, I was notified that I had to add another credit card in order to withdraw the stated amount.
It took me a sweaty moment to realize that I was requesting the withdrawal of the amount that was more than all I had in my PayPal account balance, but determined to do so thinking that I was encountering a glitch.
Then the idea struck me, I signed in to my PayPal account in order to confirm the actual balance that was in the account only to get surprise waiting for me. The balance in the account was $49.49 dollars, though it answered the question that was eating into my brain, it also disappointed me for the unexpected increase in PayPal feel.
Before, my online earnings attracted very small fees, mostly some cents that I even never bothered to know how much I was charged to receive the payments. If the larger portion was getting charged to the sender’s account, I did not care as long as a received my income.
It felt bad to have a cut of over $1.5 dollars on the hard earned cash from the source which is never reliable.
Since there is no other online banking system to be relied on especially for the online workers Kenya besides PayPal, I will have to face it as anyone else trying to make a living online and make an extra shilling.