After receiving my first payment from Internet Traffic and looking at my Paypal account, I was surprised to see that a Paypal fee had been deducted from the received payment.This is because the parking earnings payment was not send using Paypal Masspay. Paypal Masspay charges a flat fee of $1 to the sender and no fee to the receiver of the payment.
All the parking companies I have used in the past were and are using Paypal Masspay to make parking revenue payments: DomainSponsor, DomainApps (former parked.com), Sedo etc. Sedo also uses Masspay to send payments from domain name sales.
The fee deducted from my earnings was almost 5% that is almost a day and a half of my monthly earnings:
|Amount received:||$252.91 USD|
|Fee amount:||-$12.69 USD|
|Net amount:||$240.22 USD|
I contacted Internet Traffic and asked them why they don’t use Paypal Masspay as all parking companies are using it. I also said that this reduces parking earnings significantly and this is not mentioned in their website.
They replied to me and told me that unfortunately due to their location (they are located in the Cayman Islands) and their Paypal account they are not able to Masspay through Paypal. They said that they would most definitely make their payments this way if they were able to. This is something that they are investigating, but at this time they are not able to Masspay through Paypal.
They suggested that I considered switching to receiving my payments by wire as the bank does not charge for incoming wires. I am certainly considering this but Paypal is very convenient for receiving payments.
I am sure that Frank Schilling will be able to Masspay enabled in his Paypal account. I have seen many people outside US/Europe do this.
I believe a bank wire is more convenient actually. You get your money faster.
Why even have the extra step of PayPal and transferring those funds to your bank?
I don’t ever transfer funds to my bank from Paypal.
I use the money for renewals, purchases etc.
I hope they can enable PayPal Masspay option in future. Currently I have selected wire transfer and was charged around US$10. I think wire is the best option so far because same amount will be charged no matter how big the amount is…
I didn’t mention this in my post but I would rather avoid receiving a wire transfer as long as I can.
I don’t know about the US but the Cayman Islands don’t have the best reputation here in Greece so I would rather avoid questions from my bank or the tax office…
You’re just being overly paranoid 😀 They are only concerned about *outgoing* wires to the Caymans.
Maybe I am but you read the news, you know how it is here…
you think this is bad?
I started parking some names at dns on dec 19th
moved all rest and earned $350 this month so far
all well and good
i ask them when i get paid, expecting them to say as over $100 threshold 1st feb
they pay net 30
ie; after you earn $100 plus they pay b=net 30
so i have to wait until end february or beyond for dec and jan
even godaddy pay out quicker!
is Frank using our parking fees for renewals lol
I complained and said needs reviewing, as this is piss poor
Since when has the threshold been lowered? When I signed up it was minimum $500 to pay out.
As far as I know it’s well over 1 month they have reduced the minimum payout to US$100.
That is good to hear. I wasn’t aware of it.
It was $100 when I wrote my review on the 5th of December.
Whats requirements for opening a paypal account which allows to make mass payments?
I am not sure if I make enough transactions a year to be qualified.
Even considering the 4% transfer fee from a location outside the US, the earnings surpass that of Sedo significantly. And bank wires – at least in the US – have a $20 incoming fee from outside the US. It’s actually cheaper to receive funds via PayPal. Furthermore, the 30-net initial delay is nothing, compared to 45,60 or even 90 days of delay at some PPC companies. Once you start getting payments, that ‘delay’ is just mental. 😉 Overall, I am very pleased with the parking options at Internet Traffic, on top of the sales platform.
Very good post, and replies. This blog is a great service to our industry. A real reporter at work, no holy cows! Keep it up, I’ll keep reading.
Unfortunately the time masspay was $1 is over.
It is now calculated according the send and receiver country and can go up to 4%.
Francois that is what I thought too but this is what I found at Paypal’s website:
The current transaction fee for Mass Payment is 2% per payment, with a maximum of $1.00 per payment. International Mass Payment sent from China and Hong Kong incur a maximum of $50 per payment.
– The maximum was 4% when they changed terms on masspay last year, it looks to be 2% now, annyway we should verify with their pay simulator every pair of country possibilities.
– This sentence of Paypal: “The current transaction fee for Mass Payment is 2% per payment, with a maximum of $1.00 per payment.” that can be found here:
Is FALSE or missleading as it let think one will never pay more than $1 a masspay. I think they confunded maximum with minimum.
Few minutes ago I made another masspay of $2,800 and my maspay fee was $45 and not $1 (so around 1.6% in this specific transaction).
Francois I found this sentence “The current transaction fee for Mass Payment is 2% per payment, with a maximum of $1.00 per payment.” in other pages
of the Paypal website too. Is it possible that they have it all wrong?
I will look into it…
Francois what country did you send the masspay?
This is what I found out:
With Mass Payments, you pay just 2% of the payment amount, capped at $1 per payment.
For Mass Payments to recipients within the U.S., the fee is 2% of total up to $1 per payment. For Mass Payments to recipients outside the U.S., the fee is 2% of total up to a maximum of $20.00 USD per payment, or the foreign currency equivalent of $20.00 USD.
International Mass Payment sent from China and Hong Kong incur a maximum of $50 per payment.
I sent money from France to USA.
As I said this information need to be updated. The time of $1 mass pay is over for +1 year now.
There is a wizard in your Paypal masspay page, you can play with it and see the cost for most countries is 2% of amount sent capped to $45.
I’m very happy with DNS even if in my case receiving a wire isn’t an option. My Bank charges a lot to receive international wires, they will convert currency to euros (and charging a spread) and when I’ll buy services online, 99% in USD, they or my credit card will charge me again for international shopping. Paypal is much better for me.
I also wished that it could be NET15, I can tell you that I was paid NET0 by other companies using Google’s feed, but even so DNS payouts and inquiry system is much better.
Nuno it seems that Portugal and Greece are pretty similar in regards to banks. (and other things)
Banks charge a lot to receive wire transfers and for credit card purchases.
I solved the problem with the convertion to Euro by opening a USD account at my bank.
I then send the USD wire transfers from that account. I don’t convert USD to Euro.
My Bank doesn’t allow me to open an account with USD balance. I went to another Bank that did allow it but their fees weren’t acceptable at that time. Many years ago it wouldn’t be difficult to open a Bank account at the US, but nowadays… not worth the hassle.
That is too bad Nuno.
The reason to be with ITC is not for the parking, it’s for their DNS sales platform. You could do one deal through their platform and the upside over other sales platforms would make you more money than 3 years of parking revenue. I would be with them if they paid me ZERO on parking. The parking is a gift.
“The parking is a gift.”
🙂 what a poor man… I am really sorry, but to say that or you work at DNS or you are …a dumb, sorry but this is the reality. No offense, only facts.
Does the word “sabotage” mean something for you? When you see adv links proposed on premium domains that have nothing to do with the domain what are you thoughts….?
Parking is a gift, yes, but it is a gift from domainers to google and parking platforms (even speaking about the money they earn from google compared to what they give to you…open your eyes, gifter)