New PayPal fees and raising prices
Added 2020-12-28 22:00:03 +0000 UTCHey guys!
I have some bad news for you, unfortunately. PayPal is setting up new fees and changing the way I get paid on Gumroad, resulting in me losing a lot more cash to PayPal.
So far, I got paid once per week by Gumroad to my PayPal account. There was a small fee for receiving the money and no fee when withdrawing the money from PayPal. Plus the sale fee to Gumroad, of course (which I find reasonable). Since January 1st, the cash will go directly to my PayPal account every time someone makes a purchase, and there will always be a fee of 0.30USD+3% from the total amount. That will result in me losing a lot of funds to PayPal. On top of that, there is a 0.30USD+3% fee for withdrawing the money to my bank account.
I'll be raising the prices of all my Gumroad stories by 1USD to make up for these ridiculous changes.
At the same time, I'll be looking into alternate ways to offer you my stories at a better price. Hopefully, it won't take long, and I'll be able to take the price back to normal. Gumroad is also looking for alternate payment providers. I believe it won't take long, but I'd like to give you a heads up.
Please do try to avoid using PayPal whenever possible.
Sorry for the inconvenience,
JH4
