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Does your league use PayPal? (1 Viewer)

NinerK

Footballguy
I wasn't sure what forum to post this in but I know a lot of commissioners hang in the Shark Forum so here goes:

Been having trouble collecting fees the last 2 years so I introduced a No Pay/No Draft rule this year. To make it easier I also opened a PayPal account so owners could prepay. I wasn't sure how the league would react and reviews are still coming in; but when I sent out the Money Request/Invoices, half of my league already had PayPal accounts. This should work out ok, but I was wondering if any commissioners here use/have used PayPal to handle payments?

I obviously left it open for those who wish to pay at the draft ($120). In addition, the payouts are kind of easy because we have a Golf/Watch NFL Playoffs/BBQ at the end of the year. It's those few owners who don't show up that I sometimes don't pay out for a couple of months after the season (mailing checks is the suck). Plus we have 2 out of state owners. PayPal will make it easy and a smooth process to send/receive payments.

Anybody else use PayPal for their leagues?

 
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Two things when using it.

1. There is a fee associated with accepting credit card payments. Either accept that the prize money will be reduced or make them pay extra for the convenience.

2. As I understand it Paypal will shut your account down for receiving payment for fantasy football. I'm not sure if it's because of the gambling factor or if it's because they don't allow peer to peer type transfers. You'll need to break the rules by telling them to say it was for merchandise. Golf Clubs, weedeater, etc.

 
Just started using Paypal for FF this year. Seems like 90% of the league has it and want to pay that way. Have received 3 payments so far w/o any problems. The fee was $1.50 for $40 so I would have them pay extra.

HTH

 
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WTF? Fees involved? It didn't cost me anything to pay out the SB runner up from last year?

So when someone makes a payment there is a fee? Danged PayPal, I need to read the fine print.

Thanks for the feedback; will keep in mind I need to disguise the reason for payment.

 
Two things when using it.1. There is a fee associated with accepting credit card payments. Either accept that the prize money will be reduced or make them pay extra for the convenience.2. As I understand it Paypal will shut your account down for receiving payment for fantasy football. I'm not sure if it's because of the gambling factor or if it's because they don't allow peer to peer type transfers. You'll need to break the rules by telling them to say it was for merchandise. Golf Clubs, weedeater, etc.
You don't have to say it's for anything. I'm using it right now to cash out of Full Tilt. I transfer someone money on FTP, they transfer me money on PP.
 
WTF? Fees involved? It didn't cost me anything to pay out the SB runner up from last year?So when someone makes a payment there is a fee? Danged PayPal, I need to read the fine print.Thanks for the feedback; will keep in mind I need to disguise the reason for payment.
There's only a fee if it's a credit card transaction, and it's charged to the receiver of funds.No need to disguise the transaction, just don't enter anything.
 
WTF? Fees involved? It didn't cost me anything to pay out the SB runner up from last year?So when someone makes a payment there is a fee? Danged PayPal, I need to read the fine print.Thanks for the feedback; will keep in mind I need to disguise the reason for payment.
There's only a fee if it's a credit card transaction, and it's charged to the receiver of funds.No need to disguise the transaction, just don't enter anything.
Correct.
 
Two things when using it.1. There is a fee associated with accepting credit card payments. Either accept that the prize money will be reduced or make them pay extra for the convenience.2. As I understand it Paypal will shut your account down for receiving payment for fantasy football. I'm not sure if it's because of the gambling factor or if it's because they don't allow peer to peer type transfers. You'll need to break the rules by telling them to say it was for merchandise. Golf Clubs, weedeater, etc.
You don't have to say it's for anything. I'm using it right now to cash out of Full Tilt. I transfer someone money on FTP, they transfer me money on PP.
Have you been charged any fees? Like I said, I payed out the SB runner up from 2006 and I didn't incur any fees, and I don't believe the payee did either, he would have mentioned it.Makes sense to charge I guess, except they will be holding some $1,400 dollars for our league for 6 months....Hey Battles, is the fee on the owner payment end or the PayPal receipt end? *ETA* (I see you mentioned it is for the receiving end). I don't recall paying extra when ordering FBG,Trophies or Draft Stands....P.S. anybody know where to get a cheap Draft Stand FAST? J/K
 
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Two things when using it.1. There is a fee associated with accepting credit card payments. Either accept that the prize money will be reduced or make them pay extra for the convenience.2. As I understand it Paypal will shut your account down for receiving payment for fantasy football. I'm not sure if it's because of the gambling factor or if it's because they don't allow peer to peer type transfers. You'll need to break the rules by telling them to say it was for merchandise. Golf Clubs, weedeater, etc.
You don't have to say it's for anything. I'm using it right now to cash out of Full Tilt. I transfer someone money on FTP, they transfer me money on PP.
Have you been charged any fees? Like I said, I payed out the SB runner up from 2006 and I didn't incur any fees, and I don't believe the payee did either, he would have mentioned it.Makes sense to charge I guess, except they will be holding some $1,400 dollars for our league for 6 months....Hey Battles, is the fee on the owner payment end or the PayPal receipt end? *ETA* (I see you mentioned it is for the receiving end). I don't recall paying extra when ordering FBG,Trophies or Draft Stands....P.S. anybody know where to get a cheap Draft Stand FAST? J/K
Did you check ebay?I don't know if the guy in my league paid through CC or bank account but I was charged $1.50 for a $40 payment.
 
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Two things when using it.1. There is a fee associated with accepting credit card payments. Either accept that the prize money will be reduced or make them pay extra for the convenience.2. As I understand it Paypal will shut your account down for receiving payment for fantasy football. I'm not sure if it's because of the gambling factor or if it's because they don't allow peer to peer type transfers. You'll need to break the rules by telling them to say it was for merchandise. Golf Clubs, weedeater, etc.
You don't have to say it's for anything. I'm using it right now to cash out of Full Tilt. I transfer someone money on FTP, they transfer me money on PP.
Have you been charged any fees? Like I said, I payed out the SB runner up from 2006 and I didn't incur any fees, and I don't believe the payee did either, he would have mentioned it.Makes sense to charge I guess, except they will be holding some $1,400 dollars for our league for 6 months....Hey Battles, is the fee on the owner payment end or the PayPal receipt end? *ETA* (I see you mentioned it is for the receiving end). I don't recall paying extra when ordering FBG,Trophies or Draft Stands....P.S. anybody know where to get a cheap Draft Stand FAST? J/K
Did you check ebay?
:cool:
 
There are also fees associated with accepting a lot of money in a 30-day span. So depending on what your individual league entry fee is, the total may put you over the top if everyone pays in the same month. On the lowest Paypal level, you can only receive X amount in a month, but those transactions are fee-free. So you either need to spread out your payments or bump up to the next level, which has no max limit regarding transfers. But then there's a fee with all payments received, so you'll have to have the payees add that into their payment.

 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :popcorn:

 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :popcorn:
Nuckin' Futz!Sounds like I may be in for a lesson with PayPal rules as our draft is in 3 weeks and I just sent out 10 invoices @ $120....
 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :rolleyes:
Even if I did upgrade, it sounds like with the upgrade I will have to pay fees with EACH transaction!
 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :rolleyes:
Nuckin' Futz!Sounds like I may be in for a lesson with PayPal rules as our draft is in 3 weeks and I just sent out 10 invoices @ $120....
I don't think it costs anything to upgrade. By the way, the fee is 2.9%+30 cents per transaction.
 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :unsure:
Nuckin' Futz!Sounds like I may be in for a lesson with PayPal rules as our draft is in 3 weeks and I just sent out 10 invoices @ $120....
I don't think it costs anything to upgrade. By the way, the fee is 2.9%+30 cents per transaction.
Sounds meager enough until you do the math. 12 teams in my league @ $130.00 entry fee per. :rolleyes: Youch.
 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :unsure:
Nuckin' Futz!Sounds like I may be in for a lesson with PayPal rules as our draft is in 3 weeks and I just sent out 10 invoices @ $120....
I don't think it costs anything to upgrade. By the way, the fee is 2.9%+30 cents per transaction.
Sounds meager enough until you do the math. 12 teams in my league @ $130.00 entry fee per. :rolleyes: Youch.
yeah it would add up. I guess the answer is, if they want to pay via Paypal they pay the fee.
 
Correct me if I'm wrong but I believe Pay Pal has a limit to the amount of money you can accept in a given month with the normal accounts. I believe the limit is $500 so you would have to upgrade to a business account. :pickle:
Nuckin' Futz!Sounds like I may be in for a lesson with PayPal rules as our draft is in 3 weeks and I just sent out 10 invoices @ $120....
I don't think it costs anything to upgrade. By the way, the fee is 2.9%+30 cents per transaction.
Sounds meager enough until you do the math. 12 teams in my league @ $130.00 entry fee per. :confused: Youch.
yeah it would add up. I guess the answer is, if they want to pay via Paypal they pay the fee.
I think you're right, so much for my "No Pay/No Draft but Paypal will make it easier to pre-pay" schtick!
 
You can turn your paypal account into a money market account and earn 5% while you hold the money. This will get back more than half of the fees.

 
i accept it, owner has to pay the fees if they choose to pay that way though. most pay cash at the draft though.

we have a rule - if you haven't paid by week 7 - no waivers, no lineup changes, no nothing until you pay.

 
i accept it, owner has to pay the fees if they choose to pay that way though. most pay cash at the draft though.we have a rule - if you haven't paid by week 7 - no waivers, no lineup changes, no nothing until you pay.
We had an owner that didn't pay until after the season last year. I had a rule they had to pay by Week 5 but did not have any "consequences"...this year No Pay/No Draft. Not cool to the other owners or the commish (me in this case) who is fronting the website money.
 
You can turn your paypal account into a money market account and earn 5% while you hold the money. This will get back more than half of the fees.
:unsure: I will check this out.
If anyone knows about this Paypal stuff is Unlucky..he handles hundreds of payments (in or out of account) I bet..I been paying Unlucky a few years now with Paypal...very easy and fast. :no:
Money Market looks ok, minimal risk it sounds like. FYI the fees are now 4.9% + $0.30 with a limit of 5 transactions per 12 months...looks like I will be upgrading.*ETA* The premier business account is 1.9%-2.9% + $0.30 per transaction.

 
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AS stated before..the owners don't have to have a paypal account to pay you using paypal..it can be credit card or bank account payments, but you should state to them if they pay this way (card/bank account) they have to add the small fee your charged.And tell them its safe to use paypal its a secured site and make sure your vertified!

 
AS stated before..the owners don't have to have a paypal account to pay you using paypal..it can be credit card or bank account payments, but you should state to them if they pay this way (card/bank account) they have to add the small fee your charged.And tell them its safe to use paypal its a secured site and make sure your vertified!
Verified is the only way to roll, brotha!The funny thing is, if they add extra $ for the fees, the fees will increase... :rolleyes: Just kidding, I know it won't go up that much but technically the fees will increase. I'm currently upgrading to premier/bus. account.
 
You can turn your paypal account into a money market account and earn 5% while you hold the money. This will get back more than half of the fees.
Thanks for the Money Market suggestion Unlucky; mind if I ask you a few questions about it?Have you used it for a few years?Has the yeild rate changed in that time?If it does change, do you get an alert or do you simply check the rate periodically?If you check the rate where do you check it?I also sent you a PM, but thought others might want to know in this thread....
 
You can turn your paypal account into a money market account and earn 5% while you hold the money. This will get back more than half of the fees.
Thanks for the Money Market suggestion Unlucky; mind if I ask you a few questions about it?Have you used it for a few years?Has the yeild rate changed in that time?If it does change, do you get an alert or do you simply check the rate periodically?If you check the rate where do you check it?I also sent you a PM, but thought others might want to know in this thread....
I have used the money market for years and it has been paying right around 5% the whole time. I had received payments via paypal in the past with no fees, BUT the very first time there was a fee attached I decided never to use paypal again to receive payments for anything. It is a good place to earn 5% every month and to pay for my FBG subscription!
 
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on a premier account a payment of $123.89 should yield you $120

123.89 x -2.9%=-3.59

123.89-3.59=120.30-.30=120.00

 
I obviously left it open for those who wish to pay at the draft ($120).
I mention the problems this can cause in the pinned thread about things your rules should cover to avoid problems.The problem with allowing people to pay at the draft is, what if they don't? They have all the leverage. Are you going to cancel the draft? Probably not. Can you scare up a replacement owner on a few minutes notice? Probably not.So most leagues would end up letting the guy draft. Then the problem can be compounded further if there's a dispute in the league, the fact he still hasn't paid can be used to try to force the decision his way or he can just walk and not be out the cash he never paid you.A much better way to do it is to set the deadline for paying well in advance of the draft. Give yourself time to find a replacement owner for any deadbeats. Then you have the leverage. "Ok, no problem, we'll just find a new owner for your team. If you come up with the money before we find someone you can keep the team, if not, soon as we find someone it's their team. Thanks for playing with us last year." A lot of people will pay up when faced with negative consequences for not paying.
 
Paypal is a ripoff. And God help you if you need to talk to their customer service, which has been, um, outsourced.

 
I obviously left it open for those who wish to pay at the draft ($120).
I mention the problems this can cause in the pinned thread about things your rules should cover to avoid problems.The problem with allowing people to pay at the draft is, what if they don't? They have all the leverage. Are you going to cancel the draft? Probably not. Can you scare up a replacement owner on a few minutes notice? Probably not.So most leagues would end up letting the guy draft. Then the problem can be compounded further if there's a dispute in the league, the fact he still hasn't paid can be used to try to force the decision his way or he can just walk and not be out the cash he never paid you.A much better way to do it is to set the deadline for paying well in advance of the draft. Give yourself time to find a replacement owner for any deadbeats. Then you have the leverage. "Ok, no problem, we'll just find a new owner for your team. If you come up with the money before we find someone you can keep the team, if not, soon as we find someone it's their team. Thanks for playing with us last year." A lot of people will pay up when faced with negative consequences for not paying.
I hear you GregR, and I did read/skim the pinned thread. We do have a few people on a waiting list this year, but I agree that something like a June, July or August 1st deadline is a GREAT IDEA. I will actually implement this next year. :thumbdown:
 
Paypal is a ripoff. And God help you if you need to talk to their customer service, which has been, um, outsourced.
exactly, I tried to find out why I paid a fee to receive money and got some half-canned, polite email reply that didn't answer my question directly.........so now I just request a check or cash for these types of things...I am way too cheap to let them skim money off the top for the convenience of receiving money through their network.
 
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