posted on October 7, 2001 02:43:52 AM
I always thought the deposit fee was 0.5% of the total transaction. Am I wrong?
I recently had a buyer pay me $189.50 for two auctions. The total Billpoint fees were $3.34
for one auction ($119.50) and $2.10 for the other ($70). I was charged a deposit fee of
$0.92 which is exactly 5% of the deposit
minus the billpoint fees ($189.50-$5.44=$184.06)
$184.06-$0.92 meant that my total deposit was
$183.14
Is there a mistake being made? How, exactly does Billpoint calculate the DEPOSIT fees.
posted on October 7, 2001 06:42:30 AM
It's a deposit fee.
They should charge 1/2% of the amount to be deposited, that is, the amount remaining after the ebay fee is deducted.
Of course, the amount actually deposited is not the amount left after deducting ebay fees, since they nibble that 1/2% out of it.
As a result, their total fee (for amounts over $15.00) is $0.35 plus 1.25%
(mathematically it is 1/2% of the ebay fee less than this but that is ordinarily a fraction of a penny).
