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Should I pay deposit bank transfer or Paypal

Melbourne, Australia
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71 posts
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Should I pay deposit bank transfer or Paypal

I have made an enquiry for an apartment in Paris and have been asked to make a deposit via bank transfer or Paypal. They do not accept credit cards.

Is there any advantage or disadvantage of using bank transfer or Pay Pal. Using either of these is like paying cash . Is that correct.

50% up front is payable with the balance upon arrival.

Thank you all

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Tampa, Florida
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1. Re: Should I pay deposit bank transfer or Paypal

PayPal has an active fraud-recovery unit, as does the credit-card issuer to which your PayPal account is linked, so you have at least a modicum of protection if something should go wrong. Paypal does charge to receive a payment, but it's fairly easy to pay a little extra to cover the shortfall.

with a bank transfer, you'll be charged to *make* the transfer, the landlord/agency will be charged to *receive* the transfer (for which they'll want to be reimbursed -- this is usually more than Paypal charges), and once it''s gone, it's gone. The only recourse you have is if the owner/agent didn't receive it, at which point you launch a timeconsuming trace with your bank.

Columbus, OH
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2. Re: Should I pay deposit bank transfer or Paypal

I just got back from Croatia and actually had an overpayment through Paypal (my fault because I was in Rome when I made the apartment rental payment and did not have prior paperwork with me). I contacted the landlord to request payment return, filed the Paypal paper work, contacted the charge card company (American Express) was was issued a credit in less than a month. Go with Sunshine817 advice.

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Croatia
Croatia
Europe
Rome
Rome
Lazio, Italy
SoCal
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3. Re: Should I pay deposit bank transfer or Paypal

When we stayed in Rome last year, we used a service called Xoom to make the initial and final payments for our apartment. Xoom is essentially a bank transfer service, but their fees are substantially lower than a traditional bank transfer, plus you get regular status reports from Xoom (not available for any standard bank transfer I am aware of unless you work at a bank). Paypal was also an option, but Xoom's fees were lower, and I could use a credit card to make the transfer to the owner's bank account, so I still got that protection. Paypal is certainly the easiest, but if the amount you need to deposit is large, you might want to compare the fees with Xoom.

BTW, if you do use Paypal, it's usually better to pay in the destination currency and use the conversion rate of your credit card, which is usually better than that offered by Paypal (it's easy to check before you decide).

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Rome
Rome
Lazio, Italy
NNJ
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4. Re: Should I pay deposit bank transfer or Paypal

While Paypal is very convenient without fees, it does have a higher exchange rate, which I just learnt from a recent transaction. It ended up costing almost the same as bank transfer fee.

I wasn't given a chance to pay destination currency (it was converted to $$ already). If it does offer that option, you may check your CC's foreign transaction charges, which is often 2-3%. There are, very few, CC's with no charges: Capital One and Hyatt's VISA. So unless you have these CC, Paypal seems a better option.

New Hampshire
Destination Expert
for Paris
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5. Re: Should I pay deposit bank transfer or Paypal

While PayPal does offer fraud protection, to my knowledge that only applies to purchases and businesses who sign up for protection for a fee.

You have to compare fees, exchange rates, and any other charges involved.

Another terrific resource is XE Trade, though it does take some time to establish an account.

Melbourne, Australia
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71 posts
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6. Re: Should I pay deposit bank transfer or Paypal

Thank you all so much. A lot to consider

The amount to be forwarded is small, 270 euros. Will pay with Paypal.

Best wishes to all of you for your kindness

Tampa, Fl
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79 posts
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7. Re: Should I pay deposit bank transfer or Paypal

Just had a bad experience with pay pal. Purchased a tour in France and the vendor gave the same option and I decided because I wanted the security of using my credit card To go with pay pal. When the charge hit my credit card it was 5% higher than the vendor charge using a much higher conversion rate than posted anywhere. When I contacted the credit card company they immediately issued a credit and notified pay pal. Pay pal then contacted me and when I asked about the higher charge they said it was not them but the credit card company. After conversations with many levels of customer service at the card company they assured me that pay pal does the conversion prior to submitting the charge.

I sent another note to pay pal and this time they acknowledged that they determine the conversion rate and the charge was what they deemed appropriate. I have closed my pay pal account and won't use them again.

Next time I will wire transfer

Edited: 13 April 2012, 17:43
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France
France
Europe
8. Re: Should I pay deposit bank transfer or Paypal

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Removed on: 13 April 2012, 18:35
Edited: 13 April 2012, 18:35
9. Re: Should I pay deposit bank transfer or Paypal

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Sydney, Australia
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10. Re: Should I pay deposit bank transfer or Paypal

If you pay an account overseas with a CC you will be charged your bank's CC fees as well as the Paypal fees. Before I got wise to fee free cards for OS transactions it could cost me and the receiver up to 9% all up. These days I use a fee free card and I am usually asked to pay a small additional fee, maybe 2% to cover the Paypal charges. That is fine.

You have no redress via a Bank Transfer so keep that for people you know. My experiences with Bank transfers include the money going through intermediate banks on the way who also charge. It is expensive for small amounts of money. Go Paypal.