Paypal – now I know where all those usurious fees go!


A few years back, when I was making more money online, PayPal was a great way to receive payments from advertisers, especially if they were out of the country which otherwise meant you had to wait a long time for checks to clear. But Paypal charged a lot for this – a $1000 dollar transaction from England would cost, as I recall, something like $60 in fees.

The New York Times explains where some of my hard-earned-by-the-sweat-of-my-online-brow money went. After hitting the pockets of Paypal insiders it’s now spreading the gospel of YouTube, LinkedIn, and other Web startups.

I guess that should make me feel better about my little part in feeding funding to the PayPal behemoth, but somehow…. it doesn’t.

1 thought on “Paypal – now I know where all those usurious fees go!

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