Paypal questions

Hi,
We have a book ready for publishing but have a few questions:
  • We are expecting sales from the UK and Ireland mainly. I realise there are multiple 'stores' on Lulu and books are printed and shipped locally. When the payments come in, will Lulu convert payments that have been made in Euros into £ before the revenue payment is made and are there any extra fees related to this? Or are the revenue payments made separately in Euro and PayPal does the conversion?
  • Lulu states "Depending on the type of PayPal account you have, PayPal may deduct a service charge for disbursing your Creator Revenues. PayPal determines this fee. Lulu has no control over these fees." Could anyone give me more information about this. Are these fees the same as if you were selling through PayPal ie. PayPal seller fees that vary depending on sales? Or some other fee that I can't find on the PayPal website?
Thanks very much for your help!
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Answers

  • edited April 15
    Hi CityofSanctuary,

    We would convert the Euros to GBP before you are paid. There are no extra fees for us to convert the currency.

    As far as the "extra fees from PayPal", perhaps one of our authors can shed some light on this.

    I haven't heard of any complaints from authors personally regarding these extra fees and I personally don't use PayPal.
  • MaggieMaggie www.custom-book-tique.com Author
    Hello,

    There are fees when you send money or are paid by invoice. No fees when a deposit is made.

    However, Paypal's exchange rate is not as good as Payoneer's. They do have autosweep though so that you don't have to remember to transfer money to your bank. 

    They also have a new feature called Fast Funds where you get the money almost next day.

    Overall, despite the losses, they are useful. 


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