Paying Mr. Li

[Baxter]

I've sent Mr. Li an order request and the total is $1,608.  When I send him the money by PayPal, do I need to request an amount higher than this to account for the PayPal fees (so net amount he gets is $1,608)  . . . or just request the $1608 and he eats the fees on his end?

By the way -- I'm getting the 500 T with 72 rpm motor, solid drum, exhaust bowl, as well as extra tray, fan, and funnel.

Thanks!

[SusanJoM]

Just pay him what he has asked for.
He knows what he is doing by asking you for a specific amount.

[Baxter]

Got it.  My out of pocket is $1,608  . . . PayPal takes around $60 of that in fees . . . and Mr. Li ends up with $1,548.  I guess that difference is just the "cost of doing business" just like any other merchant pays when accepting a credit card.

Looking forward to getting the roaster.  I'll continue to read on this forum in the mean time as I'm preparing to use it.   I have been challenged by my wife to provide 50 lbs of roasted coffee by the end of May for teacher appreciation gifts -- a tall order for a newbie but I think I can do it given the helpful resources and folks on this forum.

[LTB]

Strange, for me paypal added 75 $ fees. Well, I was paying in euros, obsviously, so that fees must have been the change

Anyway I get to more than 1900 USD.

[edtbjon]

Strange, for me paypal added 75 $ fees. Well, I was paying in euros, obsviously, so that fees must have been the change

Anyway I get to more than 1900 USD.

I don't use Paypal that often, but if memory serves me correctly, I think that if you "buy" something that transaction is charged to the seller, but if you only "transfer money" you have to pay that paypal fee.

[hankua]

The exchange rate in Taiwan fluxuates and is at a @ 4 year high on the US side (Taiwan money NT is down). He keeps things the same regardless, bottom line he's getting more NT on every sale. If you do the math it's quite spectacular 

[LTB]

Hum... I don't understand all you said, Hankua, but what edtbjon said is that transferring money (what i did) I paid the fees that would have pay Mr Li Well, he didn't say yes for that, anyway !

[hankua]

What I'm saying is Mr. Li's currency is NT, just like everyone else over there; in fact you need a special bank account to accept USD. Asian currencies are down to a record low, as far as I can remember it's been fluctuating from @ 28/1 to 32+/1; NT/usd.

Using the above exchange rates if one transfers 1500$ (usd) it could end up between 42,000NT To 48300NT for a difference of 6300NT. 6300/32=196.8 or $196 usd.

The is great for Mr. Li and every other Taiwan exporting business, as either they're products are less expensive or make more money in exchanging foreign currency. (Not sure about the euro/NT)

I'm not making any kind of judgements here, just some background information on the currency exchange. PayPal is the easiest and least expensive way to pay for a Huky, the fees are all on the sellers side.