PayPal Fees

Reamer Fanny

I am scratching my head with this one, I need to work out PayPal fees for a given amount the idea is that the customer will pay the fee but I just can't seem to work it out consistently.

Let's say customer owes me €60 and domestic PayPal fees are 3.4%+€0.35 of that amount, the customer would have to send €62.47 from there account according to this calculator http://www.gregledet.net/ppfcm.html

Now if I work it out manually 60/100*3.4+0.35 it equals 62.39, what am I missing here?

Beano

justryan wrote: »

I am scratching my head with this one, I need to work out PayPal fees for a given amount the idea is that the customer will pay the fee but I just can't seem to work it out consistently.

Let's say customer owes me €60 and domestic PayPal fees are 3.4%+€0.35 of that amount, the customer would have to send €62.47 from there account according to this calculator http://www.gregledet.net/ppfcm.html

Now if I work it out manually 60/100*3.4+0.35 it equals 62.39, what am I missing here?

but they wont be giving you 60 they will be giving you 60 plus the paypal fees.

Reamer Fanny

Nope, ideally on my end I'll receive €60 after PayPal have deducted the fees for processing the transaction.

I found this formula for calculating reverse fees, it seems to be what I am after
http://blogs.planetcloud.co.uk/mygreatdiscovery/post/Reverse-PayPal-fee-calculator-formula.aspx

According to that article the calculation should look like this

(60+0.35)/1-(3.4/100) = Amount to send

Seth Brundle

That online calculator appears to be incorrect.

60 * 3.4% = 2.04
60 + 2.04 + 0.35 = 62.39

Reamer Fanny

Found the solution, the formula should look like

A = (B+C)/(1-D/100)

B = the total we want after fees in this case €60
C = the transaction charge of 0.35
D = the percentage charge 3.4

If the formula is followed correctly you'll end up with 62.47, now to translate this into PHP :rolleyes:

Daegerty

Is there any decent alternative to paypal that doesnt cost as much?

Seth Brundle

Its misleading to claim that the rate is
3.4% + €0.35 EUR (from here)
as it suggests that the 35 cent is added after the 3.4% is applied but is actually applied beforehand

Beano

justryan wrote: »

Nope, ideally on my end I'll receive €60 after PayPal have deducted the fees for processing the transaction.

I found this formula for calculating reverse fees, it seems to be what I am after
http://blogs.planetcloud.co.uk/mygreatdiscovery/post/Reverse-PayPal-fee-calculator-formula.aspx

According to that article the calculation should look like this

(60+0.35)/1-(3.4/100) = Amount to send

you misunderstood me. you assumed that in order for you to get 60 after the fees are deducted that they would have to send 60 + 3.4 + 0.35. i was just pointing out your assumption was incorrect

Reamer Fanny

Ok yes they will send my fee plus an additional PayPal charge, in any case I found the solution to my problem now I have to somehow code this formula into the invoicing software

Beano

Beano wrote: »

you misunderstood me. you assumed that in order for you to get 60 after the fees are deducted that they would have to send 60 + 3.4 + 0.35. i was just pointing out your assumption was incorrect

rereading what i wrote it seems that it made no sense at all. apologies.

bryaner

justryan wrote: »

Found the solution, the formula should look like

A = (B+C)/(1-D/100)

B = the total we want after fees in this case €60
C = the transaction charge of 0.35
D = the percentage charge 3.4

If the formula is followed correctly you'll end up with 62.47, now to translate this into PHP :rolleyes:

Why the :rolleyes:

Edit: Sorry I see now

Reamer Fanny

Working with open source software called Simple Invoices, I've hit a wall now as the code doesn't allow parentheses, I thought I could hack this one together but it seems I'll have to go a little deeper

Edit: It's coded in Smarty http://www.smarty.net/docsv2/en/language.basic.syntax, it's going to be a long night

bryaner

Just stick on 4% sorted..

Reamer Fanny

bryaner wrote: »

Just stick on 4% sorted..

I'm all for quick and easy solutions, care to elaborate?

Reamer Fanny

Problem solved with just 3 lines of code, finished code looks like this

/* PayPal Fees */
$fee1 = $params['amount']+0.35;
$fee2 = 1-3.4/100;
$params['amount']=$fee1/$fee2;