A slight change to our fee structure
July 27, 2009 announcements, explanation 4 Comments“Today we’ve changed our fees slightly in order to save you money.” I’m sure you’re used to hearing sentences like that before, but in this case, it’s the truth! Project Wonderful withdrawals now cost $1, and we made this change to save you money.
You can learn the full details here: https://www.projectwonderful.com/whythewithdrawalcharge.php, but the short version is as follows.
PayPal recently changed their fee structure so that fees are charged more often to more people. These fees were significant enough that they could make a noticable impact on the money you earn from us. By using an alternate way to send money through PayPal (the “Mass Payment” system), we can ensure that no fees are applied to your funds, but by doing so PayPal charges us up to $1 per withdrawal. As such, there’s now a $1 charge on each Project Wonderful withdrawal: if you withdraw $100, $99 will arrive in your PayPal account.
The good news is that, in most cases, this $1 fee is actually lower (and sometimes significantly so!) than the fees PayPal would charge to you otherwise. For example, on $100, PayPal would otherwise charge $4.20 in fees, over four times our $1 charge!
We encourage you to check out the (pretty in-depth) explanation of how these fees affect your account, but the bottom line is that with this change, more money is now arriving in the PayPal accounts of most of our members. For withdrawals of less than $20, the new fees are slightly higher, but you can always hold off on withdrawing for a bit until you’re at a level where the new fee structure saves you money.