Update: 10/27/2013 @ 5:20PM
Dan (from Dan’s Deals) reports that Amazon will not be charging fees for personal accounts (link). Sorry for all the confusion.
Here is a copy of the email Dan received from Amazon:
I apologize for any concerns our annual privacy notice has caused you. The limits of sending and receiving funds via credit card will be staying at $1000.
I can confirm that no service fees are applied from Amazon Payments for sending and receiving the limit of $1,000 per month. Please keep in mind that your credit card issuer can charge you a fee if “cash advance” is selected as a form of payment processing. This would be completely on the side of the credit card, and they would know more about any service fees they apply.
From Amazon Payments no fees will be applied for sending your monthly limit for the foreseeable future.
The e-mail you received is a simple notice informing you about our privacy practices, as well as how you can report errors or unauthorized transactions related to your Amazon Payments account – we’re required by law to send this annual notice to all of our account holders.
Thank’s Dan for the good work.
Amazon Payments will Charge 2.9% + $0.30 per Transaction Starting December 4, 2013
I hate being the bearer of bad news, but it appears that Amazon will begin charging for Amazon Payments starting on December 4, 2013. According to Amazon’s new User Agreement (read here), “Amazon Payments, Inc. Customer Agreement, Updated October 23rd, 2013 and effective December 4, 2013”
Clicking on the Fee Schedule link takes you to this page. It appears that Amazon will mimic PayPal’s credit card fee structure and charge 2.9% plus 30 cents on every transaction more than $10. Volume Discounts are available for merchant’s who receive more than $3,000 per month.
This might be the end of the “good ol’ days” of Amazon Payments. What do you think? Let me know in the comments below.
All good things come to an end – 2 more months!
Shame. Good find though. Keep up the good work.
Don’t panic, this is not the end of the world. Do transactions of 9.99, and everything will be OK.
Amazon will charge 5% for transactions under $10 :(
It does say it applies to all amazon payments products, but I’m hoping it only applies to commercial accounts, or that existing accounts will be grandfathered. If not, I’ll be done with AP.
We will have to wait and see.
I can’t see anything new regarding fees that wasn’t in the old user agreement Compare to google’s cache of the same pages. I think you are looking at fees that apply for non-personal accounts.
Blown out of context. Dan’s Deals just posted an explanation. Personal accounts for $1,000 a month are fee free, even after this date. See his website for an explanation…..this is how rumors get started.
Thank you for the heads up, Mileit. I updated the post to reflect Dan’s post and email.
Grant – I understand you are young an eager, and obviously I read your posts becaise I believe you have ability. But please demonstrate a little patience and verify information before posting. If this was true this would impact strategy for many people. You caused unnecessary stress for those who read this!! Take it as a learning experience and for now i’ll keep reading what you have to say ;-)
Thank you Smay, I realize that I look like a total fool for posting this and will do better in the future. I will try to stick with what I know for the future.
And I’ll continue to read what you say because you are honest.