The monetary kind!  This is a short post, after a tiny bit of experimenting (£1 worth), I am now able to accept hire fees (still the princely sum of £5) and deposits (also unchanged at £40) via PayPal.

The caveat is that it be sent using the ‘friends and family’ option, so that neither party incurs fees. I will then return it in the same fashion once the sling has been returned, as per our Terms and Conditions.

So, if you are at a slingmeet, have forgotten your cheque book and happen to have PayPal’s whizzy app on your phone, Bob’s your uncle!

Isn’t the future marvellous !?

Someone has kindly pointed out that there is a lack of Buyer Protection with the PayPal Friends and Family option. I suggest it for refundable deposits because the refund window for fee charging transactions is one month. If a slingmeet is slightly outside that PayPal’s month, PayPal retain the fees (which may have been paid by either the sender or receiver), as I run the library at the lowest rate possible, I cannot afford to pay these fees.

Below is a quote from PayPal on their community page, to clarify:

what is the difference between a purchase and a personal payment for goods? on ‎03-02-2011 04:08 PM

A personal payment is a payment to friends or family, someone you know. There is no buyer or seller protection on these payments because they are not supposed to be purchases.

A purchase is literally that, you are buying something, either from a shop or an individual. You probably don’t know them and, as a result of this, there is going to be a level of risk inherent in making or receiving the payment. Both buyer and seller protection will be available (along with their normal limitations).