Many organizations award professional players with a check instead of cash. If you had the option, would you prefer your prize winnings to be remitted via PayPal? We think touring players might like the PayPal option versus the hassle of trying to cash an out-of-town/state check, associated check cashing fees, etc.

This is an idea we are kicking around for future events in Pittsburgh. The PayPal option would be just that....an option. The idea is that funds would be remitted to a player's PayPal account within 24 hours of the event.

What's your opinion on this idea?

Personally I think that players would usually prefer the check to avoid the paypal fees, but I can certainly see some players opting for paypal, for the reasons you described. I think it's a good idea and I am curious to see how often it gets used.

Cash.

I was looking for that option on the poll, but didn't see it.

Personally I think that players would usually prefer the check to avoid the paypal fees, but I can certainly see some players opting for paypal, for the reasons you described.

Players would not incur any fees if they chose the PayPal option. The TD would simply send money directly to their PayPal account.

Since many players already use PayPal to remit tournament entry fees, it might be beneficial for those individuals to receive their prize winnings electronically. Especially touring players who may be on the road for days or weeks at a time.

That's not necessarily true. Since my Paypal account is a merchant account, I pay whenever someone sends me money.

Even non-merchant accounts are charged a fee for receiving money from someone as far as i know. I have always had fees deducted when people send me money for events , etc.. The sender isn't charged anything.

Even non-merchant accounts are charged a fee for receiving money from someone as far as i know. I have always had fees deducted when people send me money for events , etc.. The sender isn't charged anything.

You are incorrect, Rich. Below is info copied directly from PayPal's web site:


What are the fees for PayPal accounts?


<dl class="dataSet"><dt class="label"> <label> Question : </label> </dt><dt class="label"> <label> Answer : </label> </dt><dd> Opening an account:

There's no charge to open a PayPal account and to transfer money from your bank account to your PayPal account.

Sending money � Personal payments:

It's free within the U.S. to send money to family and friends when you use your PayPal balance or bank account and you send the money through the PayPal website.

There is a fee to send money as a personal payment using a debit card or credit card. The fee in the U.S. is 2.9% plus $0.30 USD of the amount you send. For example, if you send $100.00 USD by credit card, the fee would be $3.20 USD ($2.90 + $0.30). For personal payments, the sender can pay the fee or pass it on to the recipient.

Receiving money � Personal payments:

It's free to receive money from friends or family in the U.S. when they send the money from the PayPal website using their PayPal balance or their bank account.

If you receive a personal payment made from a debit card or credit card, the sender has the option to pay the fee or pass it on to you.

If the fee is passed to you, it is 2.9% plus $0.30 USD of the amount you receive. For example, if you are sent $100.00 USD by credit card, the fee would be $3.20 USD ($2.90 + $0.30).

There is a fee if you click Request Money on the PayPal website and request money from friends and family.

Goods and services � Purchase payments:

There�s no fee to use PayPal to purchase goods or services. However, if you receive money for goods or services (such as from selling an item on eBay), the fee for each transaction is 2.9% plus $0.30 USD of the amount you receive.

International payments:

There is a fee when you send a payment to someone in another country or if you receive a payment from someone in another country. Please note that exchange rate fees also apply. The Fees section of the PayPay User Agreement has specific information. You can find the User Agreement by clicking Legal Agreements at the bottom of any PayPal page.

Withdrawing money:

You can withdraw money from your PayPal account to your bank account at no cost. If you prefer to receive a check, there is a $1.50 fee. </dd></dl>

Cash is great, but making a TD carry around $5000 plus is not always a great option.

I like the paypal idea. Especially since I have a paypal debit card.