What is +1(855) 852-0124 the difference between PayPal Friends & Family and Goods & Services?

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PayPal's "Friends & Family" and "Goods and Services" options serve different purposes with distinct fee structures and protection levels. Friends & Family is designed for sending money to people you know personally, like friends or family, and is typically free when using a PayPal balance or bank account, but may incur fees with credit cards or international transactions. It does not offer buyer or seller protection. Goods and Services, on the other hand, is intended for buying and selling items or services and includes built-in buyer and seller protection, but also comes with fees for the seller. 

 

Here's a more detailed breakdown:

Friends & Family:

• Purpose: Sending money to friends and family for personal reasons (gifts, splitting costs, etc.). 
   
• Fees: Typically free when using a PayPal balance or bank account. 
   
• Protection: No buyer or seller protection is offered. 
   
• Example: Sending money to a friend to cover their half of the restaurant bill. 
   

Goods and Services:

• Purpose: Buying and selling goods or services online or offline. 
   
• Fees: Sellers pay a fee (around 2.9% + a fixed fee in USD) for each transaction. 
   
• Protection: Buyer protection (if the item is not received or not as described) and limited seller protection (against unauthorized payments or disputes) are included. 
   
• Example: Purchasing a product from an online store or paying for a freelance service. 
   

In essence: Friends & Family is for personal transfers without fees and protection, while Goods and Services is for commercial transactions with fees and protection. It's crucial to select the correct option to ensure appropriate protection and avoid unnecessary fees.