As if the social media giant doesn’t get enough of our time and eyes, they started a Marketplace a few years ago that was free to users for the most part. The simplicity and captive audience made it an instant hit for users. Craigslist, Ebay, Amazon, and most other popular selling sites have had a fee structure in place for years. It was just a matter of time before Facebook did the same.
The new selling fee structure was planned for January 2021 but has been pushed out for all orders marked as shipped through 11:59 Pacific Time June 30th, 2021. This fee structure is just another savvy way to slide under the radar yet get your hard-earned nickel and dimes.
Understanding the Seller Fees
Facebook will charge a selling fee of 5% per shipment, or a flat fee of $0.40 for shipments of $8.00 or less. When the seller makes a sale, the selling fee is deducted from the seller’s payout automatically.
- For example, if a shipment is $10.00 USD, a selling fee of $0.50 USD is deducted. If a shipment is $5.00 USD, a selling fee of $0.40 USD is deducted. As a seller, minimizing your cost/sale is best accomplished by exceeding a shipment value of $8.00 USD each time.
This will complicate some listings that are “miscellaneous” or “ala-carte”. For example, a listing for $1 (that is not actually $1 and only done to attract hits) that encompasses a host of items with separate prices for each item. Sellers will have to be more specific to match a price to an item and create a separate listing for each item. This is likely to take a lot more time to create listings and weed out some sellers. On the positive side, for buyers it should weed out some of the “garbage” listing and provide a marketplace of more serious sellers.
For Buyers, there will be a chargeback process. This will put a hold on the transaction amount to the Seller until it is resolved. If a customer files a chargeback, we’ll place a hold on the transaction amount until the chargeback is resolved.
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The FCC is tracking hundreds of companies that have already pledged COVID-19 support to help consumers. This pledge includes to:
- not terminate service to any residential or small business customers because of their inability to pay their bills due to the disruptions caused by the coronavirus pandemic;
- waive any late fees that any residential or small business customers incur because of their economic circumstances related to the coronavirus pandemic; and
- open its Wi-Fi hotspots to any American who needs them.
Click below to see a list of companies and actions above and beyond the pledge.
Reoccurring subscriptions can be a sneaky monetizing approach for companies to continue siphoning your money when you no longer need the service. You most likely signed up for it but in reality you no longer use the subscription or you can get by with a lower level package.
These types of subscriptions are popular since people often forget to cancel before the next charge. Then it becomes a battle to get a refund. Or it’s too much of a hassle and cancelling gets put off yet again…then another charge occurs until your boiling point is reached.
Threaten to cancel
SiriusXM® usually offers attractive retention options for longer term loyal customers that are looking to cancel. Of course they don’t make cancelling easy. You need to speak to someone via the Chat Room (after you login) or over the phone…both of which can have lengthy wait times. If you want to reduce your monthly fees and still hang on to some or all of the features, contact them and request to cancel and see what they offer you. Just be prepared to cancel with no offer as the worst case scenario….but this isn’t likely.
SiriusXM® also has an option that allows you to suspend your account and save some money. This link contains the following bullet points:
- You can temporarily suspend your subscription one time in any calendar year for a duration of up to six months.
- A suspended subscription will be automatically reactivated on either the date requested or the six-month anniversary of the suspension request; whichever date is earlier. If you requested a service suspension while in a promotional period, this suspension will not change the end date of your promotional period.
- Suspensions cannot be done online. You will need to call 1 (866) 635-5027.