Latest fee increase | Selling

nvmos007 · 2023-02-04T21:52:13.474000Z

Regarding the latest fee inrease: Example: $20 Sale + $3.50 Shipping = $23.50 + $3.06 (13% HST) = TOTAL: $26.56 FVF = (TOTAL-Shipping) x 13.25% = $3.06HST on FVF = FVF x 13% = $.40FVFS = Shipping x 13.25% = $.46HST on FVFS = FVFS x 13% = $.06MP Fee = $.30HST on MP Fee = MP Fee x 13% = $.04 TOTAL FEES = FVF + HST on FVF + FVFS + HST on FVFS + MP Fee + HST on MP Fee =$3.06 + $.40 + $.46 + $.06 + $.30 + $.04 = $4.26 Total fees as a % of original sale price = $4.26/$20.00 = 21.3% Suggestions:Apply the FVF to the item's sale price only = $2.99 (includes HST). Removes the payment of a fee on a tax collectedRemove the FVFS = ($.52). Never should have been applied. Removes the fee on a zero sum transactionRemove the MP Fee = ($.34). This can be more than covered by the interest earned on funds withheld until transfer to seller's bank account. Revised total fees as a % of original sale price = $2.99/$20.00 = 15%

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