¨*:•.-:¦:- TRADING FAQ's ¨*:•.-:¦:- Please Start Here. Most trading questions answered in this thread.

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Q: Formula checks, what are they worth? Should I be asking what traders do with them?
A: Formula checks very in their trade value depending on who you are trading with and what you are trading for.

When trading formula checks for coupons, each trader determines what is fair to them. Because these are not as readily available as coupons, you can often trade for a higher face value in coupons than the face value of the check.
When trading for paypal, cash, stamps or $ on a gift card, the type of formula check impacts the value of what you will be offered in return by some members.
When looking at posts in the Trades forum, often 25% of the face value and higher is offered.

Should you ask where the checks are going or what the trader will do with them?
That is entirely up to you. They do have your name on them.
Your formula check could pass hands multiple times before being redeemed. If this is not ok with you, make sure it is being traded for personal use.

Some traders trade for formula checks so they can retrade them for the hot coupons they need.
An example of this is, Trader A has a list of HOT coupons. She only needs formula checks in return. Trader B wants the HOT coupons but only has paypal. Trader B may trade paypal for formula checks with Trader C so she can make a trade with Trader A once the checks arrive.

Some members need them for their own personal use to feed their children.

There are certainly other reasons formula checks are traded for.

Hot Coupon World is not responsible for the final destination of any coupon, check etc sent in trade.
It is up to trading members to research where your formula check is going.

[bugface711]

Q: Extra's in trade envies? Why are they in there, do I have to include them?
A: You may receive a trade envelope in the mail and find that there are extra coupons in there that you did not trade for. These are "extras" that the other trader included just in case you are able to use them.

Extra's are ok to include if you wish, but are in no way required and should never be expected. It is a super nice thing to do, and if you are able, you may just make someones day. But, if you are on the receiving end, extra's should only enhance a trade not sour it if there are none.

Important note for trains and potlucks that include extra's.
Often, mods get pm's about coupons that did not follow the rules of the train or trade agreement for a potluck.
The first thing we always ask is, how many coupons were in the envelope. This is because extra's do not have to follow the guidelines of envelope filling. As long as the minimun number of coupons was sent according to what was agreed upon then it is a good envelope.

[bugface711]

Effective 6/3/09 Paypal added changes to their fee structure. These fees now apply to accounts called personal accounts when purchases are made.

Prior to 6/3/09 some members had business accounts that charged fees for all transactions. Biz accounts allowed members to accept credit and debit card payments.
Other members had personal accounts and there were no fees as long as existing funds or direct bank transfers or echecks were used. This is no longer always the case.

These fees are not to be passed along to the other member you are trading with, or winners of auctions here at Hot Coupon World.

For those of you who have yet to do a transaction using the new paypal system here is how it works:

When you go to the send money option, it defaults to a Purchase tab where you select what type of purchase it is. The choices are goods, services & ebay.
ANY purchase is going to generate a fee regardless of how you pay or what type of account the sender and recipient has.

The second tab is called personal and the options are gift, payment owed, cash advance, living expense & other.
If your transaction is "personal" and existing funds are used or if the money is withdrawn directly from your bank, no fees will be charged.

How does this apply to trades?

1. Sellers and traders can specify in trade posts that payments must be personal and existing funds.

2. It has been decided that sellers in auctions and traders that are receiving money CAN ask the buyer/winner to pay all of, 1/2 of, or some portion of the fees associated with them receiving the money.
This must be said up front, either in the auction post, the trade post or at the beginning of trade negotiations. Only actual fees can be charged to winners/buyers. No handling fees, or fees for personal transactions with existing funds. You must specify in your auction post how much the fees are (2.9% plus .30).



What are the fees involved?

As of 6/3/09 (please check paypal for updated information)

For domestic personal transactions:

When payment is funded from a bank account or existing paypal balance there is no fee.

When payment Fully or Partially Funded by PayPal Credit, Debit Card, or Credit Card the fee is 2.9% plus a fixed fee of .30.

For domestic commercial transactions:

When payment is funded from bank account, paypal balance, credit card, paypal credit or debit card the fee is 2.9% plus a fixed fee of .30.


If you have a merchant account (which means you do alot of selling and have a special paypal account)-the fee is based on the dollar amount of the transaction.

Remember these fees are usually charged to the recipient of the funds. To send money is free.

[bugface711]

Q: Formula checks, what are they worth? Should I be asking what traders do with them?
A: Formula checks very in their trade value depending on who you are trading with and what you are trading for.

When trading formula checks for coupons, each trader determines what is fair to them. Because these are not as readily available as coupons, you can often trade for a higher face value in coupons than the face value of the check.
When trading for paypal, cash, stamps or $ on a gift card, the type of formula check impacts the value of what you will be offered in return by some members.
When looking at posts in the Trades forum, often 25% of the face value and higher is offered.

Should you ask where the checks are going or what the trader will do with them?
That is entirely up to you. They do have your name on them.
Your formula check could pass hands multiple times before being redeemed. If this is not ok with you, make sure it is being traded for personal use.

Some traders trade for formula checks so they can retrade them for the hot coupons they need.
An example of this is, Trader A has a list of HOT coupons. She only needs formula checks in return. Trader B wants the HOT coupons but only has paypal. Trader B may trade paypal for formula checks with Trader C so she can make a trade with Trader A once the checks arrive.

Some members need them for their own personal use to feed their children.

There are certainly other reasons formula checks are traded for.

Hot Coupon World is not responsible for the final destination of any coupon, check etc sent in trade.
It is up to trading members to research where your formula check is going.