Paypal question

[fraserhutch]

Could someone experienced with using paypal please correct me if my understanding is incorrect here?

Payments between two individuals incur no fees if the buyer is using funds in from a verified account

Payments between two individuals incur 4.9% fees if the buyer is paying through a credit card. I assume that this is though his/her paypal account? And that the seller incurs these fees.

Could anyone elaborate?

Thanks!

 

[mshilarious]

Could someone experienced with using paypal please correct me if my understanding is incorrect here?

Payments between two individuals incur no fees if the buyer is using funds in from a verified account

Payments between two individuals incur 4.9% fees if the buyer is paying through a credit card. I assume that this is though his/her paypal account? And that the seller incurs these fees.

Could anyone elaborate?

Thanks!

Not necessarily.

There is no fee for sending Paypal to Paypal account IF the recipient has a personal account. Personal accounts are VERY limited in how they can receive credit card payments:

https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees

Once you upgrade to a premier or business account, you pay a fee on every incoming transaction, whether eCheck, credit card, or Paypal transfer.

Paypal takes the fee from the payment received by the seller.

 

[valverec]

The fee is more like 3%. I believe it's actually 30cents no matter what, plus 2.9% or 3% or something like that. It's more for international transactions, at 4%...I believe. It's definitely not 5%.

 

[misscc803]

If you have a business or premier account the charge is 2.9% + $0.30. They have a chart on their website explaining all the fees.

Nicole

 

[fraserhutch]

Thanks for the info all. I did read their page, but was a little confused as to the wording in their fees page:

Under Presonal Account:
Receive payments funded by Credit Card, Debit Card or Buyer Credit

4.9% + $0.30 USD (limit of 5 transactions per 12 month period)**

4.9% plus $0.30 USD for card payments received using PayPal on Skype

It does not indicate whether the buyer using a credit card is using a personal account. So am I safe to assume that if the buyer buying something from me is using a verified personal account I will nto incur any fees?

 

[mshilarious]

Thanks for the info all. I did read their page, but was a little confused as to the wording in their fees page:

Under Presonal Account:
Receive payments funded by Credit Card, Debit Card or Buyer Credit

4.9% + $0.30 USD (limit of 5 transactions per 12 month period)**

4.9% plus $0.30 USD for card payments received using PayPal on Skype

It does not indicate whether the buyer using a credit card is using a personal account. So am I safe to assume that if the buyer buying something from me is using a verified personal account I will nto incur any fees?

It doesn't matter what kind of account the buyer has, just the seller. A buyer doesn't even have to have an account to send you a credit card payment, but you would pay a fee in that case. But a buyer with any type of account could send you a Paypal transfer, and if you have a personal account, there is no fee.

 

[fraserhutch]

well, I am trying to complete a transaction with another buyer now, who is NOT using a credit card, and PayPal wants to charge me $36 for a $1200 transaction. Something about a $500 a month limit?

I didn't see anywhere in the fee schedule anything that mentions this.


This is exactly what I hate about paypal. So I went to investigate getting a premier account, and nowhere could I find information as what it costs.

 

[mshilarious]

well, I am trying to complete a transaction with another buyer now, who is NOT using a credit card, and PayPal wants to charge me $36 for a $1200 transaction. Something about a $500 a month limit?

I didn't see anywhere in the fee schedule anything that mentions this.


This is exactly what I hate about paypal. So I went to investigate getting a premier account, and nowhere could I find information as what it costs.

I didn't see that on the fee schedule either, but after digging a bit, it seems that personal accounts have a $500 per month limit on receiving cash (for goods or auction items, it says).

It doesn't cost anything to upgrade to a premier account, it's just that you'll pay a fee on every incoming transaction after that. The $36 is the normal $0.30 + 2.9% fee for premier accounts.