Paypal accts. Personal(free) vs. Business

Walking Man

Walking Man

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As we all know, Paypal doesn't tell us s.h....t.... about their fees and so on. I am getting ready to see a few knives on eBay, and I need to know what the limits are on the personal accounts because they're not listed. I'd like to use Paypal, because it's easier for buyers, but I don't want to pay the fees.
What I really want to know is what the free withdrawal limit is. thanks.
 
As I understand it (for whatever that's worth). if you accept payment from your buyer, and he/she uses a credit card, your status is changed to a business account and you are charged fees. If you specify in your ad, that you will only accept bank funded PayPal payments, then there are no fees charged. But, what do I know - it's PayPal - go figure. BTW If you accept one CC payment, subsequent Bank funded payments are still charged the 3% + transaction fee.

Ken
 
Paypal is up fine, at least for everyone I know, as of last two days. If you're still having trouble, best bet is to update your software.

And on the personal/business. I know there used to be a set amount per month you could do and stay free, be it CC or bank. I think the rule now, and the questions section seems to say the same thing, says that you can stay personal for any amount as long as it's jsut bank transfers, but if someone wants to send you payment with a CC, then you have to have a premier and/or business account.

Unsure on that though, i upgraded a long time ago.
 
Here's the skinny from one who has been thru the Paypal Wringer....

If you have a personal account:
You can transfer $1000 out of it a month
You CANNOT accept money from Credit or Debit accounts
You must have your checking account tied to it
If you make a payment and you don't receive the item, Paypal will attempt to get the money for you but if the seller doesn't have it, YOU LOSE.

If you have a Business account:
You can transfer any amount out of it
You get charged a small flat fee then 3% of the total
You can have a credit card tied to the account. Paypal hates that because if you get ripped off and they can't get your money back you can file a claim with your credit card company and get your money back.

I have had it all. I was forced to upgrade. Hated the fees so changed back. Was forced to upgrade again (in order to transfer out a high dollar payment). Was NOT allowed to go back. Was ripped off and didn't get my money back. Left the account as a Business one and opened a new one with my checking account.

Now, I pay with the Credit account and receive with the Personal account. I avoid selling too much in a month so as not to hit the $1000.

There you go.....
 
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