Paypal Question!

Whippersnapper,
Thanks for the detailed info. I now know why I was asked if I "accepted" the transaction where I was "taxed" for over $6 on a sale. Live and learn...
 
WhitleyStu said:
Whippersnapper,
Thanks for the detailed info. I now know why I was asked if I "accepted" the transaction where I was "taxed" for over $6 on a sale. Live and learn...
Click to expand...
Well, they don't exactly make it easy finding what you want to know Stu, and I didn't even attempt to try to explain foreign exchange fees. As you know, I primarily collect the taboo type of knives, so I limit my dealings to state side exchanges and don't have much experience with those fees.
 
Whippersnapper, thank you for your detailed explanation!

So to summarize,
Sending money is free via either credit/debit card or Paypal Balance.
Receiving money (for personal account) is limited to 5 times WITH FEES within a year period.

If you manage to stay under the limits ($500 per month sending/receiving limits and 5 times card accepting limits), you can stick to personal account for longer time, although you might annoy some buyers by denying their card payments.

Thanks to everyone who participated in this thread.
 
So to summarize,
Sending money is free via either credit/debit card or Paypal Balance.
Receiving money (for personal account) is limited to 5 times WITH FEES within a year period
Click to expand...

-Sending money is free.
-Receiving money is free, if the money comes from someones bank account or out of their paypal funds.
-Yes, you can receive money via CC/debit card a maximum of 5 times in a one year time period and keep your account a personal or basic account. You will be charged 4.9% plus .30 cents for those transactions. After the 5 you are automatically upgraded to a Premier or business account.

I would like to correct something I said earlier about the receive/withdraw limits...
-You can only receive up to 500.00 dollars max every month and still keep it a personal account.
-However, it is possible to withdraw more than 500 in a one month period and remain as a personal account, but you must complete two (2) of these 3 things...

Steps to Lift Your Withdrawal Limit:

Confirm your Social Security Number
Confirm a bank account
Complete your enrollment in the Expanded Use Program
 
One more thing. If you have a personal/basic account and want to find and see this info for yourself, Log into your "My Account" page. Right above the box that has your Account Balance it says [View Limits]. Click there and you will see the things I have tried to explain.
 
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