Paypal ?

D

Dixieblade57

Joined
Jun 20, 2007
Messages
1,361
Does anyone know for sure about this? If I am understanding this correctly, if I have something for sale and they pay me for it using paypal, as long as I have a personal account there is no charge for this service.

Refer to this I pulled off PayPal's site.

With a personal account:
Receive payments funded by PayPal Balance, PayPal Instant Transfer or PayPal eCheck Free

If I am reading this correct as long as I don't use a bussiness name I can accept paypal and they won't charge a commison for handling the funds!

The reason I ask, is I have had some stuff for sale and have been selling it just for cost, so I wouldn't accept paypal because I couldn't afford to loose anything off of the sale and still break even!!!!

I am I correct or just confused????????:confused: Can anyone clarify this for me?
 
I'm pretty sure that's correct. I am a premium user, so it charges about $1 per $25 that I receive, which is not a big deal for me.
 
Dixieblade57 said:
Does anyone know for sure about this? If I am understanding this correctly, if I have something for sale and they pay me for it using paypal, as long as I have a personal account there is no charge for this service.

Refer to this I pulled off PayPal's site.

With a personal account:
Receive payments funded by PayPal Balance, PayPal Instant Transfer or PayPal eCheck Free

If I am reading this correct as long as I don't use a bussiness name I can accept paypal and they won't charge a commison for handling the funds!

The reason I ask, is I have had some stuff for sale and have been selling it just for cost, so I wouldn't accept paypal because I couldn't afford to loose anything off of the sale and still break even!!!!

I am I correct or just confused????????:confused: Can anyone clarify this for me?
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However, IF they funded your payment with a credit card, you would get hit with the percentage. On big ticket items, I actually prefer the E-check, it takes 3 or 4 days to clear, but no fees.

Just what I have learned,
Jim
 
If they pay you with a Paypal balance transfer it is free. If they pay you with Paypal through a linked creditcard or debit card, Paypal will charge you something like 5.6% if you only have a personal account and you accept the payment.
 
James Todd said:
However, IF they funded your payment with a credit card, you would get hit with the percentage. On big ticket items, I actually prefer the E-check, it takes 3 or 4 days to clear, but no fees.

Just what I have learned,
Jim
Click to expand...

OK Jim, now you got my curisosty up, explain the "E-Check"? As you can tell I am not a computer nerd!
 
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OK, that's what I thought as long as they don't use a credit card it would be free! So guess if I do allow it I want to specify I don't accept credit card or I will have to inflate the price enough to cover it. Kind of sucks cause if you are one of those who sends direct payment you'll have to pay the over inflated price to cover it. Now I know why so many don't like Paypal!!!!!!!
 
Every payment that I get thru paypal costs me money :grumpy:. I think that it is about 3%. I feel kind of bad passing the cost to the buyer for some reason... I may have to get over that....
 
My understanding is that for PayPal basic members only direct transfers from a payers checking acct to their PP acct. are free and that e-checks and credit cards payments are not. I believe the number of free transactions for basic members may be limited to a certain # per month as well.

As usual, I could be completely wrong about that though.

Hey - maybe THAT should be my new sig line! :confused::D
 
Honestly, just be upfront, 4% surcharge for using paypal, or the like. A lot of people will pay the extra for the speed / convenience of being able to use paypal to pay with a creditcard or the like rather than sending a check via snail mail, waiting for it to clear, etc.
 
I ran a photo business back in the 80's and had to accept credit cards in order to survive. If I recall correctly, the bank that I had my account with was charging 3 to 4 percent back then.

You can bet your fanny that any time you pay via credit card at Wally World, or wherever, they have the "costs of business" included in the price.

I accept PayPal because it cuts down on having to wait for a check to clear. It really sux to have someone pay you a hundred bucks, and PayPal siphons off their share first.

Business is business. Ya just have to remember that everybody gets a piece of the pie.

Robert
 
A basic Paypal account will not charge you any fees but you can not take in more than $500 in a month and you can only accept a minimal amount of credit card transactions.

Having a Premium account will cost you $.30 + 2.9% of every sale. This allows you to take in up to $3000 a month and accept all forums of payment including credit card payments.

If you take in over $3000 a month it is 2.5% of sale.

It kind of sucks but that's the way it is. If you owned a business and accepted credit cards, they would be taking 3-4% of your sales. Just work it into your price if possible.
 
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jll346 said:
A basic Paypal account will not charge you any fees but you can not take in more than $500 in a month and you can not accept payment from someone using a credit card.

Having a Premium account will cost you $.30 + 2.9% of every sale. This allows you to take in up to $3000 a month and accept all forums of payment including credit card payments.

If you take in over $3000 a month it is 2.5% of sale.

It kind of sucks but that's the way it is. If you owned a business and accepted credit cards, they would be taking 3-4% of your sales. Just work it into your price if possible.
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Correct, except that you CAN accept credit card payments with a basic account, but they charge you for it.
 
I like the premier account. As long as you keep your paypal account secure (NEVER EVER EVER EVER EVER enter your username and password ANYWHERE except the paypal homepage or a paypal payment from a website such as Tracy's and ALWAYS know the url- just READ it) and have a good long password that won't give in to a dictionary attack (my shortest PP password over the past couple years has been 14 characters)- you have:

"protection" which is a bit hard to understand but can be useful in rare instances

you can generate one time use credit card numbers for making online orders (!!!!!!!!!!!!!!!!!!!!!) so you NEVER have to expose your actual debit card number.

print address labels directly from paypal.

get a pretty decent interest rate.

I have a basic assumption that it's gonna cost me $10 to sell a knife- paypal fees, gas to go to the bank, USPS priority mail, insurance, whatever. And if the knife is expensive (for me that's like a $300 knife) and costs a bit more to process, I'm cool.

Of course, I'm poor. I should probably figure that at $15.
 
eminart said:
Correct, except that you CAN accept credit card payments with a basic account, but they charge you for it.
Click to expand...

I corrected that, thanks. You can accept them but a VERY LIMITED AMOUNT OF TRANSACTIONS.
 
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Dixieblade57 said:
OK Jim, now you got my curisosty up, explain the "E-Check"? As you can tell I am not a computer nerd!
Click to expand...

Heck if I know, all I do know is that some one paid me 5,500.00 for a piece of equipment with a PP E-check, it showed in my account as pending then in four or five days, the money was in my PP account with no fees deducted. I did not receive any paperwork or do anything but wait on clearing then I shipped the equipment. Nice not to have fees deducted on that size transaction. I have never paid with an E-Check so I do not know what happens on the paying end. I suspect that PP prints a check drawn on your bank account and deposits it into their account, when it clears they give you the money. Just my thoughts, someone may know the real story on the paying end.
Jim
 
James Todd said:
Heck if I know, all I do know is that some one paid me 5,500.00 for a piece of equipment with a PP E-check, it showed in my account as pending then in four or five days, the money was in my PP account with no fees deducted. I did not receive any paperwork or do anything but wait on clearing then I shipped the equipment. Nice not to have fees deducted on that size transaction. I have never paid with an E-Check so I do not know what happens on the paying end. I suspect that PP prints a check drawn on your bank account and deposits it into their account, when it clears they give you the money. Just my thoughts, someone may know the real story on the paying end.
Jim
Click to expand...

e-check is a paypal payment made with funds from your attached bank account (savings or checking)
 
Not sure if it applies to paypal or not, but with a local business I found out if you pay with your dept card then it does not cost the business any fees. If you pay with Credit Card they have to pay a % of the transaction.
 
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