paypal question

[Popeye]

From what I understand if I receive money through paypal I have to pay a fee? Is this correct? I tried to use an online gift certificate at Tackle warehouse and use Paypal to pay the balance. Between their site and the Paypay site the gift certificate doesn't get honored. I was told to use a credit card or use paypal and get charged the full amount and then they would credit my paypal account the $25.00 gift certificate.

 

[russ010]

It doesn't charge you as long as you leave what they send you in PayPal... as soon as you transfer it into your bank account it takes a percentage of it.

 

[Jim]

If someone sends me money through paypal, they always knock off a percentage (3-4%). :x

 

[BassAddict]

True on what Jim says, if I charge someone $24.30 I receive $23.30 after paypal takes their cut. Not sure what percentage this is but maybe one of you math gurus can chime in!

 

[redbug]

I have been seeing more and more people selling things saying (IF using Paypal add 3%) I am sure it won't be long before they start charging extra for a credit card like the gas stations do

 

[DocWatson]

True on what Jim says, if I charge someone $24.30 I receive $23.30 after paypal takes their cut. Not sure what percentage this is but maybe one of you math gurus can chime in!

One percent is .243 cents, so they are taking a bit more than 4.1% if they take a dollar from that transaction.

.243
4.1 ×
---------
0.9963 =

 

[ShadowWalker]

If they "Refund" the $25 you will not get charged.

There is an option for them to refund all, or just a portion of what you paid.

Also, I have never been charged to transfer my money to my bank account. I used to sell on ebay all the time and never got charged for the transfer. Charged for being paid by paypal, yes. To transfer the money out, no.

 

[Popeye]

Not gonna screw with the refund issue, I just put it on Ahab's credit card. Thanks Dave. You're a cool dude. 8)
I ordered a Clarus spinning rod for Lake Michigan perching

 

[russ010]

hmm... wonder why I'm not getting charged? I have sold a few high dollar things on ebay, and I didn't get charged for them paying by paypal...

I looked at Tiffany's paypal, and she hasn't had anything taken out of her incoming payments for jewelry either..

 

[Popeye]

I'm not sure. I've never received any payment via Paypal. I've heard on another site where the guy was selling raffle tickets and that Paypal kept some of the money. You figure Paypal has to make money somehow. I'm gonna re-read their account information. But in the mean time I just went with the credit card for this transaction.

 

[Waterwings]

Dang, I must be asleep at the wheel! Just noticed you changed your name! 8-[

 

[DocWatson]

From here.....

"When you sign up for a PayPal account, you can choose from among three account options: Personal, Premier, and Business. Transactions with a Personal account are free, but you'll need a Premier or Business account to accept debit or credit card payments, for which you'll pay a small fee. Opening a PayPal account and withdrawing money to a U.S. bank account are free.

Personal: Personal accounts are meant for use by individuals. With a Personal account, you can send and receive money for free, but you cannot receive payments funded by debit or credit cards. (Note: Members located outside the U.S. will pay a one-time fee before they can send money.)

Premier and Business: To accept debit or credit card payments through your web site, sign up for a Premier or Business account. A Premier account is ideal for an individual seller with high volume, while Business accounts are reserved for businesses; both include the same flexible features. With a Premier or Business account, you can accept debit and credit card payments for a small fee per transaction.

Note: PayPal fees apply only to completed transactions. PayPal does not charge setup, gateway, or monthly fees to maintain an account.

For the most up-to-date information about PayPal accounts and fees, please see PayPal's account and fee documentation and complete fee schedule.

Please note: The PayPal Buy Now and Donations buttons and PayPal's payment services are provided by PayPal, not by Yahoo! Inc. This help page is provided for informational purposes only, and Yahoo! does not represent or warrant the accuracy or reliability of the information contained herein. Please consult the PayPal web site for all applicable PayPal terms, conditions, and fees associated with your use of PayPal's Buy Now or Donations buttons and services."

 

[redbug]

let ME see if I understand this I am going to be selling some crystal and other things on ebay so I need to set up an account.
With the personal account I can receive money from someone who has a payppal account that uses a checking account to fund their account
but if they use a Credit/debit card to fund the account i need the Premier and Business account? is this correct

Thanks Wayne

 

[BassAddict]

If I remember correctly a Personal account can accept 5 credit card transactions a year, I ran into this trouble when I first started but I believe upgrading to the premiere account was free.

 

[ShadowWalker]

Thats why, I have a premier account. I didn't even think about that.