PayPal Fee's

[Ice Tea]

I recently sent my new bestes friend -Mike- my first ever PayPal
payment of £45 and the full amount turned up in his account yet i
see that people are always asking for extra cash to cover PayPal
fee's in the sales section ?

Anybody care to explain

Thanks

 

[Wrathamon]

If he has only a personal account there are no fees, but he can only receive money from cleared funds from the sender and not payments funded by debit or credit cards.

Premier accounts and business accounts have fees of 3.4% + 20p applied. (Although smaller fees for business accounts with lots of cashflow)

 

[Berserker]

Personal accounts don't incur fees. Just try to accept a credit card funded payment on one though.

 

[Kol]

Hmm, that's strange. If you sent £45, he wouldn't receive £45, it would be deducted 3%* and he would receive that amount. Every payment I have tx/rx have always been deductable.

*or something like that.

edit - ah, personal accounts don't! :O I wish mine was a personal..

 

[Longbow]

I wish mine was a personal..

You can downgrade.

Search for a link on paypal help, should be there. You can upgrade to a premier account again you wish, but you can't downgrade again, only once.

It's best to have 2 accounts, then for transactions linked directly to bank accounts, you can use the standard account and theres no fee's that way.

 

[Ice Tea]

Thanks for explaining

 

[Kol]

You can downgrade.

Search for a link on paypal help, should be there. You can upgrade to a premier account again you wish, but you can't downgrade again, only once.

It's best to have 2 accounts, then for transactions linked directly to bank accounts, you can use the standard account and theres no fee's that way.

Good thinking. Cheers fella.