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PayPal Fee's

Discussion in 'General Discussion' started by Ice Tea, 13 Jul 2006.

  1. Ice Tea

    Mobster

    Joined: 1 Nov 2004

    Posts: 3,572

    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
     
  2. Wrathamon

    Wise Guy

    Joined: 18 Oct 2002

    Posts: 1,542

    Location: Edinburgh

    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)
     
  3. Berserker

    Man of Honour

    Joined: 4 Nov 2002

    Posts: 15,454

    Location: West Berkshire

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

    Capodecina

    Joined: 8 Jan 2003

    Posts: 13,973

    Location: London

    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..
     
  5. Longbow

    Sgarrista

    Joined: 15 Jan 2004

    Posts: 9,490

    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.
     
  6. Ice Tea

    Mobster

    Joined: 1 Nov 2004

    Posts: 3,572

    Thanks for explaining
     
  7. Kol

    Capodecina

    Joined: 8 Jan 2003

    Posts: 13,973

    Location: London


    Good thinking. Cheers fella.