PayPal Fee's

Ice Tea · 13 Jul 2006 at 23:02

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 · 13 Jul 2006 at 23:03

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 · 13 Jul 2006 at 23:04

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

Kol · 13 Jul 2006 at 23:05

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..

Vulcan · 13 Jul 2006 at 23:39

Mikol said:
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 · 16 Jul 2006 at 00:45

Thanks for explaining

Kol · 16 Jul 2006 at 02:05

Longbow said:
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.