Receiving money through PayPal

[tealfan]

I've paid through PayPal a bunch of times, but never RECEIVED money. Is there anything special I should know? I'll stop by their website later to check it out, but I thought I'd ask the people who have experience with it. Thanks,

 

[MonoXiDe]

They charge you a percentage of the dollar amount. =/

 

[dannzac]

To be more specific. They charge a % if the buyer uses his/her credit card to pay. Balance transfers are free.

 

[leafschik1967]

If you have a Premier account, I think they ding you for every transaction, personal accounts can only receive balance transfers, and pay no fees. Please correct me if I am wrong.

 

[tealfan]

Balance transfers meaning Paypal to Paypal?

 

[SportsCardsEct.]

do u have a premier account? like do you pay with your credit cards? Or do you transfer money from your bank directly into your paypal account?

 

[PhilM]

I am pretty sure they ding you for every INCOMING transaction with a premier account.
They don't let you accept credit card through a regular account.

regular account you can do a paypal balance incoming and not get dinged, unless they've changed it.

 

[tealfan]

I just checked. I have a Personal Account.

 

[suitman19]

Why so many answers that are GUESSES???????


1) With your personal account - you may only pay for transactions with either your balance in your Paypal account - or if it is linked to your bank account - the balance in your bank account. I do not believe that there is a limit on what you may SPEND in a given month with your Personal Paypal account.
2) With your personal account - you may receive ONLY funds from either a Paypal balance transfer OR funds from the senders bank account (if it is linked to their bank account). If soemone tries to send you funds via credit card - Paypal will ask if you want to upgrade your account to a business - or - premeir account in order to accept that payment. You may either upgrade or deny the payment. If you choose to upgrade you will be dinged on EVERY transaction in the amount of $.30 + 2.9% of the transaction. Also if your buyer is from Canada (for example) you wil be charges an even higher rate of $.55 + 2.9%.
There is a list of fees at this Paypal addy:
https://www.paypal.com/cgi-bin/webscr?cmd=_display-receiving-fees-outside&countries=

Also be aware that there is a receiving limit per month with a personal account:
You may receive ONLY $500 per month ( although you will receive any transaction that puts you over the $500 limit) - and any amounts buyers send you above that either have to be denied - or you have to upgrade (and be dinged) you account to accept.
You may also ONLY transfer a maximum of $500 in any month to your linked bank account as well.

Hope this gives you your answers - it is best to READ the rules of any program like Paypal when you sign up - or from the Paypal site , as the answers you receive may be misleading.

bruce

 

[tealfan]

Why so many answers that are GUESSES???????


1) With your personal account - you may only pay for transactions with either your balance in your Paypal account - or if it is linked to your bank account - the balance in your bank account. I do not believe that there is a limit on what you may SPEND in a given month with your Personal Paypal account.
2) With your personal account - you may receive ONLY funds from either a Paypal balance transfer OR funds from the senders bank account (if it is linked to their bank account). If soemone tries to send you funds via credit card - Paypal will ask if you want to upgrade your account to a business - or - premeir account in order to accept that payment. You may either upgrade or deny the payment. If you choose to upgrade you will be dinged on EVERY transaction in the amount of $.30 + 2.9% of the transaction. Also if your buyer is from Canada (for example) you wil be charges an even higher rate of $.55 + 2.9%.
There is a list of fees at this Paypal addy:
https://www.paypal.com/cgi-bin/webscr?cmd=_display-receiving-fees-outside&countries=

Also be aware that there is a receiving limit per month with a personal account:
You may receive ONLY $500 per month ( although you will receive any transaction that puts you over the $500 limit) - and any amounts buyers send you above that either have to be denied - or you have to upgrade (and be dinged) you account to accept.
You may also ONLY transfer a maximum of $500 in any month to your linked bank account as well.

Hope this gives you your answers - it is best to READ the rules of any program like Paypal when you sign up - or from the Paypal site , as the answers you receive may be misleading.

bruce

Thanks for the cut-and-paste, Bruce. I just wanted to get everyone's take on it (in plain English) before I dove into reading what PayPal had to say. Luckily, I don't have anyone paying me through PayPal right now. I just wanted some FYI for future reference. Thanks, everyone!