Hi guys, I have a verified premier account however I am sick of paying the so called low fees. For example on a 400USD transaction , I end up paying $15 as just fees and so on. My query is can I downgrade to a Personal Account and is it a feasible option? I need to just receive payments but they tend to be more than 1500USD per month, hence I am hesitant about Personal account since its written no where about limitations etc. Also I cannot sign up for a new personal account since my Pan Card is linked to the first account and Paypal rejects my registration even though we are allowed two accounts. Any help would be welcomed.
Why not Opt for 'Mass Payments' instead of downgrading. It just costs the sender a vry small fee with no fee for the receiver. Here's some info on it : http://www.netbuilders.org/business/save-money-paypal-mass-payments-1078.html
Well, nowadays there will be fee in personal accounts too. So, premium is good for you. And you can ask the sender to send it as a Mass Payment.
Okay Thanks. Can anyone send some light on how much fees they pay in personal account. The senders dont cut the fee from my end so that really doesnt bother me. Currently this is the fee structure for premiere accounts : 2.9% + $0.30 USD to 3.9% + $0.30 USD. Since the credit card option is defunct for Indians and since I just receive money, I was wondering if I am better off with Personal Account since apparently there are no fees for the receiver.
your incorrect on this one. Even for a personal account, you need to pay fees as a receiver as the payment as a 'gift' option has been disabled for Indians.
yup u can downgrade at any time. send a request to paypal by email . u will pe as personal member within 48hrs.
Thanks guys. So basically everyone pays fees to Paypal. I just got confused cos my friend got a 30 dollar payment and no money was cut from that amount. So I thought Personal Account members dont pay any fees.