Is this a paypal trick?

I am thinking to make two accounts in paypal..

One personal account and another premier account..(its legal according to paypal TOS )
Premier account only for receiving credit card payment..

As i want to receive about 2-5$ everytime, paying $0.3 on every transaction would give me nothing.. So i want to receive money in personal account.

When i want to withdraw,i can aggregate both my account money into personal account (as no fees for sending and receiving money).. So there will be only one transaction fee.

As i am a newbie, is this a trick
Or everybody else doing the same thing

Please share your paypal tricks here to save transaction fees.

 

Yes, that is doable. Just move your funds from your premier/business account and pay yourself at your personal account and withdrawl from there.

 

I got my accounts limited for doing this. When I rang them up they tried to accuse me of money laundering

 

Ryan, were your accounts verified when it was limited ? Do they know you are just consolidating the funds together.

 

I'd assume lots of people do it. I have a personal account then accounts for different businesses.

 

Is saving 30 cents really worth possibly having all of your funds frozen

 

yes, one can do like that... personally I'm not doing because want differentiate between myself and business as different entities.

 

As a clarification of this issue, I've written to Paypal and this is their reply

Hope that helps.

 

Notice they don't define "modest" though so in essence you are still taking a major risk by doing this.

 

I would think that a couple of hundreds a few times a month should be within the moderate range as in the other paragraph said that my transactions are alright. I just did not want to paste anything personal in here.

 

I would not take a risk of getting the account completely frozen.

And I still don't know that if from your personal account you transfer $1000 to your business account. Then it doesn't charges the transaction fees.

 

U can definitely have 2 accounts, i just read it..

Here is the link Paypal

I have also written mail to paypal, about how to open a new paypal personal account.

 

No one is disputing that...It is the transfers between the two (essiently bypassing the fee system) which may get you in trouble.

 

yfs1 you are making me shiver :-S hope this is allowed, i dont do this type of thing just for saving the fees, but to allocate funds in the 2nd account.
Amit

 

As stated Paypal allows for a "Moderate" amount. I would never advise doing it but if you strongly feel you are only transferring a "Moderate" amount, then the decision is yours.

I just don't want people to read this thread, see its allowed, start moving large amounts of dough, then post complaining their account was frozen.

 

Thanks for making it clear, i have transferred this month xxxx$ too and that will be the last time i did
Amit

 

Spot on, my personal account handles a few thousand £££ a month, my business account masses more than that (I am talking banking here) while a £10000 transfer in my business account would be seen as modest, in my personal account it would not!

Modesty is relative!

 

why then paypal would be allowing 2 account ?
They must definitely knowing that the user will definitely going to transfer funds between his accounts ..
I think there is no need to fear about that.

 

Not really...I have a personal account that I actualy use for personal stuff like eBay, etc

I then have two seperate business accounts that are only used for the sites that they are attached to.

 

I am the same Yfs1 I draw down money to the business bank account, then transfer that to my personal account where ebay and other online purchases are made. Stops the tax man having too much of a paper trail to follow when they show interest LOL