I have not used Paypal in several years. That being said, I am going to start using them again to sell my services. However, I tried calling them but got a non english speaking person on the phone who was of no help. I'd like to know how PayPal works? #1, If I receive $$$ only selling my services, who pays the fees? #2, If I have a business account setup can I receive checks in my own name? #3, Can I receive payment using a personal account? #4, If yes to question #3, is there a limit on how much $$$ I can receive? If yes, per month, week, daily or yearly? #5, Is there a way for me to check to see if a member is verifield and/or living in the USA? #6, Am I allowed to setup both a personal and business account? #7, Does PayPal give the ability to include a well written contract to a service that was offered and paid for?
1) As always, the seller is the one who pays the fees. 2) If you set up a Paypal Business account, all check payments will be to the Business Name. If you do not have a business then a Premier account is more appropriate as it will be in your name and your checks be in your name. 3) Yes, you can receive payment with your personal account but you are limited to 5 credit card transactions a year and all incoming payments funded from existing paypal balance is free for you. 4) There is no limit as to how much you can receive unless it is from an eBay auction or if you use the Buy Now button or subscription where you be limited to a maximum of US$500/mth. http://www.paypal.com/cgi-bin/webscr?cmd=xpt/ua/USUA-outside#receive-policy 5) As to the verified status, Yes, each time when someone pays you, you get an email notification, click on the 'View the details of this transaction online' in that email and you should be able to see if the person is verified or not. I personally only accept verified members only so I do check this option so if you get payment from an unverified account or a non-US account, you can refund the person. So as long as you do not do automated fulfilment, you can screen all your transactions. It will just show '(The sender of this payment is Verified)' if it is a US registered Paypal account and '(The sender of this payment is Non-U.S. - Verified)' if it is not from the US. 6) Yes, under the Agreement, you can set up both a Personal and a Business or Premier account http://www.paypal.com/cgi-bin/webscr?cmd=xpt/ua/USUA-outside#eligibility-policy 7) No, you just get an online and an email notification of sales only.
eddy2099, Thank you. So there is no limit on how much $$$$ I can have in my personal account? It is just that I can't receive any more then $500/month? So, if I have $10,000 in my personal account, what happens?
Yes, you can have as much money in your paypal account as you want. You can have $10,000 it really makes no issue as long as you obtain the funds legally and your account is in good standing.