I recently converted my account to Premier account. Next thing I know, the funds added in my account get a massive 3.7% cut. Lost $XX there in fees to PayPal. Does this apply to small amounts as well? What about a $25 payment, does this also get cut by 3.7% ? It seems Personal Accounts don't get any deductions towards PayPal fees, am I right? Now, I wish I did not upgrade....is it possible to downgrade back to Personal?
Nope please read the payment fees in Paypal help. All account have charges. Mine a business account also being charged. if you received payment from a credit card the fees even higher
AFAIK a person is allowed to have one personal and one premier account. You could downgrade, but downgrading it may ensure that you won't be able to upgrade it again. A premier account and a business account are nearly the same, but the premier is in the name of an individual.
Also, if you go back to personal, you are only allowed to recieve a certain number of payments and then you HAVE to upgrade to recieve any more.
Paypal fees are amongst the lowest in the industry and it is not huge. Remember that they need to pay to keep their services going and they would need to pay all the intermediaries such as the banks their service charges. If you do not think that you benefit from using Paypal or that you are earning less than the fees yourself then you should try looking for an alternative. Just make sure that you priced your products or services higher than the fees. In business, you need to pay others who help you so that they can help you in the future. Put yourself in Paypal's shoe, would you offer your services for free and pay for each customers transaction cost from your own pocket ?
Maybe cause it was a currency conversion they charged you another 2.5, because I've never had any problems with paypal, yes them taking some of the cut is a biznitch, but you get over it and besides their one of the best and trustworthy. And if their is a site that doesn't charge, once it gets big it'll just charge too, so paypal is the way to go;]
all getting charged if paid via CC,paypal fees are very high because they are holding the internet payment processesing.
Well, PayPal fees is the lowest for the kind of service and reach you can have. You pay more than double if you accept payments through merchant gateways for CC processing! Check ppcalc.com for fees calculation.
Paypal is a good and very quick service, do you offer your services for free? I tink paypal is one of the better payment processor out there.
Well, I was wrong in the math, I guess it really was 3.9% Maybe it's not that much, but if you get large payments through PayPal, you can certainly feel the pinch. That 3.9% adds up fast. If you received $10,000, you would lose around $400. That's 4 HUNDRED bucks.
3.9% is peanuts as fees in the real world. I am using Plimus and they are taking an average of about 10% as fees. If I did not use them, I would not have earned the 90% in the first place so it is really a small price to pay in my case. I am sure with your $10,000 deal, you are making more in terms of profits than Paypal.
Credit card companies charge fees. Banks charge fees. As far as Paypal goes, they're offering a pretty sweet deal. Currency exchanges notwithstanding, if there is a better online payment processor, I've not heard of them. @OP: If you are taking in more than $500 per month via your Paypal account, then there is nothing you can do about those fees. Otherwise, open up a new personal account and use that instead.
A bank account of another person can pay for your account of credit card, or loan, or car payment, many other things.. and if you're victim you got to call investigate for month to get your money back.. its' really trouble..