Paypal Limitations?

[Dolemite69]

I don't sell on E bay often, but I have a new thang up for sale.

But I noticed on PayPal that there is a "$100" a month limit on incoming transactions.. Do I have to upgrade to a "premier or business" account to recieve more than 100 bucks a month?? And do these account upgrades cost me or what? I couldn't find anything on Paypal's website... Thanks for any help!

 

[Russ]

Yes, you have to upgrade. Yes, it costs money, and they will also want all of your bank account numbers, credit card numbers, financial records and a note from your Mother.

Russ, NCNE

 

[Russ]

BTW, nice way to spam the forums with a link to your auction.

Russ, NCNE

 

[Damon]

Hi Dolemite69,

Just to clarify, the limit applies to credit cards. If a user pays fully with bank account or PayPal balance transfer it will not count against your limit.

 

[urbantechie]

e-bay Sucks. Take that link out.

 

[ToBeMe]

OMG.......that shouldn't be here....(flea-bay link)

 

[BuckMaster]

Russ, dont forget they want your first born child too.

 

[fir3wir3]

If you think paypal sucks (which I dont) get a merchant account

see how much fun it is.

 

[Dolemite69]

So when you say it costs money, they aren't withdrawing $ from my bank account are they? They only charge me a fee when someone sends me money with a credit card, right? ......better be right!

 

[Russ]

fir3wir3,

I have a merchant account and I still think Paypal sucks.

Russ, NCNE

 

[Damon]

Hi Dolemite69,

If you have a Business/Premier account, a charge will apply to all transaction. If you have a personal account, there is a limit on the amount of funds you can receive via credit card, but flat balance payments or echeck payments do not apply against the limit.

Here are the fees for business accounts-PayPal Fee Schedule for Premier and Business Accounts. You can access this information by going to the site and clicking on business accounts. You will see the fee schedule link where the site compares personal and business accounts.


Transaction Amount

Source of funds under $15 $15 or more

Credit Card 30¢ 2.2% + 30¢

Non-Credit Card
(Checking account or PayPal balance)
30¢ 1.6% + 30¢
(maximum fee of $5.00)





Fees are charged on incoming payments only. No fees for sending money.
Fees are the same for receiving international payments.
Personal Accounts remain free.

 

[Pardus]

Russ is right on target, paypal was good when all was free, now they charge you for everything.

be careful not to ship items your selling with paypal for 3-days, too many fake transactions going on.

paypal is suck

 

[fir3wir3]

russ, I do as well but 40/month and an interest rate to boot makes paypal the better alternative

 

[Russ]

ActiveX,

I have no problem with them charging for their services. They are a business and, if they charge a fee they'll probably survive a little longer.

My gripe is that they require access to my checking account in order to be "verified" and do more then $250 in business. I do many, many thousands of dollars a month in online transactions and all that money flows thru the account. No way in hell, I'm letting them in there.

I'll give them a page full of credit card numbers if they want them because then I know I'm protected. But, that doesn't seem to be good enough.

Russ, NCNE

 

[sun818]

Hey PaypalDamon. Nice to see you Anandtech. I see you on AuctionWatch quite often, but I see that you are making it out to the smaller forums too! Cool. PaypalDamon is great. He helped me follow up on a few issues involving Paypal.

 

[Damon]

Hi sun,

If you let me know where they are... I will visit


Hi Russ,

Yes, we ask for additional identification if a user wants to send more than 250.00 to limit the amount of damage someone can do with a fraudulent credit card. Having your bank account on file does not give us unilateral access to your account and you would have to log in to the account and request a transaction against your bank account for any activity to appear against it. Bank account deposits and withdrawals are federally regulated items and you can also view our terms of use.

 

[Yeeny]

Paypal is not doing well in my book at all. I ordered a new computer, and paid for it through them. It was two $500 payments, and they charged my checking account $1000.00, and put a hold on my debit card for $1000.00. So I have 2000.00 out of my account, instead of the 1000.00 I should have. When I verified my account, they changed the payment over to checking for some reason, and then did this to me. When I call, all I get told is wait fourteen days for the hold on my debit card to be released. Now what if I had checks out and they would have bounced? I will never use them again.

Oh and the best part is I emailed them over a week ago, no reply. Then I have to sign up for a business account to get a number to call, and its long distance? That is just aggravating...

 

[Russ]

GF,

Thank you for illustrating precisely why they will never get my checking account number and thus, never my business.

Russ, NCNE

 

[Damon]

Hi Girlfriday,

From what you have described...you have used instant ach as a payment option and this is why the transaction did that. If you use this option it will initiate an add funds transfer from your bank account and secure the equivalent amount against the credit card on file. The reason---we make the money available immediately instead of waiting several days for the ach to clear so that you can pay quickly. The hold is removed against the credit card generally within 7-30 days (depending on the issuing bank).

When you go to send money you will see the options and a link to change your payment options.

Hope that helps.

 

[sun818]

Hi Damon. If you go to heatware.com and click on the "Add" link, you will see a list of Forums that are popular among users. I think HardOCP is the other forum that gets a decent amount of For Sale / For Trade postings that involve Paypal.

http://www.hardforum.com

Thanks,
Sun W.

 

[Yeeny]

PayPalDamon: While I appreciate your trying to help me, I already heard this from the representative at the long distance call I placed. If they wanted to help me, they would let my money go, since they received it already. And they would have returned my email at the very least. I STILL have not heard back from them, and I emailed them over a week ago. I do not worry about changing my payment options, because I will never use them again.

 

[capybara]

paypalDamon: thanx for answering our questions here.
please stay + enjoy anandtech. Yes, some people are
unhappy w PP, but it works 99% of the time. Question:
if i sell something, and it is paid by paypal by
credit card. 1) am i notified that the payment was by
credit card and not by other means? 2) will waiting
3 days bewfore shipping an item protect from MOST
credit card fraud, as ActiveX suggested? 3) seller
protection - please explain it. Someone victimized by
credit card fraud got a PP response they had no
"seller protection." Thanx for your help. =) Capybara

 

[fir3wir3]

I agree... how many 100's of transactions occur here daily between anandtech members that have no problems....obviously no body is going to post that.

But I definatly see Russ's point...I just dont want to deal w/ the almost 4% interest rates that the merchant account has unless I have to.

Mark my words, one day you'll see me posting on here saying that I got ripped off...

 

[Yo Ma Ma]

A question for you Paypaldamon, regarding having a bank account linked to your paypal account. I've seen where people are being charged back various amounts of money up to months after the original transaction. What if this were to happen, and my paypal account is currently -0- or below the chargeback amount, would paypal then pull the money from my linked bank account? Thanks -

 

[izzzy12k]

Paypaldamon...

Hey I've been trying to get my account fixed, I got funds from a "fradulent user". As of right now my account is -$203. The only thing I did not have that was requested was shipment tracking info. I did forward the email I got stating that the guy got the stuff.

Paypal has been silent and avoiding me all together.

Here's the thread I started in the Sysopt.com Forum

So now what???

-izzy