PayPal question

[RossMAN]

I received $5 via PayPal which was funded with a credit card. When I go to manually claim the funds it says I need to upgrade to a Premier or Business Account.

Which account should I upgrade to? I don't do a lot of transactions on PayPal but I do plan on selling a few things on eBay eventually.

Which is the better account to upgrade to and why? Also the less the fees, the better.

Thanks.

 

[tm37]

Usually I just Leave it in there it's only five dollars.

I have never put money in and I think right now I have a 2-3 dollar balance.


I use it mainly for trades and such.

 

[NetworkDad]

You won't ever be able to claim the $5 until you upgrade. I use the premier account - I sell frequently on ebay, and it works out fine - i'm able to receive and send credit card payments. I can't remember what the fee schedule is though.

Also - if your bank or credit union gives free checking accounts - open up a separate one just for paypal funds.

 

[RossMAN]

Originally posted by: NetworkDad
Also - if your bank or credit union gives free checking accounts - open up a separate one just for paypal funds.

I only have PP linked to my BOFA checking account which I never use for regular checks, etc. But that's an excellent idea.

 

[Damon]

Hi,

There is no real difference between a Business/Premier account. The designation is simply for the customer to make...the fee structures are exactly the same. Basically, users that sell on a PT basis choose a Premier account.

 

[Doggiedog]

Originally posted by: Paypaldamon
Hi,

There is no real difference between a Business/Premier account. The designation is simply for the customer to make...the fee structures are exactly the same. Basically, users that sell on a PT basis choose a Premier account.

Is that true? I had to upgrade to a business account to receive CC funded payments and now everytime I use PP, I get charged 3% or something when before I never got charged.

 

[Damon]

Hi,

Business/Premier accounts get charged for all incoming payments, not just credit card payments.

If you are worried about fees, I can recommend two things:

a) If you sell on eBay, and you have a PayPal debit card, you can effectively save 1.5% by getting cash back on purchases made using the debit card (if you are PayPal Preferred)
b) check to see if you qualify for the merchant rate, which is .7% lower than the standard rate.

Who qualifies for Merchant Rate pricing?

Merchant Rate pricing is reserved for members in good standing (i.e. who are not restricted and do not have unresolved chargebacks) who meet the following criteria:
Been a PayPal member for at least 90 days, and


Received $3,000 in PayPal payments over the previous 90 days (an average of $1,000/month)
OR

Received a competitive offer from an established merchant account provider
OR

Proven long-standing, high-volume eBay seller (eBay user ID and password must be provided on the Merchant Rate application.)

 

[Doggiedog]

How can I go back to being non-business premier member then? I'll just refuse CC funded PP payments from now on.

 

[Damon]

Hi,

You can make the request to downgrade the account on the web site (you have to be logged in). Go to the CONTACT US section of the web site to make the request. It typically takes a couple of days to process.

 

[Doggiedog]

Thx!