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Few Paypal Questions

Old 10-26-08, 11:35 AM
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Few Paypal Questions

Hello Just a few questions about paypal.

1.Under what circumstances will you not incur any fees when you receive a payment from someone?

2.Having a personal account, can you receive an unlimited amount of payments as long as people pay with money already on their paypal account, as opposed to a credit/debit card?

3.When you withdraw money, do you get it right away? I withdrew some money from my paypal account over the weekend. While it says the transaction is complete on paypal's site, I still haven't received the money in my account. It is the weekend so maybe that has something to do with it...

4.If you want to upgrad to a premiere account, do you have to register as having some kind of business? I'll of course go back and read the terms and conditions but I just want to find out from some fellow paypal users.

Thanks for any help you can provide
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Old 10-26-08, 01:27 PM
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Don't take this for the gospel, but I believe...

1) If someone just sends you money, you don't get hit with the fees. That is, if they don't go through a checkout service (such as through eBay), but rather just set it up to transfer money from their account to yours, I think it goes through, fee free. If you're trying to optimize how much money you get for an eBay transaction, you should know that doing this will invalidate any seller protection for which you might otherwise qualify.

2) To the best of my knowledge, there are no limits on how many payments you can receive. The sender has to actually have the money to send, but beyond that, there are no limits.

3) It takes a few days to complete a withdrawal. It takes even longer to have Paypal mail you a check. I recommend getting a Paypal debit card, which is backed by MasterCard and can be used like a debit or credit card. (If you use it as a credit card, you can get cash back on purchases.)

4) I have a Premiere account, and do not have a business, so no, you do not have to have a business to get a Premiere upgrade.
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Old 10-26-08, 02:28 PM
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Thanks for the info MinLShaw...if you're wrong I'll hate you forever! j/k even though your info may not be the gospel it is appreciated.

1.I think if the person sends the money as a gift rather than a payment, you don't incur any kind of fee. All of the money I have received has been for dvds that I've been selling through another site just like this one. I haven't had any kind of formal auction.

2.I think you can receive an unlimited number of payments as long as the person is paying from their paypal balance. I'm new to paypal and I haven't used it to make payments, only receive them. I believe that you can receive 5 payments a year when someone uses their credit or debit card to pay. That seems kind of ridiculous to me. Only 5?!?!

3.I'll wait until tomorrow and check my bank account again and if I don't see the money there, I'll contact paypal and find out what's going on.

4.I just upgraded to the premiere so that the fee amount wouldn't be such a high percentage. I haven't found the terms and conditions for the accounts, but when I first signed up, I thought I read something about having an established business...maybe it had to do with selling stuff via auctions. i'm just doing all of my sales via classified ads and PMs.

anyway, thanks again for your help. it's much appreciated
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Old 10-26-08, 03:01 PM
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If I recall the limit is $500 per month depending on your anniversary date that you signed up. That is the way it is with my personal account..I have both a personal and business account..
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Old 10-27-08, 11:37 AM
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Originally Posted by civiclx View Post
Thanks for the info MinLShaw...if you're wrong I'll hate you forever! j/k even though your info may not be the gospel it is appreciated.

1.I think if the person sends the money as a gift rather than a payment, you don't incur any kind of fee. All of the money I have received has been for dvds that I've been selling through another site just like this one. I haven't had any kind of formal auction.

2.I think you can receive an unlimited number of payments as long as the person is paying from their paypal balance. I'm new to paypal and I haven't used it to make payments, only receive them. I believe that you can receive 5 payments a year when someone uses their credit or debit card to pay. That seems kind of ridiculous to me. Only 5?!?!

3.I'll wait until tomorrow and check my bank account again and if I don't see the money there, I'll contact paypal and find out what's going on.

4.I just upgraded to the premiere so that the fee amount wouldn't be such a high percentage. I haven't found the terms and conditions for the accounts, but when I first signed up, I thought I read something about having an established business...maybe it had to do with selling stuff via auctions. i'm just doing all of my sales via classified ads and PMs.

anyway, thanks again for your help. it's much appreciated
I just reviewed the terms of agreement and I saw nothing about a limitation of 5 credit or debit payments per year. Like disneyguy said, there is a limit of how much you can withdraw at a time, but there should not be a cap on how much you can receive from one buyer. I confess, though, that after five minutes of reading their revised gobbledygook, my head started spinning over the various ways that buyers can completely exploit sellers (which is even worse for eBay sellers, since they are now bound to accept any and all Paypal payments for their goods). Consequently, I may have missed something.
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