Help with Paypal question

[Texatdurango]

I recently opened a Paypal account, have used it to send money to folks but have never received any yet.

I am doing a small group buy and asking the particapants to use Paypal to pay me.

I have scoured the PayPal site and see nothing in regards to percentage fees for either receiving funds or transferring funds to my bank account from Paypal.

I recall seeing many group buys here where people are adding in small percentages for "Pay Pal fees", am I missing something? Is PayPal going to charge me transaction fees and I am just too blind to see where it's mentioned?

George

 

[Milpaul]

They charge a "transaction fee" when they process transactions you receive. There are different plans and the fees vary accordingly.

https://www.paypal.com/cgi-bin/webscr?cmd=_wp-standard-pricing-outside

 

[Texatdurango]

Thanks Paul, I ran across that but don't think it applies to me. I have a "Personal" account and the tables I look at show "Free" for money sending and receiving.

Maybe what I'm seeing is that many forum members have "commercial" or "business" accounts that do indeed charge small percentages for transactions.

 

[Milpaul]

I didn't know you can receive money with a personal account. My turn to do some investigating! []

 

[alphageek]

However, read your terms carefully. Your personal account has limits on how much money you can get in each month.

 

[Texatdurango]

Originally posted by Milpaul
<br />I didn't know you can receive money with a personal account. My turn to do some investigating! []

Hey, if you want to experiment... send me $50... and we'll see if I get it.[]

 

[toolcrazy]

You also may consider, some personal accounts can't receive payments from a credit/debit card. It has to be funds from a funded paypal account.

 

[Milpaul]

Hey, if you want to experiment... send me $50... and we'll see if I get it.

I would gladly help but I don't want to get you in any trouble.[]

 

[hanau]

and when people pay using a echeck thru paypal it stinks.
had one take about a week to clear into my paypal acct.

If someone sends you money it is about a 3% fee paypal takes off the top.

 

[alamocdc]

Originally posted by alphageek
<br />However, read your terms carefully. Your personal account has limits on how much money you can get in each month.

Correct. And as soon as you reach those limits, you'll get an email asking you to upgrade immediately. It's still free at this level, except for the percentage fees. If you don't upgrade, you won't be able to receive any more funds for a month.

 

[btboone]

&gt;and when people pay using a echeck thru paypal it stinks.

E-checks do stink in that they take so long to clear, but they are a set fee of $5, so in transactions over something like $200, they make sense because they're cheaper.