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Paypal - macro and micro accounts
lovethymini
Posts: 718 Forumite
Hiya
If like me, you were pushed by Paypal to upgrade to a Premier account and have been paying their disproportionate fees for receiving small amounts of money, you may be interested in this. I've tried emailing them previously but this is the first time I've received a reply... (If you already know about this, don't let me bore you, but I think some people out there may not be aware!)
Premier/Business account rate for receiving funds is 3.4% + 0.20 GBP
Standard rate applies to "macro" payments (1.4% + 0.20 GBP to 3.4% + 0.20 GBP per transaction)
Micro payments rate applies to "micro" payments (5% + 0.05 GBP for UK to UK payments)
plus any applicable charges posted at paypal.com, such
as "cross border" or "foreign exchange" fees as appropriate
This means that receiving under £12 it's cheaper to use a micro account, and over £12 it's better to go with the macro account.
Does anyone make use of this? How do you do it? I'm thinking at the moment that I will have to run two Ebay accounts, open a new email address account and run two paypal accounts. Oh and try and guess whether my item will sell for more than £12 or not!!
If like me, you were pushed by Paypal to upgrade to a Premier account and have been paying their disproportionate fees for receiving small amounts of money, you may be interested in this. I've tried emailing them previously but this is the first time I've received a reply... (If you already know about this, don't let me bore you, but I think some people out there may not be aware!)
Premier/Business account rate for receiving funds is 3.4% + 0.20 GBP
Standard rate applies to "macro" payments (1.4% + 0.20 GBP to 3.4% + 0.20 GBP per transaction)
Micro payments rate applies to "micro" payments (5% + 0.05 GBP for UK to UK payments)
plus any applicable charges posted at paypal.com, such
as "cross border" or "foreign exchange" fees as appropriate
This means that receiving under £12 it's cheaper to use a micro account, and over £12 it's better to go with the macro account.
Does anyone make use of this? How do you do it? I'm thinking at the moment that I will have to run two Ebay accounts, open a new email address account and run two paypal accounts. Oh and try and guess whether my item will sell for more than £12 or not!!
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Comments
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I've been using it for about a year, but there were untold hoops for me to jump through to get it, but Paypal have now properly rolled out Micropayments, and created an easy to use page on signing up to it.
https://micropayments.paypal-labs.com/
Click the Sign Up link, select your country, and log in to your Paypal account from the page. You will be asked to confirm your decision, and it will take a few days to process.
Once accepted, ensure that all your low value BIN listings are directed to the Micro account to make the most of the savings.
It does work best if you have two Paypal accounts, but this will need two bank accounts to operate them.<--- Nothing to see here - move along --->0 -
Thanks for the link
So - two paypal accounts, two bank accounts, two email accounts - two ebay accounts. Surely most ebay sellers don't put this much effort in?!
Right - I've switched my Premier account over to Micro, and will use hubby's account for higher value items.
Whilst I'm at it, I'm going to change both the linked bank accounts to our credit card accounts for added peace of mind!
I've just asked them how to access a macro account as I can't find any mention of it anywhere on Paypal.0 -
You can have them attached to the same ebay account - any items that sell for less than £12 inc postage, use the email address for the micro account in the payments section when you list, and higher value items, use the email for the normal account.
I have 2 business paypal accounts, linked to two separate business bank accounts. One is a micro, and one is a macro that I also use for business purchases. My Paypal debit card is attached to this one as well, so I use that for payment at the post office, as well as some offline business purchases.
I have a 3rd paypal account attached to my personal bank account for my own buying and selling.
It makes accounting a lot easier, and when I was selling in volume, the micro account saved me around £750 in fees over 10 months or so.<--- Nothing to see here - move along --->0
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