Paypal fees 2 accounts ? ?

sirboz

I currently sell lots of cheap items (99p), looking at my paypal account, they take 23p of eacj transaction. I originally had a personal account which was free, but a few people tried to pay with uncleared funds/credit cards so i had to upgrade my account.

Is there anything I can do to reduce my costs ? ?, I wouldnt think your allowed 2 accounts, 1 personal, 1 business. Or is there any other ideas out there ? ? ?

innovate

You can have more than one Paypal account - though to get verified, you must have more than one bank account, they won't allow the same bank account to be specified more than once.

I seem to remember, though, there is a limit as to how much you are allowed to receive into a personal account before they force you to upgrade to a business account.

Have you looked at offering other payment methods, such as Bank Transfer, EggPay, Moneybookers?

Unfortunately, too many people only buy when Paypal is offered, and many buyers are oblivious to the fact that there are Paypal charges.
The easiest therefore might be if you just add the Paypal charges into your prices, or into your P&P. Be careful, though - you must not state anywhere that you are charging extra for Paypal payments, apparently that's against eBay policy.

*Louise*

innovate wrote:

You can have more than one Paypal account - though to get verified, you mustI seem to remember, though, there is a limit as to how much you are allowed to receive into a personal account before they force you to upgrade to a business account.

FORCED being the word for it.....

I had to wait 2 weeks for my account upgrade, to find out the nubers on the bank statement etc. I was under the impression I was verifying my accound while doing this, but my account remains unverified.

When I look up verification, the steps involved are the same ones I have already done...nominate bank account, confirm address....I'm sick of it :mad:

user1234_2

Paypal allows you to have a maximum of 1 personal and 1 premier/business account

PayPal allows members to have one Personal account and one Premier or Business account. However, each PayPal account must contain unique email addresses and financial information. You may upgrade your account at any time

Bottom of this page: https://www.paypal.com/uk/cgi-bin/webscr?cmd=xpt/cps/general/PayPalAccountTypes-outside

However, isn't the same thing going to happen for your new personal account?

sirboz

yes it would i just thought i could use the one that charges fees for e-bay, then the 'free' one for quidco who owe me £240 in cashbacks and suchlike

but i dont think its worth the hassle by the sound of it ! !

thnk i will stay as i am

innovate

user1234 wrote:

However, isn't the same thing going to happen for your new personal account?

Very likely, for two reasons

1. somebody wants to pay you with credit card
2. you go above the annual limit (£3K?) for personal accounts

You can't do much about the second point, but the first one you can probably get away with by specifying in the auction that you don't accept card payments. However, that then might limit your customer interest. So you could just not mention anything in the auction, and if somebody does pay by card, reject the payment and ask the buyer to make a payment to your business account. You must explain to the buyer in this case why you are doing this - and hope they have got brains and don't leave you neg feedback etc.

As to the limit of 2 accounts per person:

I haven't got more than two myself, but I somehow doubt that Paypal could check that a person doesn't have more than the two "allowed" accounts. E.g. how could they know whether Pat Smith and Patrick Smith are the same person, even if they live at the same address? Pat could be Patrick's wife or mother or sister or daughter Patricia. So Pat Smith and Patrick Smith could, between them, have four Paypal accounts - totally within Paypal 'rules'.

Paypal do, however, not allow the same bank account more than once (and can check this very easily). So if Pat and Patrick Smith only have one joint bank account, they can only open one Paypal account, even though they are two people, and Paypal says everyone can have two accounts.......you get my drift

Everytime I write something in the context of Paypal charges my blood begins to boil because Paypal are taking the micky! How come there are no charges on paypal.de (for in-country transactions) whilst we pay 20p +3.4%?? Well, I suppose somebody has to fund the eBay ads on telly...........and the german Paypal operations..........

innovate

sirboz wrote:

yes it would i just thought i could use the one that charges fees for e-bay, then the 'free' one for quidco who owe me £240 in cashbacks and suchlike

but i dont think its worth the hassle by the sound of it ! !

thnk i will stay as i am

sirboz, it's no hassle to open the second Paypal account (if you have a second bank account). Get one, don't let Paypal to take 20p +3.4% of your hard earned Quidco money!

If you don't have two current accounts: Open a Citibank account via Quidco ---- aaah, just checked whether it is £60 or £70 and notice it's no longer there now! - - but there's still the £20 Cahoot one, no strings attached (no regular paying-in requirements etc). If you can afford a "strings attached" current account, I believe A&L at £125 (referral board), and FD at £50 (sign up bonus), are still open for applications.

sirboz

hmm you have persuaded me, your right. Ok im going to give it a shot, just that i remember, trying to set up the first one and had a load of hassle. but you absolutely right, will give it a go, & let you know !

kit

Can someone explain this to me S L OW L Y as I'm confused!!

I have upgraded my paypal account due to needs to take credit cards. Do this mean I am paying them more in fees than if I just used a personal one???

OllieLong

kit wrote:

Can someone explain this to me S L OW L Y as I'm confused!!

I have upgraded my paypal account due to needs to take credit cards. Do this mean I am paying them more in fees than if I just used a personal one???

Y o u ... d o ... n o t (sorry ) pay any fees with a personal account but when it is upgraded you pay 20p +3.4% on everything you recieve.

kit

Thank you OllieLong..... I will even forgive your sarcasm

Seeing that I gave up selling to make money (business selling) and now only sell to try and clear the cr*p that has filled my house I think I will open another paypal account.

Hmmmm, and to think all this time I didnt know this....... MUST PAY MORE ATTENTION. :wall::doh::wall: