I need to set up a paypal account for people to

Deals_2

pay into. i find their site a bit complicated. is it free to withdraw or do i ask for an extra fee on top to cover paypal fees? thanks in advance. urgent!

[Deleted User]

Hi,

it's free, once you get it set up it works fine.

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"PayPal does not charge for adding funds to your PayPal account or withdrawing funds from your PayPal account to your UK bank account. However, bank fees may apply. Please contact your bank for details." is there a list anywhere of what banks do charge?
thanks everso for your help so far frugalmacdugal!!

I also readthis so am getting confused:
"Receiving a personal payment (e.g. a gift from family) is free if the sender uses their PayPal balance or their bank as a funding source. If they use a credit or debit card there will be a small fee. The sender can decide to pay this or pass it on to you."

blue_monkey_2

Ah yes, you are applying for a personal account, you need to apply for a business or premier account. Then when you are sent money a charge will apply - around 3.4% plus 20p for each transaction. You are not charged for sending or withdrawing money.

If you do not have a premier account then you cannot accept credit cards. Once you have received over a certain amount you will also have to revert to a premier account. You also get better rates with a business or premier account.

If you are sent a payment by someone using the 'gift' option then the sender of the money can pay the fees, however if you are using it for business this will not apply and you can incorporate the fee into you P&P charges or sale price. Please be aware that if you are selling on eBay you are not allowed to add your Paypal or listing/selling fees onto your P&P charges.

What kind of business do you need it for?

There are not really any other day to day charges, no subscription fees etc... you will get charged though if you withdraw your funds to the wrong bank account.

My bank has never charged me for accepting money into my account. If your bankcan do bank transfers then you will not get charged. They are covering their backsides really.

Deals_2

can i start with a personal account? can it take direct debit cards then?
are you saying only with premier account can take credit card?
not sure understand "when you have received over a certain amount" (how much and how does this work exactly?)

did not understand about withdrawing from wrong bank?

i have opened the paypal account and not linked it to any bank as not requested it. do i need to do it from the beginning? not that straightforward or when i want to withdraw? thanks and sorry for all the questions

blue_monkey wrote: »

Ah yes, you are applying for a personal account, you need to apply for a business or premier account. Then when you are sent money a charge will apply - around 3.4% plus 20p for each transaction. You are not charged for sending or withdrawing money.

If you do not have a premier account then you cannot accept credit cards. Once you have received over a certain amount you will also have to revert to a premier account. You also get better rates with a business or premier account.

If you are sent a payment by someone using the 'gift' option then the sender of the money can pay the fees, however if you are using it for business this will not apply and you can incorporate the fee into you P&P charges or sale price. Please be aware that if you are selling on eBay you are not allowed to add your Paypal or listing/selling fees onto your P&P charges.

What kind of business do you need it for?

There are not really any other day to day charges, no subscription fees etc... you will get charged though if you withdraw your funds to the wrong bank account.

My bank has never charged me for accepting money into my account. If your bankcan do bank transfers then you will not get charged. They are covering their backsides really.

blue_monkey_2

OK, first off I think it might help more to know what you need it for.

Yes, you need to add your bank account else they cannot pay you any money - where would it withdraw too? If you enter the wrong bank account details you will get charged if the payment bounces. This is around £14. This is why you should add, and verifiy, your bank account. They will put a small sum of money into your account and you will need to add this amount on the page and this verifies that the account details you are using are correct.

You can start with a personal account but you cannnot accept card payments, just someone who is paying from their bank account (direct debit) or paypal balance. Please be aware that the majority of people will pay by card. Paypal get's charged for accepting card payments on your behalf so they pass this charge onto you. DD payments would be free - hence you being allowed these. Likewise you will need to upgrade the account to accept debit card payments.

When you have received over £4,000 (this could have changed, I've had mine as a business account for a long time) you will have no choice but to upgrade to a premier or business account - it is to stop the account being used for money laundering.

Deals_2

family/kids party event. appreciate ur help

blue_monkey wrote: »

OK, first off I think it might help more to know what you need it for.

Yes, you need to add your bank account else they cannot pay you any money - where would it withdraw too? If you enter the wrong bank account details you will get charged if the payment bounces. This is around £14. This is why you should add, and verifiy, your bank account. They will put a small sum of money into your account and you will need to add this amount on the page and this verifies that the account details you are using are correct.

You can start with a personal account but you cannnot accept card payments, just someone who is paying from their bank account (direct debit) or paypal balance. Please be aware that the majority of people will pay by card. Paypal get's charged for accepting card payments on your behalf so they pass this charge onto you. DD payments would be free - hence you being allowed these. Likewise you will need to upgrade the account to accept debit card payments.

When you have received over £4,000 (this could have changed, I've had mine as a business account for a long time) you will have no choice but to upgrade to a premier or business account - it is to stop the account being used for money laundering.

Deals_2

You can start with a personal account but you cannnot accept card payments, just someone who is paying from their bank account (direct debit) or paypal balance

blue_monkey wrote: »

OK, first off I think it might help more to know what you need it for.

Yes, you need to add your bank account else they cannot pay you any money - where would it withdraw too? If you enter the wrong bank account details you will get charged if the payment bounces. This is around £14. This is why you should add, and verifiy, your bank account. They will put a small sum of money into your account and you will need to add this amount on the page and this verifies that the account details you are using are correct.

You can start with a personal account but you cannnot accept card payments, just someone who is paying from their bank account (direct debit) or paypal balance. Please be aware that the majority of people will pay by card. Paypal get's charged for accepting card payments on your behalf so they pass this charge onto you. DD payments would be free - hence you being allowed these. Likewise you will need to upgrade the account to accept debit card payments.

When you have received over £4,000 (this could have changed, I've had mine as a business account for a long time) you will have no choice but to upgrade to a premier or business account - it is to stop the account being used for money laundering.

cally6008

if it's your family and kids, why dont you get them to give you cash, much easier

or bank transfer ?

blue_monkey_2

Ah I see, so you are having a big party but there is a central account that you want the money paid to. That makes sense. If it is family you can specify that they need to pay with a bank account only, no card payments. For this you would only need a personal account. If it reaches 4k then you will need to upgrade and give lots of other info to prove who you are. This is because of money launderiung regulations.

Could you not give family and friends your bank account details for them to put it into your bank account by transfer?

Yes, if you have a personal account you cannot accept card payments, if someoe tried to pay by card it will not allow the money into your 'account' until you have upgraded your account.

[Deleted User]

Hi,

does anybody else remember the days when you got a birthday card and eagerly opened it hoping there would be money inside.


Changed days. :rotfl: