PayPal - Micro Payments Account?

KrazyKel

I have a Premier PayPal account Ive had for years, but most of my payments I recieve are small (£2.50 ish Items)
Someome mentioned something on Micro Payments, Can I Do that if im a business seller? and what are the limits etc? Not sure If i can change my account or have to set up another (Which would be annoying and having to change listings to new paypal/email etc)

Crowqueen

I don't know about limits etc. but you are permitted a Micropayments account in addition to any Premier/Business or Personal accounts you may hold.

You pay a flat percentage rather than a 20p fee + percentage, and it's worth it if you mostly take payments below £10.

Myyrrddyn

Crowqueen wrote: »

I don't know about limits etc. but you are permitted a Micropayments account in addition to any Premier/Business or Personal accounts you may hold.

You pay a flat percentage rather than a 20p fee + percentage, and it's worth it if you mostly take payments below £10.

Never heard of this tell me more

Crowqueen

Myyrrddyn wrote: »

Never heard of this tell me more

Don't know a lot about it, but I'm sure someone will be along to explain.

porto_bello

I raised a similar question on this forum and now have two paypal accounts - one standard and one micropayments. [I think it was the ever helpful Soolin who put me right on this].

Transactions on a micropayments account cost 5p plus a slightly higher % than a normal paypal account. So if if you are selling items for £2.50 ish, it is definitely worth creating one (essentially, as things are, you are paying 15p extra to paypal for each transaction).

I use the micropayments account for transactions of about £7 including postage. Beyond approximately this amount , the standard paypal account works out cheaper.

I simply created a second paypal account with a different email address and phoned paypal to ask them to transform it into a micropayments account. They sent me an email for me to confirm instructions and that was it.

KrazyKel

Thanks, Will def have a look at it, most my items are only a few £, but sometimes some buy multiple items, combined invoices etc so wasnt sure whats best
Lately havent sold as much bigger / multiple orders but will need to look into the fees for items which are over the £7 (total) too

Myyrrddyn

I cant see anything on the paypal site for here , but they do have on the American site

Snakeeyes21

They charge 5p plus 5% of the payment value, anything over around £12 is cheaper to get payments using a normal paypal account.
You are allowed to have a micro and standard paypal accout, if you sell on ebay you can specify which account you want to recieve payments to, when making your listing, you need 2 accounts to have the mocro and standard pricing, you cant use the same account for both.
Sign up here https://micropayments.paypal-labs.com/ you need an existing business or premier account to change to this pricing, mine took a couple of days to change over.

Strapped

I have a micro account and a "normal" (premier) PayPal account. The fee on the micro account is 5% + £0.05 so it works out less for items less than about £9.80 something (from memory). I'll try to find the link for you later - PayPal don't exactly go out of their way to advertise it.

KrazyKel

Thanks, Will get one set up, not sure on cards/bank accounts to add to it, I have 2 ... both linked to my paypal, and I dont think I can link them to two paypal accounts.

porto_bello

KrazyKel wrote: »

Thanks, Will get one set up, not sure on cards/bank accounts to add to it, I have 2 ... both linked to my paypal, and I dont think I can link them to two paypal accounts.

Yes, you're quite right: you can only link one bank account to one paypal account and probably it's the same for credit cards.

I have my bank account and credit card linked to my standard paypal account. I use this for receiving income to my bank account when the balance goes above £50 (avoiding any fee) and making larger, occasional credit card payments on paypal.

I haven't got my micropayments account linked to anything - I use this simply to take small payments, settling eBay selling fees and as a funding source for making small ebay purchases - the balance never goes very high.