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Sold something for £1.70....Paypal fee was 26p !!!!!!???
newsaver40
Posts: 148 Forumite
I always thought Paypal fees was 5%.
Just checked my account and they've taken 26p in fees from a £1.70 transaction!
Surely that can't be right.
Just checked my account and they've taken 26p in fees from a £1.70 transaction!
Surely that can't be right.
0
Comments
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You didn't check the T&C..."!!!!!!"?
(3.4% + 20p) per transaction or if you open a microaccount then (5% + 5p) per transaction. 26p is correct if you have a "mainstream" PayPal account.They deem him their worst enemy who tells them the truth. -- Plato0 -
Best never to assume anything to do with money. It would have been 14p on a micro accountI’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0
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Do you have to have a business account to have a micro account ?0
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yummymummy222 wrote: »Do you have to have a business account to have a micro account ?
I don't think so.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
Do you have to have a business account to have a micro account ?
No - you can have one of each type of account, personal, premier, or MP as a private individual."Well, it's election year, Bill, we'd rather people didn't exercise common sense..." - Jed Bartlet, The West Wing, season 4
Am now Crowqueen, MRes (Law) - on to the PhD!0 -
Do you have to have a business account to have a micro account ?
No - you can have one of each type of account, personal, premier, or MP as a private individual.
This is what it says on there website
"Micropayments is designed for businesses that process transactions under £5"
But does anyone have one on a personal account ?0 -
Designed for, yes, but not limited to.
Most of the items, individual books of which I don't have multiple copies, I'm selling now are less than £5 (in fact I have been selling for 8 years and can remember most of the transactions I've had that went above that level), so I suppose a micropayments account would be appropriate if I could be bothered to set one up (and I think it might require another bank account or card, which I don't have). Therefore it is perfectly reasonable to expect a private seller to require one.
The way to test it is to try and set one up as a private individual."Well, it's election year, Bill, we'd rather people didn't exercise common sense..." - Jed Bartlet, The West Wing, season 4
Am now Crowqueen, MRes (Law) - on to the PhD!0 -
Do you have to set it up as a new account or can you add it your current (personal) one?0
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Do you have to set it up as a new account or can you add it your current (personal) one?
It is a completely separate account which is why I don't think you need your other account to be a business one. I don't have a business account anyway, I am still using a premier one.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
Is the buyer overseas?
I seem to remember the paypal transaction fees are higher if there is a currency conversion involved."The secret of life is honesty and fair dealing.
...If you can fake that, you've got it made."
Groucho Marx0
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