Bartertown.com

Right, so I have a Paypal Personal Account and I'm wanting to sell some nice bits and pieces here on Bartertown. I know I can recieve payment and from there transfer the funds into my bank account, but I'm wondering about my limits on a Personal Account.

Basically, I know I can only accept up to 5 credit/debit card payments through Paypal and I gather that these are different to sending existing Paypal funds. Is there a limit on the number of Paypal funds-based transactions I can recieve on a Personal Account? Are there fees I'll have to pay Paypal for this?

Many thanks in advance for my silly questions - I just find Paypal's help system really rather unhelpful.

Unhelpful.... you captured Paypal's help section in its entirety. Anyways, there are some fees, like say I send you $30 for some particular model. They'll charge you I believe 6%. The only way I can think of to get around this is if you have a personal account and not the upgraded account. There's a minimum that you can transfer into your bank account per month and that is $500. There may be a way to get that raised but I think you have to send in your place of residence, SSN, and a few other personal thing.

I've never accepted a credit card from anyone.

Hope this helped.

I used to have a "Premiere" account with Paypal and I've switched back to Personal so I know all about Paypal's "fee" schedule.

With a Personal acct, you can only accept 5 CC/DC payments from other people. They charge a fee if you accept the transaction of about 3.5-5%. Other than that, your only other limit is you can only receive up to $500 per month.

Also, I'm fairly sure you can't xfer your paypal funds into your bank account with a Personal account.

But, trust me, this fee schedule is a lot better than the Premiere one. With Premiere, they charge you a fee for EVERY transaction you receive. No other company does this. It's understandable to charge a fee when accepting a credit or debit card, as most card processing companies (like when you use your CC @ a physical retailer) do this. But, there's no reason to charge if you receive Paypal balances or echecks. Basically, stay away from Premiere - it's not worth it.

I should also add that echecks (no matter what account you have) take FOREVER to "clear" in Paypal. Usually the funds are withdrawn and cleared the same day as the payment, however Paypal makes you wait another 2-3 days to receive it.

Is it possible to go back from a premiere account? I really don't like giving ebay more and more money.

I've sparked a discussion

Cheers for the replies though guys, it's very helpful. I'm just curious about not being able to transfer paypal funds into a bank account - surely it defeats the purpose of being paid using Paypal if you cannot then use the money for anything other than buying on Paypal?

Yes and no. It could be a good way such that you sell your stuff but only buy from the money pool you've made.

I'd speak with your bank and see if they can figure out anything. You may have input your checking account number or bank number incorrectly.

Good luck with it.

Did a wee bit of checking on my Paypal account.

Yes, you can xfer funds to your bank account from your paypal balance, although there is a $500 limit. They must have just made that available though because I tried it in December and it didn't work.

Yes, you can "downgrade" your account from Premiere to Personal. Not sure where it is now on the Paypal site and I don't think you can "upgrade" once again to a Premiere account.

Also, Kittah, something to keep in mind as you're overseas. Paypal will charge you a fee to convert currency. I've bought stuff thru Paypal from the UK before and the conversion fee is about 4% of the total.

4% on top of the 6% they already take kind of hurts. This would explain why someone I've delt with from Canada keeps everything in USD.

I just looked and they charge a 2.5% fee on top of the conversion rate (which they also set... ).

I believe that you can also have multiple currencies linked to the same account. I know that at one point I had both CDN and US balances, but I'm not sure if they still do that.