Paypal questions please help.

[Ams]

What is the main difference between premier and personal accounts? And if I have a premier account will there be any monthly or yearly charges if I don't use it? And I was making it just so that I could get donations and stuff so would there be any taxes? So if I got $5 a month for admin on a server and I put that in my bank will I get $5 and not $2.75 or something? Would a premier or personal account be better for recieving money and transfering it to a bank card?

 

[cavemangrinder]

If I remember correctly, premiere account allows you to accept credit card payments, (example: if you have an online business) and stuff like that. And there is not a monthly fee I think. I really don't remember, havent used paypal in years. There should be better information on the website.

 

[Ams]

I checked the website and I just wanted to cover those questions before I made my account. I am only 16 with a debit card and frankly don't want to loose all my money incase of taxes and charges and stuff.

 

[cavemangrinder]

Heres a chart

 

[Ams]

Now is this telling me that transfering money from paypal to bank account is free and that I will get taxed when getting money? So If I get $5 I will end up with $4? And is the premier better than personal for recieving money? All I really plan to do is to recieve money and possibly spend $5 a month.

 

[cavemangrinder]

How will you be receiving the funds? If its credit/debit card then yes, there is a % fee. If you dont want to be charged anything, you need a personal account and the person sending you money must send funds through paypal balance, paypal instant transfer or paypal echeck.


On a side note.......this thread should really be in the social lounge

 

[Teny]

i think personal account can only hold a certain amount of funds on a paypal account, back when me and my friends were selling things on ebay, we had a personal account, then i think when it went close to $300, they told us to upgrade to a premier account. Which kind of sucked since it probably took like $50 total from me out of like $400.

 

[cavemangrinder]

i think personal account can only hold a certain amount of funds on a paypal account, back when me and my friends were selling things on ebay, we had a personal account, then i think when it went close to $300, they told us to upgrade to a premier account. Which kind of sucked since it probably took like $50 total from me out of like $400.

Maybe you needed to upgrade to premium account because of the amount of transactions. The personal account only allows 5 credit/debit transactions in a 12 month period according to the chart.

 

[Ams]

Ok thank you very much for all the help. Now I am understanding this process more. Thank you.

 

[Teny]

Maybe you needed to upgrade to premium account because of the amount of transactions. The personal account only allows 5 credit/debit transactions in a 12 month period according to the chart.

we only sold 2 guitars, one is mine which i sold for $180, and the other was my friend which was $250. So they made us switch to premium when we sold 2 things on ebay, which is 2 transactions, we had to switch to it before we can accept the money.