[HELP REQUEST] Should I change my Paypal account from Premium to Personal?

@Alnitak (423)
Italy
May 4, 2008 6:42am CST
Hi, I've been reading something about mylot payments on paypal but I see there is a lot of confusion about fees that Paypal could apply. I've never received payments on Paypal... I just used it to buy an object on eBay and I activated my pre-paid card but I see that my account is Premium and I don't even remember switching it... But now I'm wondering if I should consider a downgrade... in the Paypal site I read something that seems to be a contradiction: they say that if you want to receive money on your account you should have a Premium account but in the fees table they say that payments for Personal Accounts are FREE. Shouldn't they be forbidden? And what about other sites that asked for an activated account? I'm trying mysearchfund too, does it work with a personal account too?
1 person likes this
1 response
theproperator
@theproperator (2429)
• United States
4 May 08
If you are selling things on ebay and want to be able to accept payments through paypal that are funded with a credit card, you have to have a premium account. You get charged a fee everytime someone pays you though, weather they use a credit card or not. If you have the account just for getting paid by sites like myLot, then you are better off with a personal account, because no money is taken out. I had a personal paypal account for years and only recently HAD to upgrade it recently because I sold something on ebay and the buyer used a credit card to pay. :-( I should add that I live in the USA, so the terms may be different for those who live in other countries.
1 person likes this
Alnitak
@Alnitak (423)
• Italy
4 May 08
Ok, I think it's a little unfair that they apply fees for ALL payments with a premium account... if I need someone to send me 1$ they take 50% :P I also found this: http://ppcalc.com/ And I've read here (http://tinyurl.com/6cnuho) that you can downgrade only one time BUT that with personal accounts you can accept some credit card payments too accepting to pay the fee (but I don't know if only for US accounts or for each others too). So, I'll try to see if it's the same in my country and maybe I'll downgrade. Thanks for your help ;)
1 person likes this
theproperator
@theproperator (2429)
• United States
6 May 08
I used to have the option of accepting credit card payment with my personal account an just paying a one-time fee, but they did not give me the option this time, so I think they have changed their rules so that they can make more money. I'm thinking of starting a second account for recieving payments from my GPT sites and only useing the premier account for selling on ebay.
1 person likes this
Alnitak
@Alnitak (423)
• Italy
6 May 08
Yes, that seems to be the best option, but you need a second credit card and I think you can't move your money from one account to another if they are both yours... Anyway, do you remember if in your personal account you had the option to activate more than one currency balances?