2 {{ upvoteCount | shortNum }}
2 {{ upvoteCount | shortNum }}

How to keep charges at minimum while receiving payment through Paypal

by cbnet
1 replies
I live in India. I have linked my paypal account with my bank account in an Indian bank.

I received my 1st payment of US$13.50 in my paypal account and the balance now shown in my paypal account is $ 12.61. That means paypal has deducted 0.89 cents.

Now my queries are:

(i) Will paypal people be deducting further charges while crediting this amount to my Indian Bank;

(ii) Will the Indian Bank be deducting some charges while crediting the amount to my account; and

(iii) What strategy one should adopt to keep all such charges at minimum.
#charges #minimum #payment #paypal #receiving
  • Profile picture of the author MonopolyOnline
    Welcome to PayPal.

    The standard fees via receiving payment via a Premiere and/or Business account are:

    2.9% and $0.30

    Buy setting your account to Micro Payments, you can lower the transaction costs to:

    5% and $0.05

    ... but by doing some math the break even point is around $12.53. So if your product/service is around $10, Micro Payments will save you money. But as far as I know, you cannot setup a PayPal account to do both Micro and Premiere/Business. You have to choose you merchant account accordingly.

    Plus you'll have to pay "cross border fees" too.

    Checkout

    Paypal.com/us/webapps/mpp/merchant-fees

    I have a Premiere PayPal:

    In the United States, I pay no transactions fees from Bank to PayPal, or PayPal to Bank. I can also send money to people under personal without PayPal transaction fees.

    You might want to checkout Stripe.com or Braintreepayments.com your money processes.

    I hope this helps.
    {{ DiscussionBoard.errors[9002763].message }}

Trending Topics