15 {{ upvoteCount | shortNum }}
15 {{ upvoteCount | shortNum }}

Paypal business account?

by Joshua P
13 replies
I upgraded my account few days ago and I feel fees are higher for biz accounts?

Heres what I saw


Thats more than 5% fee

I did not compare but I want someone who has had experience with both personal and biz accounts to tell me if fees are higher in either of those or do they remain the same?

Thanks
#account #business #paypal
  • Profile picture of the author tbsweet52
    I've been using a PayPal Business account for a few years and my transaction fees are 2.2% + $.30 per transaction. However, that is because I qualify for volume discounts.

    If you are in Europe though, the fees are 4.9% + $.30 per transaction if your monthly sales are between £0.00 GBP - £1,500.00 GBP.

    So it actually looks like your fees are indeed correct.

    Hope that helps!

    Tom
    Signature

    Signature goes here

    {{ DiscussionBoard.errors[8228132].message }}
  • Profile picture of the author Teravel
    17 * .95 (or 5%) = 16.15

    I think it's just bad math. There's an easy way to check, it's called the Calculator. You can generally find it by pressing your Windows key and typing Calc. If you're using a Mac, you can press Command+Space and type Calc as well. For Linux users, you can press Alt+F2 and again type Calc.
    Signature

    "Failure is feedback. Feedback is the breakfast of champions." -Fortune Cookie

    PLR Packages - WSO

    {{ DiscussionBoard.errors[8228255].message }}
  • Profile picture of the author Silentkiller1
    You can use this calculator for paypal fess calculation:
    http://paypalfeecalculator.paymentprocessing.cc/
    Signature
    {{ DiscussionBoard.errors[8228283].message }}
    • Profile picture of the author gabriel86
      Depends on what country you're on. Some of them can get greedy. But we all have to accept the fact that if we want to make money we have to invest money of our own.
      {{ DiscussionBoard.errors[8228298].message }}
  • Profile picture of the author Alex Blades
    I always thought the business accounts from Paypal were fair, maybe it varies from country to country...
    Signature
    " I knew that if I failed, I wouldn't regret that.
    But I knew the one thing I might regret is not ever having tried. "

    ~ Jeff Bezos

    {{ DiscussionBoard.errors[8228301].message }}
  • Profile picture of the author Coke
    Yes, the fees are higher unfortunately.
    {{ DiscussionBoard.errors[8228329].message }}
  • Profile picture of the author Marketing Fool
    For me, I upgraded because some of the different membership plugins etc I use require a biz paypal account... I couldn't comment of the fee structure, but I'm sure Paypal clearly spells out their fee's somewhere on their site...just dig a little and check.
    Signature
    Learn to CODE at Codemy.com - It's Pretty Awesome!
    {{ DiscussionBoard.errors[8228350].message }}
  • Profile picture of the author WillR
    I had a business account for years.

    Paypal's risk department then called me up one day to discuss things and informed me if I signed up to their merchant program my fees would be lower. It was literally one click of the button to sign up and nothing else changes apart from the lower fees.

    You may want to look into that. I can't remember the link.
    Signature

    .


    .

    {{ DiscussionBoard.errors[8229291].message }}
  • Profile picture of the author onegoodman
    I would be careful with the upgrade. Once you have a business account, you will be accepting credit cards (fraud chances are higher). Make sure to install fraud protection system to keep you in "the safe side"
    Signature
    {{ DiscussionBoard.errors[8229352].message }}
  • Profile picture of the author brutecky
    In the US Paypal charges 2.9 + 30 cents. Im assuming its similar in the UK. Because there is a fixed 30 cents the effective percentage charge is higher for lower transactions. For example on a $1 transaction the fee would be. 32.9 cents (rounded up to 33 cents) so thats a 33% fee. On a $100 transaction it would be $3.10 a $3.1% fee. That is because the 30 cent fixed per transaction the effective fee seems higher on lower values. On your $17 transaction the fee would be 2.9% of the $17= $0.493 (rounded up to) $0.50 + $0.30 = $0.80 for the total fee. Now your fee was slightly higher $0.06 higher, but that most likely is due to variance in the fixed fees because we are in different country's. So yea it looks about right to me. You just need to keep in mind as I said that there is a fixed price per transaction (30 cents in the USA) which makes PP's fee on a smaller transaction seem like its a higher percent.
    Signature
    Join over 7500 marketers on my Facebook group and also get tons of free tutorials and software to help you with your business.
    {{ DiscussionBoard.errors[8229640].message }}

Trending Topics