Does PAYPAL Take a FEE Whenever you Recieve Money??

[Parpunk]

Ok im new to Paypal and a bit confused. I have heard a couple different things but not really sure whats up. Ok i heard that paypal does NOT take any money from you when you recieve a payment from somebody as long as you arent a business. But then my aunt said shes not a business and they take 8 percent of whatever she sells. But she does sell TONS of stuff. TONS and tons of different transactions. Not say fr instance i sell like 20 items a month tops? and recieve paypal from half of them?? what am i looking at here?? Could someone lease give me as much info as they can lol. thanks!

[Darren870]

every time you recieve money they take a percentage. Its 2.9% and then if someone pays with a credit card its an extra 3%.

Im pretty sure those percentages are right. You can check on there site. Depending on the amount of money you intake I think that 2.9% can go down also.

But to answer your question, yes they take $ everytime.

[Parpunk]

hmmm i just recieved payment from somebody with paypal and it didnt mention anywhere if them taking any part of it?? Now do they take that 3 percent out of my account or bill me later?? Do you know anything about that??

[loporjai2003]

Log onto paypal and check the summary .. should tell you how much was taken off. If I am not mistaken, personal accounts are free up to a certain amount but that means no credit card payments.

[ryborg]

Personal Paypal accounts can only accept Paypal balance transfers and eChecks, NOT any form of a credit/debit card payment. This payments do not cost you anything. Every other account (Premier, Business, etc) can accept all forms of payment, but there is a fee on every payment received, even ones that are free to Personal account holders.
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[Parpunk]

yea its not showing any fees in my account. it says i have a $500.00 recieving fee limit. Now what is echecks and paypal balance transfers?? i have sent money from my paypal account and it worked fine. But everybody i bought from told me they had to wait for my e check to clear?? i have my account linked to my saving account. How come theyre called e checks??

[ryborg]

yea its not showing any fees in my account. it says i have a $500.00 recieving fee limit.

Ok, then you have a Personal Account. You can only accept Paypal balance transfers and eChecks. You can only receive $500 in payments/month, and you can only withdraw $500/month as well.

Now what is echecks and paypal balance transfers??

Balance Transfer = when another person sends existing funds from their Paypal account to yours.

eCheck = An electronic check where the other person enters in their checking info. It works just like a check and has to clear just the same.

i have sent money from my paypal account and it worked fine. But everybody i bought from told me they had to wait for my e check to clear??

That's because you are using your bank account to fund your Paypal account. If people send you eChecks, I recommend waiting to ship until they clear, too.

i have my account linked to my saving account. How come theyre called e checks??

Paypal considers any bank account a "checking" account and payments sent via a bank transfer act as checks because it takes a few days for the bank to process the transfer. Whether its an actual checking or savings account is irrelavent. It still takes time to clear.
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[Parpunk]

thanks man that pretty much sums it all up for me. thanks dude!
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