Posted Wed Mar 09, 2005 4:06 am GMT by R Deckard
I just learned (via a lot of digging on their website, and believe me, it is buried) that, since Nov. 4, 2004, PayPal will only allow you to receive $500/month for selling "goods" using a "Personal" account:
"PayPal considers the receiving of funds from eBay, auction, or website sales in excess of the Personal Account limits to be beyond the normal level of personal use. . . . After November 4th 2004, your receiving limit will be set to the equivalent to $500.00 USD (based on your primary currency). Your limit will be reset each month on the anniversary of the date your account was opened."
If you want to receive more than that for selling "goods" in a 30-day period, you have to "upgrade" to a "Premier" or "Business" account, which then requires you to pay a fee of 2.9% + $0.30 for any money you receive!!
The only way to receive more than $500/month fee-free is if the money is for a "service" or "quasi-cash". This is selectable by the payer in the "Category of Purchase" field when they are on the PayPal "Send Money" screen. If they select any other type--"eBay Items", "Auction Goods (non-eBay)", or "Goods (other)", the funds will count against your $500/month limit, and then you will have to "upgrade" to Premier and pay the fee to receive your money.
Why am I mentioning this? I just sent my Paulson group buy payment of $1313.20 to Nugzy, but he got charged a fee of $38.38 to accept it! I selected "Goods (other)" as my Category of Payment. I instead should have selected "Quasi-Cash", which does not count against the Receiving Limit, and is really the correct description anyway--I'm technically not buying anything off him, I'm transferring funds to him.
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Posted Wed Mar 09, 2005 7:07 am GMT by Abused Rib
It's more like a service. You paying him to buy chips.
Posted Wed Mar 09, 2005 9:11 am GMT by Juliea344
Only if Nugzy was charging him a fee, then that fee would be payment for the service of buying chips.
Posted Wed Mar 09, 2005 2:49 pm GMT by Fins
| Quote: | | I just sent my Paulson group buy payment of $1313.20 to Nugzy, but he got charged a fee of $38.38 to accept it! |
Not that Nugzy would do this but just curious... could Nugzy have rec'd the money over a 3 month period and avoid the fee?... or do they make you pay a fee if your item sells for over $500 on e-bay for example?
Is this in addition to normal fees? I thought the person accepting pay-pal transactions paid a fee regardless of the amount... I don't know how it works as I've only purchased thru pay-pal. I'd like to start selling some items on e-bay and thought pay-pal was the way to go - any other options? comments?
Thanks,
Fins
Posted Wed Mar 09, 2005 2:51 pm GMT by pocket snowmen
can someone give me a brief description of how paypal works?
Posted Wed Mar 09, 2005 3:51 pm GMT by Nugzy
I am waiting for PayPal to contact me regarding this matter.
R Deckard - I will have this cleared up soon. I may have to refund your payment and have you resend it. I will contact you via email when I get everything straightened out with PayPal.
Posted Wed Mar 09, 2005 3:53 pm GMT by PocketRocket
Try http://www.paypal.com/
You can get the straight information from there without someone redescribing it to you.
| pocket snowmen wrote: | | can someone give me a brief description of how paypal works? |
Posted Wed Mar 09, 2005 3:55 pm GMT by Nugzy
PocketRocket, why the change of heart with the Desert Sands chips? Not that it matters, I was just curious.
Posted Wed Mar 09, 2005 5:20 pm GMT by ott
R Deckard,
You should get Nugzy to refund the money... then re-pay again using quasi-cash so Nugzy won't get hit with the Paypal fees.
Posted Wed Mar 09, 2005 5:22 pm GMT by PocketRocket
Actually, I'm afraid I forgot to check my e-mail on Monday 
Some idiot rear-ended me and I was running around getting estimates and going to the doctor. Think he might still honor the offer?
| Nugzy wrote: | | PocketRocket, why the change of heart with the Desert Sands chips? Not that it matters, I was just curious. |
Posted Wed Mar 09, 2005 5:35 pm GMT by Nugzy
Im sure he still would honor it. Email or call him and mention that you were part of the group buy. Explain why you couldnt be contacted, and Im sure he will let you in.
Posted Wed Mar 09, 2005 5:43 pm GMT by PocketRocket
Thanks, I'll give him a call later.
| Nugzy wrote: | | Im sure he still would honor it. Email or call him and mention that you were part of the group buy. Explain why you couldnt be contacted, and Im sure he will let you in. |
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