I was at mylot recently and a poster ask a very good question about the payment processor Paypal. For those of you that don't have much experience with this payment processor, perhaps the short writeup below can share some light :)
Differences between personal and premier account.
With Paypal personal account, you are not charged when you received payment from anyone unless that person is paying you using a debit or credit card. I've had first hand experience with this because I have received multiple payment as a personal account and have never been charged a single cent until I received notification of incoming payment from a sender using credit card payment.
The charge for accepting such payment is higher if you are on a personal account. My suggestion is if you are expecting more than 5 payments via credit or debit card, then premier account is the way to go - otherwise the personal account is more than sufficient.
Since paypal allow each member to have two accounts, it is worthwhile to have both as both accounts are free and it is worthwhile to note which programs pays from paypal to paypal account or credit card to paypal account. If you don't know then just sign up with your personal account. If there is notification of payment before accepting the funds, then you would know that the sender is sending via credit card and perhaps you can cancel the funding and request that the sender use your premier account instead.
Hope the information above gives a clearer view of the two accounts.
The charge for accepting such payment is higher if you are on a personal account. My suggestion is if you are expecting more than 5 payments via credit or debit card, then premier account is the way to go - otherwise the personal account is more than sufficient.
Since paypal allow each member to have two accounts, it is worthwhile to have both as both accounts are free and it is worthwhile to note which programs pays from paypal to paypal account or credit card to paypal account. If you don't know then just sign up with your personal account. If there is notification of payment before accepting the funds, then you would know that the sender is sending via credit card and perhaps you can cancel the funding and request that the sender use your premier account instead.
Hope the information above gives a clearer view of the two accounts.
2 reactions:
Thanks for posting this. I was wondering why Paypal keep charging me for every amount I'm getting from my program. Now I know. Gonna get myself a Personal account now as well. Great Post.
Thanks sator. Hope it helps other visitors as well understand Paypal better :)
Post a Comment