Questions about Pay Pal account types

[Tink]

I have used a basic Pay Pal account for several years just for online purchases, and have started using it to accept payments for puppies. The basic plan only allows you to put through a maximum of $500 a month, which is not enough for me when I have litters and am accepting deposits. I don't have transactions every month, but could have a few thousand dollars coming through in a single month. (not often, but it happens)

So I know I need to upgrade, but don't know which type of account I should go to, or what the cost is of each. I've checked their site and see what each type offers, but not how much it costs to have either of the upgrades. Does anyone have any words of wisdom for me? I don't need a lot of extra things with it, just mostly to be able to put more than the $500 through in a months time.

[momoftwo]

Hi - I don't think it costs to upgrade your paypal account. I have a premier account and sell on eBay. Some months I have thousands that go through my account and other months I have nothing depending on how hard I want to work!

I did set up a go between account at my bank so that when I transfer money out of paypal it is not going into my standard checking or savings account. This way if my paypal account somehow got hacked, no one could get to my real bank accounts and empty them as well.

Heather

[Larry]

Nope, upgrading does not cost anything..I believe you just have to give them more information financially...to lock you in real good.

Im sure you are well aware about PayPals fees, Do not forget to adjust your pricing to account for the fee's.

Running deposits through will get costly and that cost should be passed on to the buyers, unless you are very generous.

[Tink]

Thanks Heather and larry

I did decide to upgrade and was approved for a Paypal debit card as well. I figure it will come in handy when I order vet supplies and such andif I use that, I don't have to wait for the money to be transferred to my bank account.

I've been told it's taboo to charge extra to cover the fees... anyone know if this is true? So far I haven't done it, but over time it will definitely add up.

[Larry]

Paypal does not allow it as an announced thing, I guess you could call it taboo.

Everyone does it...it just becomes part of your pricing, they just do NOT want to see it posted on someones auction. This assumes that everyone is going to pay via Paypal...You just ask that question first. They are paying for the convenience of using a credit card. Gas stations do it...why shouldnt you?

That is money out of your pocket. And it adds up quickly.