paypal premier - worth doing?

richard plumb

Distinguished Member
Hi

I've been selling quite a few bits and bobs recently and several people want to use paypal. I have a personal account so receiving money from paypal balances or instant bank payment is free, but I can only receive 2 payments from credit/debit cards unless I upgrade to a premier account.

the upgrade is free, but then I pay 3.4% on everything I receive, even stuff from bank accounts/paypal balances.

anyone have any thoughts on this? Do you just pass the fees onto buyers? Now they do instant bank transfer, are there more people paying like that, which means it'd be good to keep the fee-free personal part and don't accept paymetn from credit cards?

eg if 90% of people were pyaing from a balance or bank payment, then I'd keep personal. 90% credit cards then I'd upgrade. But what is the actual ratio people are finding?
 

RBZ5416

Distinguished Member
Create a second account & make that Premier. All you need is a different e-mail address. You can then accept payments from cleared funds as before or add fees for the Premier account if they want to fund by card.

This calculator is useful for determining fees.
 

richard plumb

Distinguished Member
thanks. so it doesn't need a separate mailing address? can I still attach it to my bank account for easy withdrawals etc?
 

RBZ5416

Distinguished Member
No separate mailing address required.

I think you would need a different bank account number to withdraw directly (this could just be your savings account), but you can simply transfer funds from the Premier to Personal & then withdraw them from there.
 

richard plumb

Distinguished Member
yep, it didn't like me using the same bank account. And I don't think I can set up my savings account for direct debit.

does that matter though if I only use it to receive payment and then transfer to my personal as you say? Do I still need to validate the account?
 

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