WTF? Paypal is flicking my money....

[ring_wraith]

I recently received 25USD from someone, and when I logged into my paypal a/c i saw that i had to click the accept button. In the row of that payment, it said Fee=0$. Once I clicked the accept button, my a/c balance increased by 23.8 USD. I was like "WTF Where did the ~1$ go???"

Then I clicked details, and suddenly under the fee column it showed 1.2$.

Does paypal charge you for every transanction you receive?

And how do I get this money into my bank a/c?

Please guys, I need a quick reply on this one.... I'm so pissed off with paypal right now...

[valtea]

if your account is premier or business they charge. Please read the documents again

[preshit.net]

If yours isn't a Personal account, you are charged a fee for funds you receive from others.

[ring_wraith]

How do I know if it is a personal account? What if the person sending me the money does not have a personal a/c?

I'm sorry if I sound like an idiot, but I know nothing about PayPal.

[preshit.net]

It doesn't matter what type of account the sender has. It depends on what type your account is.

You can view the details of your account after logging in. Yours mustn't be a Personal account. Paypal doesn't charge a fee on Personal accounts.

[ring_wraith]

It says "Premier" account. What's that?

It's unverified btw. Do I need to verify it? Won't be getting over 100-150$ a month and no sending, just withdrawing.

[ahref]

In premier acct for every money you received you have to pay fee, in personal account if sender's money is credit card funded then also you have to pay transaction charges.

If you have premier account you can downgrade it, send a request to paypal they will downgrade it to personal.

[Kiran.dks]

*Personal Account
Ideal for shopping online. It’s a free, secure, and fast way to send payments. You can also accept bank account or PayPal balance-funded payments for free and a limited number of credit or debit card payments per year for a low fee.
*Premier Account
Perfect for both buying and selling. Make secure payments on eBay and merchant websites. Plus, accept credit card, debit card, and bank account payments for low fees.
*Business Account
The right choice for your online business. Accept credit card, debit card and bank account payments for low fees.

Check these links: https://www.paypal.com/us/cgi-bin/we...Signup-outside
https://www.paypal.com/us/cgi-bin/we...siness-outside

[ring_wraith]

So downgrading to a personal a/c should make receiving around 150$ a month free?

And how do i request PayPal to downgrade my a/c?

One more query, now that my PayPal A/c balance is in USD, when I withdraw it in INR, what exchange rates will be used? I heard that PayPal has really bad exchange rates...

----Added----
I was just going through some stuff and it said PayPal personal a/c cannot accept from Credit Cards. How do i find out if the payment I am receiving is from a Credit Card or PayPal a/c? Also, if I switch to a personal a/c, what if someone tries to pay me through Credit Card?

[din]

So downgrading to a personal a/c should make receiving around 150$ a month free?

Yes.

And how do i request PayPal to downgrade my a/c?

Login to your paypal account and you can downgrade account.

I heard that PayPal has really bad exchange rates...

Not very bad, but slightly less than what XE shows (xe.com/ucc)


How do i find out if the payment I am receiving is from a Credit Card or PayPal a/c?

Paypal email notification will tell you that.

Also, if I switch to a personal a/c, what if someone tries to pay me through Credit Card?

You can either upgrade again to accept the payment or deny the payment.

Upgrading / downgrading are allowed for a certain number of times, I think 2 times only.

Also ..

Do not want to discourage you, we will sure help you too, but paypal has an excellent FAQ / Help section explaining all these - and more. Go through it too.

[ring_wraith]

I read through a lot of the paypal help pages and even some other online resources. I'm not a complete noob I just ask what I can't figure out or find.

and the e-mail notification din't mention that!

[ahref]

In personal account, credit card payment you need to accept it (even without upgrading), whereas paypal balance payment are credited to your account (you need not to accept). You can accept only 5 cc payment per year in personal account.

You can downgrade only once your account, i.e if you again upgrade from personal to permium you can not downgrade again.

[ring_wraith]

^^ thanks man, I read that in a help page.

But can anyone give me a definitive method to identify a payment made by a PayPal a/c ?

[utsav]

Keep 2 paypal acc .i do this. keep one personal acc and a premier acc.make the personal acc your main acc.receive cc payment from the premier acc and transfer it to your personal acc .and if you receive paypal balance money use your personal acc to receive it.it will help you to save lotsa money.