Posted By:
JKBased on the amount you plan to sell, you will need a premier account or a business account.
A personal account is really limited. You can purchase online all you want. The nice thing about personal accounts is that you are not charged a fee for money received into the account. However, you can only receive up to $500 a month. In addition, while paypal states you can accept limited credit card transactions, in reality, they will make you upgrade to a premier or business account to receive such payments.
Premier accounts are described by paypal as being for "individuals" who buy and sell online.
Business accounts are described as being for "merchants who use a group or company name."
Both premier and business accounts have unlimited receiving limits and allow you to accept credit card payments. Paypal also takes a cut of any money received into your account - even direct cash payments from a bank account.
According to paypal's website, the fee to receive payments funded by Credit Card, PayPal Balance, PayPal Instant Transfer or PayPal eCheck ranges from 1.9% to 2.9% + $0.30 USD depending on the amount of transactions. The fee for e-checks, however, will not exceed $5. The specific fee structure is as follows:
Monthly sales .........................Price per transaction
$0.00 USD - $3,000.00 .................USD 2.9% + $0.30 USD
$3,000.01 USD - $10,000.00 ............USD 2.5% + $0.30 USD
$10,000.01 USD - $100,000.00............USD 2.2% + $0.30 USD
> $100,000.00...........................USD 1.9% + $0.30 USD
Finally, I believe if you have a business account (I dont) you can apply for special "merchant rates" if your sales volume meets certain criteria. Contrary to what David suggested above, if you are going to be doing over 10k a month, I would think you'd want a business account.