|
#1
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Kevin Struss
I have had a PayPal account for a long time for purchases that I made, but I now want to start accepting PayPal for payments due to me. I see that they have three different accounts: Personal, Premier and Business. I have no idea which one I should choose. Any recommendations? |
#2
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Ken McMillan
I have a premier account which seems to work well for buying and selling |
#3
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: leon
First of all welcome to our board. We have known each other almost since I got into the hobby (a short 12-13 yrs ago) and I have always respected your card knowledge and our friendship. |
#4
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: davidcycleback
I sell a decent amount and have a business account (I just logged on to check, as I was unsure which type I had). All I can tell you is it has worked for me. When the customers PayPal money, I get it. Though the $10,000 to $20,000 you describe is more than I sell. I might sell a couple thousand in a good month. At circa $120,000/$240,000 a year you might want to boot up to Leon's Premier status. |
#5
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: JK
Based on the amount you plan to sell, you will need a premier account or a business account. |
#6
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: davidcycleback
Note that I speak from ignorance. |
#7
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Kevin Struss
Thanks guys. I am still trying to figure out if a Premier or Business account is better for me, but now at least I have some good info to go on. |
#8
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Steve
If you want to sell on ebay you need a premier account. |
#9
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: leon
If you start taking paypal then you should take all but about $500 out every chance you get. The more you have in there the more that they can take away from you (or freeze). It happens for no good reason many times......Paypal has some idiotic policies....but, as stated, it's almost a must nowadays to do quick business.....Still, use Paypal E-check and save most of your money...regards |
#10
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Steve
Leon why leave any amount in the paypal account? |
#11
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: E, Daniel
How do the paypal e-checks work? |
#12
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Red
The e in e-check is electronic and nothing is physically sent. PayPal sends you an email saying somebody has given you an e-check but the funds won't go into your account for a few days until it clears. I don't know what the limit is. |
#13
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: davidcycleback
I speak only from personal experience, but I can accept credit cards and download all my money to my back account on my professional account. I'm not a high roller, but I've experienced no practical limitations to accepting and handling money with my account. Granted, no one's tried to PayPal me $50,000 with their credit card. |
#14
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Doug
Is there any way to buy or sell an item over $10,000 using paypal? I recall running into this problem trying to sell a '52 Topps Mantle on ebay about a year ago. |
#15
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Steve
If you are selling on ebay you will need a premier account at the least. |
#16
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Andrew S.
If you are going to make that much per month thru PayPal it will automatically be reported to the IRS. Also, you will pay the highest rate of capital gains tax on that amount. Around 38%. And if you forget to list it on your next 1040 form as income, prison ain't much fun. |
#17
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Steve
Is there any way to buy or sell an item over $10,000 using paypal? I recall running into this problem trying to sell a '52 Topps Mantle on ebay about a year ago. |
#18
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Steve
I was not aware that paypal tells the IRS anything and they surely do not |
#19
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Anonymous
|
#20
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Lee Behrens
Leon, |
#21
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Mike
I heard starting in the year 2011 paypal will be sending out 1099's to the IRS if you have over $20,000 in receipts or 200+ transactions. |
#22
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: leon
Believe it or not I have not run into that yet. I really don't like paying too much in fees so would probably either request a check or try to split it. Since I only sold 1 item (not a card) on ebay last year I haven't had to deal with it too much. I think if anyone pays by a CC then they can't do the e-check method...as it has to come from a bank account. I am not positive of this but think that's the case. I do take and send quite a few e-checks and the process does work well....but I have a bank account and my other parties have had one too...regards |
#23
|
|||
|
|||
OT: Accepting PayPal for Payment. - Which Type of Account...?
Posted By: Laura
I think either a Premier or Business account would work for you. Be aware that if you tie your account to a bank account without a credit card, in the event that you'll have to make a refund to a customer (for whatever reason) it will be treated like an eCheck and take several days to clear. |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Paypal account hacked............ | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 17 | 04-22-2009 09:45 AM |
How to add insurance to an paypal payment? | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 3 | 05-05-2007 11:46 AM |
someone trying to take over my ebay and paypal account | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 11 | 03-10-2007 09:01 PM |
New eBay/Paypal cash payment codes | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 5 | 12-06-2005 11:39 AM |
Accepting Paypal | Archive | Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions | 5 | 08-13-2003 06:10 PM |