izzy2 Posted March 6, 2006 Share Posted March 6, 2006 Exactly how does paypal work? Are there any fees? Quote Link to comment Share on other sites More sharing options...
shutterbugg Posted March 6, 2006 Share Posted March 6, 2006 You basically have two options with paypal. You can either get a personal account or a business account. YOur business account will allow you to accept credit cards, but you do have a fee for that use. Its 2.9% percent of the total bill and .35 cents. While its nice to be able to accept them CC's it will also suck the fees out of all your other transactions, even if they are not CC's.The personal account is nice, you can take the money right out of your checking or bank account. Other people can pay you and then you transfer it right into your account for no fee. I dont know how i would get along with out my paypal accounts. The downfall to this one is you cant take CC's. They are almost a must for co-ops and alot of your suppliers will accept paypal payments.. You are also able to ship right from paypal which makes life alot easier, no more trips to the post office HTH Quote Link to comment Share on other sites More sharing options...
wvcandleguy Posted March 6, 2006 Share Posted March 6, 2006 I have the business account thru PayPal, and the fee's are not that bad. I had a 65.00 order this weekend and the fee was less than $2.50. It is really nice to be able to accept CC's online. As my business advances I will probably also get a merchant account. Anyway, just my 2 cents worth Quote Link to comment Share on other sites More sharing options...
AngelaVA Posted March 6, 2006 Share Posted March 6, 2006 I have two accounts - one personal and one business. My business one charges a small fee, but it's very reasonable to allow me to take credit cards. My personal account has no fees. It stinks having having a fee extracted from every business transaction, but for me, it's the best credit card option (and the fees are pretty small). Quote Link to comment Share on other sites More sharing options...
geekrunner Posted March 7, 2006 Share Posted March 7, 2006 I got a PayPal biz account when I was doing alot of computer part sales, and I always believed that whatever makes it easier for the customer do do business with me, within reason, is worth the expense.geek Quote Link to comment Share on other sites More sharing options...
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