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Receiving money with Personal Paypal account

  • 26-07-2007 12:53pm
    #1
    Irish Wolf
    Registered Users, Registered Users 2 Posts: 2,178 ✭✭✭


    For the life of me I can't figure out the fee structure for receiving money to a personal paypal account... can someone please explain this to me..

    Where it states that you'll be charged x% for receiving payment from a credit card funded payment - what exactly does this mean? For instance, I usually have a zero balance on my paypal account and when I make a payment using paypal I use my credit card to fund the payment - but from what I can see it first gets deposited into my paypal account and then sent on to the receiver... is this defined as a paypal funded transfer or cc funded transfer (i.e. will the recipient get charged the x% in fees deducted from the payment?)

    I'm looking for a way of collecting money for a sweep stakes and I thought paypal would do the trick, but it's beginning to look like €10 could very easily become €9 by the time it gets to my account...


Comments

  • #2
    A Dub in Glasgo
    Registered Users, Registered Users 2 Posts: 17,575 ✭✭✭✭A Dub in Glasgo


    You cannot accept a credit card funded payment into a personal paypal account. Once you accept a cc payment you are upgraded to a business account and all the money you will recieve will have fees deducted no matter the source of the money.

    I would avoid paypal for what you want do to.


  • #3
    Irish Wolf
    Registered Users, Registered Users 2 Posts: 2,178 ✭✭✭Irish Wolf


    A Dub in Glasgo wrote:
    I would avoid paypal for what you want do to.

    Beginning to think the same thing myself - any suggestions how it may be best to do it?

    If not, sure all's not lost - I can still run it for a bit of fun...


  • #4
    A Dub in Glasgo
    Registered Users, Registered Users 2 Posts: 17,575 ✭✭✭✭A Dub in Glasgo


    Not too sure on banking charges from the wonderful Irish banking system but over here I pay into a lottery syndicate by standing order - no fees at all


  • #5
    Irish Wolf
    Registered Users, Registered Users 2 Posts: 2,178 ✭✭✭Irish Wolf


    Hmmm.. not too sure I'd be willing to hand out my bank details willy-nilly.. that's why I thought paypal would be a happy medium - offering some kind of protection for both parties...

    Thanks for your help..


  • #6
    A Dub in Glasgo
    Registered Users, Registered Users 2 Posts: 17,575 ✭✭✭✭A Dub in Glasgo


    Giving out your bank details is no different than sending a cheque to somebody!

    Paypal will give you that protection although you will (or your clients) will pay for that


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  • #7
    Irish Wolf
    Registered Users, Registered Users 2 Posts: 2,178 ✭✭✭Irish Wolf


    A Dub in Glasgo wrote:
    Giving out your bank details is no different than sending a cheque to somebody!

    True.. I'll float it out there and see what the response is.. just need to check the fees (if any) involved in doing this..


  • #8
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    You could open a new account for this. If you already have an account there should be no problem setting up a 2nd one. If you go with Halifax or PTSB then there's no fees for you in receiving the SO or DD.

    A 2nd account would also protect you as anyone querying the amounts would be able to see the statement without them seeing all your own transactions.


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