Any downside to a Paypal Premier account?

Hey guys,


Looking to flog some bits and pieces regularly and looking into upgrading my Paypal account from a personal one. Currently on my account, money received costs me €0.35 for receiving, and then 3.4% of whatever I get. Buying things doesn't cost me anything.


They say that if you want to sell stuff you should go to a Premier or Business account. I believe a business account has to belong to an actual business, though, and have a VAT number, etc. associated with it.

A Premier account is someone selling a few things routinely, but not actually selling loads or bringing in lots of money.

So I've searched a fair bit, and all the information i can find seems to only relate to the USA. Searching on Boards wasn't much help.

According to the Fees page on Paypal, they charge between 1.9% - 3.4% depending on the sum of money I receive, and they don't charge me for buying things.

It doesn't say anywhere if that'll change by upgrading to a premier account or not, though.


Anyone here actually have a Premier account? Can you give a straight-forward comparison of the differences in fees or what changes, exactly?


Cheers

jor el

There is never a fee for buying, as the recipient pays. Apart from the higher allowances for sending/receiving, I don't think there's any difference in what it will cost you to receive money. They're already charging you the max with your personal account anyway.

Dr.Dre

KKV wrote: »

Hey guys,


Looking to flog some bits and pieces regularly and looking into upgrading my Paypal account from a personal one. Currently on my account, money received costs me €0.35 for receiving, and then 3.4% of whatever I get. Buying things doesn't cost me anything.


They say that if you want to sell stuff you should go to a Premier or Business account. I believe a business account has to belong to an actual business, though, and have a VAT number, etc. associated with it.

A Premier account is someone selling a few things routinely, but not actually selling loads or bringing in lots of money.

So I've searched a fair bit, and all the information i can find seems to only relate to the USA. Searching on Boards wasn't much help.

According to the Fees page on Paypal, they charge between 1.9% - 3.4% depending on the sum of money I receive, and they don't charge me for buying things.

It doesn't say anywhere if that'll change by upgrading to a premier account or not, though.


Anyone here actually have a Premier account? Can you give a straight-forward comparison of the differences in fees or what changes, exactly?


Cheers

I would stick with the personal account.

With the premier account paypal are now requesting business info like what categories you will be selling and proof of ID and address as part of new EU regulations to stop money laundering!

If you are just flogging off a few items i would stick with the personal.Trust me on this one!

jor el

Dr.Dre wrote: »

With the premier account paypal are now requesting business info like what categories you will be selling and proof of ID and address as part of new EU regulations to stop money laundering!

If you are just flogging off a few items i would stick with the personal.Trust me on this one!

That law applies to any account once you pass a certain amount of sales. Anti money laundering cannot be bypassed by using a personal account, and to suggest methods of avoiding it would be fraud. This is also an old thread, with no need to be resurrected. There is no reason not to use a premier account.