PayPal Hacks

Chapter 3. Selling with PayPal

Introduction: Hacks #17-27

From accepting occasional donations to receiving payments from thousands of customers, PayPal provides the tools and support you need to build your business. Rather than having to complete a complicated and costly application for a merchant account so that you can accept payments, all you have to do is fill out a form at http://www.paypal.com, and PayPal will handle all the dirty work. To get started, all you have to do is to set up your PayPal account for accepting payments.

PayPal offers three types of accounts. All of them can be used for making and accepting payments, but each has its own unique features:

Personal

Personal accounts [Hack #1] are the most common, because they are what most new PayPal members choose by default. Most buyers who use PayPal to make payments have a Personal account.

There is no fee for sending or receiving payments with a Personal account, but there are limitations. Personal accounts cannot receive payments funded by credit cards; since many PayPal buyers like to fund their payments with a credit card, a Personal account severely limits a seller’s customer base. Also, Personal accounts are limited to receiving $1,000 in payments per month.

Premier

Premier accounts can accept payments funded with credit cards. There is no fee for sending payments with a Premier account, but there is a fee for accepting payments, no matter how they are funded. Premier accounts also include a host of features to ...