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Old 30-09-2006, 02:01 PM
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janoskiss (Steve H)
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Question paypal: receiving payments

For the life of me I cannot find any info on this on the Paypal website or in my Paypal profile, so I thought I'd try here on good ole reliable IIS.

Those of you who have used paypal to receive payments, is this set up automatically? Will just a normal account with credit card info entered do? If not, then what is the cheapest safest way to set up the account for receiving payments?

Thanks in advance.
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Old 30-09-2006, 03:32 PM
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iceman (Mike)
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I think you have to "upgrade your account" to be able to receive payments (it's been a while since I did it).

The money is stored "in" paypal when someone pays you via paypal. These days, you can set up a bank account so that money can be "withdrawn" from paypal into your bank account, and also the bank account can be used as a source of funds when making a payment of your own.

I've done that, and it works well. No fees etc.

Just remember that when you receive a payment via paypal, you are hit with a 2.5% surchage. So if someone pays you $100, you get $97.50 of it. The percentage goes down the more money you transact through paypal, but that really only affects businesses.

These days it seems common to pass the paypal surcharge to the buyer, which I guess is fair. It's like a shop who increases their prices because their merchant charges have gone up.

Hope that helps.
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Old 30-09-2006, 03:50 PM
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Striker (Tony)
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Steve....I have the standard membership and have received payments a few times.....like Mike has mentioned there are fees payed by a percentage for the service though.

All they need is your email address to send money to you.
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