For many of us, yesterday did come early this month! But whether you like it or not, this is NOT the place to voice your opinion on the changes sweeping across the Universe. Please help your fellow faatizens to better understand how to use Paypal from the basics to the advance. Ask your PP questions and I'm sure someone will respond with good solid information. Again, no sparring here (I'll have Beth remove messages that derail this most important topic in your lifetime!)
This is UK site but I understand USA is exactly the same, just the law quoted is different
When you open your PayPal account, you are only asked for the essential information so that you can start using your account straight away. To allow us to do this, all PayPal accounts are initially ‘Unverified’ and have limits on sending, receiving and withdrawing money. To lift these limits and to comply with EU law, we will ask you to verify more information about yourself.
To lift your limits , you will need to complete the following these steps:
Log in to your PayPal account at www.paypal.co.uk
Click the 'View Limits' link on the ‘Account Overview’ page
Tick the boxes next to the limits you wish to lift and click 'Lift Limits'
Follow the instructions to lift each one
Note: Once you've reached the initial limits, the only way to use your PayPal account to send and withdraw money is to complete the required Verification steps.
i've never had a limit on a transfer...i transfer every penny within minutes of getting my e mail that the money is in.
that said, my clients are usually paypal customers and their funds could already be sitting in their accounts and verified.
my e mail notices tell me that the funds are verified and guaranteed....so i transfer it all out.
business account, btw, wings....
john and i are talking about this behind the scenes...he's calling pp now to ask.....he has had a percentage held back for x number of days...i am guessing because the funds are not yet guaranteed.
no mary....and you don't have to keep any money in the account either.
i only have money in my pp account for a few minutes after each transaction.
if you are interested in using your pp account to make purchases online, then, obviously, you need a balance.
What if you are being paid from several sites. One person in the "other" thread said we would be using the email we use to sign into FAA. If I have other email addresses linked to other web sites, do I need to have them switched all to the one I use here in order to get paid from the other sites? I don't think you are allowed more than one email address on Paypal, right? I'll stop asking questions after this one and read the Paypal site....just looking for basic info..thanks.
For security reasons, there are initial limits on the amount of money you can withdraw from your PayPal account each month. Until you complete the steps to remove the limit, you may only be able to withdraw $500.00 per month. The start of a month is determined by when the PayPal account was opened (for example, May 15 to June 15).
You can lift this limit by linking and confirming your bank account or verifying your credit or debit card information.
Here's how you can view and lift your withdrawal limit.
Log in to your PayPal account.
Click View Limits near your name on your Account Overview.
To lift your withdrawal limit, click Lift Limit.
no, mary, you will go to payment information and use the e mail address that is linked to your paypal account, not the one linked to your faa account.. the e mail address you gave to paypal.....that's the one that faa needs in order to transfer your monies owed into the pp account.
Some have suggested to open up a separate bank account to house your paypal account.
- If a hacker gets into my paypal account that is linked to this separate bank account, can he/she use the money from this separate bank account?
- If yes, sounds like it would be wise to not only withdrawal all monies that come into your paypal account into this separate bank account, but also to withdrawl most monies that go into this separate bank account into your primary bank account? This way if a hacker uses your paypal account, there would be little to no money in the separate bank account to draw from as well?
the one thing that should be noted - you can only have one paypal account. if you have two - you could be locked out of both. so any one assuming they need a special one just for here could get into trouble down the line, someone should double check that. it's a good thing to know.
to be honest i don't know how it works, but it's best to go over they very long terms of service. i assume that if you pay for one, then you can have a free one too, but it's something that should be looked into.
There's a 2.9% + 0.30 cents transaction fee to accept payments. Is this the fee that FAA is going to cover? How is that cover? Is there an option in paypal for the payer to pay that fee instead of having the recipient pay it? Or is FAA adding that fee to our payouts so we still pay the fee but from the payout+added fee by FAA?
wings, you are making it far more complicated than it is.
sean has already stated that he covers the fees.
i used paypal last week for an internet original painting sale. i sent an invoice through paypal to my client. when my client paid, 2.9% plus 30 cents was subtracted from the amount and the balance was put into my account.
that is how it works if it is NOT an faa commission payment.
How long does it take a sale to show up on your paypal account? I have a personal PP account and just sold a print today, first one since signing up with PP. Also, since my account isn't verified can I make purchases?
@ Marlene - Regarding your statement "if you are interested in using your pp account to make purchases online, then, obviously, you need a balance." That's partially true. I am still using a personal account with the $500 monthly limit until I start earning more than that on my photography. However, I also use it occasionally to pay for an online service related to my photography business that only takes PP payments. I do like you do and transfer any payments out of PP into my bank account as soon as I get the notice they are there. So I never have a balance in my PP account. To pay something from my PP account, I simply tell PP to use my checking account. I guess they withdraw from my checking and pay my payee from my PP account.
@Holly add in your Behind The Scenes | Payment Info, the email you use to log into Paypal
@Jessica There are three types of Paypal accounts: Personal, Premier, and Business.
Personal accounts are, obviously, for the personal use of individuals. They can accept up to five (5) credit or debit card funded payments per year and are assessed a transaction fee. Other payments received are not charged a fee.
Premier accounts are for members who have a high transaction volume or would like to access Paypal’s Core and Premium features (explained below). Premier accounts may operate under an individual name. Unlike Personal Accounts, they can accept an unlimited number of credit or debit card payments. However, all payments received are charged a certain fee. (Paypal’s fee schedule here.)
Business accounts are for businesses, allowing them to operate under a company or group name and accept payment from customers without PayPal accounts. Like Premier accounts, they can accept an unlimited number of credit and debit card payments, although all payments they receive are charged a certain fee.
that may be true but I do not have the routing numbers......can they not just use the info that I have? Or is it easy to just ask for them and get them from the middle person that I talk to which is not the bank itself.
i would suggest you go sign up for an account t paypal and they will tell you exactly what they need
if you want money transferred from your pp account to your checking acount, they will have to have the routing number...which is printed on your checks.
there is no way around that.
if you don't want the money to be transferred, then you have other options...but go to the site and read their explanations. ;)
I have paypal......they were not able to answer my question either. I am sure I can find the answer I need. I just thought someone here may have had this issue and the answer more quickly. So no problem.....Yes!
ok, what exactly is the question? your routing number is printed on your checks...
tif you want money transferred, pp will need that number, your account number in order to transfer the funds.
any thing else?.
I just opened my pp account recently. There is an option in the withdrawal menu that allows them just to send you a check in the mail. It costs $1.50 and takes 5 to 10 days. That way I don't have to worry about problems with freezing bank accounts and other security issues. Of course if you just sell one greeting card, it won't do you much good.
Apparently I have to pay a withdrawal fee for transferring from my pp account to my bank account if it`s less than $150. I`ve been reading here that FAA pays the fee, but when I go to do the transfer, pp wants to charge me a fee. Does FAA pay only for Americans?
PayPal told me there is a 2.9% charge to my account plus a $ .30 transaction fee IF monies,FUNDS are sent to my PayPal. How is this compensated for from FAA? Is it added to the money FAA owes me in the transaction?
Also there was suppose to be credited as per FAA's confirmation of payment for my sales that FAA paid my PP account on June15, 2012 at 1:59 pm. Well, I looked at my PP statement because I was not notified by PP of such transaction and I called PP Cust Svce, The rep on the phone said no such transaction of the monies from FAA has/or had occured. Told me the problem was with FAA. to get a hold of FAA...... SO NOW WHAT!
Regarding the 2.8 percent fee for selling originals. the best way to approach that is to calculate the fees and shipping costs and include it in your price. That way the potential buyer will not get overwhelmed with the added costs. You can include a statement in your bio that indicates that the prices include shipping and processing costs.
I was not referring to "Original Painting" sales, but prints that are sold by FAA, but thank you for replying.
There is another issue at hand here, getting credit in my PayPal account after FAA had said that they sent it thru to my PayPal Account on June 15 and the commission hasn't shown up in PayPal Account and PP said no such transaction was recorded.