Pay Pal Question

[Evo Mike]

Hey, i'm tryin to sell some parts online and this guy insists that we use paypal. I know it costs me a percentage of however much i make per sale , but do i have to pay a membership fee? per month, per year, etc? and how does it work? will the money be put in my bank first?

thanks

[Nick Koan]

If he pays with a bank transfer or paypal money, you will get to keep all of it I believe. I think you can get them to transfer money into your bank account or write you a check or something.

But, if he wants to use a credit card, then you have to sign up for a different account, which will allow you to take credit card transactions but paypal will take 3% (I think, I can't remember) out of every transaction including bank transfers and paypal money (that was previously free).

I'm pretty sure there isn't a monthly/yearly/etc. fee for either of those services.

[Dean]

Nick is right. If you don't plan to do it regularly, agree to bank transfer only, and setup a personal account. If he insists on a credit card and you set up a comercial account, then you will pay a fee on every incoming payment in the future, credit card or not.