PayPal merchants rates, and why I'm feeling pretty stupid right now.
Russ
Posts: 48,514 ✭✭✭
I always assumed that one had to upgrade from Premiere to Business in order to get the lower rates, so I didn't bother. Just found out I didn't have to. 
Now signed up, and dropped to 2.2%. Woo hoo!
Russ, NCNE
Now signed up, and dropped to 2.2%. Woo hoo!Russ, NCNE
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<< <i>Details please Russ..........Rick >>
PayPal provides lower rates based on monthly volume. Regular rate is 2.9%, and then they have merchant rates of 2.4% for over $3K, 2.2% for over $10K, and 1.9% for over $100K.
Russ, NCNE
<< <i>I always assumed that one had to upgrade from Premiere to Business in order to get the lower rates, so I didn't bother. Just found out I didn't have to.
Russ, NCNE >>
Hi Russ: Didn't someone just say you had to give paypal your life history, SS#, etc. to get that rating?
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<< <i><< I always assumed that one had to upgrade from Premiere to Business in order to get the lower rates, so I didn't bother. Just found out I didn't have to. Now signed up, and dropped to 2.2%. Woo hoo!
Russ, NCNE >>
Hi Russ: Didn't someone just say you had to give paypal your life history, SS#, etc. to get that rating? >>
They already had all that stuff on me. They demanded it so they could run a credit report the first time I transferred over $10K out of the account.
Russ, NCNE
<< <i>Something I said? Again!
That's my job.
<< <i>
<< <i>Details please Russ..........Rick >>
PayPal provides lower rates based on monthly volume. Regular rate is 2.9%, and then they have merchant rates of 2.4% for over $3K, 2.2% for over $10K, and 1.9% for over $100K. Russ, NCNE >>
Russ, this is the must financially useful post I've seen in a while. Off to sign up. Thanks, Jerry
<< <i>Thanks Russ. I just filled out that app. and in 30 secs my rate went from 2.9 to 2.5%. >>
It's immediate, also. Your very next transaction will reflect the new rate.
Edit, I guess it's 2.5% rather than the 2.4% I thought it was at that level. Other numbers are correct, though.
Russ, NCNE
<< <i>How many months do you have to do over 3K? >>
One. The following month the rate drops, and fluctuates month to month based on volume. If you drop below one of the threshholds in a month it goes to the next highest rate the following month, and vice-versa.
Russ, NCNE
Looks good.
I'd like to add you need 3K in the previous month to sign up.
But, as Russ stated, once your in, your in.