I had been using a Paypal Personal account for some time now to receive Paypal to Paypal funds from advertisers. I never knew that I would ever need to upgrade to a Premier account before yesterday.
Both Personal and Premier accounts are free during sign up..there’s only a difference in fees when receiving funds. Personal accounts can receive funds from anyone provided they too are sending money to you using Paypal, and that is a free transaction.
Personal Accounts can Accept the following funded payments for free:
* PayPal Balance
* PayPal Instant Transfer
* PayPal eCheck
But Premier accounts accept the above payment types at a fee of 3.9% + $0.30 USD for funds below $3000. That is quite high if I were to accept payments as low as $10 weekly and have to pay 3.9% + 0.30usd. However, Premier accounts become necessary when somebody is paying you using their credit card, which was what happened to me yesterday. I made a deal with an advertiser to accept USD70, but because of my Personal account, I receive only USD65.92. This is because Personal accounts receive Credit and Debit Card payments with a fee of 5.9% + 0.30 USD charge. With a premier account, you get the same charge of 3.9% + 0.30 USD.
So I was thinking to upgrade, but if I do, other transactions that are not using Credit and Debit card also need to be charged. Until later I found out that I can actually apply a separate Paypal account with another email address and another Credit card for verification. So in the future, I will use my Premier account for such Credit Card and Debit Card payments, and the Personal account for Paypal to Paypal payments. So all problems are solved now.
Premier accounts are great for larger transactions and more transactions for your business to grow.
Premier accounts include all the benefits of a Personal account. You also have the ability to:
* Accept all payment types for low fees
* Set up your PayPal Shopping Cart
* Access exclusive, professional customer service seven days a week
* Be identified as a Premier account in your reputation pop-up box
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One Comment
i also have a problem with my personal account as i can’t accept an unclaimed payment until I ugrade to premier.. i just wish paypal will just give premier users a fix fee for a whole month and not per transaction.