Friday, April 21, 2006

Okay - time for my latest headache.

In case you are unaware, there are three levels of PayPal account. The "personal" account does not accept credit cards, but can receive funds from direct transfer or echeck at no charge (up to $500 per month).

If you have a "premier" or "business" account, you can accept credit cards, but EVERY transaction gets hit with a charge of $0.30 + 2.9% of the transaction, whether it's a credit card charge or not.

Since I end up selling a lot of items at small amounts (like $0.99), and I'm already paying eBay's listing fee ($0.20 for an item up to $0.99) and final value fees, I'd end up making next to nothing if I got socked with a PayPal charge on top of it all. So, my account is just a personal account.

But, you can drive away customers if you announce "no credit cards" on your auctions. My wife has a premier PayPal account, and can accept credit cards. If someone wants to use a credit card, I ask them to send the funds to her account instead. This causes some problems sometimes (since few people actually read their invoices, and they just click on the "Pay Now" button), but most people are understanding when I deny their payment and send instructions on how to send to my wife's account.

BUT, for the first time ever I have run up against my $500 limit in my PayPal account! If anyone tries to pay me between now and Tuesday 4/25, I can't accept the funds. But I have several auctions ending on Saturday and Sunday. What to do?

My wife and I have a third account, which is also a personal one. So what I am doing this morning is going through my 76 auctions and revising each one, replacing once PayPal account with another, so the funds go to an account which can actually accept them. And I'm not sure I can edit the ones which already have bids on them - the very ones which are the most likely to need the change!

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