Thursday, July 22, 2010

Using Paypal without paying fees: cleared funds

PLEASE VOTE WHETHER THIS GUIDE WAS HELPFULL OR NOT. THANK YOU!There is a way for sellers to accept money on paypal and NOT have to pay the horrendous fees that comes with accepting money through paypal. This is referred to as having "cleared funds".Normally, if a seller accepts payments through paypal they have to upgrade to a premier account. This means that out of every transaction 3.4% + 20 pence go to paypal. If you sold a camera for 200 they would take 7 out of your winnings on top of all the ebay fees.But if you don't upgrade, there's a way to still accept money. SELLER: DO NOT UPGRADE TO A PREMIER ACCOUNT! Just stick with personal account for cleared funds to work!Just write you require "cleared funds" if using paypal into the auction and link it to this article!Here's how it works:The buyer must have a bank account linked to paypal. They then transfer the appropriate money to THEIR paypal account first which normally doesn't take any time at all if they already had a bank account set up with paypal. Then, once their paypal account shows the appropriate amount, they can click "pay now" in ebay just as normal.The main difference here is that the money travels from bank account -

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