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Author Topic: Paypal Personal vs Paypal Business  (Read 12336 times)

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« on: December 10, 2006, 12:34 »
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If I change my personal account to a business account, if I understand it right then each payment received from the photo stock sites, which are free now, will be charged, is it so?

Regards,
Adelaide


« Reply #1 on: December 10, 2006, 12:40 »
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i think some of the sites like dreamstime, it won't cost you, others it will.... but perhaps someone else is smarter in this area.  I have 2 accounts, one business and one personal, and get all payments sent to the personal account.

« Reply #2 on: December 10, 2006, 13:12 »
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leaf,

Thanks for your reply, I hope someone can clarify this to me.

For the time being, I'm sticking to the personal account, but if things really pick up at Paxxion, the personal account won't be a choice anymore for this site, so I would have to open a second account too, if my understanding of the fees is right. 

Regards,
Adelaide

dbvirago

« Reply #3 on: December 10, 2006, 19:40 »
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i Have a business account and have had payouts from SS, IS, F, and BS and have not paid a fee. I've read the explanation on another board, but can't remember. I think the fee has more to do with how the payer pays than your account. Also, when I have paid a fee, it's not bad. Had a $75 payment from one client and the fee was 2.48

OTH, the only reason for a business account is to accept CC payments.  I got the account for some ebay business, but don't really know how often it has been necessary.

Hope this helps.

« Reply #4 on: December 10, 2006, 20:02 »
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Yes, business is only if you want to process CCs, and use some of the other advanced tools - ebay....

The basic personal account has a monthly receiving and withdrawal limit of $500. If you provide 2 forms of identification (Verify the account) the amount changes to unlimited I think. I was able to receive and transfer more than $500 this month. I think the forms of identification include a social security number, bank account number, and something else. And there are no extra fees.

« Reply #5 on: December 11, 2006, 01:20 »
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yeah i believe that is right asiseeit.  My personal account doesn't have any limits.

I think with a business account, if the payer pays with a paypal balance, which many micro sites probably do, then you won't incure a fee.  If they pay with a credit card (or perhaps bank account??) then you will be charged with a fee.

« Reply #6 on: December 11, 2006, 09:28 »
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My personal account have two limits... 500$ per month and 2250$ total... I wonder what "total" means...

« Reply #7 on: December 11, 2006, 09:39 »
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I believe Canstock and StockXPert charge a fee.... SS, iS, FT, DT no fee.

dbvirago

« Reply #8 on: December 11, 2006, 10:45 »
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Something else I forgot, and I don't know if it is only business account. You can join their money market for free. On my balance, it pays around $5 a month. Enough to cover some fees. Nothing to lose.

« Reply #9 on: December 11, 2006, 10:58 »
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what???? where did you find that.  I have never heard of the paypal money market???

where do i sign up, or where do i find it in paypal?

« Reply #10 on: December 11, 2006, 14:46 »
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what???? where did you find that.  I have never heard of the paypal money market???

where do i sign up, or where do i find it in paypal?

Same here! where is it... I can't find it in PayPal? Thx! :D

dbvirago

« Reply #11 on: December 11, 2006, 20:32 »
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Not sure, got an email or popped up on the site. I'm earning 5% right now. Email their support. I did find in help that it's U.S. only. sorry

« Reply #12 on: January 14, 2007, 06:13 »
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Limits are for me NOW those:
-750/month (euros because it is PayPal Italy...) limit in receiving payments
-2250 life limit
No charge if I withdraw more than 100 at once.
The bad thing is that when the 2250 limit is reached I cannot use more the account or I have to switch to a verified account. Still don't understand totally cons/pros of making this change.
Regards

dbvirago

« Reply #13 on: January 14, 2007, 08:01 »
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Don't see a con. For microstock, I don't pay a fee when they pay me. It allows me to get credit card payments for my ebay stuff. For those, I pay a small fee. I did some contract work last year on some photo shoots and for those payments I paid a fee, about 3%, but I have recd payments from 5 ms sites and never a fee.

« Reply #14 on: January 14, 2007, 09:35 »
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dbvirago,

In the Business account, are you charged anything when you get payment from any of the microstock sites?

Regards,
Adelaide

vicu

« Reply #15 on: January 15, 2007, 11:40 »
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dbvirago,

In the Business account, are you charged anything when you get payment from any of the microstock sites?

Regards,
Adelaide

SOME of the agencies have a bulk payment arrangement with PayPal which allows their contributors to receive payments (even to their business accounts) without incurring any fees of any kind. iStock is definitely one of those agencies. Others are listed in the posts above, though I do not have first hand knowledge of others who have this arrangement. You will need to check with the agency because, as also mentioned above, it has to do with the payer and not the payee's account (and thus would not be information readily available from PayPal or their site).

« Reply #16 on: January 25, 2007, 05:10 »
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FINALLY got verified

All the following figures are in Pounds

If you have a unverified personal account

you can receive 250 /month
you can withdrawl 500/month

until you withdraw a total of 1,500 then you HAVE to get verified to withdraw any more money

Verification is a three step process

1 - provide your bank account details (if you have been withdrawing money they have that anyway) they deposit two small amounts in your account and you have to enter those on the paypal site.

2 - provide credit card details *

3 - provide your landline phone number you receive an automated call and you have to enter a number on your telephone.

* I eventually received a letter with a six digit code at the address my credit card bills go to which I had to enter on the site.
(I had to e-mail to ask what the **** was going on I gave them my credit card details back in November)

Then you are verified and you can withdraw with no limits any withdraws less than 50 incur a 25p fee over 50 no fee.

HOWEVER you still have the 250/month receiving limit. This limit resets on a particularly day each month (the anniversary of the day you opened the PayPal account).

If you want to receive more than 250/month then you will have to upgrade to a premier or business account, whetre you may incur fees.


According to Kiya + GeoPappas if you have a premier or business account

no fees on receiving money from SS iS FT DT StockXpert
but fees from CanStockPhoto??

anyone know about 123, FP, BigStock?

Monthly receiving limit UK/ Euroland/USA 250/ ?? ? ??
monthly withdrawl limit UK/ Euroland/USA 500/750E/$750
total withdrawl limit UK/ Euroland/USA 1,500/ 2,250E / $2,250

« Last Edit: January 25, 2007, 07:28 by fintastique »

« Reply #17 on: January 25, 2007, 06:51 »
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According to Kiya if you have a premier or business account

no fees on receiving money from SS iS FT DT
but fees from StockXpert + CanStockPhoto

anyone know about 123, FP, BigStock?

I have no idea how PayPal works.  I have read conflicting statements from various people on whether they charge fees or not.  I was very cautious about getting a payment thru PayPal, so I decided to try one site at a time.

Here are my results:

- I have a Premier account

- I have had payments from iStockphoto, Shutterstock, Dreamstime, Fotolia, and Stockxpert

- None of the payments had PayPal fees (or any other fees)

So my results show that the Premier account does not take fees.

« Reply #18 on: January 25, 2007, 06:57 »
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For those who live outside Western Europe and North America, there may be "surprises" on the way. I live in Thailand, and my bank here apparently don't want cards issued by them to be used as verification for a PayPal account, so I had a big red and yellow message appearing on my monitor when I tried.

This may be because I'm a foreigner her, and as such not trustworthy, but it also means that I'm not allowed to withdraw money from PayPal to my Thai bank account at all.

End result is that I use Moneybookers instead, whenever I can, since whatever money I receive on PayPal can only be used for web-shopping or transfers to other PayPal accounts.

« Reply #19 on: January 25, 2007, 07:23 »
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Epixx

would you care to share details of charges/limits incurred using Moneybookers as I understand it there is a fee when you transfer funds to a bank account.


« Reply #20 on: January 25, 2007, 07:43 »
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Epixx

would you care to share details of charges/limits incurred using Moneybookers as I understand it there is a fee when you transfer funds to a bank account.



The fee that Moneybookers deduct, has for my transactions so far, been around USD 2.5. Here in Thailand, my bank charges me as well, but that will vary depending on which bank and which country. Banks in Thailand charges a lot when they know that you have no choice :-[

« Reply #21 on: January 25, 2007, 07:46 »
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As an added piece of information: what I like about MB, is that there's very little fuzz. It's just like a normal bank, and their website is the most boring in the world, but very functional. They are also very fast, but then I don't have much experience with PP. Money from SS is usually in my local account 4-6 days after the end of the month.

« Reply #22 on: January 27, 2007, 15:48 »
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I am in Canada and use PayPal for iS, DT, and StockXpert. Have never had a fee charged, but if I am transferring to my bank, then I believe there is a minimum of $150. for a free transaction?


 

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