I keep hearing this about how I'll have to upgrade my Paypal account.
Fortunately, this isn't quite how it works.... Below is the policy
change concerning credit card payments quoted straight from the Paypal
site.
*start Paypal policy quote*
Entry Date: October 2, 2000
Effective Date: October 16, 2000
In order to reduce the cost of credit card processing associated with
accounts that do not pay fees, on Monday October 16, PayPal will
introduce a new limit on Personal Accounts: a $500 limit on receiving
credit card payments every six months. Payments funded from the
sender's bank account or existing PayPal account balance will not count
against the recipient's limit. Recipients exceeding the $500 limit will
no
longer be able to accept credit card payments unless they choose to
upgrade to a Premier or Business Account. Credit card payments sent to
a Personal Account in excess of the limit will be held as "pending"
until
the recipient chooses to accept the payment by upgrading or to return it
to the sender by refusing the payment. Personal Accounts exceeding the
limit will still be able to receive payments funded from a bank account
or existing PayPal account balance.
*end Paypal policy quote*
The way I read this, the $500/6 month limit is only for payments
received from buyers that have tied their Paypal accounts to a credit
card.
It also appears that $500/6 month limit is a "sliding window" type of
arrangement. Once old payments expire after 6 months, you then once
again fall under the $500 limit, and can receive payments tied to credit
cards...
--
Jim
Gary Reese wrote:
<snip>
>
> Anyone buying or selling over $500 per year *IS* now business account on
> PayPal. How long did folks think they could go on loosing money?
>
<snip>
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