Paypal Merchant Account Reduces Your Fees


Get a PayPal Merchant account - why? Because this will reduce the fees you pay to paypal from 3.2% to 2.9%

 

OK, not much but why not ?

 

You need to be earning $1500 per month or equivalent in your currency. We just applied for one of our sites of 4 years standing with Paypal and got approved immediately.

It’s not obvious at first what to do so follow these instructions and reduce your paypal fees.

1: Log into your account

2: Go to your profile page

3: Go right to the bottom and select fees

4: In this page listing all the fees click on the link under Premier/Business Account for the first list of fees

5:Halfway down this page you’ll get “How is Eligibility for Merchant Rates determined?
Eligibility for Merchant Rates is determined based on sales volume from the previous calendar month. To qualify for Merchant Rates, a seller must complete a one-time application and meet the Merchant Rate Criteria.”
Click on that last link “Merchant rate criteria”

6: Apply for your merchant account

7: We got accepted immediately but sometimes it takes time. The fees you pay are as follows :

 

Monthly Sales Price Per Transaction
£0.00 GBP-£1,500.00 GBP 3.4% + £0.20 GBP
£1,500.01 GBP-£6,000.00 GBP 2.9% + £0.20 GBP
£6,000.01 GBP-£15,000.00 GBP 2.4% + £0.20 GBP
£15,000.01 GBP-£55,000.00 GBP 1.9% + £0.20 GBP
above £55,000.00 GBP* 1.4% + £0.20 GBP
* Only applies to PayPal Express Checkout transactions on Website Payments Pro and Virtual

 

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