PayPal account type?  | |  What type of PayPal account is required to accept MyLot payments? Right now I have a Personal PayPal account. Do I need to upgrade to a Premier or Business account to accept payments?
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| | | | | | | | 1.  randomragdoll (201) | 1 year ago |  A personal account will work just fine. A premier account just allows you to accept credit card payments from people, but it's not necessary for much else.
(And if, in the future, a scenario should arise which would require you to upgrade, PayPal would notify you. There's no reason to upgrade preventively.)
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| mass2chaos (20) | 1 year ago | Thank You! You're response was very informative and quick. Helped me a lot. | |
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| | 3.  abyin007 (343) | 1 year ago | u need only personal account no need of premium or business account.. if u want u can upgrade to premum or business account... they are must must foe mylot... | |
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| | 4.  sirrob (2557) | 1 year ago |  Not necessarily, you are good with your current Paypal membership and that is quite enough. There is no preference whether you are personal or premier account holder as long as it is of good standing.
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| | | 5. bianroxas (1334) | 1 year ago |  Hi! I am from PayPal. I suggest since you will be receiving money from myLot that you may open for Premier account. Please read carefully below:
All Fees are in US Dollars.
Personal Account Fees:
Receiving Balance/ Bank Funded Payments Free
Receiving Card Funded Payments (limited to 5 per 12 month period) 4.9% + $0.30 for domestic payments
5.9% + $0.30 for cross border payments
Withdrawing your Balance Free to transfer to a bank*
$1.50 for a physical check*
*Plus the Exchange Rate & Fee if you are converting currency.
Exchange Rate & Fee The currency exchange rate is determined by PayPal based on the current market price and includes a 2.5% Fee. This Fee only applies when PayPal performs the currency conversion.
Business or Premier Account Fees:
Sending Payments (excluding Mass Payments) Free
Sending Payments through Mass Payments 2% up to a maximum of $1.00 per recipient.
Receiving Payments (applies to all payments) Standard rates:
2.9% + $0.30 for domestic payments.
3.9% + $0.30 for cross border payments.
*Plus the Exchange Rate & Fee if you are converting currency.
Chargeback Fee $10.00 unless you are protected by the Seller Protection Policy.
Exchange Rate & Fee The currency exchange rate is determined by PayPal based on the current market price and includes a 2.5% Fee. This Fee only applies when PayPal performs the currency conversion.
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