How does paypal merchant account works
By kingparker
@kingparker (9673)
United States
November 10, 2011 8:08pm CST
I only have a regular paypal account, and it can not accept credit card payment. I have read through paypal policy and FAQ, the only method to accept credit card is through paypal merchant account. So, if I upgrade to merchant account, how much will it charge me per transaction? Does it have a certain charging rate, like $1 - $500 for certain amount of charge, and $500 - $1000 have another certain amount of charge? Are there any method that I can accept credit card charge? Only open a business account from the bank? Any advice?
1 response
@Noseclams (149)
• United States
11 Nov 11
My buddy has a merchant account and i am pretty sure he said that they take a percentage of each payment you take. i can't remember for sure but it's either 5 or 10%. hope that helps.
@kingparker (9673)
• United States
11 Nov 11
Wow, that much, like $100 transaction, they will charge me up to $5 - $10 per transaction. Thanks anyway.
