If you're new here, you may want to subscribe to Get AbdulVasi.com articles delivered by email. Thanks for visiting!
Paypal is one of the best innovations made in the electronic payment methods. Paypal has become the preferred payment choice for many buyers and sellers. It is free to own a paypal account and it allows 3 types of accounts to be created. They are Personal, Premier, and Business accounts.
A user will have to select the correct mode of account type while signing up. All the payments are subjected for fee which is paid to paypal either by the receiver or by the sender. Until recently, there was no fee for the payments received in the personal account. But paypal has revised the fee structure. Under the new policy, even the personal accounts should pay a certain amount as fee when they receive payments.
If an individual holds a personal account and receives money from his business partners or vendors, fees will be deducted. Transactions which are made between a personal account to another personal account alone will be exempted from the fee. Student’s accounts are also exempted from this fee.
The sender will decide on who will pay the fee. The transaction is made free for transactions made in US alone. All other transactions are subjected for fee. The fee varies from 1.9% to 3.9% with an addition charge of 0.3$. Under this policy, if an individual holds a personal account and makes business transactions then his account may be terminated by paypal.
More details on the fee can be viewed on this link.
https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/UserAgreement/ua/USUA-outside#fees-policy
