Paypal - how much does it cost?

[Pandora]

How much does it cost to have a paypal account to accept payments?
Are there ongoing, or hidden costs?

[Indadhanu]

Hi hun,

Totally missed this, sorry!

It doesn't cost anything to set an account up.

I *think* you can receive payments from family and friends, as personal payments, for free, unless they use a credit card (so its free if they use funds already in their PayPal account).

If its a payment from a credit card (or debit Visa/Mastercard) or payment for a sale:
you pay $0.30 + 2.4% off the payment.
So for a $100 transaction, you pay $2.70 in fees...
For a $30 transaction, you pay $1.02 in fees
The percentage rate goes down for following month if you receive more than $5000 in a month.

All this info is on their website too

The fees are ridiculous really, but so many people prefer to pay with PayPal, so you're shooting yourself in the foot if you don't accept PayPal payments!

[chopsticks]

The fees are ridiculous really, but so many people prefer to pay with PayPal, so you're shooting yourself in the foot if you don't accept PayPal payments!

actually considering there's no upfront cost, no monthly fees, no minimum spend, the fees are quite low comparatively to the rest of the industry. A good alternative is eWay if you're doing more volume.