Merchant Services fees

[TT350]

Hi

I’m currently using a virtual terminal/merchant service

through my bank.

There rates vary if the card is “qualified” or “non qualified”

All business and government cards get charged a higher rate, same as a non qualified cards.

Are the rates that PayPal advertises the same for all

card types? Visa, MasterCard, Amex and Discover?

My current merchant services provider takes there fees and charges out at the first of every month.

It is difficult to calculate the fees and has become an unpleasant experience.

Do you take the transaction fees of .30 per transaction

and the percentage that I’m qualified at out of the transaction at the time it’s made, like you do when I use my regular PayPal account?

And the $30.00 monthly fee would come out at the first

of every month?

Thank you for your time

James Bounds    

[skier]

The $30 monthly fee only applies to PayPal's Website Payments Pro.  You are charged this fee each month, sale or no sale. 

As for fees, they are explained here.

The basic fee is 2.9% plus $.30 per transaction.

Example, you sell an item for $100.

PayPal will assess the 2.9% which is $2.90.

PayPal will also charge the $.30 per transaction.

Total fee applied is $3.20 which will be deducted from the $100 leaving you with a balance of $96.80.

Regards,

skier

[TT350]

I understand that the $30.00 monthly fee is charged whether you make a sale or not but

does the .30 cent per transaction fee and the 2.9% of the sale fee come out of your account

at the time of the sale or does PayPal allow them to accumulate and take the at the first of the next month?

[skier]

Yes, each individual transaction is assessed a processing fee just as clearly explained on PayPal's web site.

Regards,

skier

[TT350]

Let me try this again.

I make a $100.00 sale. the transaction fee is .30 that leaves $99.70, there is a 3.0% fee coming out of the $100.00 sale leaving me with $96.70.   

Now there where $3.30 in fees from this sale.

Do they take the $3.30 out at the time of the sale and post $96.70 to my account

or do they let all the months sales add up and take the fees at one time at first of the next month?

[skier]

Fees are assessed at the time of the individual transaction, as previously described, 

Regards,

skier