Micropayments: 2 accounts require 2 different bank accounts?

[woodstockmck]

I am pretty sure this will just be answered "yep that's correct," but I would like some confirmation before I move forward.

I want to set up a second paypal account to deal with small payments, with micropayment. This would be a second account in addition to the normal business account with standard payments.

Does the second account need to be registered with a different bank account? Different email address? Entirely different financial institution or can it at least be the same bank, two bank accounts? It would save a lot of hassle if the two paypal accounts could have the same bank and email attached to them, but I have a feeling that is not possible. I haven't been able to confirm that browsing forums and info on the website.

Please confirm if I'm right about this.

Thanks

[Misty11]

Hello woodstockmck, 

This is a great question and can be very confusing, I hope I am able to help you better understand the process.

Depending on what you are selling on your website will determine how you will want to set up your accounts.  

Micropayments pricing offers special low rates to merchants who typically receive payments for under $10 USD. (You must have a PayPal Business or Premier account to qualify for micropayments pricing.)

Our micropayment rate is 5% + $0.05 USD per transaction.

Here’s how to sign up for micropayments pricing:

1. Go to https://micropayments.paypal-labs.com/.
2. Click “Signup” near the top of the page.
3. Select your country or region and click “Login here.”
4. Enter your PayPal account password and click “Log in.”

Allow 2 business days for micropayments pricing to take effect.

Micropayment pricing applies to all transactions regardless of the transaction amount. For example, with micropayments pricing, it would cost $0.25 to receive a $4.00 payment and it would cost $1.05 to receive a $20 payment. You would need to separate PayPal accounts.

However, this is only for micropricing. If you sell digital goods you can sign up for digital goods micropayments, this allows for both micro and standard pricing if the new Digital Goods checkout is integrated.

If you have a PayPal Business account, here's how to sign up for Digital Goods (Express Checkout):

1. Log in to your PayPal account.
2. Click "My Business Setup."
3. Click "view all products" under "Set up my payment solution" section.
4. Click "Add Product' under 'PayPal for Digital Goods (Express Checkout)."
5. Click "learn more and sign up" to sign up for micropayments pricing."
6. Click "Agree and Sign Up" to complete your micropayments registration.

Here is more information on Digital Goods.

I hope this helps.

Misty

[woodstockmck]

Thanks for the response, but our service doesn't qualify as digital goods unfortunately.

Again, the main part of my question: I know I need a second Paypal account to use micropayments; only about 20% of our business is under $12 orders. There isn't any way to use the same bank account for the two?

Thanks

[Misty11]

Hello woodstockmck,

I apologize, yes you are correct - you can not use one bank account on two separate PayPal accounts. You would need to open two separate PayPal accounts with different pricing structures - one with standard fees and one set up with Micropayments Pricing.

I hope this helps.

Misty