As I understand so far, Paypal makes a profit by docking a percentage of the purchases made with this service. It will also dock the money you receive.
But there are a few items on my agenda that I would like to know before I give my banking information:
1. Is there monthly, weekly, daily or annual fees?
2. If I use Paypal to buy from another Paypal user, will we both get docked from the payment method?
3. If I upgrade from Personal to any other type of Paypal account, do I have to pay fees?
4. How long can my account be unused and still open?
5. What is the liability that Paypal offers in case the amount taken from my bank is higher than the billed amount (i.e., I purchase a 15$ item including Paypal's cut, and 150$ is taken from my account by glitch or an unauthorized 10$ is taken by Paypal to a vender)?
I know these questions have probably been answered 100 times over but I would love it if you were so kind as to answer them to me as well. I don't have the best reading comprehension, so sometimes I miss a thing or two.
I am sure that Paypal is a fair company and that it takes good care of each of it's millions of clients, however I like to make sure I know what I am getting into and the lack of price of accounts while creating mine has me a little confused.
