paypal glitches solved

Posted on November 15, 2007 by dc

I’m pretty sure most of us have a paypal account, some have premium ones, business or personal. Few days ago, I was alerted that paypal is deducting certain fees from all transactions coming through into premium and business accounts. I found out that it was true and rang them to find out why. After being told that this was a common commission deduction for premium and business accounts, I switched mine to a personal one. But I was told that a report would be made as there might a system error of why the fees were only implemented now and not before.

Anyways, I got an email from paypal this morning that cleared the air. The email read:

“We are contacting you to let you know that fees were deducted incorrectly from a payment you received between November 10 and November 12, 2007.

We will credit the amount deducted to your account within the next 24 hours.

We apologize for any inconvenience. You are a valued PayPal customer and we appreciate your business.

If you have questions, please feel free to contact us at 1-888-221-1161.

Sincerely,
PayPal”

So, all confusion cleared… I suppose I didn’t have to switch to a personal account after all. But since I don’t link my paypal to my credit card, neither do I withdraw any money from it, I’ll leave it as it is. The difference between a personal and premium account is that, for premium accounts, you can withdraw unlimited times from your credit card but with personal accounts, you can only do up to 5 times.

And for those of you who live in Asia, you can call Paypal Singapore if you run into any problem. Somehow, the line to Paypal in the US tends to take a longer time.

Category financial

2 Comments

1
Angela
Just make sure you don’t switch back because you can only have a personal account once according to PayPal.

My thoughts on this are if I am getting paid to do a job I shouldn’t have to pay a fee in order to get paid.

If a business is going to pay somebody through PayPal then they should be the one to pay the fee and it should be above and beyond what we make.

thanks for the tip, Angela – I totally agree with you on the point that there shouldn’t be a fee deducted from the received payment.
November 15th, 2007 at 9:21 pm
2
Mark
Yes right,one way to process credit cards is through PayPal. There are benefits and drawbacks to this method. PayPal is very simple to set up and can be linked with your bank account and credit cards.Nice article,thanks
April 26th, 2008 at 2:06 pm