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Enable Paypal "Merchant Rate" to Save Money on Fees

post #1 of 30
Thread Starter 
I thought this might be of interest to some of you since the holidays usually bring in more sales and more of you will qualify. This is a quick guide to lowering the fees you pay Paypal.

Paypal’s default fee rate is 2.9% + 30 cents. It is possible to lower this rate by applying for Paypal’s “merchant rate” if you have sales that exceed $3,000 over the last 30 days and an account in good standing. The downside is that you will have to provide Paypal with your Social Security number if you have not already done so. Also, if you fall below the $3,000 sales mark Paypal will automatically downgrade you back to the “Standard Rate.” There is no need to reapply as Paypal will automatically adjust your fees.

To “apply” for the merchant rate do the following.

1.Log in to your account.

2.Click the “fees” button at the bottom of “My Account Overview.”




3.Click one of the blue highlighted “1.9% to 2.9% + $0.30 USD” buttons




4.Click the “Merchant Rate Criteria” button at the very bottom of the page




5.Click “Apply Now” and fill out the application. It is an automatic process and there is no person that will review it. If you qualify Paypal will tell you immediately.

If you sell $10,000 a month enabling the merchant rate would save you $70 a month or $840 a year. Of course Paypal does not publish this or make it at all obvious. Hopefully this will save a few of you some money over the holidays and beyond. Feel free to copy/paste this around town as you see fit just keep in mind that i roxx your coxx.
post #2 of 30
roxx your coxx?

all that just for that punchline?
post #3 of 30
For those of us who are able to move $10,000/mo through paypal I'm sure that the extra $40 a month will make their day
post #4 of 30
and if you don't ship with delivery confirmation that will save you another .65-75 cents on each transaction

also if you don't use bubble envelopes but manilla envelopes with seperate bubble wrap that will save you another .35 cents each transaction

that's $1 on each transaction x items sold each year = lots of dough.
post #5 of 30
I thought you could only ship macbook airs in manilla envelopes...
post #6 of 30
Thread Starter 
Quote:
Originally Posted by blm14 View Post
For those of us who are able to move $10,000/mo through paypal I'm sure that the extra $40 a month will make their day
it saves me about $1500 a year making it worth the 30 seconds it takes to do it IMO. for those of us without columbia degrees and million dollar paychecks every little bit helps.
post #7 of 30
Quote:
Originally Posted by notfrostyjosh View Post
it saves me about $1500 a year making it worth the 30 seconds it takes to do it IMO. for those of us without columbia degrees and million dollar paychecks every little bit helps.
That's, like, 2 pairs of Dior jeans OMG.
Or: my whole clothing budget for a year.
post #8 of 30
Quote:
Originally Posted by notfrostyjosh View Post
it saves me about $1500 a year making it worth the 30 seconds it takes to do it IMO. for those of us without columbia degrees and million dollar paychecks every little bit helps.
Explain something to me. 2.9% on $10,000 is $290. 2.4% on $10,000 is $240. So you're saving $50. I'm not begrudging ANYONE for wanting to save $50; $50 is a lot of money. What I was TRYING to point out is that I doubt that anyone on here is moving that kind of money per month on paypal.

Even if you're doing $10,000/mo and saving that $50, that's $600/year so I don't know where you're getting $1500. Maybe I'm missing something.

And for the record I live in one of the most expensive cities in the world and make substantially less than $100,000 a year and my wife is a yoga teacher which is hardly a lucrative position, so lets keep the snarky comments to ourselves, eh?
post #9 of 30
Quote:
Originally Posted by blm14 View Post
Explain something to me. 2.9% on $10,000 is $290. 2.4% on $10,000 is $240. So you're saving $50. I'm not begrudging ANYONE for wanting to save $50; $50 is a lot of money. What I was TRYING to point out is that I doubt that anyone on here is moving that kind of money per month on paypal.

Even if you're doing $10,000/mo and saving that $50, that's $600/year so I don't know where you're getting $1500. Maybe I'm missing something.

And for the record I live in one of the most expensive cities in the world and make substantially less than $100,000 a year and my wife is a yoga teacher which is hardly a lucrative position, so lets keep the snarky comments to ourselves, eh?
The Dior comments were not directed at you LOL
You're too good at math, you lost me at %..............
post #10 of 30
lol I don't think he was talking to you, maddi
post #11 of 30
Thread Starter 
sorry for confusing you blm when i said "$10,000 a month" i really meant "$10,000.01" which would qualify you for the 2.2% rate which would be a savings of $70 a month rather than $50.

so far this year my sales are around $190,000 and at an additional savings of .007% is $1330. I think anyway.
post #12 of 30
Thread Starter 
but even if you are selling $3,000 sorry i mean $3000.01 a month applying for the merchant rate would save you $12 a month which i would grant you isnt the greatest amount of money in the world but for those of us who arent that happy with ebay every $12 they dont get is positive.
post #13 of 30
You're making $200,000 a year in paypal sales and you have the gall to give ME shit about income? LOL

Your ebay username or it didnt happen
post #14 of 30
$190,000 doesn't mean shit if we don't know his expenses or profit margins

saving $1500 is nothing if you make 150k net (1%) but if your margins are 10% like some people then your profits are 19k and $1500 is VERY significant...

blm, your wife is a yoga teacher? Pics or GTFO

personally I dont' really care to save 1% but if I were moving 500,000 gross a year that shit would be huge.

and I've shipped electronics in manilla envelopes, just have to tape the sides up and put lots of bubble wrap. Still cheaper than those damn 3M envelopes.
post #15 of 30
good show, blm14 and kray

+1 for both of you
post #16 of 30
thank you dachshund in overcoat and yellow tie!
post #17 of 30
If notfrostyjosh (or you for that matter) manage to move 500,000 gross of anything, it's sperm. So I don't think your scenario quite fits.
post #18 of 30
I think that's a weimaraner.
post #19 of 30
Quote:
Originally Posted by blm14 View Post
If notfrostyjosh (or you for that matter) manage to move 500,000 gross of anything, it's sperm. So I don't think your scenario quite fits.
I don't sell anywhere near 500,000 a year. Maybe in 5 years if that. But moving merchandise doesn't mean anything if you aren't making healthy margins.

anyway, most of what I sell isn't even on ebay anymore. Ebay is just my contingency plan.

and if you must know, I move BILLIONS of sperm each year.
post #20 of 30
^^^ I hope you wash your socks
post #21 of 30
socks and moving sperm?

a 50's pastime?
post #22 of 30
Quote:
Originally Posted by kray View Post
socks and moving sperm?

a 50's pastime?
In prison they call that a "fifi"
post #23 of 30
*goes to urbandictionary
post #24 of 30
O.O
post #25 of 30
Thread Starter 
hahaha
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