WELCOME TO MY GUIDE
YOU MAY BE ELIGIBLE FOR DISCOUNTED PAYPAL FEES
YOU WILL PAY LESS % OF EACH TRANSACTION VALUE
THIS QUICK GUIDE WILL TELL YOU HOW TO DO SO, IN SECONDS
The discounted transaction fees for PayPal are actually a ‘Merchant Service’. There are different bands, with different criteria, each of which provide you with a different % discount on the fees PayPal charge on each transaction.
Do you Qualify for Discounted Fees?
To qualify for the discount fees, below are the criteria:
Merchant Rate pricing approval is reserved for members in good standing (whose accounts are not currently under investigation) who meet the following criteria:
* Received more than £1,500.00 GBP in PayPal payments in the previous calendar month
Below the table shows the % Transaction fees you will pay in each band.
£0.00 GBP - £1,500.00 GBP
3.4% + £0.20 GBP
£1,500.01 GBP - £6,000.00 GBP
2.9% + £0.20 GBP
£6,000.01 GBP - £15,000.00 GBP
2.4% + £0.20 GBP
£15,000.01 GBP - £55,000.00 GBP
1.9% + £0.20 GBP
above £55,000.00 GBP
1.4% + £0.20 GBP
The sales values above are based on sales volume in one calendar month, through your PayPal account. At the top you can see the normal rate you pay if you are not a member of the Merchant Services scheme (3.4% + 20p).
The Setup – Step By Step
1. Log into your PayPal account.
2. At the top of the page, click on ‘Merchant Services’.
3. On the left of the page, under the heading ‘Resources’, click on ‘Transaction Fees’.
4. On this page, there will be a table similar to the one above, under which there will be a hyperlink ‘Merchant Rate Criteria’. Click this.
5. This will load a new page, at the bottom of which will be a section entitled ‘Application’. There is a hyperlink at the end of the text that says ‘apply now’. Click this.
6. You’ll then be asked to fill out just a few fields regarding your business interests, such as the main category on eBay you use, etc. It’s all very straightforward, there are only a few questions, most of which are not even required (you can just ignore them). After filling the fields out, click ‘Submit’.
7. At this point, you will either be accepted onto the Merchant Rate scheme, or declined if you don’t quite meet the criteria.
How to maintain your Discounted Fees
After qualifying for Merchant Rate pricing, all members are expected to:
* Keep their PayPal account in good standing. Members may be downgraded to the Standard Rate if a fee-generating payment volume of more than £1,500.00 GBP is not maintained in the previous calendar month’s payment volume or if they have unresolved chargebacks.
I HOPE THIS HAS BEEN HELPFUL TO YOU. IF SO, PLEASE CLICK ‘YES’ AT THE BOTTOM.