Paypal and payments

[fauzi]

Hi,

During my school holidays (starting today), I am setting up my online web design portfolio and also, sell my designs over the internet.

However, with such a website, I need to know a couple of things:

1) When accepting payments from paypal, is it possible to transfer to your local DBS account since it is considered a "Mastercard". If so, what about the changes in the currency? Is it automatically converted via paypal?

2) Does paypal charge a fee for every transaction made? If so how much? Also, does paypal require any fees for using the service? (I think it's free)

3) Does DBS/POSB provide support for transactions transferrred via paypal? Do I need to know any additional information? A friend told me something about Branch number or something, can someone please enlighten me on it?

4) In terms of implementation, is it convenient to program the website using PHP and mySQL? I'm not too sure on PHP and may require learning it on the net or in the library. I am however, quite well versed in Java. Compared to JSP, how would PHP be?

Ok, I'm done. Sorry if you guys have to read this essay.

[chin]

Hi

Paypal do charge some fees when transferring to your local bank acct.

And their conversation rate is only ard 1.69.

So said today I transferred USD$50 to my POSB bank, it only transferred around SGD$83..

[Xavior]

I tot it is done by the bank?
paypal transfer in USD and the bank change it to SGD?

[khimhong]

Since DBS is a Singapore Bank, they would most probably do some conversion here and there and bring back the $ to your account in terms of Sing$

[fauzi]

Hi all,

So now, paypal does accept payment for personal accounts right?
So what I should do is place a paypal buy now button in my website and after the user enters all the details necessary, my personal account will take in the amount specified right?

1 more thing, I read somewhere that personal paypal accounts do not accept payment via credit card? Is this true?

[Xavior]

1 more thing, I read somewhere that personal paypal accounts do not accept payment via credit card? Is this true? <-- yes it's true

[chin]

I think only premier and business acct can accept that

[AddValue]

Yes, it is true that PAYPAL personal account will not allow you to accept CC. Only receiver of monies and sending money.

Regards
Doug

[fauzi]

Hi all,

I've upgraded to a Premier account...it seems to be free though. OK, I've sent an application for my Debit Mastercard, and Paypal does work with this card, coz i've tried it using my friend's card
just wanna know, getting it from POSB/DBS, it shouldn't more than 7 working days right?

So, how much does paypal charge for every transaction made with a premier account? a few bucks?

[fauzi]

Hi,

That URL doesn't explain anything. It's mainly for recurring payments, trial periods and such. Nothing about price per transaction charged by paypal. =(

[xfluous]

with regards to paypal, before i pay, will i see the exchange rate or will it just be up to them to charge?

or does it follows DBS?

thanks

[chin]

Originally posted by xfluous
with regards to paypal, before i pay, will i see the exchange rate or will it just be up to them to charge?

or does it follows DBS?

thanks

They will follow their own rate, and you will be able to see it...

[xfluous]

oic... thanks =)

[xfluous]

lastly, do they accept OCBC Debit Visa or DBS Debit master

[alien]

Yes

[xfluous]

thanks dude.. check ya pm?

[fauzi]

Yes,

Paypal does accept debit mastercard. A lot of people don't really seem to like paypal though...I wonder why...

[cybertai]

Want to know why ??? check this link out http://www.paypalsucks.com .There's a lot of horror stories there.That makes me think twice about using pay pal.

[polarbear]

After someone has paid me via CC, can I withdraw the funds instantly or do I need to wait for a certain period of time?

[fred]

Do apply a business account if you intend to use paypal to receive payment.

[polarbear]

Yes, but can the withdrawal of an incoming fund from a CC transaction be transferred to my bank immediately or have to wait for some time before the money appears?

[belgarathc]

Originally posted by fred
Do apply a business account if you intend to use paypal to receive payment.

why is this so?
i have just gotten myself a premier account.

From what I read from their site, the differences are:

Premier Accounts
* Send money for FREE
* Low fees for receiving money
* No limit on receiving credit card payments
* Exclusive customer service hotline 7 days a week
* Special tools for sellers
* ATM debit card for select users

Business Accounts
* Include all the features Premier accounts
* Can do business under a corporate or group name
* Access to Multiple Logins

Are the differences significant?

[fauzi]

I think the difference are in the fees when u wanna retrieve the money into your credit card account....Im not sure though...

[belgarathc]

Originally posted by fauzi
I think the difference are in the fees when u wanna retrieve the money into your credit card account....Im not sure though...
i thought the fees for premier and business accounts are the same.. only merchant accounts have cheaper fees

i am not sure also :p

[fauzi]

All in all, I don't think paypal is a very good system. I heard from a friend of mine who sold stuff via paypal, and even though the stuff was sold, he wasn't able to collect the money due to "fraud". But paypal is "ALMOST" free though...that's why they're so popular over authorize.net or 2checkout.

[seahorse]

i think paypal is good way of receiving and paying money when dealing with overseas. Paypal is so sucess and convenient that ebay acquire it.

Your friend should have collect the money before sending off the goods.

[alien]

If you have a personal account and someone transfer funds to you using PayPal CC, you either have to decline the funds or upgrade your account.

And Premier and Business accounts are charged at the rate of 2.9% + $0.30.

[seahorse]

no choice, paypal want to earn money too.

[polarbear]

Anyway knows what is the setup like if I want to transfer money from my PayPal account to my OCBC account? Do I omit the first three digits of my account number just like I have to do it for Internet Banking fund transfer in Singapore?

[fauzi]

That is up to the bank. You need to know the institution code and all that stuff also. You may have to refer to your OCBC branch office.

[belgarathc]

Say a guy from china sent me US$10 through paypal. The transaction fees would be 2.9% * 10 + 0.30 = US$0.59? So I would get US$9.41 in the end? Will the 1% cross border fees apply?

[fauzi]

nope, I dun think so.