Theotokos Posted June 9, 2008 Share Posted June 9, 2008 I'm guessing that the most preferred method to pay for geocoins is with Paypal? Maybe Paypal isn't the best method but it's all I know at this point. I'm thinking down the road I may want to go directly to the mint to have some coins made and then sell them myself. How do I go about setting up Paypal to do that? I do have a Paypal account to pay for coins that I purchase but have never sold anything online before. I was wondering if a basic account is all I need or do I need some sort of 'premier' account? If I don't have a merchant account can I still accept Paypal payments? I've tried to read some of the information on the Paypal site but I come away with more questions than answers. Any help on getting myself setup to sell using Paypal would be appreciated. I want to make sure that I set things up properly so that when/if I do sell coins on my own that I don't mess things up for everyone. Quote Link to comment
+tsunrisebey Posted June 9, 2008 Share Posted June 9, 2008 You'll need to upgrade your account to a premier or merchant account (off the top of my head). Then you can accept unlimited funds for coin payments via credit cards, transfers, echecks, etc. It's been so long since I've upgraded but they may want you to put a credit card on file and ask for other items to verify your account, etc. It's not difficult but you just need to find the upgrade link. You will also be able to access a specialized invoice tool, so you can itemize the type of coins, shipping, etc. and it totals everything for you. By upgrading you just get more options with your account and there are no limits to receiving or sending funds kinda thing. I'm not a paypal expert (only in the if you get locked up part, lol). There is no fee and it's all free. Transferring your funds to your bank acct. is free. My one suggestion that I highly recommend is that when you invoice people for coins, you transfer your money at least once a day into your bank account. That way if you ever get locked for any reason you'll at least have access to some of the payments received. Don't let much sit in there, cause you just never know! Good luck If you have any questions about sending invoices, you can always drop me a note, I'll try to answer your questions. Quote Link to comment
+E.caballus Posted June 9, 2008 Share Posted June 9, 2008 Would Paypal take a certain % of the sale if the buyer uses a credit card? I know they did for the ebay sales I did. Folks who have done so can comment better than me, but one aspect that daunted me from selling my coins myself is the packing and shipping of the orders I think Paypal will automatically fill in the buyer's address at least if you use their label software, and you can buy self-adhesive labels that are the perfect size. Quote Link to comment
+LadyBee4T Posted June 9, 2008 Share Posted June 9, 2008 There is no fee and it's all free. Transferring your funds to your bank acct. is free. I have to add here. There are fees to receive money when you upgrade your account to accept credit card payments. The fees are graduated depending on the amount you receive and are listed on the paypal site. The sender of the money isn't charged any fees. The transfer of money to your bank account is fee also. Quote Link to comment
+LadyBee4T Posted June 9, 2008 Share Posted June 9, 2008 Would Paypal take a certain % of the sale if the buyer uses a credit card? I know they did for the ebay sales I did. When you upgrade your account paypal takes a percentage of ALL money that comes in no matter how the buyer pays for it--credit card or transfer of funds. Quote Link to comment
geohunt.ca Posted June 9, 2008 Share Posted June 9, 2008 I think that even though they take a percentage they are probably still the best bet. Just ship according to their policies, and their coverage is pretty solid. I've always shipped with tracking and signature required, and there have been no issues. Quote Link to comment
Theotokos Posted June 9, 2008 Author Share Posted June 9, 2008 Would Paypal take a certain % of the sale if the buyer uses a credit card? I know they did for the ebay sales I did. When you upgrade your account paypal takes a percentage of ALL money that comes in no matter how the buyer pays for it--credit card or transfer of funds. but you do have to upgrade right - there isn't a way around that? I mean can I accept money with my regular Paypal account? Quote Link to comment
+LadyBee4T Posted June 9, 2008 Share Posted June 9, 2008 Would Paypal take a certain % of the sale if the buyer uses a credit card? I know they did for the ebay sales I did. When you upgrade your account paypal takes a percentage of ALL money that comes in no matter how the buyer pays for it--credit card or transfer of funds. but you do have to upgrade right - there isn't a way around that? I mean can I accept money with my regular Paypal account? You can accept money with a regualr persaonl account but not credit cards or actually only a few per year. After you accept that set number of credit card payments they make you upgrade. I have two accounts one a personal account for only cash or balance transfers so I'm not charged a fee for someone to send me money to that account. When I started selling more on ebay I opened a second account and upgraded to the premier acocount I believe it is. That account accepts credit cards and all funds coming into it no matter who or where they come from but I get charged a fee to accept it. Each of these two accounts had to be tied to a different email and bank account. I set that second one up a couple of years ago so the exact policy may have changed since I set it up. Quote Link to comment
+tsunrisebey Posted June 9, 2008 Share Posted June 9, 2008 Would Paypal take a certain % of the sale if the buyer uses a credit card? I know they did for the ebay sales I did. When you upgrade your account paypal takes a percentage of ALL money that comes in no matter how the buyer pays for it--credit card or transfer of funds. but you do have to upgrade right - there isn't a way around that? I mean can I accept money with my regular Paypal account? You can accept money but only a certain amount at the basic level. I'm sorry I should have clarified, only transfer to bank account is free... yes you pay fees to accept payments. I wasn't think about that (good point Bev.) Quote Link to comment
+tsunrisebey Posted June 9, 2008 Share Posted June 9, 2008 John, Log into your acct. in the search engine, type in Business account. Click on the first link that comes up. The scroll down to the very bottom and you'll see a little tiny link that says; 'fees'. there you can compare the difference between your acct. and the business account and all associated fees. Plus there will be some links to investigate further. I tried to link to it but you needed to be logged in. Quote Link to comment
Theotokos Posted June 9, 2008 Author Share Posted June 9, 2008 John, Log into your acct. in the search engine, type in Business account. Click on the first link that comes up. The scroll down to the very bottom and you'll see a little tiny link that says; 'fees'. there you can compare the difference between your acct. and the business account and all associated fees. Plus there will be some links to investigate further. I tried to link to it but you needed to be logged in. Thanks, I'll go check it out. Quote Link to comment
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