You probably know that with more volume, you get a better rate:
https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-receiving-fees
(you have to be logged in)
Purchase payments received (monthly) Fee per transaction
$0.00 USD - $3,000.00 USD -------- 2.9% + $0.30 USD
$3,000.01 USD - $10,000.00 USD ----- 2.5% + $0.30 USD
$10,000.01 USD - $100,000.00 USD -- 2.2% + $0.30 USD
> $100,000.00 USD ------------------- 1.9% + $0.30 USD
What I didn't realize or remember is you have to actually apply for the dynamic rate. As long as your account is in good standing and you received more than 3k in the last month, you will be approved. The rate then adjusts monthly according to your previous month's receivables.
If you're eligible for another tier, it's worth the time to tick a couple boxes and click apply.
Thanks, Dras, I didn't know this. Hopefully I'll be in a position soon to take advantage of the economies of scale:)
Thanks! I was wondering why the lower rate never seemed to trigger, but always got sidetracked and never looked into it.
a few times i've applied they have just ignored my requests :(
Yes, we have to keep an eye on what they charge....
and yes you have to apply. Thanks for that though, I just had to check again to see if I was due another drop, seems not yet :)
My understanding is the rate is dynamic once you are "in."
Well, I read that in your first post, but it did not sink in, First I knew of it. I assumed you had to ask everytime you went up one. But as Sue organised it, I am probably wrong. That would be good news.