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Premier account with paypal
Thread poster: Midori Wilson
Midori Wilson  Identity Verified
Local time: 19:13
English to Japanese
+ ...
Feb 15, 2004

Hello all. I don't know if this is the proper place for this topic, but since I read lots of topics about Paypal, I will post this here.

I have had a personal account with Paypal for the last couple of years, and I have used a few times for making payment mostly, and never received money there. I understand that with a personal account, you can't accept credit card payment. Now, my question is, is it worth having premier account set up? I am also wondering how easy/hard it is to transfer money to your local bank account. I would appreciate comments and thoughts from premier account holders, especially from Canadian translators/interpreters, as I live in Canada.

Thank you in advance!

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PB Trans

Local time: 11:13
French to English
+ ...
Hello from Canada! Feb 16, 2004

I have been using PayPal since 2002. I have a Premier account and this allows me to receive payments by credit card. A small fee is deducted from the total of money owed to you when a payment is made using a credit card (as opposed to using funds in the account balance). However, in my opinion, the convenience is worth the charge.

As for transfering Paypal funds to your bank account, the process is quick and easy. There is a charge of 50 cents US for the transfer. PayPal says it takes up to 4 days for bank transfers to Canada but I found it only takes a day or two. I usually wait until I have several hundred dollars in my account and then I request a bank transfer.

I don't know if you already entered your bank account info in PayPal. I had some problems with this because I registered with PayPal using my nickname "Pina" (my real name is too long) and only one last name. My bank account info includes my full name and both last names, so when I decided to enter my bank account info, PayPal did not believe I was the same person so I had to fax them documents to prove my identity. It was a bit of a hassle but at least their security is good. I hope this doesn't happen to you though.


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Ildiko Santana  Identity Verified
United States
Local time: 03:13
Member (2002)
English to Hungarian
+ ...

not a necessity but convenient Feb 16, 2004

Midori Wilson wrote:

I understand that with a personal account, you can't accept credit card payment. Now, my question is, is it worth having premier account set up? I am also wondering how easy/hard it is to transfer money to your local bank account.

Hello Midori,

I live in California and have had a PayPal account for a few years. First it was personal, and I did receive credit card payments, even from Europe, but for a fee (I think it was somewhere around $15 or so per transaction). I have just recently upgraded to Premium, but I have yet to see if it was worth it. I do like the fact that I now have a card associated with my PayPal account. As for transfers between your PayPal and checking account, it is very simple and doesn't normally take more than a few business days. I find it very convenient.

Hope this helps,
Ildiko V-W

[Edited at 2004-02-16 01:12]

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Narasimhan Raghavan  Identity Verified
Local time: 15:43
English to Tamil
+ ...
Be careful with Paypal Feb 16, 2004

See the related threads, which spell out the threats involving Paypal (sorry, can't resist a pun). More seriously: See this thread:
Good luck (you require it with Paypal)

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xxxTatiana Nero  Identity Verified
Local time: 06:13
+ ...
credit cards Feb 16, 2004

I have a premier account with Paypal accepting credit card payments. The fee for a transaction consists of two parts - a set fee (less than a dollar, don't remember exactly, about $.50) per transaction + 2.9% of the amount, no monthly fees.

It's free to deposit the money received by any means (credit card, e-check etc.) into your bank account associated with your Paypal account, in my case it takes about 3 business days for money to appear in the account.

I live in the US, so cannot say if it's the same in Canada though.

Best of luck!

Tatiana Neroni

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Armando Pattroni  Identity Verified
Local time: 05:13
English to Spanish
+ ...
Be careful with PayPal Feb 16, 2004

A lot of information about this system in
No further comments

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Midori Wilson  Identity Verified
Local time: 19:13
English to Japanese
+ ...
Thank you all! Feb 16, 2004

Thank you everybody for the comments. I have read good things and bad things about Paypal now that I don't know what to do! I guess I should do another good research using the URLs some of you provided.

Pina, it's nice to hear a good comment from someone in Canada, although it sounds like whether it's worth using it or not really depends on a person. Sometimes I think it's such a hassle for agencies to pay me anything less than $20 by cheques, and I know most of the agencies I work with also pay through paypal. The only problem about me setting up a premier account is that I wouldn't probably accept it unless agencies specifically say they will only pay through paypal. I still like cheques (who wouldn't like getting cheques??) although postal service isn't 100% reliable sometimes. It's such a hard dicision even though this is becoming more popular, as, sadly enough, you hear more bad things about it than good things.

Anyway, thank you Pina, ildiko, Narasimhan, Tatiana and Armando, for the replies to my question I appreciated it!

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Omar Osman
Local time: 12:13
English to Somali
+ ...
I registered with Paypal but… Feb 17, 2004

I registered with Paypal last week because the bank transfer was too expensive and the customer was using Paypal. I read all the threads of doom posted about Paypal, I signed an agreement with them (Paypal UK) which is regulated by the English law and by the Financial Ombudsman Scheme. It looks like the American agreement is different from the English version. I am also verified and I received the four digits from them, but I informed my credit card company not to accept payments or withdrawal from Paypal. My payments are made on my normal check account and they can’t withdraw from there, as they don’t have my card number for that account. Beside all of this I don’t see what else one can do. Maybe don’t use the service?

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Richard Benham  Identity Verified
Local time: 12:13
German to English
+ ...
Traps to watch for.... Dec 13, 2004

I have had a few problems with PayPal.

When I moved from Germany to Australia, for some reason or another my account was frozen, which meant that I couldn't do certain things with it, including closing it. Which was odd, because they had told me that I couldn't change my address from one country to another, and that the way around this was to close my account and open a new one. In the end I had to fax some documentation to them before I could use my account.

Also, the problem with a Premium account is that they charge you fees even on NON-credit-card payments. I thought I could get around this by having a second account which I only used for credit-card payments by prior arrangement, but then my biggest client, after making one credit-card payment, decided to pay all invoices to this account. The first one attracted a fee of around 49 euros, and I was not impressed. I asked him not to do it again, and he responded by suggesting that I refuse the payment so that he could make a payment to my Personal PayPal account, but unfortunately sent the email to the address I created for the second PayPal account and don't check very often.

Another problem I have heard of was from a colleague who was told that some work he did had been paid for using money that had been obtained fraudulently, and that they were going to deduct the money from hs account. Moral: don't leave money lying around in your PayPal account, and don't let them take it out of your bank account.

All up, though, it's a convenient service and free. I would be lost without it. But it pays to be careful.

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