PayPal operates in 190 markets and manages more than 133 million accounts. PayPal currently allows users to send, receive, and hold funds in sixteen currencies: Australian dollar, Canadian dollar, Czech koruna, Danish krone, euro, Hong Kong dollar, Hungarian forint, Japanese yen,
There is a conversion fee for accepting foreign currencies from your buyers and having them converted to U.S. dollars. Because PayPal is not a currency dealer, they must purchase foreign currencies from a bank. PayPal
PayPal
PayPal is the largest of the online person-to-person payment services. Thankfully, eBay had the presence of mind to acquire this previously independent service in 2002, so it has now become the de facto standard for paying for items bought on eBay.
To accept credit card payments, you must have a premier or business account. Buyers may join when they
win their first auction and want to pay with PayPal, or they can go to www.PayPal.com and sign up. The story’s slightly different for the seller. You need to set up your PayPal account before you choose to accept it in your auctions or sales.
Here are more than a few particulars about PayPal accounts:
- auction payments are deposited into your PayPal account. Choose one of several ways to get your money:
• Have the money transferred directly into your registered checking account.
• Receive payment by check (PayPal charges $1.50 for the check).
• Keep the money in your PayPal account for making payments to other sellers.
• Withdraw the cash from an ATM with a PayPal debit card and get back 1.5 percent of the money spent on purchases.
• Shop online with a virtual credit card that carries your balance to any Web site that accepts MasterCard.
- PayPal has its own feedback system (actually called a reputation number). The number after a username reflects the number of unique PayPal Verified users with whom this user has conducted business. Buyers will see a link to your Member Information box on the Send Money Confirmation page. The higher the reputation number, the more likely the user is experienced and trustworthy. Clicking the number produces a report, giving information on the seller.
- As a seller with a premier or business account, you can choose to accept or deny a payment without a confirmed address. A confirmed address means that the ship-to address indicated by the buyer is the same as the billing address on the credit card the buyer chose to register with PayPal. On the Accept or Deny page, information about the buyer is shown, including verification status, account creation date, and participation number (same as your reputation number).
- PayPal assesses your account $10 for any chargeback. The fee is waived if you’ve fulfilled the requirements in the PayPal Seller Protection policy (see the next bullet). To specify whether you want to accept a credit card payment from a buyer without a confirmed address, log on, go to your account, and then click the Profile tab. Next, scroll down Selling Preferences and click Payment Receiving Preferences. If you accept payment from a nonconfirmed address, that transaction will not be covered by the PayPal Seller Protection policy.
- The PayPal Seller Protection policy provides up to $5000 in annual chargeback protection, unauthorized card use, and nonshipments. To qualify for this protection, you must do the following:
• Be a verified member of PayPal with a premier or business account: Allow PayPal to confirm with your bank that your checking account and address are your own.
• Ship only to a confirmed address: PayPal confirms that the buyer’s ship-to address coincides with the address to which the credit company sends monthly bills. Fraudulent shoppers often ask you to ship to another address don’t do it.
• Keep proof of shipping that can be tracked online: Here’s where those delivery confirmation things come in handy. For transactions greater than $250, you must get a signed proof of delivery from the shipper.
• Ship tangible goods: PayPal doesn’t cover goods that are transmitted electronically.
• Accept only single payments from a single account: Don’t let a buyer try to pay portions of a purchase from different e-mail addresses. Someone who’s trying to pay using several accounts may be attempting to defraud you.
• The transaction must be between
Other requirements change from time to time. Check PayPal’s help area for updates. But know that if a transaction is eligible, Seller Protection Policy Eligible will appear on the individual Transaction Details page. If you have a personal PayPal account, you may still be able to accept credit card payments, but you will have to pay a hefty fee. You’ll pay 4.9 percent of the total amount collected, plus the standard $0.30 transaction fee. Seller’s fee tiers for business and premier accounts are adjusted based on the prior month’s transaction volume.
To receive the lower rates from PayPal, you must apply for merchant rate pricing. Once your sales go over $3000 a month, you must log into your PayPal account and apply. If you can’t find the link, call PayPal sales at 866-836-1648. If your sales dip below the minimum tier of $3000, you do not need to reapply.
A brilliant feature of PayPal is the ability to download your sales and deposit history to your computer. Although PayPal also offers files that integrate with QuickBooks, the standard downloads are rich in features. Rather than importing just sales figures, you see each and every detail of your transaction dates, names, addresses, phone numbers, amounts, and more. Even fees and taxes (if you charge sales tax) are broken down separately, making bookkeeping a breeze. The download imports into Microsoft Works and Excel.
Downloading your history will help you calculate income taxes and sales taxes, reconcile your accounts, predict sales trends, calculate total revenues, and perform other financial reporting tasks. It will also give you an excellent customer database. The deposits download gives you detailed information for all the deposits that you receive: payments, PayPal transaction and deposit fees, refunds, rebates, and any adjustments made to your account.
Follow these steps to download your sales and deposit histories:
1. On your PayPal Main Overview page, click the History tab.
2. Click the Download My History link, on the left side of the page.
3. Enter the time span and the file format for the information that you want to view.
Source : http://www.articlecity.info/Selling-internationally-using-PayPal-as-your-payment-system/
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