Time for our final Making Money on Ebay post. If you are just joining us be sure to check out the entire Making Money on Ebay series!
The final post is on collecting payment. To collect payment you have to have a paypal account. Ebay requires this! It also has to be a paypal account that accepts credit cards. That means you will be charged fees when you collect your payment. You have a choice between two fees:
- 2.9% + $0.30 or
- 5% + $0.05 (called their micropayment pricing)
- If your payment is $1 then you will be charged $0.33 with the traditional fee schedule, $0.10 with the micropayment schedule
- If the payment is $5 then it would be $0.45 for the traditional and $0.30 for the micropayment schedule
- If the payment is $10 then it would be $0.59 for the traditional and $0.55 for the micropayment schedule
- If the payment is $20 then it would be $0.88 for the traditional and $1.05 for the micropayment schedule
If most of your items + shipping costs $11 or more then stick with the regular pricing!
Collecting payment is simple once you have paypal – just wait for them to pay you. You will get an email saying they paid and then you can ship!