I just talked to PayPal and got info some may find worth knowing.
Everyone heard about micropayments, it's a way to accept tiny, under $10 transactions ($0.05 + 5%).
I don't want to switch my regular PayPal acct. to Micropayments, so I called PayPal to ask for authorisation to open second business account ans switch it (apprently they require some documents signed, etc). The CS person told me it's not possible to have two accounts, but they have something called "child account" and he transfered me to merchant support specialist to help me setup child account.
It turns out child account is a very special beast - needs to get emptied every night and send funds to either main account or the bank account (must be different bank acct than main acct). If you don't have child account linked to bank account, it will also cause main account to empty to the bank. This is a major inconvenient because of refunds.
I tell Doug, this is a major inconvenience. And he goes
- Why don't you just setup second business account ?
- Thais would be ideal solution for me, but PayPal user agreement does not allow it.
- Don't worry about it, you can have as many business accounts as you like, I setup 10 business accounts for one person at one time. I can setup your second business account and switch it to micropayments right now if you want.
:O
(looking at my phone in mute awe)
