tallship
Joined: 07 Aug 2009
Posts: 103
Location: Super Sunny Southern California USA
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| Posted: Sun Aug 16, 2009 4:54 pm Post subject: Paypal: Open Money Market Account for Website Registration? |
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I stumbled across PayPal's, "Website Registration" feature, which, following the completion of a payment, directs buyers to a page asking them if they would like to visit the seller's website/store.
When I looked into setting this up it said that I need to set up a PayPal money market account.
1.) Is this a separate account, or does it convert my regular account into a money market account? It's not really clear on the PayPal site.
2.) one website said to keep your spending & purchases to a minimum if you do this, since PayPal can cancel your account for excessive transactions at their sole discretion?
3.) There's supposed to be, according to 'ehow.com', a referal link at the bottom of the page where I can put a referal link on pages and my email signature line, for which PayPal will pay me $1000.00 dollars for everyone that sets up a merchant acount via my referal link. Is this true?
4.) On the page before the signup, where PayPal explains the program, it says, "Immediate access: Get your money just as fast as with your PayPal account.(1)". The fine print for (1) says, "Purchases and redemptions can occur only on business days." Does this mean that I can't use my PayPal debit card or make online purchases via PayPal on weekends and holidays?
5.) I usually keep a small balance in my PayPal account, often spend everything in my PayPal account when paying for services, which leaves my account at $0.00 and then draws from my bank account to pay the remainder of the payment. Since I can open the money market account requires a $1.00 minimum balance to open, will this cause problems for me if my PayPal account reaches zero on a regular basis?
Other than that, are there any additional downsides/upsides to setting this up, other than people being asked if they want to visit my online website/store after completing purchases?
Thanks :)
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