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01-03-2013 10:30 PM - edited 01-03-2013 10:32 PM
Hi there, I'm trying to read up on creating a vendor account and I have a few questions that I can't find a solid answer for...
Being an independent, it sure seems like I'm going to end up with next to nothing after all the fees are taken away from me. If I charge (for example) $1.99, I'll come out with roughly or less than $1 per sale. And if foreign exchange fees are applied on top of that, it's almost not even worth it!
01-03-2013 10:53 PM - edited 01-03-2013 10:54 PM
Not all these may be 100% but I'll give it a go.
1. RIM E-Commerce & Bango (DRI should be phased out by then)
2. Honestly, haven't noticed any fees. The amounts I get on my monthly statements are the amounts I receive.
3. I'm in Canada as well. My account has USD and CAD. The money comes in as USD and until I decide to convert it to CAD, it sits there. Its pooling and I'm waiting until the CAD goes down before converting it.
4. I never registered for anything, and as far as I can tell there is no tax charged on checkout for Canadians or Americans.
5. You can pretty much put anything you want. At first I used my name like it asked for, then switched it to a business name (and no I don't have a registered business).
You should come out with more than $1. There might be a fee from paypal (not sure) for transfering from your paypal account to bank account though. I have not done it in a while though so I don't remember. My money is pooling right now in my paypal.
01-03-2013 11:00 PM - edited 01-03-2013 11:01 PM
Oh, nice. Thanks for the quick response. Some follow up questions, then...
1. Does RIM E-Commerce have the same $50 holding policy that DR had?
2. Interesting... So PayPal doesn't charge you commission on receiving payment? I was going to open a personal account.
3. I suppose that's on a Canadian PayPal account, then? That's good to hear.
4. This is great news.
5. This is great news, too!
I'm feeling a bit more relieved now. Did you ever have to fill out a tax form then?
01-03-2013 11:24 PM
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01-05-2013 08:29 PM