Okay I just found this:
[QUOTE]A payment processor’s fee is typically comprised of a fixed amount around 30 cents and a percentage amount around 2.9%. Due to the fixed fee, the total percentage of the entire transaction the fee represents changes depending on the price of your product.
For example 30 cents of a 1 dollar payment is 30%, 30 cents of a 2 dollar payment is 15%, etc. You can avoid high payment processor fees by selling your work for a higher price.[/QUOTE]
I interpret that to mean that even though I request a bulk payout, the 30 cents fee is being tacked onto each payment individually? I don't understand why that would be, since PayPal shouldn't care how many smaller transactions my payout consists of. Unless they do?