Questions about using PayPal for receiving/making payments

[Sunny Side Up]

It's tough some times being a Wilma Flintstone in a Jane Jetson world. Please help me understand how to use PayPal for receiving or making payments to other BYC members for selling hatching eggs.

I have a PayPal account I set up to make payments to folks on eBay, but have never used it to receive payments. I was poking around on the site today to try to learn more, but am still confused.

Is there a fee charged to the seller when buyers send their payment to the seller's PayPal account?
How does the buyer make a payment to the seller?
How does the seller get the money from PayPal?

I know some people have been unhappy with PayPal & have decided to close the account & just accept Money Orders. Or maybe shiny beads & trinkets. That last option somehow appeals to me... What have your experiences been with PayPal?

Please let me know what you know, so then I will know. Thank you!

 

[willowcol]

I have never had a problem with Paypal though I am sure some people have. I have only used it to send money though. I usually only buy things that take paypal as you can get a refund if the item never gets to you, plus it takes a couple days for a money order to get somewhere and I am not good at waiting to long for things I want.

 

[preppy*hippie*chick]

When someone sends you money via Paypal either just sending it or when you sell on Ebay, you develop a balance. You can use that balance to shop or transfer it to your bank account which takes 3 days or so.

 

[sunnychooks]

When you have money paid to your PayPal account and want to get it out, you log onto the PP site and click where it says "Withdrawl". You can have them send you a check, use your PP debit card (if you have one) or have the funds transferred directly to your bank account.

 

[Sunny Side Up]

How do people pay into your PayPal account? Specifically, BYC members who want to buy hatching eggs from me? And does PayPal charge me a fee for this?

Wilma thanks you!

 

[92caddy]

You have to give them your info for them to send you money, like mine is [email protected], the same as my email address, they log onto PP, click on send money and they are asked where/who to send money to, they type in your info and the amount and then click send now and the money goes to you.

We can try it if you want, just send me some money and I'll tell ya if I get it or not. hehhehehehehe

Im only joking.

Its pretty easy once you try it. The only thing I dont like is when someone pays you with their debit card, then it cost me, the seller a fee to accept the payment.

You may want to keep some money in your PP account, cause if you dont and you want to buy something now and have to transfer money from your checking account to your PP account, then it will take 3 or 4 days for that to go thru.

I hope that was help to ya............

 

[therealsilkiechick]

i think everyone covered everything only things i can think of is i have a primier business account on pp and i get charged more fees to accept money. so if u have a regular account i pay more fees than u would. i believe any payments in i pay fees on even balance transfers but i'd have to look. when i get payments in paypal automaticaly takes the fee out of the payment as it is deposited into my balance. it will say fee and tell u how much it takes for each transaction on the far right of ur account over view page. there is no fees for sending money.

and for money withdrawel i have a pp debit/mastercard card if i need the money i use at an atm or i use it like a credit card at walmart or wherever for purchases. u can use it to get cash back with purchases at a store also. another thing i have on mine not sure if it is on a regular pp account or not but my account earns intrest i get so much back for x amount of $ i spend or spend on purchases or something. it used to be 5+% back on every $ but since the ecconimy prob it dropped bad to almost nothing. if that is on ur account it puts change back in sometimes i think it is called money market or something like that.

 

[farrier!]

Quote:
To pay into your account all they need is your email address.

A buyer can have the account linked to a bank account and/or a credit card.
With just a bank account it will take 3 or more days for the funds to clear into the sellers account. With the bank account and a credit card the transfer to the seller will clear instantly even when using the bank account.
So as a seller you can make a paypal payment using the funds right away or start the transfer to a bank account.

Hope this helps.

 

[MissPrissy]

Paypal works like any other banking account (only paypal uses a loop hole not to be regulated by the gov't as a bank).

You can send money - cash balance, credit card check etc - to anyone for nearly any reason - goods, services, etc. They do not charge a fee for paying someone.

You can receive money the same way too. Only when you receive it they charge you a little % fee. When you move it out they also charge you a fee if you move it to your bank account.

You can use the money in the account online with so many merchants these days. Even online Walmart accepts paypal payments - Culter supply does too. LOL

You can also have the paypal acct linked to your bank account and transfer money from paypal to your bank or have them send you a check. Paypal also has a debit card system so that you can freely use the money anyplace that accts debit cards.

The way the money is transfered is that instead of a bank account # the account is tied to a email account - hopefully one only the email acct holder has access too.

It is a fairly simple and straight forward online paying system.

They do turn a profit off of your money. The 3 days it takes for a money transfer allots them alot of money in earned interest of off a million+ accounts with a cash balance.

 

[ranchhand]

Quote:
Keep in mind that PayPal is owned and administered by Ebay- if they can get a penny out of you they will. That's why it's now called FEEbay!