|
astralexplosion
mastermind

Registered: 08/17/09
Posts: 252
Loc: CO
Last seen: 13 years, 7 months
|
How does paypal work?
#12283122 - 03/27/10 01:51 PM (13 years, 11 months ago) |
|
|
Ill be selling a few things on ebay, my question is will paypal take money directly out of my account. Or will they take it out of the amount I receive for the sale through paypal? Hows does this work? Their site realy doesnt explain much for me.
|
bootedboy
SpaceCowboy



Registered: 06/30/08
Posts: 1,381
Last seen: 3 months, 5 days
|
|
They will take the money out of what you make from the sale, but you will wanna go ahead and confirm your bank account with them because you will have to collect the money unless you plan on spending it all online. It takes a few days to confirm your account so go ahead and do it as soon as possible. This option is located on your account page under, add a bank account.
-------------------- Ask me about ARX!!!
|
xtokex
Stranger
Registered: 10/22/09
Posts: 662
Loc: SoCal
Last seen: 7 years, 8 months
|
Re: How does paypal work? [Re: bootedboy]
#12284254 - 03/27/10 05:37 PM (13 years, 11 months ago) |
|
|
It works like this: Lets say ur selling and xbox 360 on paypal... Some dude buys it for $300
https://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside
When he pays by paypal, paypal will deduct like 2.9% of the total automatically for a sale.
Paypal is owned by ebay, so I would assume that all the fees and shit from listing your item on ebay also gets deducted from your total...
so if the person sends you $300, after fees you might end up getting like.. $287 or something.
One way around this is: Have the person who is going to buy ur item buy it off you, but send the money via paypal under Personal->other instead of Purchase-> Goods. This bypasses all the paypal merchant fees, and the total fees would probably be $1 or so.
|
Ythan
ᕕ( ᐛ )ᕗ


Registered: 08/08/97
Posts: 18,803
Loc: NY/MA/VT Borderlands
Last seen: 6 minutes, 48 seconds
|
|
If you sell through eBay, unfortunately there is no way to avoid Paypal's fees. Xtokex's suggestion to classify it as a personal transaction won't work if you go through the standard auction process. You will have to convince the buyer to complete the transaction outside of eBay, which they warn about all over their site, and can get your account banned. Even then, if they pay with a credit card, the fees are the same. It's only free if it's a personal transaction funded from a bank account.
However, eBay's fees are not automatically deducted from your balance, you will receive a separate invoice at the end of the month (which you can pay via Paypal if you wish).
|
astralexplosion
mastermind

Registered: 08/17/09
Posts: 252
Loc: CO
Last seen: 13 years, 7 months
|
Re: How does paypal work? [Re: Ythan]
#12384672 - 04/13/10 11:27 AM (13 years, 10 months ago) |
|
|
Alright, fuck the selling on ebay that didnt work for me for some reason. last question I have about this bullshit and ill quit bugging you guys. If I verrify my credit card with paypal, which ive already done. Will I be able to charge directly to my bank account through paypal? Or do I have to transfer funds from my bank into paypal to use it? I would think it would be instant from my bank "through" paypal.
|
FooMan



Registered: 02/02/05
Posts: 8,957
Loc: Earth
|
|
They'll pull the funds from whatever account you have linked to your paypal account. If you're making a purchase with paypal it will have radio buttons for which source of funds you want the money to come out of (paypal balance, credit card or any bank accounts linked to the account) and will automatically transfer the funds from there.
|
|