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OfflineOneRainyWish
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PayPal question(help)
    #7808648 - 12/28/07 09:19 PM (16 years, 1 month ago)

First of all, I have my paypal account linked to a bank account.

I want to use my paypal account to pay for something on ebay, however I have exactly $1.03 less in my account than what I need for the auction  :crankey:

Now listen, right. Whenever I put funds into my paypal account from my bank account, it takes 3-4 business days for it to clear.

HOWEVER, I have also heard that if you have a paypal account and it's linked to a bank account, that you can spend more funds than you have in your paypal account, and it will be deducted directly from your linked bank account(as long as you have sufficient funds in the bank), and INSTANTLY sent to the recipient.

MY QUESTION IS, if I try to spend $1.03 more than what I have in my paypal account in order to pay for an ebay auction, first of all,

1. Will it let me use the money I already have in my account, and then draw the additional $1.03 from my bank account and send it to the recipient??

2. Will it take the usual 3-4 days to clear from my bank account, or will the money be immediately sent to the recipient? I have heard that it is instantaneous, however that doesn't make sense given that it takes 3-4 days to transfer funds from your own bank account to your own paypal account... how could you be able to instantaneously transfer your bank account funds to a different persons account without the 3-4 day waiting period??

If anybody has had experience with this, please please please give me the lowdon. Thanks, shroomery. :sun:


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Invisiblejohnm214
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Re: PayPal question(help) [Re: OneRainyWish]
    #7808667 - 12/28/07 09:25 PM (16 years, 1 month ago)

if paypal allows you to do an instant transfer from your checking account (not sure what they call it) it will front the money to your recipient and it will take the normal time to clear.

no, it is not instantaneously deducted, paypal may try and say this to stop people floating checks, but you can do it if paypal lets you


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InvisibleLayYouIn
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Re: PayPal question(help) [Re: OneRainyWish]
    #7808775 - 12/28/07 09:55 PM (16 years, 1 month ago)

collect some pop cans, cash them in, deposit the money. if it's only $1.03, you should be able to come up with something.

but to answer your question...from when i've used paypal and ebay, way back in the day, you bid and then win and after that you and the buyer figure everything out. it's not an instant action. just reply to his emails once a day.


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OfflineOneRainyWish
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Re: PayPal question(help) [Re: LayYouIn]
    #7808803 - 12/28/07 10:04 PM (16 years, 1 month ago)

Nah, nah, I've been doing the ebay/paypal thing for awhile with one particular seller.

Usually I click buy, then click pay by paypal, then review the order and click confirm, then the next day I get an e-mail saying that my package has been shipped out.

It just so happens that this time I don't have $1.03 in my paypal account that I need for the item. I have the $1.03 in my bank account, but not in my paypal account.

The item is $122, I have exactly $120.97 in my Paypal account, and my account is verified and linked to a my bank account.

Basically I am asking, if I try to pay for a $122 item using only $120.97, what will happen? Will I be able to take the $120.97 out of my paypal balance to pay for the ebay item(keep in mind that's not enough to pay for it) and then be able to send an "instant transfer" of the $1.03, without the $1.03 having to wait 3-4 days to process in order for the recipient to receive and then subsequently ship my package.

So, so confused...somebody please help.


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Offlinedebianlinux
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Re: PayPal question(help) [Re: OneRainyWish]
    #7808805 - 12/28/07 10:05 PM (16 years, 1 month ago)

Hack him to bits and collect the insurance money?


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InvisibleLayYouIn
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Re: PayPal question(help) [Re: OneRainyWish]
    #7808832 - 12/28/07 10:10 PM (16 years, 1 month ago)

try it and find out. what are you trying to buy for $122?


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Offlinesome1whoisntme
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Re: PayPal question(help) [Re: OneRainyWish]
    #7809282 - 12/28/07 11:59 PM (16 years, 1 month ago)

With the situation you describe, if you make the $122 payment paypal will send $122 to the recipient, empty your paypal account and charge your bank account for the rest. Don't worry about it. If you make the payment and there's enough between your paypal and bank accounts to cover it, it'll go through.


--------------------
"Ignore the distortion you're forced to percieve and believe that what supercedes is love, but who agrees?"


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Invisiblejohnm214
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Re: PayPal question(help) [Re: OneRainyWish]
    #7809292 - 12/29/07 12:01 AM (16 years, 1 month ago)

If you can do an instant transfer, you will have the time to add the funds to your account. This will be the same amount of time it takes an "e-check" to clear. W/ me they were both ACH debits.

So that's the answer. Under no circumstances will the funds be immediatly withdrawn from the account. Either paypal will let you borrow the money from them (seemlessly) untill the draft of your account clears, or they won't and the seller will be payed when the money gets to paypal.

I believe what you want is the "instant transfer" or something like this. But it doesn't matter; they won't instantly debit your account as long as you go through the bank, not credit or debit, options.


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Invisiblebelligerent
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Re: PayPal question(help) [Re: OneRainyWish]
    #7809385 - 12/29/07 12:34 AM (16 years, 1 month ago)

Do you have a debit card for your bank account?

I have my Paypal account tied to my debit card and it instantly covers me when I pay more than my Paypal balance. I think it still takes a day to hit my bank, but Paypal gives you credit for it right away.


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OfflineOneRainyWish
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Re: PayPal question(help) [Re: belligerent]
    #7809496 - 12/29/07 01:29 AM (16 years, 1 month ago)

Thanks everyone, you've done a great job answering my questions.

I linked it up with my debit card and everything's goin smoothly.

This is why I love the shroomery :mushroom2:


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Invisiblejohnm214
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Re: PayPal question(help) [Re: OneRainyWish]
    #7811064 - 12/29/07 04:45 PM (16 years, 1 month ago)

?
This is bank dependant. If you do a credit or debit transaction through a card linked to an account that doesn't have the funds to cover it, your bank may screw you. Just make sure you know what you're doing.

Far better to simply go through the checking account via ACH debit directly (where it debits from routing and account number) as these take awhile w/ the way paypal and the bank will process it.


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