Tell me about paypal?

Discussion in 'The Pub' started by MaxLikesMilk, Jan 25, 2015.

  1. MaxLikesMilk

    MaxLikesMilk Member

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    I just put some pedals up for sale in the emporium, but if someone wants to buy a pedal from me I have no idea how it works. I have a paypal account that I just made, but how do they transfer money to my paypal account and stuff? Is there a fee? What percentage do they take out of every transfer? Also, can you just let me know how to use the site? I can't figure it out. Thanks!
     
  2. 84superchamp

    84superchamp Silver Supporting Member

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    funny, with upteen paypal threads floating around here, there probably isn't an answer to your question in any of them. i haven't had the experience (receiving funds) but i'm sure someone will be along shortly with your answer.
     
  3. Floyd Eye

    Floyd Eye Member

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    You PM them with your PP username, ( which is an Email addy), they go to their PP account and transfer the money. Seller pays a 3% fee for the privilege.
     
  4. fjblair

    fjblair Silver Supporting Member

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  5. GCDEF

    GCDEF Supporting Member

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    Not much to it. Just give them the email address you have associated with your paypal account. They log on to their paypal and send money to that address. You log onto your paypal account, click withdraw and have a check sent, have it transferred to your bank account or just leave it in your paypal account. Paypal will help themselves to 3%.
     
  6. Spooky Action

    Spooky Action Member

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    Good answers.
    It is pretty intuitive after you have done it once.
     
  7. DrumBob

    DrumBob Gold Supporting Member

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    If you accept a payment from someone, Paypal takes like 3.25% commission out of your total automatically. I have been sending postal money order lately on Ebay purchases, and no seller has objected yet. I save the seller that 3.25%,
     
  8. Jon C

    Jon C Silver Supporting Member

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    Beware that as of Nov. 2014 a buyer now has 6 months to claim that your sold item is "not as described" and request a refund.

    Many who are not running commercial businesses find this unreasonable and an invitation to abuse due to buyer's remorse or dishonesty. It was less of a problem with the 45-day former window but still happened at times.

    The new rule means your sale is not reliably final for 6 months. Unacceptable IMO and some are backing away from accepting Paypal on any significant transaction.
     
  9. ChorusCrackpot

    ChorusCrackpot Member

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    It's basically a middle man bank account. The account name and number is the email address you use to register the account.

    When someone buys something from you, they enter your email address that you have registered in your PayPal account. PayPal then debits their account, and credits your account to the same value minus a commission.

    It's fairly steep, but otherwise PayPal doesn't charge "maintenance fees" and other such fees like most banks.

    The buyer will already need to have money in their PayPal account- usually this is linked to a 'normal' bank account that it withdraws from.
     
  10. Jarrett

    Jarrett Member

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  11. geoangus

    geoangus Member

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    I'm not sure what triggers the mechanism, but funds sent aren't always immediately available. I remember selling some gear and having to wait for nearly two weeks before the funds were released. The proceeds were being used to fund another purchase and fortunately that seller was willing to work with me while I waited.
     

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