How does someone get paid through paypal?

[71T Targa]

I have a paypal account that I've used to pay with before, but I've never been paid. How does this work? Are there additional steps I need to do through paypal?

Thanks, Joel

[Arizona_928]

kinda tricky you have to confirm your bank. that usally is just you putting you account number and routing number to paypal. then once you get money sent to you; you have the option to either keep it in your paypl account, request a check, or do a instant transfer.. "the instant transfer take a couple days though"

[jester911]

You don't have to use your bank. I only have a credit card with them. You end up with a positive balance after someone pays you. You can then use that balance to buy other things or you can withdraw it in a few different ways.

There is no way in hell I would give them my bank #s

See my other thread on a related subject.

[71T Targa]

Originally Posted by jester911

You don't have to use your bank. I only have a credit card with them. You end up with a positive balance after someone pays you. You can then use that balance to buy other things or you can withdraw it in a few different ways.

There is no way in hell I would give them my bank #s

See my other thread on a related subject.

That thread got me thinking about this, andI don't want to get in that situation. But then others add that they'll never keep a balance, so in the end how do you get your money?

[Arizona_928]

Originally Posted by jester911

You don't have to use your bank.
There is no way in hell I would give them my bank #s

See my other thread on a related subject.

ohh shucks!

[Carl Bauer]

Here are all the ways you can withdraw the $ from your PayPal account.



I never leave $ in my PayPal acct. as they're not FDIC insured.

[steve911]

A few years ago, I set up a separate checking account just for paypal transactions. Bank was offering free checking for 120 years (really!). Only thing it cost me was $4 for a box of checks.

When I get a payment for something (auction, center caps, etc), I just move the $$ from my paypal account and into this checking account. Then I move the $$ again, so paypal can't reach into the account and take funds (never happened to me). A little more work, but it keeps our joint checking account FAR away from paypal.

And my paypal account is a PERSONAL account, so I can't/won't accept payments made with a credit card. Avoids the additional fees that paypal charges for accepting credit card payments. I specify to the buyers that payments have to be bank transfers or echecks only - no credit card payments. When I sell on ebay, I don't list paypal as a payment option, since they don't allow you to specify how payment is to be made, but I contact buyers after the auction and make it available to them if they so choose.

[71T Targa]

Originally Posted by steve911

snip... And my paypal account is a PERSONAL account, so I can't/won't accept payments made with a credit card. ...snip

And there's something else I didn't know. So, because I have a personal account people can't pay through paypal with a credit card? That's pretty much the only reason to get paid through paypal isn't it?

[kstar]

If you want, you can accept credit cards with a personal account - I do and think it is worth the fees for the convenience it provides to folks who want to use a cc. I do like to avoid ccs on big ticket items though . . .

I have a PayPal debit card and usually take money out this way.

In nine years or so with PayPal, I have rarely had problems, but the handful of problems I have had have been a huge pain in the butt.

YMMV.

[gr8fl4porsche]

I never take the money out. Just buy something else and use the credits from Paypal. With a wife like mine, the money doesn't last long.

[steve911]

Originally Posted by phred68

And there's something else I didn't know. So, because I have a personal account people can't pay through paypal with a credit card? That's pretty much the only reason to get paid through paypal isn't it?

I look at paypal as helping to facilitate the flow of funds, but not to be the only means (for me) to make that happen.

With a personal account, you can do 5 cc or debit card transactions per year (and pay the fees). I simply choose not to incur the additional fees. I explain to people that it needs to be a bank transfer or echeck and usually that suffices. If not, we resort to money order, etc.

Its more cumbersome, but the additional paypal fees can be prohibitive, particularly for smaller transactions and its just not worth it to me.