[Iabow]

Maybe a stupid question but when you're a seller and receive payment from the buyer using paypal, how does it work? Give em your email address and it goes to paypal who then puts it in your account or what?

I have used it for payment but never as a seller and didn't find too much about it on their website. Thanks

 

[DUCK29]

You can choose an option to transfer it to the same bank account you pay for stuff with paypal out of.Or you can leave it in paypal, to buy stuff with later.

 

[tedicast]

when I have a large amount in paypal. I transer it to my checking account. Smaller amounts, I just leave in their to use as petty cash on ebay, or hunting forum classifieds.

 

[Iabow]

Thank you guys. I sort of had that idea but wasn't sure.

 

[mike]

remember you are only insured for $500 in paypal so never let it get too far past that.

transfers to your bank take about 4 days

 

[JawsDad]

and if you can, open an alternate bank account to link with your paypal account. That way in the rare event that you do get hacked, your main cash is not at risk.

I do like others have said. Once I have more than 100-150 I move it to the bank. Otherwise I hold it in paypal for the odds and ends I stumble across.. Paypal also serves as a good "clearing" account to hide your fun money.. :wink: :zip:

 

[Darrel]

I run a special credit card and bank account just for Paypal. The credit card has a low limit and the bank account balance is kept to a minimum. Never hurts to be overly cautious.

Darrel

 

[thumperX]

seller...

Seller pays the 3% to paypal also, but nice to have alittle in there to play with....

 

[GOBLE4ME]

Paypal

You only get charged 3% if you have a Business Account. Personel Accounts are FREE (no charge) but you can not take payments via a credit card, only account transfers and only up to $500.00 at one time. I changed mine back to a Personel Account!!!!!

 

[Iabow]

Thank you guys, those are some great ideas, will do.