Thread: Paypal - receiving payment question

Hello all,

I have a Paypal account setup to make payments on Ebay with my credit card. Can I also receive payments?
Or is there something additional that I need to do. Like open a bank account?

All help appreciated,

How bout I buy something and we find out... :-) You should be able to receive payments as long as you have "enrolled". Did you enroll? Don't forget that it costs money to receive payments. I always forget to charge about 2% extra. You'll have to check I can't remember how much it is. On an expensive deal that could be real money. I usually tell people they can send me money on my Email address and they usually find me pretty easy.

Yes, Randy, I had to figure this out recently myself.
It is super easy to receive money from Paypal. The sender just sends the money to your email address. Paypal notifies you that the money has been sent, and you will see it in your account.

It is a bit of a pain to get the money OUT of you Paypal account. I just leave it there to purchase stuff from Lynn, Ray, etc. who accept Paypal as payment.

When you pay for something with Paypal, they will first deduct the money from you balance, and then bill your credit card for the balance.

Bob

So, lets see if I have this straight. The buyer goes to the Paypal website, selects payment and then specifies my email address and the amount. That amount less approx 2 percent gets credited to my paypal account.
Right?

Thanks guys,

And you get an E-mail, big huge honking banner of a thing, saying you have money in the PayPal account. Then you can go nuts on Ebay or you can transfer it to your bank.

I don't use a credit card. Will it work the same for me?

X

The Paypal fee may vary depending on the type of account. In the beginning they had free accounts but there was a monthly maximum attached. I have a Premium account for business and each transaction costs me 25 cents plus 3% of the total received. There is no limit to number or value of transactions though with that account.

Tony

I know that PayPal is controversial amongst buyers and sellers. Some sellers hate it. There are mini-horror stories about PayPal siezing accounts, some of which I feel are justified, I might add. PayPal has LOTS of rules to follow for sellers.

I am both a registered buyer and seller on eBay, plus I've registered a local checking account with PayPal. When my PayPal balance gets to be more than I need in the forseeable future, I transfer the money into my checking account for no fees. If I want to buy something from someone who allows PayPal as long as no credit cards are used, and my PayPal balance is low, I transfer money from checking to PayPal, again for no fee.

If you have a bank account, you don't need a credit card to use a PayPal. Just register your bank account and transfer money back and forth.

I build the PayPal fee into my opening or reserve prices. That's "legal." What you can not do with PayPal is add on an extra fee to your selling price at settlement to cover the PayPal fee you'll be charged. I haven't compared lately, but once when I did, the PayPal fees were lower than the BidPay fees.

BidPay, in my view, is somewhat a pain to use for the buyer. First, they get charged a fee by BidPay for issuing the money-order. Then there is a week or two delay in getting the money-order to the seller. The purchase often does not arrive for three to five weeks because of that delay. That seems to me to take the edge off of the gratification factor in buying the item.

Anyway, my thoughts ....

Thanks guys!

Here is an update on the Paypal adventure. My buyer tried to pay me thru Paypal with his credit card.
Paypal sent me a notice that I had a payment "Pending". To receive the payment to my "Personal" Paypal account the buyer would have to pay from a balance in his Paypal account or I would have to upgrade my Paypal account to either a Premier or Business account. I will now have to check out what Paypal requires for either of these two account types. BTW, the buyer is in Singapore.
I will get the buyer his razor even if I have to engage in some bartering/swapping.

The adventure continues,