PayPal, what's it good for?

I do take paypal. You have an account online with paypal. The money goes into your account like cash in a bank. There are 2 ways to get it out. One is, they issue you a bank debit card and it is exactly that. You can purchase, withdraw, etc. like any other bank card. Second, you click withdraw funds and withdraw the amount to your checking that you have locally. It goes directly into your home bank account at no cost. This process takes abt. 3 business days. Paypal is good because it will greatly increase your traffic and sales. The only time there is a hold is if someone pays from their own home bank and you have to wait the same amount of time for the check to clear. Most pay with credit card on file or money in their paypal account. That is instant.

rsmiller40

One thing non US sellers should be aware of when accepting Paypal is that on top of their transaction charges,they also offer an exchange rate that would be bettered by just about any tourist area late nite bureau de change office. Having said that ,I like it for paying and have probably bid on some things because it's easy to settle up,but it makes you think twice espec.as they don't seem to advertise it

That, since I live in the US, is out of my territory. However, I have sold to many international buyers through paypal.

rsmiller40

I've been using Paypal for most of this year and would recommend it, but not exclusively. It certainly simplifies overseas dealing.

As a buyer, I look for those who accept Paypal and often skip those that don't, sometimes it just looks too hard. I will never send cash though I have used Bidpay on two occasions.

As a seller, I prefer Paypal from overseas. I've tried "Paypal only" terms, but it seems to restrict your number of bidders. I think, as an aid to attracting bidders, it probably pays for itself but I haven't done the arithmetic.

PayPal's exchange rates may be worse than what is available at banks and tourist shops, but so far every time I've asked a seller who lists their prices in a foreign currency (mainly Euros & British pounds) to quote me the cost in US dollars, it's always been cheaper to pay them in their home currency, and let PayPal do the conversion.

Also, to keep the comparison fair, remember that some credit card companies charge a surcharge for any conversion to/from dollars. My CitiBank card used to have this surcharge (maybe it still does, but I don't use them anymore), one of my other cards from a smaller single-state bank has no surcharge (and used the same rate as CitiBank 2 years ago when I was travelling in Europe).

So keep all of the above in mind when you're trying to figure out which is the best method to pay someone in another country.

Personally, I prefer beads!

Thanks for your imput. These posts should certainly give them pleny to read and compare.

rsmiller40

Awesome! Thanks for the replies. So PayPal will actually give me a card that I can use like a prepaid credit card or take cash out like an ATM card?

Where can I read about this? Paypal.com has little info that I could find.

The card is an ATM card. They do also have credit cards seperate from your account. Go to the home page welcome and follow it through. It will tell you under a sub-heading of merchants, I seem to remember.

rsmiller40

Niice. So is there any fee's to get this card?

I still can find nothing on the website about this.

Finally I found something!

OK so I'd have to have a business account to get the ATM card. With that I would never pay anything right? The only time I'd be charged is when I recieve money..

it says "0.7% + 30¢ to 2.9% + 30¢" how does that work? How much would they take out for oh say a $100.00 sale?

Will I be charged an ATM fee?

Hey Coop!
If you go to the PayPal website, log on and go to "MY ACCOUNT" - overview.
There is a sidebar to the left of the screen that has the information you are looking for for the PayPal card.
The info stated on the website is as follows:

"Withdraw cash from your PayPal account at ATMs!
Pay for purchases wherever you see the logo
Qualify to receive 1.5% cashback on purchases
The new PayPal ATM/Debit Card makes your PayPal account better than ever.
Best of all, the PayPal ATM/Debit Card is free!"

Hope this helps!

-bjt

The rates for PayPal are determined if you have a standard account or a Premier/business account.
To find out more about fees, click onto "Fees" on the bottom of the page and click onto the link that states 2.9% + .30.
It will give you more info.

-bjt

It is certainly worth taking the time to look into if you are going to sell a lot on Ebay. You just need to investigate the possibilities.

rsmiller40

It seems that half the time I log on to PayPal, before I can access my account, I must sit through a screen offering a PayPal credit/debit card.

I have one and it still takes me there, but you just need to click at the bottom of the message and it skips straight through.

rsmiller40

Did you know Ebay list 1.7 million new items a day? I just heard it on TV. They have over 4000 employees.

rsmiller40

And there are a few others like it. They charge you money to use it. Last time I used it, they charged $5.75 minimum, but it was the only thing accepted by the woman I trusted from whom to buy Dior purses. Luckily, I have given up buying Dior purses (because- a) I have plenty and b) I was going broke).

I, also, avoid buying from anyone who doesn't accept Paypal, and I'm sure many others buyers do also.

Hi.

Bidpay offers to send $700 for $20 in fees for the buyer, which can sound very expensive, but ... paypal charges the seller instead, so many sellers have a little notice, that the buyer should pay the extra fess (not all do though). And maybe it's 2.9% + $0.70 of the amount for a US buyer to an US seller... /that would make it $21 in fees ... not THAT bad, but now see how it really become very very bad ...
A transaction between a US seller/buyer to a Non US seller/buyer, will make the fees go up considerably ... namely 4.9% + $0.7 (If I remember correctly), that would be $35, which is almost twice the amount that www.bidpay.com charges.

I haven't mentioned the other pro's and con's for each type of payment (paypal,bidpay), just focued on the price...

Just my two cents...

Regards: Jacob

OK.. I know this is a stale post but I have only been a member for a week and want to add my imput.. lol

I LIKE PAYPAL!

There, I said it..

I have multiple selling profiles, and one buying profile. I have my buying account as my primary. Whenever I send money, my buying account is shown in the 'from' line. BUT, I can accept payments from my other email addresses! It all goes into the same account! Yippie! So the money I make on eBay can be spent just as fast on eBay... LOL The only downside is when I have to issue a refund my buying email address is in the from line on that email..

I have had no trouble with Paypal like some horror stories I have heard and have been using it for around 2 years. While e-checks do take a couple days to clear, the rest of the payments via paypal are instant! I can spend it that minute, or use my debit card to withdraw that money at an ATM or as cash back at the grocery store.

I still never would go solo with Paypal. I still accept Money Orders or good ol CASH. (Most people overlook that option.. just say that they send it at their own risk) I HATE CHECKS! You can never be sure if they are good so you have to wait. And if they take a while to clear, the buyer gets pissed at YOU for the delay. Most people ship after 14 days of deposit, but that is not always good enough. My dad had a check bounce on day 23!.. I don't know about others, but I can not afford to take the risk of a $30 NSF fee from my bank after already sending the item out!