PayPal users

jimi64
jimi64 Posts: 85
edited February 2008 in The Clubhouse
I have a question for anyone who uses paypal.I recently set up an account but I cant see anywhere on how a seller receives money:by check in mail or what.Sure I overlooked it but would appreciate any info before I go back looking:)Thanks Jim
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  • bobman1235
    bobman1235 Posts: 10,822
    edited February 2008
    They receive the money into their OWN Paypal account electronically. How they withdraw taht money is up to them, just as it is up to you how to deposit the money to send to them.
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  • MKZ
    MKZ Posts: 1,068
    edited February 2008
    Under My Account>History
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  • PhantomOG
    PhantomOG Posts: 2,409
    edited February 2008
    in before "Paypal sucks!" :D
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  • danger boy
    danger boy Posts: 15,722
    edited February 2008
    paypal deposits money into your account once the buyer of your item sends you the money.. then you can choose to withdraw it by having pay pal cut you a check and mail it to you.. very slow. or you can withdraw it yourself into your bank checking account.. that usually only takes a couple days.

    paypal does charge you as the acceptor of the money from a buyer. if you pay someone with paypal, then they incur the fee.
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  • jakelm
    jakelm Posts: 4,081
    edited February 2008
    danger boy wrote: »
    paypal deposits money into your account once the buyer of your item sends you the money.. then you can choose to withdraw it by having pay pal cut you a check and mail it to you.. very slow. or you can withdraw it yourself into your bank checking account.. that usually only takes a couple days.

    paypal does charge you as the acceptor of the money from a buyer. if you pay someone with paypal, then they incur the fee.

    I am always the one sending the money, never receiving. Is there a standard rate PP charges or does it depend on the amount purched?
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  • jimi64
    jimi64 Posts: 85
    edited February 2008
    Thanks for the info
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  • danger boy
    danger boy Posts: 15,722
    edited February 2008
    jakelm wrote: »
    I am always the one sending the money, never receiving. Is there a standard rate PP charges or does it depend on the amount purched?

    depends on the amount.. sorry I don't remember the exact % though..
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  • jwhitakr
    jwhitakr Posts: 568
    edited February 2008
    jakelm wrote: »
    I am always the one sending the money, never receiving. Is there a standard rate PP charges or does it depend on the amount purched?

    Paypal seems to hide their fee structure deep within the recesses of their 'Help' section ... it always takes me about 10 searches to find the damn thing.

    https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside
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  • jakelm
    jakelm Posts: 4,081
    edited February 2008
    jwhitakr wrote: »
    Paypal seems to hide their fee structure deep within the recesses of their 'Help' section ... it always takes me about 10 searches to find the damn thing.

    https://www.paypal.com/us/cgi-bin/webscr?cmd=_display-fees-outside


    Thanks Jw, so if I have a paypal account and I send money to another paypal account, then its free.

    So why do some people charge a fee that they call "PayPal" fee? When its free from one paypall to the next.
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  • jflail2
    jflail2 Posts: 2,868
    edited February 2008
    I think those fees are for credit card transactions, not cash to cash.
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  • Midnite Mick
    Midnite Mick Posts: 1,591
    edited February 2008
    The receiver of the money is charged the fee. I think the actual fee is 3.1 %. That's why an add often states that if a purchaser pays via paypal to add 3%.

    Mike
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  • jwhitakr
    jwhitakr Posts: 568
    edited February 2008
    Sending money to someone using Paypal is always free. Receiving money using Paypal is where the fees come into play ...

    Unless you are a very active Paypal user (meaning you receive $3,000 USD or more of Paypal payments per month), the fee is going to be 2.9% of the amount of money sent to you plus a flat fee of .30 USD. I think most people round this up to 3% when they are selling goods just to make it easy on themselves and the buyer.

    This is all only applicable for U.S. to U.S. transactions ... if you are outside of the U.S., it's a whole different fee structure that I have no clue about.
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  • rskarvan
    rskarvan Posts: 2,374
    edited February 2008
    jimi64 wrote: »
    I have a question for anyone who uses paypal.I recently set up an account but I cant see anywhere on how a seller receives money:by check in mail or what.Sure I overlooked it but would appreciate any info before I go back looking:)Thanks Jim

    When I receive money by Paypal... I simply transfer it to my checking account for free. Receiving money INTO Paypal is where the 3% charge hits. Transferring it into my checking account doesn't cost anything and usually takes about 3 days.
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  • Systems
    Systems Posts: 14,873
    edited February 2008
    Lets check this. Send me as much money as you can. Send it to my PayPal account and I'll transfer the deposit into my Nigerian bank account and my church will send you a lottery ticket. Keep this ticket until we call you. If all goes well I will pay the 3% fee for the money you send me and you will wait to see if you win the lottery. I'll update as time allows.

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  • rskarvan
    rskarvan Posts: 2,374
    edited February 2008
    stereo_luver..... didn't you used to work at Enron?
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  • Systems
    Systems Posts: 14,873
    edited February 2008
    I don't understand the question?

    Chuck
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  • J_Kennedy
    J_Kennedy Posts: 137
    edited February 2008
    stereo_luver wrote: »
    I don't understand the question?

    Chuck

    I think it was supposed to be funny. :D Liking your offer to an Enron exec., but isn't only funny if you don't know what really happened at Enron. If you do, it's not as easy to find the link.

    How's that for a quick explanation of his question? :D
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  • devani
    devani Posts: 1,497
    edited February 2008
    J_Kennedy wrote: »
    I think it was supposed to be funny. :D Liking your offer to an Enron exec., but isn't only funny if you don't know what really happened at Enron. If you do, it's not as easy to find the link.

    How's that for a quick explanation of his question? :D

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  • Systems
    Systems Posts: 14,873
    edited February 2008
    It was in response to the grand jury......LOL

    Chuck
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  • reeltrouble1
    reeltrouble1 Posts: 9,312
    edited February 2008
    like the misfit, paypal ............

    is out to get you.

    RT1
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