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The Magic Cafe Forum Index » » Not very magical, still... » » Details on Paypal, please... (0 Likes) Printer Friendly Version

AsL
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Fellow Café Members,

I'm not the most technical savvy person and I'm desperate for some help. I'm looking for details on how paypal works. The more info I can get, the better. Here are some basic questions I have about paypal although all information is greatly appreciatd.

-If I've added a bank account (or credit card) to my paypal account and somebody sends me money through paypal, does it automatically get sent to my bank account?

-If I purchase something through paypal (assuming I've added a credit card), will paypal automatically retrieve the necessary funds even if I haven't received any funds through paypal before?

TIA for any help,
magicianguy4life
ralphdean
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If you buy something using Paypal, first the money comes from the Paypal account, then the bank account.

Money added to Paypal from sales goes into the Paypal account. When you want those funds you can ask for a transfer.
AsL
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Thanks ralph for the info.

Can anybody else provide me with any further details?
Muckey Spleen
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Yeah - there's a website with answers to your Paypal questions. Here it is:
https://www.paypal.com/
Jerrine
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Then there is:

http://www.paypalsucks.com/

...and now you know...the rest of the story.
AsL
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Quote:
On 2007-07-24 16:40, Muckey Spleen wrote:
Yeah - there's a website with answers to your Paypal questions. Here it is:
https://www.paypal.com/

Muckey,
I just wanted to say that your sarcastic comment was unnecessary. I've read quite a lot at paypal's website so far but I thought that I'd ask the Café for a little help also...seeming that I've had a pleasant experience so far. If you weren't trying to be sarcastic than I apologize but next time you should reword your post. The Café has been a pleasant place to ask for help, receive advice, and learn from others comfortably so please help keep it that way.

On the other hand, thanks for the website Jerrine. I'm always open to learn about other point of views.

All the Best,
magicianguy4life
AsL
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Paypal's website isn't that informational...
tnscot
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I've had nothing but good luck with Paypal. The short version of how it works is that they have a link to your bank account. And they also have a link to the bank account of the person on the other end of the transaction. When a transaction goes down, they take it from one and place it in the other. That way, the buyer and seller never need to exchage that info with each other.
As Always,
Scot Legdermain
Muckey Spleen
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Wasn't being sarcastic, Magicianguy4life. Since you started a thread on this same question over a year ago, I figured it was time you visited PayPal and got some answers. Your smug response is noted, along with the fact that after responding you took my advice and went to PayPal's site. Sorry you couldn't find the information you sought.
MagiClyde
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If you sell something on Ebay, for example, the money from the sale is put into your Paypal account, minus any transaction fees. The money will then sit in your Paypal account until you either transfer it to your bank account or buy something and pay with Paypal.

When buying stuff, the default in Paypal is to first pay with any funds you may have in that account. If there are insufficient funds, the usual default is to draw the money from your designated bank account. You can, during the payment process, select an alternate funding source, such as your credit card. Than way your bank account won't take the hit.

Hope that information helps.
Magic! The quicker picker-upper!
Pete Biro
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Money you recieve in your PayPal account doesn't just sit there... it earns interest.

The advantage is when buying you don't have to have the seller wait 'til a check clears before they ship.

I am a solid supporter/user of PayPal.
STAY TOONED... @ www.pete-biro.com
irossall
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Quote:
On 2007-07-24 22:20, magicianguy4life wrote:
Quote:
On 2007-07-24 16:40, Muckey Spleen wrote:
Yeah - there's a website with answers to your Paypal questions. Here it is:
https://www.paypal.com/

Muckey,
I just wanted to say that your sarcastic comment was unnecessary. I've read quite a lot at paypal's website so far but I thought that I'd ask the Café for a little help also...seeming that I've had a pleasant experience so far. If you weren't trying to be sarcastic than I apologize but next time you should reword your post. The Café has been a pleasant place to ask for help, receive advice, and learn from others comfortably so please help keep it that way.

On the other hand, thanks for the website Jerrine. I'm always open to learn about other point of views.

All the Best,
magicianguy4life


There is no shortage of wiseguys here on the Magic Café. Maybe you shouldn't be so thin skinned that you let this bother you. While we all should be respectful of each other this is not always the case.
Some people can't stand it when someone either starts a thread that has already been discussed sometime in the past or repeats a thread that they themselves wrote sometime ago. I will never understand why this is troublesome to some but that is just the way it is and it will never change due to the fact that we are people and we will on occasion rub each other the wrong way.
That's Life!

As far as PayPal goes, I have been using this service for quite some time now and have never had a problem with them although an occasional problem must come up sometime as with any business but I am sure that PayPal will do whatever they can to make things right.
Iven Smile
Give the gift of Life, Be an Organ Donor.
Andy the cardician
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Use the search function - as there are a couple of thread about paypal. Some good experience, some bad experience. . . . then make up your own mind.
Cards never lie
AsL
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All of your help has been greatly appreciated. Once again, the Café is extremely helpful. Thanks.

All the Best,
magicianguy4life
Jerrine
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I'm wary of doing business with an entity that acts like a bank but is not regulated as a bank. That and all I read about from people who have had their assets frozen for no wrongdoing of their own. Oh yeah and people scamming them.

Plenty of people have no problem with the PayPal, and plenty of snake handlers haven't been bitten, yet.
rossmacrae
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Quote:
On 2007-07-25 01:47, Pete Biro wrote:
Money you recieve in your PayPal account doesn't just sit there... it earns interest.

Actually, it receives over 5% (at this writing) in a money-market fund - pretty good.

I, too, have used Paypal extensively and had no problems. Questions if you have an account already - try this:

For general PayPal account inquiries, please call us toll-free at:
1-888-221-1161. Hours of Service:
4:00 AM PST to 10:00 PM PST Monday through Friday
6:00 AM PST to 08:00 PM PST Saturday and Sunday
irossall
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Quote:
On 2007-07-25 15:28, rossmacrae wrote:
Quote:
On 2007-07-25 01:47, Pete Biro wrote:
Money you recieve in your PayPal account doesn't just sit there... it earns interest.

Actually, it receives over 5% (at this writing) in a money-market fund - pretty good.

I, too, have used Paypal extensively and had no problems. Questions if you have an account already - try this:

For general PayPal account inquiries, please call us toll-free at:
1-888-221-1161. Hours of Service:
4:00 AM PST to 10:00 PM PST Monday through Friday
6:00 AM PST to 08:00 PM PST Saturday and Sunday




I am not getting any interest nor am I paying anything to PayPal for their service.
You can set up a Money Market Fund but as far as I know you must keep a minimum amount of money in your account and make a regular contribution to the fund. I may be incorrect on this but that is my take on it. I'm sure someone here will clarify this.
Iven Smile
Give the gift of Life, Be an Organ Donor.
Dennis Michael
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Be careful because, anybody can request money from you for no reason. If you hit the wrong button, you can easily send money to a spammer.

Paypal is good if you are aware of it limitations and know that you will get all kinds of spam requesting your paypal information. Don't answer them.
Dennis Michael
Big Jeff
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If I want to receive payment for something I'm selling do I give the buyer my email and tell him to send the money via paypal and then it will showup in my paypal account?

Then how do I get the money from paypal?

I have some magic I want to sell on the Café and want to use paypal.

Thanks,

Big Jeff
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