Comments | advice_source: does anyone know about paypal?

xscene_laura in advice_source

does anyone know about paypal?

Aug 28, 2009 07:38

does anyone know what kind of fees paypal charges ive treid their site and ive been to help center i just cannot understand. can someone explain it to me preferably someone that uses paypal to buy things. cause i have a CHECKING ACCOUNT and alot of the online stores only accept paypal(not just my card) and i dont know what kind of things paypal is ( Read more... )

Comments 11

burnedxoutxstar August 28 2009, 22:02:41 UTC

When you sign up they charge $1.00 just to verify your account, but that gets reversed (you get it back).

There are fees on paypal transactions but the fees are taken out of what you pay. So like if you pay Joe's Shop $100 paypal takes out .30 and a % and Joe's Shop may only actually receive $97 or so. In other words, you don't get charged...they do.

xscene_laura August 29 2009, 04:45:49 UTC

oh that makes sense but what about the paypal account. does money have to be in it for me to be able to buy something? is it two seperate things like my bank account and paypal account? like does it take from my bank account to be in my paypal account so i wont have it in my bank account anymore? i dont understand

burnedxoutxstar August 29 2009, 05:02:29 UTC

It can do either one.

You can either put money from your bank account into your paypal account (kind of like an online piggy bank), or you can have paypal take the money directly from your bank account and send it to the merchant you're buying from.

xscene_laura August 29 2009, 05:06:49 UTC

i like the 2nd one. i read on the site that there was a fee or something for taking from ur bank: this is from the site that confused me:
it's free within the U.S. to send money to family and friends when you use your PayPal balance or bank account and you send the money through the PayPal website.

There is a fee to send money as a personal payment using a debit card or credit card. The fee in the U.S. is 2.9% plus $0.30 USD of the amount you send. For example, if you send $100.00 USD by credit card, the fee would be $3.20 USD ($2.90 + $0.30). For personal payments, the sender can pay the fee or pass it on to the recipient.

Thread 7

ticktockman August 28 2009, 23:30:28 UTC

My experience with paypal is that they don't charge me a fee for making purchases - only the transaction amount itself. If a vendor charges $150 for an item plus $7.50 shipping, and I authorized payment of $157.50 through Paypal, Paypal will deduct $157.50 from my bank account.

For each transaction, you have to specifically authorize Paypal to pay the amount they are to take out. There is no service fee. Just make sure that you actually have the amount in your account before you authorize the purchase, because if you don't that is like bouncing a check, and you'll see hefty fees from your bank, and probably from Paypal and maybe the vendor, too.

If you become a vendor and accept payments through Paypal, then they will charge you fees for processing the payments to you.

*daha*

xscene_laura August 29 2009, 04:47:08 UTC

ok so its getting payments through paypal that is when they cahrge the ffes ok ok

hoodwink August 29 2009, 00:45:06 UTC

I've never dealt with any fees? I have my checking account attached to my paypal account, though, so not sure if that makes a difference or not. I use paypal mostly to gamble sometimes at worldwinner.com (games) and it just subtracts the amount from my paypal. It's never charged me a fee.

If you're still confused, you can probably call someone at paypal or send them an email.

xscene_laura August 29 2009, 04:48:14 UTC

ok i dontthink i will call them