Paypal?

[raksyasmin02]

Ok, so what's the deal with paypal?

Is it TOTALLY free? If people send me money, where does the money go? How do I get my money once its been sent?

I'll explain all this in a day or two, but I really kind of need to know...

HELP!!!!

Comments

[jagnightwalker]

Yes, it's totally free, unless you want a business account (from which you get a debit card to use). People send you the money and it remains in your paypal account unless you choose to have it deposited in your bank account (usually takes 3-4 business days).

Good thing about keeping it in your paypal, it's always there to use for your own ebay shopping, but pretty meaningless otherwise unless you have it transferred or get the business account w/debit card. There are fees taken out of every transaction with the b. account, but minor ones.

[haflagirl]

Actually it's mostly free. Jag, correct me if I'm wrong here, but I'm pretty sure that it's free to get the account and to send money and to transfer your money into your own bank account, but they charge a small fee (1.9-2.9% + $.30) to receive money.

I just upgraded to a business account and as far as I can tell, there's no charge to do just that, but your per transaction fees do go up a bit if your income goes up. I just set it up to accept workshop registrations and it's working great!! For a $30 workshop, it keeps $1.17, so..2.9% plus $.30.

Guess I'll find out in time if there are more business fees, but I've not encountered them yet.