Ebay/Paypal question - CEG Archives

if i sell something on ebay, and the payment gets sent to my paypal account, does that money go on my debit card?

No.

you can transfer the money from your paypal account to your bank account if you have them linked

It goes into your paypal account. From there you can move it to your account that the debit card pulls money from. You have to log in to paypal and do this manually. You can have it done electronicly or they will send you a check for a fee. Hope this helps.

so paypal is online based money pretty much.....

its like another bank account that you don't earn interest on.

PayPal = ripoff

Originally posted by Davo:
PayPal = ripoff

Agreed. I get taxed on all money that I am paid rather than establishing a flat rate annual fee for corporate accounts, It's a joke...

I know it's popular to bash PayPal, but I sure like it. I use it exclusively when I buy/sell stuff on eBay. Unless it's a very expensive item, the transaction fee is far less than postage, the hassle of waiting on a check, and gas & time spent going to the bank. It's cheaper than a $10 wire transfer and neither party has to give out sensitive bank account information. And I run a small online business--we have the option of accepting credit card payments via PayPal, and their charges are FAR less than a merchant account would cost us given our transaction volume. I've heard the horror stories about people getting scammed so I'm aware that it isn't exactly perfect, but it certainly has made life easier for me.

Originally posted by Davo:
PayPal = ripoff

WHOA [censored]!! 2nd time I've agreed with you, today!

*looks out window* nope, no apocalipse, yet.

You can set up paypal to deposit in your checking account, just give them your bank account number and routing number (and soul), and they put the money back in your account- takes about 2-4 days, though.

Paypal sux. That company has made a TON of money off of me, probably several hundred dollars in fees. I think I read on CNN they were going to jack up their percentage collection here soon, to like 8.3%.

if some one is buying something from me all the need is my email adress to send me money through payapl?

yup

Originally posted by ZetecChris:
if some one is buying something from me all the need is my email adress to send me money through payapl?

Yes, as long as you have a paypal account!!

Originally posted by Woodencross:

Originally posted by ZetecChris:
if some one is buying something from me all the need is my email adress to send me money through payapl?

Yes, as long as you have a paypal account!!

And if you don't, Paypal will send an email saying you have money and instructions how to get it.

Originally posted by STRYPED BS:

Originally posted by Davo:
PayPal = ripoff

WHOA [censored]!! 2nd time I've agreed with you, today!

Uh oh... Davo I think you are doing something terribly wrong to be having stryped agree with you...

Originally posted by liquidX:

Originally posted by STRYPED BS:

Originally posted by Davo:
PayPal = ripoff

WHOA [censored]!! 2nd time I've agreed with you, today!

Uh oh... Davo I think you are doing something terribly wrong to be having stryped agree with you...

Hey Dick Tubbs- don't you have some pics to take of a certain revived car?!

EDIT: Just got a pic in!!

Sweet-ass blue suit, X!

Well, in my case the money does go to my debit card, as PayPal now offers a debit card from MasterCard which you can use anywhere. I think it's rather convenient. Also, I've allowed them to invest money I keep in my account in the PayPal Money Market, which pays a dividend every month. To date, every month for three years now I have gained money, and never lost it. The percentage interest that I earn is usually about 8 times more than my bank account.

Originally posted by ZetecChris:
if i sell something on ebay, and the payment gets sent to my paypal account, does that money go on my debit card?

If you have a PayPal debit card, then yes it does. If you do, make sure that you have the card setup to do cash back, cause that adds up quick! My cash back is a straight 1.5%, it's only 1% if you sign up now, but I started getting mine before they decreased it.

Originally posted by Rishodi:
The percentage interest that I earn is usually about 8 times more than my bank account.

The current interest rate is 3.50%! Yeah, like your savings account can match that crap.

Originally posted by Tisby:
Originally posted by Rishodi:
The percentage interest that I earn is usually about 8 times more than my bank account.

The current interest rate is 3.50%! Yeah, like your savings account can match that crap.

I know, my bank gives me less than half a percentage nowadays. I can remember when I was making 3% off my savings account

INGDirect savings account is 3.4% currently, FDIC insured just like any other bank. That's where I keep my short term savings account. I mean I keep like $500 in the savings account at the bank where I have my checking accounts, but outside of that, it's all at INGDirect (I have my 1st/2nd mortgages thru INGDirect as well).

Regarding Paypal, I have an account, I find it very convenient when eBaying. I also have a $5000 Paypal LOC that I use for purchases because, just like with my checking account link, I get automatic insurance on the purchases (with credit card purchases using Paypal you don't get this). I don't do a whole lot of sales on eBay so I'm not very knowledgeable about the fee structure for selling goods in respect to Paypal, is that what some of you are complaining about?