A little help........ PayPal question

[Pete]

Hey folks, I'm looking to sell an old motorcycle I have, and a friend wants to pay via PayPal. I've never done this before. Anybody ever do this that can give me pointers.

I have a cred card on file I use when buying stuff. Do I need a bank account registered there to accept payments ? Theres a tab for requesting money.... is that what I use to get paid ?

[Riggins77]

Hey folks, I'm looking to sell an old motorcycle I have, and a friend wants to pay via PayPal. I've never done this before. Anybody ever do this that can give me pointers.

I have a cred card on file I use when buying stuff. Do I need a bank account registered there to accept payments ? Theres a tab for requesting money.... is that what I use to get paid ?

Try Google, because when Google can't find something, it asks Chuck Norris for help.

[SkinsOrlando]

Pete PM Die Hard he should know.

[Blondie]

I use PayPal all of the time.

Open an account.

They will send you like .03 cents to verify your bank account.

Once it is verified.........you can get money or send money thru paypal.

It is very easy and safe.

If you GET money........you can request it go to your account.

The step by step directions on the PayPal site are very easy.

Easy enough for a blonde.

[Huly]

You can send money to your bank account very easy like Blondie stated. They do charge a fee for people paying you by paypal depending on the amount paid depends on the price.

[Mark The Homer]

You can send money to your bank account very easy like Blondie stated. They do charge a fee for people paying you by paypal depending on the amount paid depends on the price.

Generally three percent or very close.

[Die Hard]

Pete, you can use your credit card or bank account to set it up. I used my credit card..... so then I used Paypal like a credit card and it worked directly through it. I subsequently set up my bank account info.... so I can make withdrawals.

Keep in mind... it takes about a month to set up because they put a number on your credit card statement/bank account statement with that initial deposit of 3 cents... so you can use that code to verify. So, you have to wait (approximately 30 days) until that statement comes in before you can proceed.

So if that's the route you want to go.... and you're in a hurry to get the cash... get started on it asap.

[Blondie]

Pete, you can use your credit card or bank account to set it up. I used my credit card..... so then I used Paypal like a credit card and it worked directly through it. I subsequently set up my bank account info.... so I can make withdrawals.

Keep in mind... it takes about a month to set up because they put a number on your credit card statement/bank account statement with that initial deposit of 3 cents... so you can use that code to verify. So, you have to wait (approximately 30 days) until that statement comes in before you can proceed.

So if that's the route you want to go.... and you're in a hurry to get the cash... get started on it asap.

It did not take me a month....took like 2 days. I just went on line to my cc account and looked for the transaction. I used the cc attached to my bank accounts.

[Die Hard]

It did not take me a month....took like 2 days. I just went on line to my cc account and looked for the transaction. I used the cc attached to my bank accounts.

Sure, if you want to make the assumption that Pete has credit card account setup online. I'd imagine that a vast majority don't.

[Blondie]

Sure, if you want to make the assumption that Pete has credit card account setup online. I'd imagine that a vast majority don't.

I was not making any kind of assumption.

I stated what I did and how long it took ME.

That means it can take HIM anywhere from a couple of days to a month.

[jrockster21]

You can send money to your bank account very easy like Blondie stated. They do charge a fee for people paying you by paypal depending on the amount paid depends on the price.

Generally three percent or very close.

That's only for credit card purchases. Transfers from bank account to bank account are totally free.

So, you have to wait (approximately 30 days) until that statement comes in before you can proceed.

It did not take me a month....took like 2 days. I just went on line to my cc account and looked for the transaction. I used the cc attached to my bank accounts.

Sure, if you want to make the assumption that Pete has credit card account setup online. I'd imagine that a vast majority don't.

Actually, the vast majority do. I'd be willing to bet that the vast majority if not all credit card accounts are accessible online. However the deposit thingy is only for your bank account - I don't think they can "deposit" money to your credit card, can they?

[Die Hard]

Actually, the vast majority do. I'd be willing to bet that the vast majority if not all credit card accounts are accessible online. However the deposit thingy is only for your bank account - I don't think they can "deposit" money to your credit card, can they?

Because the account was originally setup through my credit card... yes... my credit card would have had a debit deposited into it. No different than a refund or payment made

Again, I think you're making the assumption that your credit card is at the same bank as your bank account. That isn't always the case.

I wouldn't imagine that a lot of people would create an online account just for their credit card. I think most people still get paper statements every month.

[Pete]

That's only for credit card purchases. Transfers from bank account to bank account are totally free.

Actually, the vast majority do. I'd be willing to bet that the vast majority if not all credit card accounts are accessible online. However the deposit thingy is only for your bank account - I don't think they can "deposit" money to your credit card, can they?

That's the question basically. Can they put money into a credit card account ?

[Die Hard]

That's the question basically. Can they put money into a credit card account ?

Yes, they can.

[jrockster21]

Because the account was originally setup through my credit card... yes... my credit card would have had a debit deposited into it. No different than a refund or payment made

Ah, okay. That makes sense.

Again, I think you're making the assumption that your credit card is at the same bank as your bank account. That isn't always the case.

I wouldn't imagine that a lot of people would create an online account just for their credit card. I think most people still get paper statements every month.

No assumptions made. Even if he's not online with his CC, he can sign up in 30 seconds. Just go to the website of the bank/company the credit card is with and sign up. Takes no time at all.

[jrockster21]

That's the question basically. Can they put money into a credit card account ?

If it works the way DH says it does, you'll be getting a credit on your card. This will go towards any balance you currently have, or they will send you a check for any positive balance. If you transfer it to your checking account (or other account), you have instant access to the money, and can move it to more consumer-friendly venues than your CC, like a money-market account, or a savings account. :2cents:

[Blondie]

https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/cps/general/NewConsumerWorks-outside

How PayPal works.

Really easy.

[Pete]

Thanks for all the input folks

:notworthy

[Bang]

One more piece of input is necessary.

BEWARE of fishing and spam. A lot of emails will come to you that will look exactly like they are from Paypal. They will even link to a page with a Paypal address... or so it would seem.

You will get a ton of "account limited".. or "New address added to your Paypal account", and a whole slew of ways asking you to click and confirm your account.

Ignore ALL emails from "Paypal".

If it is a legitimate correspondence from Paypal, the message will appear when you log in to your account. So if you see an email with a subject line from paypal that looks legit, simply go to paypal and log in,, and if it is, the message will be there.

On the positive side, once i fell for that about 4 years ago,, the email looked right and it's concern was very legitimate sounding, and as soon as i sent my info, i realized I had probably made a big mistake, so I immediately called Paypal and got my passwords and such changed. Took no time at all, and I felt no repercussions from my stupidity.

On occasion I have also had to return money to a buyer, and Paypal handles it easily and with no problems at all.

I love the service, just watch out for those emails.

~Bang

[Mark The Homer]

Yep, I just got one a couple weeks ago. It was a so-called receipt for my paypal payment of $362 which I sent for a wedding gift. Except that I didn't send it. The idea is they want you to go to their site and correct the problem and thereby give up all your info.

Here's their link:

http://shutter07.pictures.aol.com/data/pictures/14/003/7F/EF/8D/50/-a-egZAxmYsOmMJy9pT9ynA39bm+Fnng02D2.jpg

Here's what the scam site page looks like:

[Bang]

Yep, Mark. That is VERY typical. I get probably 25 to 30 pieces of 'paypal' emails a week, and none of them are legit.

Fact is, I've never received a single email from paypal about anything that I didn't generate first.. like a payment receipt, or a sales notice.

~Bang