Paypal

[Ima saver]

I just went to e bay for the first time and saw something I wanted to buy. The seller will only take paypal, so I signed up for it.
Paypal did not ask me for a credit card. Can anyone explain paypal to me? How do they get their money if I win the bid?

[jmjj215]

Paypal links up people's bank accounts through an email address basically. Probably the best place to get a good explanation would be on their site. When (if) you win the auction, you'll simply click "Pay now" or something in your myeBay section and it'll take you to Paypal where you'll make the payment. The seller is then sent payment to his/her paypal account. If there aren't any funds in your paypal account, they'll draw on your checking account for the money.

[Ima saver]

They don't use credit cards? I don't like having things taken out of my checking accounts. I only put in the money I plan to spend on bills in my checking.

[abowers]

They do use credit cards... I have bought and sold a lot of things on Ebay and I have used my credit card and my debit card (linked to my checking account). They probably asked you to enter your bank information and then they made a couple of small deposits (like .03, .04) to confirm your account. Then when you buy something, you can pay through your checking account, or you can select something like "other funding options" and enter a credit card number to save to your account. Or you can go into your Paypal account now, and find where to save your credit card info so that it is already there when you go to pay for something.

[Ima saver]

Thanks abowers. I don't have a debit card because I never use them. I am not familar with pay pal and this is the first time I ever looked at e bay. (I am very new to computers) They did not ask me any financial information, just address, phone number and e mail.

[jmjj215]

They'll probably ask for it once you make your first purchase then.