Tell Me Your Thoughts On PayPal

**Broken Arrow** · 08-14-2006, 05:09 PM

Re: Tell Me Your Thoughts On PayPal

I've had and used a PayPal account for a few years now. To be fair, I rarely use it, but it hasn't given me any problems personally. I think PayPal is actually a spin-off venture from Ebay, born out of necessity to manage its online transactions. So, in that sense, Ebay has always had PayPal....

Perhaps someone else with more experience can chime in on this, but I think it's fine to use, especially on a casual level. If you're feeling extra paranoid (like me), you can always wipe your account information (such as bank account linking and transaction histories) when you're done with it....

**disneysteve** · 08-14-2006, 05:14 PM

Re: Tell Me Your Thoughts On PayPal

I think selling on ebay today almost requires a Paypal account. Many buyers won't bother dealing with sellers who won't accept Paypal payments. You are really limiting yourself by not taking Paypal, IMO.

Also, keep in mind that Paypal has one of the highest paying money market funds in the US, so money you maintain in your Paypal account is currently earning 5.01%.

**disneysteve** · 08-14-2006, 05:20 PM

Re: Tell Me Your Thoughts On PayPal

Originally posted by Broken Arrow

I think PayPal is actually a spin-off venture from Ebay, born out of necessity to manage its online transactions. So, in that sense, Ebay has always had PayPal....

I think I understand whay you are trying to say, but Paypal did start as an independent online payment service that was later purchased by ebay. And ebay started in 1995. Paypal didn't launch until 1999 and didn't really take off until early 2000 when ebay users discovered the service and started using it for auction transactions.

**pearlieq** · 08-14-2006, 05:32 PM

Re: Tell Me Your Thoughts On PayPal

Coming as a buyer, I won't bid if a seller doesn't use Paypal.

I'm just too lazy to write and mail a check and too impatient to wait for it to clear before my item is shipped.

**disneysteve** · 08-14-2006, 05:39 PM

Re: Tell Me Your Thoughts On PayPal

Before Paypal:
Auction ended. E-mailed buyer with total. Waited for check or money order to arrive. Deposited check and waited for it to clear. Took package to post office to ship it. Total time between end of auction and buyer receiving item was up to 3 weeks.

After Paypal:
Auction ends. Buyer pays with Paypal, sometimes within minutes of the auction ending. I pay for and print postage and shipping label from Paypal. Mailman picks up package next morning. Total time between end of auction and buyer receiving item is as little as 2 days.

Which would you rather do?

**Cheetahwoman7** · 08-14-2006, 05:54 PM

Re: Tell Me Your Thoughts On PayPal

So tell me this:

I just went to the PayPal site and looked at both Personal Accounts and Premier/Business Accounts. The comparison chart says that you can receive money to a personal account as well as a Premier. Can I use the Personal Account on Ebay if I only sell a few things a month? There doesn't appear to be any information on PayPal about that.

Anyone know?

Thanks,
CJ

**disneysteve** · 08-14-2006, 06:16 PM

Re: Tell Me Your Thoughts On PayPal

Originally posted by Cheetahwoman7

I just went to the PayPal site and looked at both Personal Accounts and Premier/Business Accounts. The comparison chart says that you can receive money to a personal account as well as a Premier. Can I use the Personal Account on Ebay if I only sell a few things a month? There doesn't appear to be any information on PayPal about that.

See the chart on this page:

Sign up for PayPal | Personal & Business Accounts | PayPal US

http://www.paypal.com/cgi-bin/webscr?cmd=xpt/cps/general/PayPalAccountTypes-outside

Create your PayPal account for personal or business use. Send, receive, and manage your money all in one place. Get the app or sign up online today.

You can only accept credit and debit card payments with a Premier or Business account. It doesn't matter how many items you sell. But you only pay a fee per transaction. No monthly fees or membership fees or anything like that. If you don't have any transactions, you pay nothing.

**Cheetahwoman7** · 08-14-2006, 06:56 PM

Re: Tell Me Your Thoughts On PayPal

Disneysteve, that's the same page I saw, but I still don't understand the differences between the Personal Account and the Premire/Business one when it comes to receiving money. So, if you don't take credit cards can you use the Personal Acct. on Ebay?

Sorry for seeming so thick, but they just don't give enough info on the site...or at least I can't find it!

**Great to be Debt Free** · 08-14-2006, 07:52 PM

Re: Tell Me Your Thoughts On PayPal

I'm so glad to have found this discussion! I want to start the $20 challenge and have some things that I think I can sell on E-bay, but I wonder how difficult and time consuming it is to do. And like Cheetahwoman, I just don't understand (and haven't really researched it YET) how much it will cost to be a seller. Please give me any advice you have!

Thanks!

**Broken Arrow** · 08-14-2006, 08:59 PM

Re: Tell Me Your Thoughts On PayPal

Originally posted by disneysteve

I think I understand whay you are trying to say, but Paypal did start as an independent online payment service that was later purchased by ebay. And ebay started in 1995. Paypal didn't launch until 1999 and didn't really take off until early 2000 when ebay users discovered the service and started using it for auction transactions.

Ah, thank you for the correction.

**shengmei** · 08-14-2006, 10:57 PM

Re: Tell Me Your Thoughts On PayPal

They charge a lot of fees on paypal, but paypal insures you against bed buyers. The money is either there or it is not. It is so much safer than a check (even a check that is cleared with the bank) or credit cards, which they can refuse payment to someone anytime for any reason.

**Crystallas** · 08-14-2006, 11:32 PM

Re: Tell Me Your Thoughts On PayPal

I like paypal. Its an internet debit card. As mentioned, the rate is excellent with no minimums, the potential usage is huge, and its very convinient.

I have owned and managed many sites, and whenever we needed to accept donations, paypal has allways worked out for us.

If you want to be stingy about it, only accept ballance transfers, and make sure your auctions list that as a payment requirement.

**poundwise** · 08-15-2006, 03:45 AM

Re: Tell Me Your Thoughts On PayPal

The difference in the Premier and Personal account is simple. If someone is going to pay you, for an eBay auction for instance, and their source of funding for the payment is a credit card, then you would not be able to accept payment from them if you only have a Personal account. A Personal account only allows payment from their PayPal account balance, or funded from their linked bank account. Therefore, if you sell something for $50 and the person who buys it only has $20 in their PayPal account, you will have to wait approximately 4 days for their bank transfer to fund their account before funds will clear to make the payment.

In other words, if you are going to sell on eBay, you will be much better served by a Premier account. That way, people can choose to pay you from their PayPal balance or by a credit card or eCheck.

The good news is, PayPal will allow you to have one Premier account and one Personal account, if so desired. This way, for items you sell on eBay, you can accept all forms of payment (through your Premier account) and when you and a friend want to exchange some cash, or some other purpose, you can use your Personal account.

For the record, I have had a PayPal account for nearly five years. I have only had one minor problem, and that was not the fault of PayPal but a merchant who charged my PayPal debit card incorrectly. It was corrected shortly after I realized the problem.

Yes, PayPal fees take a bite out of your payment, as do eBay fees, but its just a part of doing business.

I enjoy using my PayPal debit card and earning (currently) over 5% interest on my PayPal balance while earning an additional 1% on debit card purchases. Sweet.

I, for one, really like PayPal. Both in terms of conducting business on eBay and otherwise.

**Diolla** · 08-15-2006, 05:43 AM

Re: Tell Me Your Thoughts On PayPal

Originally posted by shengmei

They charge a lot of fees on paypal, but paypal insures you against bad buyers. The money is either there or it is not. It is so much safer than a check (even a check that is cleared with the bank) or credit cards, which they can refuse payment to someone anytime for any reason.

And sometime it is there and then its not- Friend sold $600 item on e-bay, buyer paid with paypal, money was in my friends account, friend shipped item, paypal pulled money out of her account because of 'fraudulent activity by buyer', doesn't have the item, doesn't have the money, paypal response too bad.

BTW-You have to have a premier account if you accept payments over a certain $$$ amount. Another friend sold her camper but they wouldn't let her accept the large $$ amount unless she opened a premier acct.

I really hate e-bay and paypal, don't use them, never will.

Tell Me Your Thoughts On PayPal