paypal

[ahoiberg]

to receive money from another person via paypal, do i need any kind of special paypal account or can i receive payment from my basic account?

 

[gokartergo]

All you need is the basic account that as your checking or credit card on it.. That way the money can get put into there.. It will just go to your Paypal account.. You need to transfer it from there to your checking or credit card.. Dan

 

[LanceD]

I've got a Pay Pal debit card. Use it anywhere credit cards are accepted.

 

[GBusardo]

Be careful of the bank fees and lag time. My bank is continually figuring out ways to add fees and for some reason, it takes days to transfer money from my bank to and from my pay pal account. To me, that is absolutely insane.

 

[Monty]

Originally posted by GBusardo
<br />Be careful of the bank fees and lag time. My bank is continually figuring out ways to add fees and for some reason, it takes days to transfer money from my bank to and from my pay pal account. To me, that is absolutely insane.

I haven't quite figured this out either. To transfer money from PP to my bank account or vise versa, it takes about 3 days. But when I use my PP debit card and don't have enough funds in it to cover the purchase, it comes immediately out of my bank account.

 

[Rifleman1776]

Gary, Mannie, I agree. During those days your money is in limbo somewhere. I don't know where but I have no doubt someone is earning interest on it and you aren't, nor do you have use of your own money.

 

[PostalBob]

Becareful got taken on my account a few months ago, Now I change my password every month. Pay Pal did a great job but scared the heck out of me, IMHO
But I do love the service.
Postalbob

 

[Glass Scratcher]

Originally posted by PostalBob
<br />Becareful got taken on my account a few months ago, Now I change my password every month. Pay Pal did a great job but scared the heck out of me, IMHO
But I do love the service.
Postalbob

That is one of the reasons I don't want to link my accounts to paypal. however, I have to start selling on Ebay soon, so I may get an account at another bank to use as my verified account.

 

[Tuba707]

I got a separate back account and debit card to use in conjunction with my Paypal account. I don't keep much money in it - maybe a few hundred max, reducing the risk of really getting screwed over if someone gets into my Paypal. I just transfer to and from Paypal from that acct, and if I need more money in either, I will just do an electronic transfer from my main bank acct to my other acct. I guess I just use it like a temp. storage area. And not that a few hundred is pocket change, but I wouldn't lose everything I own =)

 

[TBone]

I agree with Frank. The banks realize that if they can delay 2-3 days in crediting your money, that's 2-3 days interest they earn and you don't. Even if your interest is small, it = more profit for them. Same thing with fees, easy profit. My banker and I had a conversation about debit cards when they first came out and were $5.95/month to have one. I said "you want me to pay $6/month to make the bank's job easier and cheaper"? Banks are great profit centers.