OT Paypal question

[ride525]

Paypal lets you put money in your account via VISA? But most businesses (Paypal in this case?) get charged a percent or two if paying by VISA.

How could this work for Paypal, withouth Paypal losing money on VISA payments to your account?

 

[Time2Kill]

Paypal makes plenty of money.
Whenever you have money sitting in your paypal account, they invest it and make plenty.

 

[troutmask]

That's right,

While your money sits between the time you post it and someone claims it, Paypal is making 9%+ on it....

that's how they exist and what they exist for...

best,

John

 

[Kappo]

And to add to troutmask's comment:

even if the market is BAD and they make 5% intrest. How would you like to make 5% intrest on an average of 500k/day (that would be like 25k/mo if thier average was 500k)! hehe the way they do it is great for everyone (especially them!).

If they pay 3% fee for your $200 sitting in there for 5 days then the math says that they made $4 still if thier rate is 5%...wow...I am in the wrong business!

 

[ObiDon]

If anyone knows where we can get 5% weekly interest on our money then they should let us in on it...5% annual interest on $200 for 5 days would probably come in somewhere around 13-14 CENTS

It still works for them though just because of the sheer volume of money moving through their system. Remember that wating period for withdrawals from your account? Not to mention those non-free corporate accounts

 

[BradS]

You don't actually put money into your account from your credit card. You may have zero dollars funded and still make purchases. After your purchase, PayPal then charges your credit card just as any business would charge your card. Anyone reading this please correct me if I'm wrong.

Best Regards

 

[ride525]

Bulldog,

I think you are right....I paypaled someone $160 today and used my credit card.....and apparently $160 got charged just like any business.

But usually when you make a credit card charge, a percent or so gets taken out from the business PayPal, and goes to the credit card company......

 

[SJ]

What the original poster was saying, you can use your visa to put money in your Paypal account.