paypal newb with question on making payments (withdrawal from checking, or use credit/debit?)

[DT4K]

I just bought my first item on ebay.
I've never used paypal before either.
When I go to make the payment at paypal, it defaults to using my checking account info but gives me a link to "other payment options" that allows me to choose my visa (debit card) instead.

Is there a good reason to use one over the other?

 

[minendo]

Using a CC card will result in fees for the seller.

 

[DT4K]

So choosing to have my payment come from my checking account would be the more courteous way to go?

Are there any disadvantages or higher risks of getting ripped off by choosing checking account?

EDIT: And if I can have the money withdrawn from my checking account at the time I make a payment, what is the point of having the option to add funds to my paypal account and wait 3-4 days for the funds to be available?

 

[minendo]

Originally posted by: Shanti
So choosing to have my payment come from my checking account would be the more courteous way to go?

Are there any disadvantages or higher risks of getting ripped off by choosing checking account?

Yes, no.

Personally, I set up a different checking account for paypal. This way it is in no way linked to my true cash flow.

 

[FelixDeCat]

Originally posted by: minendo
Using a CC card will result in fees for the seller.

Unless they are a premier/ business member. They pay the same fee regardless of cash or credit. If its a big ticket item ($100+) use a credit card for protection.

 

[Ranger X]

Originally posted by: minendo
Using a CC card will result in fees for the seller.

That's partly true. If the seller accepts credit cards, pay with a credit card because he'll be charged a percentage either way he receives his payment if he/she upgraded his/her account to premium access (I forget the exact name for it). If the seller states that he only accepts instant payments (or simply states that he won't accept credit card payments), then pay by credit card. In case something goes wrong, PayPal will back you up if you pay by instant payment but if you pay by credit card, your credit card will back you up instead.

Go with the credit card if you can help it.

 

[FelixDeCat]

Originally posted by: Ranger X

Originally posted by: minendo
Using a CC card will result in fees for the seller.

That's partly true. If the seller accepts credit cards, pay with a credit card because he'll be charged a percentage either way he receives his payment if he/she upgraded his/her account to premium access (I forget the exact name for it). If the seller states that he only accepts instant payments (or simply states that he won't accept credit card payments), then pay by credit card. In case something goes wrong, PayPal will back you up if you pay by instant payment but if you pay by credit card, your credit card will back you up instead.

Go with the credit card if you can help it.

Is there an echo in here?:lips:

 

[DT4K]

OK, correct me if I'm wrong.

Looking at the fee schedule page on paypal, it looks like Premier/Business accounts are charged a fee for accepting payments regardless of what kind of payment it is.
And it looks like personal accounts CANNOT accept CC payments at all.

So it sounds to me like if I even have the option of paying with CC, the seller must have a Premier account, so the fee would be the same regardless of whether I choose to use CC or checking.

Is this right?

 

[minendo]

Originally posted by: Shanti
OK, correct me if I'm wrong.

Looking at the fee schedule page on paypal, it looks like Premier/Business accounts are charged a fee for accepting payments regardless of what kind of payment it is.
And it looks like personal accounts CANNOT accept CC payments at all.

So it sounds to me like if I even have the option of paying with CC, the seller must have a Premier account, so the fee would be the same regardless of whether I choose to use CC or checking.

Is this right?

Actually the payment will go through but need to be accepted by the seller if they don't have a premier/business account. They will be given the option to upgrade.

 

[FelixDeCat]

Originally posted by: Shanti
OK, correct me if I'm wrong.

Looking at the fee schedule page on paypal, it looks like Premier/Business accounts are charged a fee for accepting payments regardless of what kind of payment it is.
And it looks like personal accounts CANNOT accept CC payments at all.

So it sounds to me like if I even have the option of paying with CC, the seller must have a Premier account, so the fee would be the same regardless of whether I choose to use CC or checking.

Is this right?

It depends on what you want to do. If you want to pay by CC do it. Otherwise use checking. The most they can do is reject the CC payment and you resend w/checking. But again, its up you.