PAYPAL.....what is it all about?

[topcat903]

Can anyone shed some light on this? I wanna get a paypal account. I do not have a credit card yet, nor do I want to give out my bank account info. Can I still send $$$ via paypal? What does the $250.00/month limit mean? I have more questions...but the more I know, the better.

 

[Jessi]

Paypal sucks, but since you're only planning to be on the buyer's end of Paypal, you should be safe with just an "Unverified account." That means you don't hook up a bank account to it. Do not deposit money into a Paypal account before it is needed because some people have had their's frozen before with several thousand dollars because Paypal needed the money for investments. The account is NOT FDIC insured, so they are not responsible for any loss of your money.
With that said, becareful in sending money to people with "Unverified" accounts. Paypal will absolutely provide NO help in trying to get your money back if you send it to some loser who decides to rip you off. Only send to Verified accounts, and even then, be cautious, it could have fake information. Always check to make sure the dealer is willing to accept Money order as an alternative, that way you know it's more legit.
I think you should be an informed buyer with this information. Good luck.

 

[CirekL]

Yes, you do need a credit card. I wouldn't trust depositing money in their either, although that's the only other solution to a credit card.