Quesion about selling stuff using paypal

[MetalMat]

I am kind of a noob at selling stuff, and just sold my first item ever on ebay. To accept the guys cedit card payment, paypal made me upgrade my account..... did I make he wrong move and is there anyway in avoiding this (besides not using paypal).

 

[tuongo]

Do you have funds available now? Or you can't even get that far without upgrading? 'cuz I got funds from my sale, but I can't access them. What a scam. boo on paypal

http://forums.anandtech.com/me...=y&keyword1=paypal

 

[MetalMat]

It would have made me deny the funds if I did not upgrade......

 

[jpeyton]

PayPal works, but they'll make you jump through hoops like address and bank account verification to recieve and withdraw funds.

You didn't make a mistake, but make sure you withdraw your money ASAP.

My warning to all PayPal members is to NEVER leave a positive balance in your account for long periods of time. That is for your protection.

PayPal is not a dishonest company, but their policies regarding buyer/seller disputes lends itself to dishonest people. So if you withdraw your money, PayPal cannot take it away.

 

[MetalMat]

Well, since it made me upgrade my account will all funds a get me charged (even non-credit card ones), if they do then paypal is a rip off :|

 

[KarenMarie]

yes, once you upgrade to a premier account, all payments get charged, even non-credit card payments.

If I remember correctly, it is $0.35 +2.9%.

🙂

 

[MetalMat]

Originally posted by: KarenMarie
yes, once you upgrade to a premier account, all payments get charged, even non-credit card payments.

If I remember correctly, it is $0.35 +2.9%.

🙂

Well, I guess from now on I will just try not to use paypal. Thats what I get for being a noob I guess.

 

[jpeyton]

Originally posted by: MetalMat

Originally posted by: KarenMarie
yes, once you upgrade to a premier account, all payments get charged, even non-credit card payments.

If I remember correctly, it is $0.35 +2.9%.

🙂

Well, I guess from now on I will just try not to use paypal. Thats what I get for being a noob I guess.

That's a bad idea, really. Lots of people use PayPal on eBay.

What veteran sellers do is compensate for PayPal fees by increasing shipping charges. You should try it.

 

[RossMAN]

Originally posted by: jpeyton

Originally posted by: MetalMat

Originally posted by: KarenMarie
yes, once you upgrade to a premier account, all payments get charged, even non-credit card payments.

If I remember correctly, it is $0.35 +2.9%.

🙂

Well, I guess from now on I will just try not to use paypal. Thats what I get for being a noob I guess.

That's a bad idea, really. Lots of people use PayPal on eBay.

What veteran sellers do is compensate for PayPal fees by increasing shipping charges. You should try it.

Yeah you will alienate a lot of buyers if you don't accept Paypal.

Remember you can downgrade your account once but an even better option is to have TWO Paypal accounts.
1 Personal non-cc and 1 Premier/Business account to accept cc payments. Yes Paypal does allow this.

 

[olds]

Originally posted by: jpeyton
My warning to all PayPal members is to NEVER leave a positive balance in your account for long periods of time. That is for your protection.

PayPal is not a dishonest company, but their policies regarding buyer/seller disputes lends itself to dishonest people. So if you withdraw your money, PayPal cannot take it away.

I agree. As soon as the money hits my account, I transfer it to my bank account.

 

[MetalMat]

Originally posted by: RossMAN

Originally posted by: jpeyton

Originally posted by: MetalMat

Originally posted by: KarenMarie
yes, once you upgrade to a premier account, all payments get charged, even non-credit card payments.

If I remember correctly, it is $0.35 +2.9%.

🙂

Well, I guess from now on I will just try not to use paypal. Thats what I get for being a noob I guess.

That's a bad idea, really. Lots of people use PayPal on eBay.

What veteran sellers do is compensate for PayPal fees by increasing shipping charges. You should try it.

Yeah you will alienate a lot of buyers if you don't accept Paypal.

Remember you can downgrade your account once but an even better option is to have TWO Paypal accounts.
1 Personal non-cc and 1 Premier/Business account to accept cc payments. Yes Paypal does allow this.

Wow, can you use the same bank account?

 

[Anonemous]

don't you need to link your bank account to transfer paypal funds to the bank account? if you did that could paypal access your bank account and withdraw from it without your permission, (ie if a sale goes bad and the customer forces a refund)?

 

[dude8604]

Originally posted by: MetalMat

Originally posted by: RossMAN

Originally posted by: jpeyton

Originally posted by: MetalMat

Originally posted by: KarenMarie
yes, once you upgrade to a premier account, all payments get charged, even non-credit card payments.

If I remember correctly, it is $0.35 +2.9%.

🙂

Well, I guess from now on I will just try not to use paypal. Thats what I get for being a noob I guess.

That's a bad idea, really. Lots of people use PayPal on eBay.

What veteran sellers do is compensate for PayPal fees by increasing shipping charges. You should try it.

Yeah you will alienate a lot of buyers if you don't accept Paypal.

Remember you can downgrade your account once but an even better option is to have TWO Paypal accounts.
1 Personal non-cc and 1 Premier/Business account to accept cc payments. Yes Paypal does allow this.

Wow, can you use the same bank account?

No, you can't. I just tried. That means it won't work for me because I only have 1 bank account. Oh well.

 

[vegetation]

Originally posted by: Anonemous
don't you need to link your bank account to transfer paypal funds to the bank account? if you did that could paypal access your bank account and withdraw from it without your permission, (ie if a sale goes bad and the customer forces a refund)?

Paypal doesn't do that. Instead, they put your account on paypal into negative balance. At that point, if you don't bring your balance up, they can and will send you to a collection agency (you gave them permission to do that when you signed up). From there, expect a trashed credit rating and hope you don't need a loan for the next five years.

 

[jpeyton]

Originally posted by: Anonemous
don't you need to link your bank account to transfer paypal funds to the bank account? if you did that could paypal access your bank account and withdraw from it without your permission, (ie if a sale goes bad and the customer forces a refund)?

No they cannot. When they mediate eBay sales, they act as a bank, and not as a lender. Therefore, unlike credit card companies that CAN refund buyers for fraudulent/disputed charges, PayPal can only control the money while it is in their possession.

 

[jpeyton]

Originally posted by: vegetation

Originally posted by: Anonemous
don't you need to link your bank account to transfer paypal funds to the bank account? if you did that could paypal access your bank account and withdraw from it without your permission, (ie if a sale goes bad and the customer forces a refund)?

Paypal doesn't do that. Instead, they put your account on paypal into negative balance. At that point, if you don't bring your balance up, they can and will send you to a collection agency (you gave them permission to do that when you signed up). From there, expect a trashed credit rating and hope you don't need a loan for the next five years.

Doubtful. From all the negative user experiences I've read, few have resulted in them following through with a collections agency. PayPal will put your account into the negative, but they will not refund the buyer in that case. AFAIK, they have no legal right to the money because they are not a lender. The buyer does have that legal right and they could send collections after you through their own CC company/bank, but again it's doubtful.

 

[MetalMat]

So how could I set it up so that I have two paypal accounts (one for cc, one for non-cc) with one bank account?

 

[tuongo]

So the best way to get your money is to transfer immediately to your account?
Because any other way has some type of downside to it.

Check cut - $5
Trying to use funds - $0.35 +2.9% (per your email) AND you have to sign up with a credit card
Not "withdrawing" - potential loss of funds



Wouldn't this policy work against paypal, then? Instead of keeping money "in the cycle" it would motivate you to make a withdrawal and then just charge to the credit card, or bank account on file

 

[RossMAN]

Originally posted by: MetalMat
So how could I set it up so that I have two paypal accounts (one for cc, one for non-cc) with one bank account?

Easy, ask your bank to open another checking account. Most will do it in about 5 minutes and it's free.

 

[MetalMat]

Originally posted by: RossMAN

Originally posted by: MetalMat
So how could I set it up so that I have two paypal accounts (one for cc, one for non-cc) with one bank account?

Easy, ask your bank to open another checking account. Most will do it in about 5 minutes and it's free.

Thats what I figured, thanks :thumbsup:

 

[vegetation]

Originally posted by: jpeyton

Originally posted by: vegetation

Originally posted by: Anonemous
don't you need to link your bank account to transfer paypal funds to the bank account? if you did that could paypal access your bank account and withdraw from it without your permission, (ie if a sale goes bad and the customer forces a refund)?

Paypal doesn't do that. Instead, they put your account on paypal into negative balance. At that point, if you don't bring your balance up, they can and will send you to a collection agency (you gave them permission to do that when you signed up). From there, expect a trashed credit rating and hope you don't need a loan for the next five years.

Doubtful. From all the negative user experiences I've read, few have resulted in them following through with a collections agency. PayPal will put your account into the negative, but they will not refund the buyer in that case. AFAIK, they have no legal right to the money because they are not a lender. The buyer does have that legal right and they could send collections after you through their own CC company/bank, but again it's doubtful.

Guess you've been a responsible consumer and never had to deal with a company sending you to collections. Let me tell you they don't need to do it right away. You're in for an ugly surprise if you seriously believe they will let you slide, especially for a large amount of money. But even for small amounts, you don't want to take that chance. Note that it doesn't matter if your credit rating shows a $1 or $1000 delinquent account; in both cases your credit rating is screwed.

 

[skim milk]

wait..

so we shouldn't leave money in our paypal account and we should withdraw immediately? What does paypal do?

I can pay someone with the funds I have without going Premier right?

 

[Kipper]

PayPal close to five years running...NO problems.

Only accept payments from confirmed addresses, send everything UPS/Fedex or USPS with Delivery Confirmation and your butt is covered.