Getting paid on PayPal. How does that work?

Wyatt Burp

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We buy stuff with Paypal all the time but how to you get paid when you sell something via Paypal? My wife set it up but I asked her once and she didn't know either. Is there an account of some sort we have, and if so, how do you know payment has been transfered to them and then get your hands on the money once someone pays you? Did we most likely set up our bank account or something and it goes straight to our checking/bank, account? Thanks in advance, everyone.
 
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Since you have a PayPal account you should be good to go. The buyer, who would need to have an account with PayPal too, would need your e-mail. They can search for you on PayPal by the e-mail you used to register with PayPal. They select your e-mail account and entered the amount they want to send to you and viola you have the money in your PayPal account. You can set up as many accounts in your PayPal account as you want. For example, if you have a checking account, you can set that up in PayPal and have the "money" in your PayPal account transferred to your checking account or leave the "money" in PayPal and spend it with other people or vendors that accept PayPal.

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I set up a paypal account once to buy something, but refused to link my bank account. I'm paranoid about doing such things. I linked it to my credit card instead. I've never sold anything, so I don't know how I would get my money out of it.

I would probably set up another bank account with no or little money in it and transfer as needed.
 
I've used it for years with no problems. Mine's linked to my own checking account, not my wife's and mine. and my credit card. Never had a problem and Paypal will back you up if you get screwed on a transaction with another member.
 
Also the seller pays a fee & not the buyer. If you sell describe exactly what condition it is in or worse. If the buyer changes his mind or is picky and complains you eat the shipping both ways.
 
As stated, PayPal is much like a bank account. You can deposit money into it, funds can be transferred to it from a credit card, and payments can be made from it for your purchases (not just from eBay - many others use PayPal). You can transfer balances (full or partial) from your PayPal account to your regular bank account at any time. I do a lot of trading and maintain a balance of about $1000 in my PayPal account. Anything above that goes to by regular bank account. One real benefit of PayPal is its protection against fraudulent deals. If something goes sour in a transaction, notify eBay and PayPal.

"If the buyer changes his mind or is picky and complains you eat the shipping both ways. "
The dissatisfied purchaser eats shipping both ways.
 
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I set up a paypal account once to buy something, but refused to link my bank account. I'm paranoid about doing such things. ....
The only information you give them is the routing number for your bank account. That number exist on every check you write. So if you're paranoid about such things you should stop writing checks (if you haven't already).
 
I set up a paypal account once to buy something, but refused to link my bank account. I'm paranoid about doing such things. I linked it to my credit card instead. I've never sold anything, so I don't know how I would get my money out of it.

I would probably set up another bank account with no or little money in it and transfer as needed.

That is understandable. I have been buying and selling with PayPal for over ten years without a single problem. I do, however, have it linked to a checking account separate from my main accounts. When I make purchases, I transfer to that account and when I sell, I tranfer from that account to my main.

Like has been stated, with a linked account, it just a matter of clicking a link to move your PayPal funds to a linked account.
 
I set up a special checking account that is only used for pay-pal.
If I'm buying, I transfer money into it to cover the costs. If I'm selling, I transfer the money out as soon as it arrives.

Same here...I didn't want PayPal to have access to my life's savings or to the account that my paycheck goes into.
 
I set up a paypal account once to buy something, but refused to link my bank account. I would probably set up another bank account with no or little money in it and transfer as needed.

That is exactly what I did. I set up a separate bank account in which I keep no more than $10. When I get payment thru PAYPAL, I transfer the money from PAYPAL into that special account and as soon as it arrives, I transfer it out into my regular bank account. Be doing it for years with no problems.
 
I would never link it to my checking or savings account. I do have a paypal debit card. It got hacked and they bagged up a chunk of money quickly. Paypal did make it good. They want you to think they are a bank... they are not. set up a separate checking like some have said. I usually sell quite a bit every year... and do buy a little.
 
I use regular paypal to pay for lots of things . I use( Paypal friends and family) to pay for firearms (Don,t mention guns )in any of the communications and you are good to go. Payment in 1-3 hours and nobody gets charged a fee. Safer and quicker than the USPS . You also get to see when the seller picks up the payment.
 
I use PayPal to buy lots of stuff. Occasionally I sell something. I just let the money sit in my PayPal account. I figure that I'll buy something eventually so, I just use it then.
 
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