Question about PayPal PLEASE NO TAR AND FEATHERS

[Patrick L]

I posted this on another gun oriented forum and I think they want to lynch me. But I seriously want someone to explain how this system works. I admit I'm a dinosaur. A real 20th century man.

I see lots of places (ebay, some of our classified sales transactions, lots of online merchants) use PayPal. I never have, mostly because I don't know what it is. Is there any advantage to using that as opposed to just using a credit card? I understand they are basically an anti gun organization, but they also happen to be a dominant force in online commerce and purchasing.

So my question is, how does it/they work, and am I missing out on anything by not using it?

 

[The Big D]

Will not use it...

...and PAY their fee.

If I want something I will pay the seller directly...not use a middle man which adds additional cost. Do not understand how it exists...but many use it so what do I know? I won’t use Venmo or similar ‘services,’ either.

Be safe...be well.

I posted this on another gun oriented forum and I think they want to lynch me. But I seriously want someone to explain how this system works. I admit I'm a dinosaur. A real 20th century man.

I see lots of places (ebay, some of our classified sales transactions, lots of online merchants) use PayPal. I never have, mostly because I don't know what it is. Is there any advantage to using that as opposed to just using a credit card? I understand they are basically an anti gun organization, but they also happen to be a dominant force in online commerce and purchasing.

So my question is, how does it/they work, and am I missing out on anything by not using it?

 

[Onomea]

The advantage of PayPal, from my perspective, is that you can tie it to your credit card, and send money to people who use PayPal simply by sending a message to their email address.

So if you want to buy something, your money gets there quickly, and the buyer knows you’ve paid. So, much faster than a check.

Or, many businesses who sell online take PayPal. You don’t need to spread your credit card info around. PayPal charges your credit card, but the merchant doesn’t see the card. PayPal does charge you, the buyer, something like 2 or 3%.

Recently I sold a knife on the forum. I asked for a check. The buyer wanted to use PayPal to send me the money. First time I’d done that, but it worked out and was easy.

PayPal has a good reputation for security, too.

Recently I’ve been experimenting with a newer service called Venmo. Many young people use it a lot to send money back and forth to one another, say, splitting a dinner check. It seems pretty simple.

 

[Rustyt1953]

I use PayPal to pay my forum membership.

 

[Onomea]

I use PayPal to pay my forum membership.

Me, too, Rusty.

 

[JH1951]

Onomea pretty much said what I would.
The convenience and speed of transactions is great.
Sure, there may be fees associated, but I find they are offset by the convenience factor.
When PayPal first came upon the scene I was quite active on eBay. I fought it tooth and nail with a passion, clinging on to USPS Money Orders, cash, or checks. After years I finally caved and started using it.
I have been quite, quite pleased with the results.

Edit: I use it to make a contribution here too!

 

[schutzen-jager]

I use PayPal to pay my forum membership.

FYI - for several years + still now PayPal has banned Rimfire Central forum members from renewing thru them because it is a pro gun forum - many Pay Pal members have had their accounts locked for months for using Pay Pal for firearm purchases - at one time you could not have an Ebay seller account w/o having a Pay Pal account -

 

[BC38]

It is pretty easy.

You establish an account with your email address as your user name and a password of your choosing.

To start and account you have to register your bank account or a credit card with them.

It takes a few days for them to verify your banking info.

Once the account is established you can also register additional credit cards.

You can then go to the Paypal web site and send money to anyone or any business who has their own Paypal account set up to accept payments.

When sending money you select whether it is for good/services, or if it is being sent to friends/family. If it is for goods and services the seller pays the fees, if it is for friends or family then THEY pay the fee.

For most transactions the fee is 3% up to a certain amount (I forget how much) and above that amount the % of the fee is reduced.

When you send money you can select whether it comes out of your bank account or whether it is charged to your credit card.

For goods & services transactions your shipping address that you used when you registered is automatically forwarded to the seller along with your payment.

Any time you send money you are allowed to add a message giving instructions etc. to the recipient. They receive an email notifying them that they have received money in their account and also the message you entered when arranging the transfer.

Due to their policy against using their service for firearms related purchases you want to make sure you do NOT say anything about the purchase being firearms related.

When someone sends you money, you get an email notifying you that you have received money, along with the message that the sender entered when arranging the transfer.

You have the option of having the money transferred from your Paypal account to your bank account, or using the balance in your Paypal account to make purchases from businesses or individuals who can accept Paypal payments.

You will also be given the option of setting up a Paypal Credit Account that can be used to make credit payments to anyone who can accept Paypal payments.

It sucks that they are anti-firearms. They weren't back in the day when I started my account. It is just a policy they chose to implement. I still use them, though not as much as I used to.

Hopefully that will answer all your questions. If not, fire away and I'll do my best to answer them.

 

[Rustyt1953]

Lee offers PayPal as the electronic payment method. If he had any reservations about it he would have voiced them.

 

[schutzen-jager]

Onomea pretty much said what I would.
The convenience and speed of transactions is great.
Sure, there may be fees associated, but I find they are offset by the convenience factor.
When PayPal first came upon the scene I was quite active on eBay. I fought it tooth and nail with a passion, clinging on to USPS Money Orders, cash, or checks. After years I finally caved and started using it.
I have been quite, quite pleased with the results.

Edit: I use it to make a contribution here too!

if you sell certain legal gun parts + accessories on Ebay that Pay Pal does not like they lock your account + they also can lock your bank account that is linked to them - do an internet search + you will find it filled with Pay Pal horror stories - an buyer complaints to Pay Pal regardless of their validity wil freeze your Pay Pal + linked bank account funds for extended periods -

 

[pennzy]

Maybe the rules changed but I never linked a bank account to my PP account, only a credit card. Also, the seller pays a fee, not the buyer. Transfer of money between friends and family is different fee wise.

 

[Onomea]

BC38, you don’t need to provide your bank details to open an account if you only want to buy stuff. I used it only for buying, providing my credit card info only, for some years. Only recently, when someone wanted to send me money via PayPal, did I need to provide my bank account details.

Old fogey that I am, after I received the money, I disconnected my bank account from PayPal, figuring I could reconnect in the rare case that someone wanted to send me money again via PayPal.

Penzy, I am pretty sure if you use PayPal to buy that you pay a small fee...

 

[schutzen-jager]

Maybe the rules changed but I never linked a bank account to my PP account, only a credit card. Also, the seller pays a fee, not the buyer. Transfer of money between friends and family is different fee wise.

they have the same access to your linked credit card as they do a linked bank account - any complaints against you + they will take funds from your Pay Pal account or credit card account at their discretion - take some time to read your users agreement + updates -

 

[pennzy]

BC38, you don’t need to provide your bank details to open an account if you only want to buy stuff. I used it only for buying, providing my credit card info only, for some years. Only recently, when someone wanted to send me money via PayPal, did I need to provide my bank account details.

Old fogey that I am, after I received the money, I disconnected my bank account from PayPal, figuring I could reconnect in the rare case that someone wanted to send me money again via PayPal.

Penzy, I am pretty sure if you use PayPal to buy that you pay a small fee...

I have had money deposited into my account without linking my bank account . It goes into my PP balance.This was taken off PP website:
When completing a transaction through PayPal, the seller must pay a PayPal fee. The buyer isn't forced to pay any fee. The fee the seller pays is calculated for each transaction and is represented as a percentage of the total transaction plus 30 cents

 

[Onomea]

I have had money deposited into my account without linking my bank account . It goes into my PP balance.

That’s a good way to do it, maintain a PayPal balance for transactions, if one is a frequent user (buyer/seller). Keeps the personal bank account and credit cards entirely out of it.

 

[pennzy]

they have the same access to your linked credit card as they do a linked bank account - any complaints against you + they will take funds from your Pay Pal account or credit card account at their discretion - take some time to read your users agreement + updates -

I just feel better with them not being linked to my bank account in case they are hacked. What I like about using a CC is it gives you one more level of protection in case of a dispute with a seller.

 

[CapnB]

I have used eBay as a buyer for many years and PayPal ever since it became eBay’s preferred payment method. As with any new technology, I was skeptical at first. Now I specifically look for vendors who use PayPal. It is simple and seamless; virtually a one-button transaction.

There are absolutely no fees for buyers (transfers to persons, maybe, I’ve never used that feature). I have done hundreds of PayPal transactions, including monthly recurring charges for utilities and other services. I have never had an issue. In fact, one of the features I like about the service is their dispute resolution. More than once I have had purchases reimbursed by PayPal when a vendor failed at their end of a deal. You won’t get that with a postal money order.

Good shootin’,
Doug

 

[BC38]

Maybe the rules changed but I never linked a bank account to my PP account, only a credit card. Also, the seller pays a fee, not the buyer. Transfer of money between friends and family is different fee wise.

BC38, you don’t need to provide your bank details to open an account if you only want to buy stuff. I used it only for buying, providing my credit card info only, for some years. Only recently, when someone wanted to send me money via PayPal, did I need to provide my bank account details.

Old fogey that I am, after I received the money, I disconnected my bank account from PayPal, figuring I could reconnect in the rare case that someone wanted to send me money again via PayPal.

Penzy, I am pretty sure if you use PayPal to buy that you pay a small fee...

The startup rules must have changed then. Back in the day when I joined they would only start an account for you if you linked your bank account. They didn't allow you to start an account using just a credit card back when I set up my account.
But like I said I set up my account a LONG time ago.
I edited my original post to reflect the new info.

 

[yaktamer]

My boys' scout troop doesn't take credit cards, because of the fees charged to "sellers." So I have two choices for dues, camping fees, etc.: Write a check and hassle with getting it to the troop treasurer, or use PayPal. I wasn't too keen on the latter at first, but it's awfully convenient.

 

[pennzy]

The startup rules must have changed then. Back in the day when I joined they would only start an account for you if you linked your bank account. They didn't allow you to start an account using just a credit card back when I set up my account.
But like I said I set up my account a LONG time ago.
I edited my original post to reflect the new info.

They are always sending emails with changes to their user agreements.