Paypal

[SpikieMikie]

Hi.

I didnt realise Ebay had changed their rules to FORCE sellers to accept Paypal payments... I only found out when someone won something and tried to send me a Paypal payment. I didnt even know I had a Paypal account.

If I accept this payment, where does this money go - to my bank account or on my credit card ? As I've not logged any bank details with Paypal, I presume the only details Paypal have are my bank account details that Ebay have to claim their fees.

Are there any costs / fees to having a Paypal account and accepting payments ?

I tried to watch a demo of how Paypal works on their website but it wasnt so much a demo as an advert and it didn't tell me what I need to know..

Many thanks
Mikie

[Ethel]

The money goes to your paypal account, where you can leave it or transfer it to your bank account.


If you don't have a PayPal account they will not have your details - you will input them when you register.

You don't always pay fees, but usually you do.

https://www.paypal.com/uk/cgi-bin/webscr?cmd=_display-receiving-fees-outside

[Ethel]

http://www.paypal.com/uk/cgi-bin/webscr?cmd=_d isplay-receiving-fees-outside

[SpikieMikie]

Thanks for that... so basically, if I sell to someone who wants to pay by Paypal, I have to add 3.4% plus 20p.

A t least I can transfer the money to my bank account... I thought that perhaps money sent through Paypal was like tokens or credit to the value of the transaction that you couldn't realise in hard cash...

[Ethel]

It takes days to transfer to your bank, sometimes. I have never received a satisfactory explanation for this.

And if the amount is less than �50 they charge you for that too.

You are not allowed to charge extra for PayPal fees, you have to factor it into your selling price.

Be very careful. Make sure you post the item by trackable means - you have to be able to prove the recipient RECEIVED the item,not simply that you posted it. ' Signed for' is good enough.

If the buyer tells PayPal they never received it, and you can't provide the tracking number, the buyer will automatically get a refund.
Also make sure you send it to the correct address, otherwise you lose your PayPal sellers' protection. If the buyer asks you to send it somewhere else, refuse.

[Kos]

And you know why they force you down this route?

'Cos Ebay own Paypal- so it's even more money they can make on commission !!!