Quizzes & Puzzles7 mins ago
PayPal - Receiving payments for goods
15 Answers
I've just started selling items on Ebay for the very first time and am using Paypal as payment.
How do I receive funds in Paypal, does it just go in my Paypal account automatically?
How long does funds take to reach the account and do I need to transfer the money from Paypal to my bank account?
Any advice would be extremely appreciated.
TIA
How do I receive funds in Paypal, does it just go in my Paypal account automatically?
How long does funds take to reach the account and do I need to transfer the money from Paypal to my bank account?
Any advice would be extremely appreciated.
TIA
Answers
Best Answer
No best answer has yet been selected by muchlovex. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Payments will appear in your PayPal account almost instantly.
You can either leave the money there to pay for own purchases or transfer the money to you bank account - this is not automatic and you need to log in to PayPal and withdraw funds. There may be a charge, depending on how much you withdraw.
You can either leave the money there to pay for own purchases or transfer the money to you bank account - this is not automatic and you need to log in to PayPal and withdraw funds. There may be a charge, depending on how much you withdraw.
Paypal used to charge you to withdraw unless its over £50, i don't know if they still do. as someone mentioned, make sure you leave enough money to pay the e-bay fee at the end of the month. I got caught out, I had only a few quid in my pay pal account,so they tried to get payment from my registered bank account and couldn't,( not enough in there) so my bank charged me £30 for the privilage of refusing ebay/paypals request. paypal/ebay were not worried, they just sent an email telling me payment had not gone through, could i put some money into the account please. very civilised, unlike my bank.
It seems that there must be different ways to operate a Paypal account. I never put money in the Paypal account. When I buy something and there is not enough funds it automatically deducts the amount from my Debit/Visa card. When I sell a larger item the funds stay in the Paypal account though (until I draw it out lol).
PayPal still charge you to take out funds under £50, so I wait until I've sold items worth more than that before withdrawing it to my bank (unless of course I use it to buy more things myself!)
The money goes straight in (as long as the buyer has paid you by PayPal and not any other method, it gets there as soon as they pay).
You must leave enough money in there to pay your eBay fees (easily checked on your Account tab) and they will email you each month to tell you how much that month's eBay fees are - otherwise yes, they will take it out of your back-up bank account if there's not enough money in your PayPal account. You can always top it up direct from your bank, if that's the case.
The money goes straight in (as long as the buyer has paid you by PayPal and not any other method, it gets there as soon as they pay).
You must leave enough money in there to pay your eBay fees (easily checked on your Account tab) and they will email you each month to tell you how much that month's eBay fees are - otherwise yes, they will take it out of your back-up bank account if there's not enough money in your PayPal account. You can always top it up direct from your bank, if that's the case.
If I have the option of paying for things by PayPal, I do. It is so easy - they take it from my Bank Account of course, but there is no charge. If you have sold something they make a charge, which I believe is about 40p but I am not sure of this. I have seen grumbles about the way they operate, but I think they are brilliant.
Boxtops you are wrong , there is no charge to withdraw any cash as long as you use the standard method, this is in your bank on the 3rd working day after the withdrawal from paypal. Or you can pay £5 and have the cash in your account the next working day . There used to be a charge unless you with drew £50 or more but that has been scrapped for over a year now.
They used to be a Paypal Top Up card , that was great you could transfer cash from paypal to your Top Up card at a few seconds before midnight and it was on the card lunch time the next day even Sundays and bank holidays.
The Top Up Card was a debit card and you could then spend on it or withdraw the cash from an ATM. They cancelled the Top Up Card at the same time as cancelling the fee for withdrawing under £50. The top up card cost £4,99 to get in the first place but then all transfers were free no matter how much or little.
The Top Up Card was a debit card and you could then spend on it or withdraw the cash from an ATM. They cancelled the Top Up Card at the same time as cancelling the fee for withdrawing under £50. The top up card cost £4,99 to get in the first place but then all transfers were free no matter how much or little.
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.