not CC - Paypal question

[Derek]

i'm selling my Challenger and the buyer was going to pay me via Paypal.

how do i then get my money into my hands from Paypal, and how much will Paypal charge me for this transaction?


thanx --- Derek.

 

[Guest]

first you have to have an account ( which is free ) with paypal . You need a valid bank account and a credit card .

Not sure on the cost , but its pretty minimal .

Once paypal recieves the funds . you transfer it to your bank account ( usually takes a day or so.

 

[Larry B]

Get a deposit with paypal but do not allow full payment through them.

The fees are out of this world on paypal

If after you give the buyer his item and he contacts paypal and tells them you lied or ripped him off they will take all the money back and refund him.


Cant tell you what to do but your out of your mind to take a large payment with paypal.

 

[Grant D]

Derek,
Paypal doesn't charge me when people just send me $$. They take 3% when I run a credit card though.

Let me know if you get stiffed and I won't let him pick it up.

 

[Dolly Llama]

as mentioned, you need to set up an account.

there's three different levels/types of accounts if i recall right.
I "think" i chose the middle option.
for some reason I deemed it best for me.

anyway, there's no charge if paying thru PP, but anything payed to me, there is a 3% charge.
example, if I see something for $100 and payed thru PP I get $97 in my PP account.

The money stays in your PP account unless you transfer it to the bank account you list when you set up a PP account.

It generally takes a couple days for transfers from PP to show up in your bank account

check out PP and read thru the info on setting up an account.
It's pretty self explanatory.
if I could figer it out, I'm sure you can


..L.T.A.

 

[John Olson]

we run 15-20k through paypal every month no problems call me tomorrow and i' be happy to help.

 

[TimP]

They do charge to recieve money from them. It is pretty darn high....as is with most cc transactions. And they will want a SS# to recieve money over a certain ammount. It's a royal pain in the rear. They may do it for less if it's not e-bay related though. Best way to know for sure is to go to paypal and read their info.

 

[Dolly Llama]

They do charge to recieve money from them. It is pretty darn high....

3% Tim.
no other charges on the account i have


..L.T.A.

 

[Derek]

thanx fellas!

i do have a PP acct. 3% sounds right.

haha Grant thanks for referrin him to me G :mrgreen:

PP is outta the question, i'll only take a cashiers check.

unless there are drawbacks of using a cashiers check?

 

[TimP]

Only draw back of a cashiers check is if it's a fake one. :shock:


any way you go there is some risk or negative side to it. Cash can be fake too.....but they make a pen that you can use to tell if it's real or not.



Oh and 3% sounds right on paypal.....but I remember a 25-30 cent transaction fee too. You can cut it down to 1.5% if you use their credit card to withdraw funds. Also the % goes down as you do more volume in dollars.

 

[Larry B]

Its good to know so many have sold with paypal without problems and selling to CC may not have much risk.

You should still read their rules about how it works.

Without 100% proof the buyer has gotten the item purchased paypal can take money from your bank account and refund the seller at any time? If you ship items get tracking numbers if you allow the seller to come pick-up items purchased through paypal you have no proof they have them.

With new accounts or accounts with few transactions paypal has the right to hold onto your money untill the buyer tells paypal they are happy with the items purchased.