Paypal Question..
 

k guys i have no freaking clue how paypal from a sellers perspective works. I tried looking on their site but couldn't find anything. If I'm selling an item and the guy is paypaling me the money, how do I extract the money? Also is it still 2.9% cut that paypal takes? Can someone explain to me how I would do things please? And i'm not verified because i need the routing number for my bank which I don't have because I don't have any checks. Do I need to get verified in order to receive money?

Re: Paypal Question..
 

paypal.com has your answers ::)

Re: Paypal Question..
 

ok, where to start. to take money out of your paypal you need to have it linked to a bank account. call up your bank and ask them the branch number. when you finally do decide to transfer money into your account there is a fee if you deposit anything less than $150 into your account from paypal.

reciveing money from others: if you have a "personal" account there is no fee at all for money you are paid into your paypal account. one down side is you cannot accept credit card payments from anyone and another down side is you can only accept $1000US in payments per month. the minute you go over this limit or if you accept a credit card payment via paypal your account becomes a "business" account and you are charged a fee each time someone makes a payment to you.

tip: any time someone makes a payment make sure you wait for it to "clear" before you ship the item they are paying for. sometimes when people write an "e-check" it takes a couple days to clear into your account. just make sure the transactions says "completed" before you send something. they have the option to cancel the payment up until it is completed.

hope this helps.

Re: Paypal Question..
 

ive never been tagged with any fee for taking money from paypal and putting it into my bank acct, no matter what the amount was, and i do have a business preferred acct and accept credit cards.


so im not sure if you have a different acct Weir, or not, but i dont have to pay any fee's unless its the 2.9% fee they charge when i get money from a buyer.

just an fyi

Re: Paypal Question..
 

Yea i was gonna say the same, i only have a fee charged when i rcieve money, transfer is free to bank acount, there is fews for other transfers...

Re: Paypal Question..
 

if you have any higher than a personal account they charge you 6% for everything.

Re: Paypal Question..
 

I have a business account and its not 6 percent.

Re: Paypal Question..
 

maybe its just premier acounts then.... I know my friends account got ahrge dlike 6.5% when I asked someone to send money by credit card to him since he didnt have cash to send me...

Re: Paypal Question..
 

I have a premier and its still not that high

Re: Paypal Question..
 

well, it did charge him that much. I was like wtf, cuz I only asked the guy to throw in 3%. This was like 2 or 3 months ago I beleive...