Jump to content

Recommended Posts

OK so here's the situation.

I want to receive some money from someone overseas and they don't want to pay by bank (can't blame them!)

They asked if they could pay me by Paypal.

Can someone explain how that works?

If they pay via Paypal using their credit card, where does that money go? My credit card, and then into my bank account?

And am I charged at all for that?

If anyone uses this at all if you could explain very simply for a dimwit like myself, would be fab!

 

Thank you.

Link to post
Share on other sites

It will go to your paypal account if you have one and then you can transfer those funds to your bank account.

That is how I use mine to receive money. I have my bank account registered at paypal so it easy for me to transfer the money.

Mine is a business account though, but I would think the same applies for non business.

 

Link to post
Share on other sites

It's a bit of a pain getting set up but then done all ok.

 

You get charged a bit for receiving money. I add a bit on to my charges to take that into account.

Link to post
Share on other sites

I use it all the time to pay...and get paid. Works great but vendors beware,, any kind of claim against you will instantly freeze your account and the funds in it until resolution. I've never had it happen to me but other reputable sellers have been stung by less than honest buyers. I never leave a significant balance in my paypal account just to be safe. But..ya...for the buyer, it's pretty good protection. If you do need to make a claim be careful of the time limit,, 45 days comes pretty quick if shipping on an item is slow and you are being patient.

Link to post
Share on other sites

I'm not sure about charges, but for a one-off like that if you don't have a bank account attached to it (I don't) you'll just wind up with a credit balance in your account so next time you buy something the charge(s) will be taken off that credit balance first before your CC. If it's a really large amount and you want the cash, rather than just whittling it away on future PP purchases, well then that's another story...

Link to post
Share on other sites
×
×
  • Create New...