Joe Posted February 25, 2004 Report Share Posted February 25, 2004 Hi Guys, How are payments made to the seller when using Pay Pal. When a purchase is made, does Pay Pal deposit the funds directly into your account or does does Pay Pal send out checks monthly? Thanks, Joe Quote Link to comment Share on other sites More sharing options...
alsworms Posted February 25, 2004 Report Share Posted February 25, 2004 When you register with paypal, you add a checking or savings account (as many as you like). Once a buyer sends payment, the money is automatically entered into your paypal account (minus the paypal fees). From there, you have the option of transferring the money into your bank account or requesting a check from Paypal. Instant transfer usually only takes a couple days. If you opt for a check, there is a small fee (1.50 I believe). Hope this helps Chris Quote Link to comment Share on other sites More sharing options...
alsworms Posted February 25, 2004 Report Share Posted February 25, 2004 One more thing I forgot to mention...... the choice is completely yours about transferring or debiting your paypal account. You can let the account build up as much as you like. Paypal does not automatically send a check or deposit in your bank account. Personally, I don't let much money sit in there before I make the transfer. I'm not completely sold on the idea of just having money sitting in an account on the internet. Quote Link to comment Share on other sites More sharing options...
woodsac Posted February 25, 2004 Report Share Posted February 25, 2004 I have a PayPal Master Card. But, it's not a normal 'charge' card in that sense. It's more like a debit card. You can use it anywhere that you would use a credit card, but you only have access to the total amount of money in your PayPal account. It's great for purchasing supplies and things of that nature. You can also withdraw money from the ATM with it. Very handy and you can never exceed your limit. Because the limit is only what's on hand. Quote Link to comment Share on other sites More sharing options...
Joe Posted February 26, 2004 Author Report Share Posted February 26, 2004 Thanks guys I appreciate the info. I'm just getting set up with Pay Pal and wasn't quite sure how it worked. Joe Quote Link to comment Share on other sites More sharing options...
