How does Paypal and Ebay work?

Discussion in 'General Discussion' started by wikkiddavis, Sep 20, 2010.

  1. wikkiddavis

    wikkiddavis The wikkid man

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    Ok im confused Im sure im goona feel really stupid once someone explains this to me but meh o well im goona ask anyways couple of questions.

    1. On my paypal account it says Transfer Funds Do I need to Transfer Funds from my Bank account onto paypal to buy off ebay or what?

    2. I linked my Paypal to my Ebay Can I just go Buy things now or what?

    Thanks.
     
  2. Aernaroth

    Aernaroth <b><font color=blue>I voted for Super_Megatron and Veteran

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    1) Yes. Transfer funds from your bank account to your paypal account.
    2) Yes. You'll be able to make purchases off of ebay, and pay using your paypal account and the paypal account of the person you're buying from.
     
  3. wikkiddavis

    wikkiddavis The wikkid man

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    ok thats what I thought thanks my brother does this ebay stuff and i asked him this and he gave me a strange look so I figured id come on here and ask someone whos not a ass hole

    THANKS
     
  4. Tigertrack

    Tigertrack Back In The Game!

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    You can also use it for selling too! Works great! Let's say you've sold a figure for X amount. Your buyer pays you, when the funds are available, you can then electronically deposit from your PayPal account to your bank account. I think it takes 3-4 days for payment to clear.
    So it's not just great for buying, but it's awesome for selling! :D 
    However, if you do link your bank account to your PayPal account, I would keep track of them very carefully. Like 2-3 times a week as you don't want your bank account to accidently go into the negatives. It's very easy to do when buying on ebay.
     
  5. wikkiddavis

    wikkiddavis The wikkid man

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    Well If I have to Transfer the Funds From my Checking account to Paypal before I even Bid or buy anything I should be able to keep track of that tho right? I can't Bid more then whats in my paypal account am I right?
     
  6. bouncing boy77

    bouncing boy77 Syntax Error

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    you don't necessarily need to put money into your paypal account from your checking account in order to purchase things from ebay or other online stores. paypal automatically takes the money off the checking account you have set-up with them. so just make sure that everytime you go and buy stuff and pay via paypal that you have balance left on your checking account.
     
  7. Aernaroth

    Aernaroth <b><font color=blue>I voted for Super_Megatron and Veteran

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    Look, just post all your account info and passwords here and we'll take care of it.
     
  8. Omegatron

    Omegatron Mandatory Fun. Buy it now TFW2005 Supporter

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    Ebay:
    Social Security number too, please.
     
  9. DeathStorm

    DeathStorm Snoochie Boochies

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    ^^^lulz.

    Seriously, I wouldn't recommend keeping any money in your Paypal account for any extended period of time. Hackers have been known to gain access and even though Paypal is FDIC insured, disputing anything with them takes a lot of time. I also recommend that you not link your paypal account permanently to any sites (itunes, BBTS, ebay, etc.). What I mean by that is most sites will ask if you want to save your payment information, always decline - manually enter your paypal info each time you purchase. Otherwise, if someone hacks any of the sites you shop on and the paypal account is linked permanently, they'll be able to buy things up and there's nothing you can do until it's too late (I know from personal experience).

    When you pay for something from any paypal accepted site just pay through paypal. You don't need money in there to do so. Paypal will, in turn, deduct the money out of the bank account you have set up with them.

    The reverse happens if you sell. You'll have a paypal balance and you'll be able to do a transfer to your bank. That can take a few days. If you are going to sell regularly you can order a paypal debit card from them. It allows for direct withdrawl from your paypal account at any ATM. The downside of that is that you're looking at ATM fees and small paypal fees. That's why I don't recommend it unless you are selling a lot of items and doing so regularly.
     
    Last edited: Sep 21, 2010
  10. wikkiddavis

    wikkiddavis The wikkid man

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    Thanks Everyone I figured it Just kinda new at this Bank stuff
     
  11. Ops_was_a_truck

    Ops_was_a_truck JOOOLIE ANDREWWWWWS!!!!!!

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    Ebay:
    It's cool. It takes a bit of work to get the account details smoothed out on both sites.
     

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