paypal question

[back alley]

ok, i caved in and activated a paypal account.

since i do not use credit cards i cannot have the account verified.
i think i can still use the account but i'm wondering about the un-verified status, will this impact my using the account any?

joe

 

[taffer]

If my opinion matters, I will trust you Joe, even if you're unverified buddy 😀

 

[dcsang]

I don't think it will impact you using the account to receive cash - I've had my account for a number of years and while it is handy, the fees really bug me but hey, it's part of the "convenience" in today's "I WANT IT NOW !!!!" society 😀

And when it comes to gear and GAS attacks.. I WANT IT NOW isn't fast enough 😀

Dave

 

[JoeFriday]

you should be able to use the all standard 'non commercial' features of the account.. which means you'll be able to send money from any sort of account.. bank transfer or credit card

but if you want to be able to receive credit card payments, you'll need to sign up for the business account.. it's "free" but then Paypal deducts a percentage from all monies you receive.. I believe it's 3.5 percent

 

[VictorM.]

I finally gave in and set up the same kind of paypal account. The stupid thing is, it takes about a week to transfer the money to the seller. That's about the same time as snailmail takes!

 

[JoeFriday]

yeah, that's why I never do standard bank transfers with Paypal.. a credit card payment is instant, but I've had bank transfers take 10 days.. it's because Paypal makes a lot of money by putting your payment into their account.. they collect the interest for a while, then pass it on when they 'feel like it'.. I don't believe they can do that with credit card payments

I also will only use credit cards with Paypal because I don't trust Paypal to help you out if the seller screws you.. I've had two eb*y sellers disappear after taking my money.. Paypal merely 'confirmed' that I got screwed and promised me that if they ever got any money from that account again (which had already been closed by then) that they would send it my way.. then I think they're going to go looking for O.J.'s "real killers"

fortunately, I paid with credit cards in both cases.. I called the credit card company and had the money returned to my account within 3 days, basically no questions asked

 

[anandi]

If you are buying in an unverified account, you can purchase up to $750 (that was my limit and experience) in total. This $750 wasn't a credit limit, either, it was like a virtual account being depleted. After that, they force you to become verified. That was my experience anyway. The account limit happened right after an e-bay purchase and was inconvenient because getting verified can take up to a week. I wasn't very impressed with the whole situation, but what can you do?

 

[back alley]

geez, if it takes a week to 10 days to send a payment from my account to a seller then it's of no use to me.

i'm not a seller normally but a buyer, yes.

joe

 

[aad]

Just a word on funding an account with a credit card- American Express and Discover may not allow you to charge back a PayPal payment, even if you were cheated. It's a deal they cut with PP.

Mastercard and Visa are networks-PayPal cannot void your chargeback rights.

 

[VictorM.]

It's most usefull when the seller says "Paypal only." That's why I registered.

 

[peter_n]

geez, if it takes a week to 10 days to send a payment from my account to a seller then it's of no use to me.

i'm not a seller normally but a buyer, yes.

joe

No it doesn't take a week Joe, its pretty instantaneous. PayPal goes to your account, gets the money and then tells the seller they've been paid $xyz. Seller can then dump $xyz into their own account about 4 days later.

It is quick and it works pretty well. Sellers fee for the use of PayPal is 2.9% BTW.

 

[JoeFriday]

perhaps they've improved their service.. but I remember very clearly when I set up my account a year or two ago checking my account every day for a week to see when the 'instant payment' would be 'completed'.. and the seller wouldn't see that money in his account until it was 'completed' for both of us

but as I said, I don't do bank transfers anymore.. can anyone else confirm that bank transfers are instantaneous now?

 

[dkapp]

geez, if it takes a week to 10 days to send a payment from my account to a seller then it's of no use to me.

i'm not a seller normally but a buyer, yes.

joe

Do you have a visa or mastercard backed debit card from your checking account? This is what I use and payments are instant and come out of my checking.

Dave

 

[Ralf]

I had major problems with paypal a few years ago when I agreed to receive funds via paypal, for a Pentax lens sold to a person in Spain (from Australia). The amount was over $200. I think they demanded by credit card number (which I did not give). I didn't see why I should when I was meant to be recieving money, not giving it. I never did get the cach and i assume some of it is still in there.

From that point onwards, I vowed to never use that company, and I do not deal with folks who insist on Paypal.

I there's any way of getting it out, I'd like to hear about it, even tho I have largely forgotten (it was about 3 years ago).

 

[dcsang]

perhaps they've improved their service.. but I remember very clearly when I set up my account a year or two ago checking my account every day for a week to see when the 'instant payment' would be 'completed'.. and the seller wouldn't see that money in his account until it was 'completed' for both of us

but as I said, I don't do bank transfers anymore.. can anyone else confirm that bank transfers are instantaneous now?

Last time I tried to do a bank transfer (earlier this year - no more than 5 months ago) it was going to take 5-7 days and it would have involved me "verifying" my bank account.

I decided against it.

Having been through a couple credit card frauds myself, I can deal with credit card companies and fraud but I don't know if I could handle my accounts being touched.

Dave

 

[back alley]

looks like it will be for the paypal only deals for me.

i don't use credit cards of any type.

joe

 

[richard_l]

Payments made via PayPal from my bank account are almost instantaneous. I get an email confirmation that the seller has been paid.

 

[Poptart]

I've added "check or money order preferred" to all my new eBay listings. PayPal is owned by eBay, so the extra fees you pay are the definition of double dipping.

 

[nwcanonman]

geez, if it takes a week to 10 days to send a payment from my account to a seller then it's of no use to me.

i'm not a seller normally but a buyer, yes.

joe

....................
Joe,
Unless it's the weekend, I've never had it take more than 4 days to get cash transfered. Most sellers have sent me the camera/lens/photo-thing right away and had very little delay at all. Other than not being a "Free" service, I've no complaints with Paypal. 😀

 

[peter_n]

perhaps they've improved their service.. but I remember very clearly when I set up my account a year or two ago checking my account every day for a week to see when the 'instant payment' would be 'completed'.. and the seller wouldn't see that money in his account until it was 'completed' for both of us

but as I said, I don't do bank transfers anymore.. can anyone else confirm that bank transfers are instantaneous now?

I can confirm that international bank transfers are not instantaneous. 🙁 I don't know about within the USA.