Paypal

[ashfaque]

I apologise if it sounds too basic. I have never used Paypal (or ebay) before! I just want to make sure that my understanding is correct. I have a Paypal account. There I have set my account in a way that money should go only by Credit card - i.e., I have only registered my NATWEST issued cr card for transaction.

I didn't put any money in the Paypal fund using the option 'Add Funds'. My understanding is that a credit card (in this it is Mastercard) is safer in case someone hacks into my account or any form of unauthorised payment. I pay the due amount every month to avoid any interest. So my question is if I use my credit card do I have to put some money in Paypal Fund (using 'Add Funds' option) or will I be charged as per my normal credit usage? I want to use the cr card. Hence asking beforehand - I don't want to end up paying fine or any other form of extra money to either Paypal or my bank.


FYI, I'm in UK.

Best regards,

Ashfaque

 

[_goodtimez]

When you buy using Paypal, your credit card will be charged just as if you had used it. No extra charge on that.
When you sell using Paypal, there is a minimum 3.5 % of the received amount kept by Paypal. The rest of the money is left on your Paypal account until you decide to transfer it to any other account. This transfer can not be made on a credit card directly but to a simple bank account instead.
Hope this helps.

 

[ashfaque]

Thanks for the information, goodtimes. 🙂

Anyone else, especially from UK?

 

[FrankS]

No need to put money into your paypal account, when you buy something, it just gets charged to you credit card. Paypal acts as an intermediary, credit card company pays paypal, paypal pays seller and keeps a bit.

 

[Gabriel M.A.]

Small print: PayPal defaults your payment to electronic withdrawal directly from your checking account (which is how most mortals can open a PayPal account); when you pay just check on "other payment method" or something like that, and then you select your credit card (which PP will then do a double "are you sure?").

For this to happen, though, you need to have added a credit card into your account; you don't add one "on the fly" (i.e. during a particular purchase; you select from one already added to and verified by PayPal).

 

[ashfaque]

Frank & Gabriel: Thank you for your advices as well.

@Gabriel: I did exactly what you mentioned when I registered with Paypa. So I think I'm safe (, from additional cost,) to deal on Paypal using my registered cr card.

Somewhat related: If I use this cr card and Paypal thing via ebay, is there anything I should be aware of, or they are the similar?

Thanks 🙂