A ? about using Pay Pal to receive $...

Discussion in 'General Conversation' started by Hope, Jan 30, 2009.

  1. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    Does anyone know....

    do you need to have a business name/ special account and all that jazz in order to receive funds through pay pal?

    This isn't about Ebay or any sort of major buying/selling, just trading a few aquarium plants with other hobbyists. Instead of waiting for them to send a money order, thought there might be a way to put PayPal to use, but I have no idea how that works. I mean, we wouldn't even have a "buy now" button or anything like that... so how do you tell someone where to pay their bill?

    Thanks for bearing with my dumB questions... lol. :eek:oooh:

    Carolyn
     
  2. andrew76

    andrew76 New Member

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    457
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    southwest ohio
    Thanks hope. I was wandering the same thing good thread!!
     

  3. pk_powell

    pk_powell New Member

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    3,485
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    Missouri
    Hope:
    Thanks for starting this thread,I find it very interesting.I too would like to know about these things.:smile2::cool2:
     
  4. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    Thanks, Pat and Andrew... maybe together we can figure this out! :smile2:
    Yanno, I tried reading at the paypal site, but just kept feelin like I was missing something. Much of it seems to be directed toward folks who want to use credit cards and such, but what if you just want to use your checking account/cash? And exactly how much of a service charge is there?
    Soooo many questions... so little brainpower :tounge_out: :wink:
    My head started to spin, so... I came here! :smile2:
     
  5. olefin

    olefin New Member

    Messages:
    3,908
    State:
    Texas
    Hope,

    All is needed is a bank account and supply Paypal the info for them to deposit funds.

    For safety I use an account that never has much funds in it.
     
  6. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    Thanks, Dayton!

    So... what info do you give the person who's buying from you, so that he can put the money into your paypal acct?

    From what I gather, any money which is paid into your pay-pal acct. will remain there until you request that it be transferred it to your actual bank account?
     
  7. olefin

    olefin New Member

    Messages:
    3,908
    State:
    Texas
    All he needs is a Paypal account. You set it up with Paypal to make deposits to your account. They will notify you when the deposit is made.

    Been a while since I sold anything but believe that is correct.
     
  8. andrew76

    andrew76 New Member

    Messages:
    457
    State:
    southwest ohio
    Thanks Hope,Pat and Dayton I guess we know now.
     
  9. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    hmm... okay, guess I need to check with paypal about setting my account up to receive deposits from others?

    I do know that when you add a bank account to your paypal, it has to be verified.. and that can take a couple days. They do this by making a couple small deposits (like 29 cents, or whatever) to your account, just to make sure it is all working right.

    Thanks, Dayton!
     
  10. Philiagorillia

    Philiagorillia New Member

    Messages:
    296
    State:
    Missouri
    Personally i'd steer clear of paypal, they have screwed up orders and payments for both me and my g/f many times. That and paypal accounts are simple to steal, not trying to scare ya out of it, just a fair warning to people on here that use paypal. I've had my fair share of bs from them, and i'll never use paypal again. If you do use them, i suggest loggin in at least once a day to check account activity to make sure nothing is going on that you arent aware of.
     
  11. ShilohRed

    ShilohRed New Member

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    4,339
    State:
    West Tn
  12. ShilohRed

    ShilohRed New Member

    Messages:
    4,339
    State:
    West Tn
    They deposited the cash into mine that night.
    Pete
     
  13. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    Wow... thanks, Pete. Nothing seems to show on our bank statement (website) till at least the next business day, so maybe it's all manually updated... I dunno.

    But thinkin about what Dayton said, and Phil's warnings (Thanks, Phil!)\
    I'm gonna re-arrange accounts and just give them a special one without much in it... lol. Just to be safe.
    We're waiting now for our first payment to roll in... not much, but it's turning out to be alot of fun and my husband really likes not having to just throw away all the extra plants. (Not to mention a fund to cover expenses of maintaining the tank... I like that part!! :tounge_out:)

    Thanks for all your help! Will let you know how it goes.

    Carolyn
     
  14. oh no

    oh no New Member

    Messages:
    11,108
    State:
    Indiana
    Hope when I was selling on ebay,,, paypal gave me a debit card,,,,, I had access to that money as soon as it hit the account, I love debit cards. lol
     
  15. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    Jim, lol.... I can just imagine :smile2:

    No, seriously... that may be a good option at some point, but for now I think he mostly wants to leave the money in there and then turn around and spend it again in relatively short order. Sound familiar? LOL j/k
    I, on the other hand, could really use a few more debit cards :tounge_out:

    Thanks!
     
  16. oh no

    oh no New Member

    Messages:
    11,108
    State:
    Indiana
    When I was Ebaying for a living,,, PayPal had about 4 thousand a month cross my account. They have a bill pay deal too I think,, as I paid some bills electronically also.

    With the debit card for most stuff,,, gas,, grocerys,,etc. It worked out nice. Then any money sitting there was getting a better interest rate than the banks would pay.

    The bad thing was if you wanted a lot of cash at once, in a check form,,, seems like it took a couple weeks to get that check. But if all you want is the ATM limit of 300 a day or so, heck you should have it,,, if it's in your account.

    Now I just use mine to pay for stuff or contribute to this site. That is the way to go for me,,, no writing checks like I used too,,, no mailing bills,,, I love electronic banking. It has made me totally lazy. lol lol

    I have done it so long,, I don't know what a stamp cost,,,, my wife does.
     
  17. olefin

    olefin New Member

    Messages:
    3,908
    State:
    Texas
    I seldom use Paypal but it's great to sell stuff online. Also I pay my bill here with it. They send instant email when money is spent or deposited.

    I've never had a problem with Paypal. In fact they usually send out a $20 coupon every year that I make use of. But like I said, I have a special bank account for Paypal. I've read where people did have problems.

    We've never had a debit card and never will. Although we've used credit cards heavily since 1986 when Discover came out with their cash back award card. We pay them off in full each month, never paid a penny interest or fees... it's paid us several 1000 tax free dollars over the years. We almost never use cash or checks.

    The last time I used cash was to buy minnows last summer.
    The guy won't take a credit card for less than $5. :smile2:
     
  18. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma
    Hey, thanks for all of your help and info, guys!

    Well, it's been a long day out and about college shopping with daughter, but just wanted to let y'all know that it worked!

    Got home tonight and had an email showing we'd received our very first payment to pay-pal, all tied up with a neat bow :smile2: Pretty cool!

    Hope y'all are havin a great weekend!

    Carolyn
     
  19. Hoopie

    Hoopie New Member

    Messages:
    818
    State:
    Ohio
    Hope, if you have not found out how yet to send an invoice to someone thru paypal there is a feature there that will do it for you. All you have to do is fill in the info. As long as you are cautious with your passwords and you have a good internet security program you should be fine.
     
  20. Hope

    Hope New Member

    Messages:
    1,177
    State:
    Oklahoma

    Thanks, Chris! I just stopped by to add a p.s. and say that another small payment had come in.... lol. It's not much, but sure is providing alot of entertainment for us at the moment :smile2:

    Oh, and I see now there is a tab where you can "request money"... so that must be the invoicing portion of the service. Very cool! Almost makes me want to concoct some sort of Ebay sales just to learn how all that works!
    Startin off with baby steps here tho :roll_eyes: