Hey guys,

My wife set up a Paypal account tonight. It gives you the option to use your credit card or bank account number for making payments.
She always pays for the parts I order from the U.S.A with our Credit Card. Yes she is the boss LOL.

I'd like to know how you guys use it, my wife didn't want to put our Credit Card on the site, instead opted for bank account payment . However the bank account payment can take 3-5 business days.

That sucks if you want something immediately I would think.

Hope you guys can let us know how most use Paypal, and if using a Credit Card is OK.

Cheers
Eric & Christine

 

I have my p/p acct. linked to a checking acct. As long as there is money in it,
it will transact immediately. I also try to keep a balance in my p/p acct. to pay
for purchases out of it without touching the bank acct. Hope this helps.

 

i also hv it linked to my cking. can send $$ to my daughter also once a month.

 

Thanks, we tried to send an amount just after setting it up to our bank account which in know has a couple bucks in it.
However it wouldn't let us put an amount in the box to the person that we wanted to send to.
Does it take a few days for Paypal to hook-up into our account prior to allowing us to put an amount in?

Eric

 

Be aware that PPal can ****** $ out of your acct for no apparent reason too.

$250 taken, presumably because a buyer was unhappy or thieving, but PP never told me why exactly.

I filed papers at the bank for unauthorized transfer and got my money back then PP locked the acct. Been that way for over 10 yrs now. I use a different PP acct, and for selling anything over the pain threshold the buyer will send a money order or we don't do business.

 

Thanks Octania, now you've got my wife freaked out LOL. Its a good thing my wife couldn't figure out how to get our credit card on it.

Eric

 

I'm opposite, I donor want PayPal to have access to my bank account. I use a credit card with a low limit just incase. I guess I'm a little paranoid. I like Paypal so far.

 

It probably will take a few days for the accts. to link.

 

x2 also like Adam said i usually have a balance so it will use that first.....

 

Thanks Tru-blue & retroranger, I'll give it the time to link up and report back.

Cheers
Eric

 

part of it...you give them permission to add and remove money..

ive been with them since they started and never had an issue...ever..ive sold way over 100k and used them for everything with no issues

if its ebay...use the credit card option..the rest you should be fine..having a cc company on an ebay transaction isnt a bad idea..if it goes south bad they have your back.

i never send money as a gift ever..i send it and include the fees...ive been burned..people that wont accept it i wont do business with them ever..stuff happens...

i accept it on everything..because its part of my business..i am self employed and it gives me tax records..its up to them how they send it i dont expect them to pay fees..if they send as a gift i break my neck to make it quick, and go way above and beyond to make sure its right

its as easy or as hard has you want.

i do have my paypal acct totally isolated..separate check acct..separate credit card etc..and i transfer money around to make it work,,never had an issue..the only reason i isolated it, a couple years ago ebay was hacked and someone tried to buy $1000 worth of fish bubblers..it was ebay not paypal, and my bank set it all up for me so i wouldnt be at risk,,,they said if they got to my ebay who knows what else they got...it freaked me out..

i also shredded my paypal issued credit card..talk about a fee-trap...its so close to being a scam i dont see how its legal..it costs money to fart with it..so its closed..they hype it as a good thing..when you pull money..the atm AND paypal get money..and you have to watch it...it useless to me..and after giving money away for a couple years i closed it..done with that..they get enough..i dont need another convenience fee..they already hit me pretty hard because i have a commercial acct with them..their fees suck


its as safe as you allow it to be...never ever send money etc thru an email using paypal, its a fishing scam..if its real, go to your paypal acct and all requests etc will show up there..

other than that..its easy for me..i just pay attention..if i doubt anything i call my bank or paypal and i change pass words often..at least 10 times a year..at least

 

I've found that PayPal from a bank account is essentially instant.

The advantage of using a bank account is that the transactions are usually free (unless you are sending to a seller and not using "Friends and Family"), while they take a percentage on credit card transactions.

I have mine linked to both my bank account and a credit card, just in case.
I've never had a problem.

In addition to buying things, I've found PayPal useful for tanking up my kid's PayPal account before he was 18 (they limit what minors can do, and he would use it to buy video games and such) - he'd give me a $20, and I'd shoot $20 to his PayPal. He'd have it essentially instantly.
It's also great if you're shopping at a flea market or craft fair and don't have quite enough cash on you - you can PayPal from your phone to the seller's phone instantly.

- Eric

 

I feel the same way, and thats how we have it too.

 

When I set up my paypal account I opened a checking account at a different bank than what I use for my paycheck and normal banking. I try to limit the amount of money I keep in that account as well as my paypal account. Just in case things go south there won't be a ton of money in there for someone to steal. I also purchased lifelock a few years ago. I do a lot of online stuff and they're just one more layer of protection. One time I was signing up to get a new credit card through the bank. My cell phone rang and it was lifelock checking to see if I was opening a new credit card or not. They were on it so fast I think they could have blocked the process before it was completed if I didn't tell them it was me. John

 

Me too. I use my credit card as a back up just in case my checking account is low.

 

This is the way I use my paypal too.

I use a separate checking account that I only use for paypal and online purchases.

 

Give PayPal connection to both a bank account and a credit card for easiest use for all purposes. If you are paranoid like many seem to be create special accounts for this purpose. If you don't want to do this then don't use PayPal.

 

I also use a separate checking for p/p and like John, I use Pre-paid legal's
identity theft program. Even if you yourself check your credit, you will get an email
right away.

 

I've never had an issue with using paypal, and have a link to my bank account. However, the link is only with one sub-account for savings, that I regulate. So the other larger savings portion, checking, vehicle loan etc on my account is not accessed by paypal.

I also back it up with a credit card that gets auto-billed for my paypal fees. And this credit card is one I use strictly for on-line type purchases and transactions. That way, I know immediately if the account is compromised, where it may have come from.

I would suggest keeping a balance in your paypal account if you can afford to. I always run $200-300 so that if I need an ebay purchase or otherwise I can do that immediately. Then if you know you will be making a large purchase, set up a free transfer from your bank account to paypal. This takes 2-3 days but is free.

I try to control my habit by funding the paypal account solely with things I sell. So if I know I want to buy $100 of stuff, I try to sell $100 of stuff first. It's amazing what you can find in your basement/garage/attic to sell off! Better than tag sale that's for sure! Good luck!

 

Thank-you guys, this information is very useful to us. We have an account set up now and chose an account for the money to come directly out of the account my wife chose.
However it didn't allow us to enter an amount or send.
I would like to have this type of account for purchasing from Classic Olds in the future
Once its approved and good to go, I will keep money aside in the PP account so it doesn't affect our main chequeing account.

Eric

 

Looks like they are still doing the two small deposits for you to verify your checking account. See here and complete the process if you haven't already: https://www.paypal.com/selfhelp/article/FAQ686

 

My wife spend a few minutes on the site tonight, she was able to send a payment.
She is going to take the advice from you all and set up another account along with a new credit card on PP for car stuff.
Cheers
Eric

 

i once sent $200 to brian@hotmail etc, instead of bryan@hotmail, never got my my money back, $400 flywheel, hmmm. sent it as a gift not knowin'

 

And that's just one reason why you shouldn't use the friends-and-family gift feature. There's a reason that credit cards and PayPal charge their 3% fee; it's to help protect buyer and seller and settle disputes.

 

Thanks for the heads up with the "Friends and Family gift feature. We will be sure not to use this feature for purchases from whom are unknown.

 

The flip side of this is that you should use Friends & Family as the seller whenever possible, especially with large sales, and especially if the buyer has had a chance to personally inspect the item(s).

If a buyer pays with the "business" method, he can then tell PayPal that the item wasn't as represented, yank back his money, and keep the item.

In the end cash is king - if I'm selling something, it's going to be for cash, no refunds, no backsies, so I will accept only the PayPal method that most closely behaves like cash.

- Eric

 

I once had an idiot do a PayPal dispute on a boat I sold. Was an eBay PowerSeller at the time and PayPal called me and informed me that the buyer said the boat was misrepresented after he took the boat home and had it for a week. Also he spent a few hours at my house going through it. PayPal never took any of my money though, they did put a mark on my record of some sort if I remember right.

Moral of the story: if you have buyer's remorse, just call them and see if you can get the item for free. I can't believe they did that. Ugh.

 

if i would have cut and pasted dudes address it would have saved me $200, my 2 cents for today