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PayPal question for you guys who sell stuff and use them

moparedtn

I got your Staff Member riiiight heeeere...
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I've had a PayPal account for years now and typically use it for buying stuff.
I've never really had any "cash" balance in there, so my question is:
If I sell something and accept PayPal for payment, will PP allow me to transfer
those funds to my regular checking account upon receipt even though I have
a PayPal credit balance now?
Thanks!
Ed
 
I've had a PayPal account for years now and typically use it for buying stuff.
I've never really had any "cash" balance in there, so my question is:
If I sell something and accept PayPal for payment, will PP allow me to transfer
those funds to my regular checking account upon receipt even though I have
a PayPal credit balance now?
Thanks!
Ed
No there is always a waiting period during the transfer, you can transfer instantly but it won't be there instantly. Mine is typically 1 business day. If I transfer to my bank account on Monday before 7pm it will be there by Tuesday end of day.
 
No there is always a waiting period during the transfer, you can transfer instantly but it won't be there instantly. Mine is typically 1 business day. If I transfer to my bank account on Monday before 7pm it will be there by Tuesday end of day.
Thanks!
Ok, the delay is understandable - but PP won't insist on blocking the transfer to apply the funds against my
PP balance instead, right?
 
Thanks!
Ok, the delay is understandable - but PP won't insist on blocking the transfer to apply the funds against my
PP balance instead, right?
Not really clear on what your asking.. There is no blocking you can keep your balance at zero it's your money. You can also use PP with a zero balance having just transferred the funds to your bank account. So say I have a zero balance and an hour before I transferred $200 to my bank account. So I had $200 it is being transferred and I buy something for $125 when it is finally in my bank account it will only be $75 they will use that money while in limbo between them and your account...
 
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Maybe you should just read the info on the Paypal site !!
 
I would go to the Paypal credit site and read the fine print under Terms and Policies, they might want there money first if it shows in your cash balance. Read the FINE print first,, :mad:just sayin
 
I think they look at PayPal Credit and PayPal as two different indices, as long as your PayPal credit account is current PayPal transactions will not be affected.
 
I think they look at PayPal Credit and PayPal as two different indices, as long as your PayPal credit account is current PayPal transactions will not be affected.
This^^. I was told by many PayPal credit destroys your credit rating... I do not have it was only talking about transfers to bank account as bad as PP is they may take thier funds if CC payment is due or past due. You can call them they normally help but the answers are always in thier favor.
 
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i sure hope you arent selling your car Tn...
and,tbh,im not sure why youd be using paypal for any large amounts,
as all they are doing is acting as a middleman,
and taking their " cut " directly out of your pocket.
you dont Need paypals help and lately their guarantees have been worthless.

instead,perhaps a bank wire transfer from the buyers bank to your bank.
nervous about personal details?
setup an alt account and have the funds sent there,
cleared and then transferred to your reg account or withdraw and spend.
 
I would go to the Paypal credit site and read the fine print under Terms and Policies, they might want there money first if it shows in your cash balance. Read the FINE print first,, :mad:just sayin
they automatically take their cut before it hits your account
 
This^^. I was told by many PayPal credit destroys your credit rating... I do not have it.
Actually they don't repport it to any of the Credit agencies. I use Credit Karma to monitor my credit...Free by the way...and there are no listing with either Experian, or Trans Union of my having a Pay Pal account. If you are saying that in fact they will mess up your credit rating, then would you please show us an example. I have had a Pay Pal account and Credit account now for over 10 years and have never had an issue nor have they reported anything to any Credit Agency that monitors me...cr8crshr/Bill:usflag::usflag::usflag:
 
they automatically take their cut before it hits your account
That's why when I sell something, I tell the buyer to send it via Friends and Family and no fee is deducted. Saves me and the seller money because if they will not do it that way, then I always charge them for the Pay Pal service charge...cr8crshe/Bill:usflag::usflag::usflag:
 
Actually they don't repport it to any of the Credit agencies. I use Credit Karma to monitor my credit...Free by the way...and there are no listing with either Experian, or Trans Union of my having a Pay Pal account. If you are saying that in fact they will mess up your credit rating, then would you please show us an example. I have had a Pay Pal account and Credit account now for over 10 years and have never had an issue nor have they reported anything to any Credit Agency that monitors me...cr8crshr/Bill:usflag::usflag::usflag:
I only read it on Facebook from people I am friends with. It maybe a new practice for new credit cards.. I don't know. I do not have first hand experience with it but it looks like you maybe correct as they say they do not report to FICO scores maybe the ones whose scores were lowered had other issues and was coincidence..
 
I use PayPal and PayPal Credit, both for convenience. I think with some of there latest policy updates, that they really don't want you to carry balances in your PayPal account. PayPal Credit I sometimes use to give me more time to pay with no interest. I also avoid fees anywhere I can unless I feel I need their protection on purchases. Personally I've had no problems with the service.
 
Hi Ed, I set up a separate account at my bank to use just for PayPal. So if I sell something I transfer to that account. Once in that account I transfer to my regular savings or chequing account. Always leaving the account I set up for PayPal at $0 or maybe 1 penny balance.
This way they don’t have access to my regular stuff and could never possible debit my account for whatever reason. You never know with these companies and how often they change their terms and conditions. They may say they have the right to debit your bank if a PayPal user complains and wants their money back etc....
I feel I’ve protected myself well this way.
Don’t know if any of that makes $sense? (Pun intended)
 
i sure hope you arent selling your car Tn...
and,tbh,im not sure why youd be using paypal for any large amounts,
as all they are doing is acting as a middleman,
and taking their " cut " directly out of your pocket.
you dont Need paypals help and lately their guarantees have been worthless.

instead,perhaps a bank wire transfer from the buyers bank to your bank.
nervous about personal details?
setup an alt account and have the funds sent there,
cleared and then transferred to your reg account or withdraw and spend.
This isn't about the car....just looking to sell off some unused parts.
Thanks.
Ed
 
That's why when I sell something, I tell the buyer to send it via Friends and Family and no fee is deducted. Saves me and the seller money because if they will not do it that way, then I always charge them for the Pay Pal service charge...cr8crshe/Bill:usflag::usflag::usflag:

I wholeheartedly disagree with this practice. Not only is it operating outside of PayPal policy, you are basically forcing your buyers to relinquish ALL RIGHTS they otherwise enjoy under the terms of the sale contract.
Under current policy, add .29 to the sale price, and then add in 2.9% to that to arrive at the final price. Your buyers will be protected and the nominal extra fee will be paid by the buyer so it won't impact you AT ALL.
 
That's why when I sell something, I tell the buyer to send it via Friends and Family and no fee is deducted. Saves me and the seller money because if they will not do it that way, then I always charge them for the Pay Pal service charge...cr8crshe/Bill:usflag::usflag::usflag:
Agree with ^^^^^^. If you sell something and ship it and P/P takes their fee, there can be a waiting until item is delivered and a few days beyond. Family and friends transactions are available immediately.
 
I wholeheartedly disagree with this practice. Not only is it operating outside of PayPal policy, you are basically forcing your buyers to relinquish ALL RIGHTS they otherwise enjoy under the terms of the sale contract.
Under current policy, add .29 to the sale price, and then add in 2.9% to that to arrive at the final price. Your buyers will be protected and the nominal extra fee will be paid by the buyer so it won't impact you AT ALL.
Completely agree with this.
i get people who dont want to pay anything extra,even Insurance,
so i usually pay for that out of my end.
no sense in putting yourself at risk.
 
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