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river
Forums Junkie

Location:
Land of Oz
Registered:
June 2004

Re: PayPal users, enlighten me...

Mon, 09 August 2004 23:38

Hi,

Jayem wrote on Tue, 10 August 2004 08:09

I cant find plain info about paypal. It's all that lawyer mambo jambo.

Quote:

I don't know anyone how's using paypal so I turn to you guys.

I've used PayPal for a few years now and eBay even longer, which now owns PayPal.

Quote:

What I want to know is:
1. where I send the money?

PayPal uses any email address. So, you could send money to anyone who owns a valid email address.

Quote:

2. can I do the transfer as a direct account transfer?(from my account to paypal account)
3. do I need credit card?

You need to register with PayPal to be able to send money. PayPal requires a VISA card (there's a couple of others, but I can't remember them at the moment, but they're on the PayPal website). It needs to be an internationally recognised credit card, especially as we're in Oz. Maybe they can link to accounts in the States - maybe even here, but I use VISA.

Quote:

4. What does the paypal services cost? it cant be free like they advertise their services.

They charge the receving person a fee if that person wants to get the PP money into their own bank account. However, the receiving person can "leave" the money in PP, and when they wish to pay someone they just use the funds in their PP account, without incurring a fee.

Think of PP as like an electronic bank. It relies on most people not wanting to get their hands on physical cash. Hence, all this electronic money is for PP to use and invest and play with. This is similar to most Banks, but PP doesn't have branches and face-to-face customer service.

It's very popular with eBay sellers and other types of commerce. For example, I sell something to you for $100, and I send it to you via PayPal. (If you want to take that money out, you may only get $90 'cos PP will charge a fee. And, that money goes into an account, and then you go to the bank to get the actual cash.)

If you then decide you want to buy something from another person for (say) $75 - you can send them the cash via PP. This means you will have $25 left in your PP account. Notice, that there is no fee associated with transferring PP money around the net. If you wanted to get the remaining $25 as cash, then you'll get (maybe) $20 - again 'cos of the transfer fee when removing the money from PP. If you did nothing and let the $100 sit there in PP, then PP will use it for their purposes until your take it out - just like normal Banks and Credit Unions do.

But, when you're buying and selling and the majority of your trade is with other PP members, then its cheap, cost free and easy.

Using the above example, assume you have $25 left in PP after you paid someone $75. If now you need to send $40 to another person, PP will use the $25 left in your PP account and take the required $15 from your VISA (or whatever account type you have instructed PP to use).

Quote:

5. There seem to be lots of anti paypal pages. What's that about?

Yeah, I've seen them. I've used it for a few years and have never had any issues with it. The best way to protect yourself is to get a VISA card with a very small limit. Use this card purely for PayPal.

PP gives you emails and has an account history. Also you get your VISA statements, and just check the two against each other.

It's considered a little unpolite to send someone money via PP if that person doesn't use PP. That person will have to then register with PP and give their card details to allow them to get the money into their account. Not only does this incurr a fee, it also pisses of the receiving person. However, people that do use PP are often more than happy to have the money sent that way. So, you should always ask if its okay to send them money via PP.

There's some bogus email and PP-spoof sites that try to trap people. But, PP wil always put the users name in their email instead of "Dear Member" or "Dear Customer". You get an email from PP (or your bank, if you use internet banking) that starts with member/Customer and not your own name, then shit-can it to the recylce bin - it's a bogus.

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6. Any alternative "paypals"?

Yes, there are some others, but they will require access to your accounts or credit cards so they can send the money electronically. Which is the same as PayPal! Of course, you can always go to the post office and send a money order. This costs you more due to the Post Office using an worse exchange rate and also hitting you with an $8(approx) fee for the transfer.

Hope the above helps.

seeyuzz
river

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