When getting paid on paypal, where does the money go?

Question

I want to sell on eBay, but I don't get how the PayPal system works. When I sell something on eBay, the money goes to my PayPal account... Then what? Does it automatically go in to my bank account? Or is it credit so I can buy other stuff?

Answer 1

Paypal works in all the ways that you just talked about... it all depends on how you set up your account.
Once someone purchases your items and they pay with paypal it goes into your paypal account, then after a certain time, or immediately you can have it transfered to a bank account, or they can mail you a check.
If you purchase something on ebay you can pay with the money you have alotted in your paypal account.

Hope this helps!

Answer 2

When you set up a PayPal account you give your bank account so when money goes to PayPal they can either leave it in the PayPal account (if you choose that) or else you can take money out of the PayPal account by telling them you want to withdraw x amount. They will then transfer it to your bank account.

You can choose to leave some in in case you want to make an Internet purchase, but essentially it isn't a credit. Its your money.

You can also make an authorization that PayPal can withdraw money from your account as well.

You decide what happens to your money by letting PayPal know.

Answer 3

PayPal is extremely easy to use and very step-by-step when ur setting up an account. When u get money it goes to your paypal account, from there u can use it to make purchases(available immediately), have it sent to your bank account(takes a couple days), or receive a check(about 7-10 day wait). Hope this helps you :-)

Answer 4

You will need to link your bank account to PAypal. Then when you sell an item it will stay in your paypal account if you want to buy other stuff. You will need to transfer the money to your banck account from paypal or you can have them send you a check it you want to get the money. You can do all of this from your account online. Its easy

Answer 5

Both. You have to have a bank account registered with PayPal to use it. But you can also just carry a balance in your PayPal account, which you can then use to pay for things on e-bay, and other on-line commerce where it is accepted. You have to actively transfer money from PayPal to your bank account if that's where you want it to go.

Answer 6

Paypal has a few options for getting paid, but any option requires some action on your part.

1. Have paypal mail you a cheque (i believe the charge is $1.50)
2. Setup a link to your bank account (you'll need the bank name and routing numbers from your cheque).
3. some others, i can't recall.

Any way you choose, Paypal is set up to make it rather straightforward. Just follow thier instructions and you'll get your money.

Answer 7

It goes into PAYPAL's bank account and a balance is shown on your PayPal account. You have to take action to transfer it into your bank account. It's easy to do...but you gotta remember to have PayPal credit your bank account.

Answer 8

No, it stays in your Paypal account. You can log in there and click on the link and it will transfer to your bank account free of charge. If you don't do that, the money stays in your paypal account.

Answer 9

Both, when you receive money it stays in your Paypal account until and unless you have them transfer it to your connected bank account. But you need to ask for that, otherwise in stays in your account.
And yes, you can purchase against that, as it is the first money they use when you incur a charge against your account. After that is gone, they go to your bank account, or you can specify a credit card to charge it to.
I usually do the latter, as my credit card gives me a 1% rebate on all charges.

Answer 10

When you sign on with PayPal, you should have been asked where you wanted your funds to be deposited. If you haven't contact PayPal and get this straighten out.