Ebay/Paypal confused!?

Question

Ive never used either so Im confused! Ive read all that I could find on both sites and still dont quite get it. With paypal, I e-mailed them and they said they dont take money out of your bank account, you have to have money in your paypal account to pay stuff and it takes 4 days to get in there once you transfer it. Well if youre bidding on something and you dont know how high the price will go how are you supposed to keep money in your paypal account if you dont know how much its going to be? You cant put it in once you win the item because it takes four days to transfer the money. So what are you supposed to do? Help! (Thanks!)

Answer 1

Well,

eBay is the company that sells millions of products every day using eBay.com. Their payment gateway is paypal.com, which is also a property of eBay.com.

PayPal is the preferred way to send secure payments on eBay. With PayPal, you have an online account that makes it easy to send money from a variety of sources (like your credit card or bank account) to a variety of recipients (such as eBay sellers, online stores or your landlord) – without sharing your financial information. The recipient never sees your credit card number or your banking information.

You don't need to link your bank details with your paypal account unless you don't have a credit card. You can add a credit card to your paypal account to make purchases using your paypal account.

Once you plan to buy an item at eBay, you simply login to your eBay account and click on 'Buy It Now' or 'Place Bid' whichever is applicable. During the checkout process you will be asked to pay via either paypal or other forms of payment.

Simply choose paypal as the payment option, and immediately you will be taken to the paypal's website. Enter your paypal user id and password to proceed. Paypal will display a confirmation page with the total amount that will be debited from your credit card on file. Once you confirm the payment, paypal will debit the amount from the credit card on your paypal account and instantly credit it to the seller's account.

Answer 2

I am not sure where did you get you information. However, my experience is that you link you paypal account to you bank account. Then when you are the bidder and you win, when you pay with paypal, they serve as a proxy and transfer the money from your bank account to the other guy's paypal account. If you are the seller, you will receive the money to your paypal account and then you can transfer it to your bank account. The point of paypal is that the seller doesn't have direct contact to your bank account. ie having your account number or other information. Transferring money some time takes 3 to 5 business day. If you are new it will take around 7 business day to transfer money. Once you are established (after 4 to 5 transaction) paypal account will transfer the money automatically. In addition, to confirm your bank account, paypal will deposit a small amount to your bank account and you have to confirm that amount. I hope this helps.

Answer 3

When you buy from ebay, you do not have to pay for the item you have won right away. I think you have either 7 or 10 days. And I do not recommend paypal. It is too easy to get you bank account numbers on the internet. If you bid on any thing, see first if you can send a personal, cashier check or a money order. I have done ebay for years. and my ID got stolen once. I mail the payment to the person. I first let the person know just when I will put it in the mail. To do paypall you have to put money there first and they pay through that for you but, I honestly don't suggest it. So contact the seller or check on the item you won and it will tell you if they except any other payments than paypal.

Answer 4

That is absolutly not true.

If you setup your paypal account using a savings account or checking account you can pay for a ebay auction using paypal and the money will take about 4 days to be charged from your account, but the item will be purchased right away.

You can also setup your paypal account using a ATM card or credit card.

Answer 5

Transfer whatever you THINK you'll be spending (set a limit) OR Paypal can be directly linked to your check book and the money from your check can go straight to your seller. It doesn't get automatically come out of your paypal unless you accept the payment on your invoice once it's sent.

Answer 6

After your bidding is done, you just have to pay online from ebay by 3rd party company "paypal" as you complete your credit card details. I don't think you really need to contact paypal.

I suppose.

Answer 7

Yes, you wait to receive the product back before giving the refund. Think of yourself as a virtual Wal-Mart. Would Wal-Mart give you a refund without a product? Once they get the product back to you, make sure it is in the same order you sent it to them, then give them the refund. To give the refund, go into PayPal and select the original transaction where you got paid and select "Give Refund"

Answer 8

Sign up for both Ebay and pay pal and follow the directions if you can't follow directions you don't need to use ether I know that may sound mean but it's your money and you can lose it real easy.