I want to start selling on ebay. I have a paypal account and I always buy things off of ebay using my paypal account. When I win an auction and pay for it through paypal, it is taken out of my checking account. Now I want to start selling things on ebay. When someone wins or buys an item from me and pays through paypal, will the money go into my checking account or will it go to my paypal account?
2007-08-17 10:20:24 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
It will go directly into your paypal account. Then next time you buy off ebay, you will be able to pay directly from the funds in your paypal account rather than using your checking account. Or you can withdrawl money from your paypal account to a checking account. This usually takes a few days though.
2007-08-17 10:26:06 · answer #1 · answered by Dj KluP 4 · 0⤊ 0⤋
It will go directly to your Pay pal account and from there you have a few options on how you can withdraw your funds:
1)You can "add a bank account" to your Pay pal account. The bank account being yours of course and then Pay pal has a process in which they go through to verify it. Once it is verified you then become a verified member.
The upside of being a verified member is that some people on eBay will only buy from sellers with a verified pay pal account and of course the ability to transfer your funds out of your pay pal account.
Being verified is suppose to be a better protection for both the buyer and the seller. The downside of adding your bank account and becoming verified is that if someone says that they didn't receive an item that you sold them then Pay pal will then go right back and take the money from your bank account.
Someone that makes a purchase using Pay pal has up to 45 days to file a claim. So if you have no money in your Pay pal account they will automatically deduct it from your bank account while they investigate the matter. If you already spent the money and don't have enough in your bank to cover it then you will end up with an overdraft in your bank account.
2)You can shop on line at any of the stores listed at the Pay pal website or even eBay. Basically anywhere that Pay pal is excepted as a form of payment. Then when you make your purchase you can just have the amount deducted from the money that you have sitting in your Pay pal account.
3)If you have had an account with Pay pal for at least 60days you can apply for the Pay pal debit card right on their site. You do not have to be a verified member to do this. The upside of this is that you can go immediately to an ATM after someone buys something from you and withdraw the funds in your Pay pal account as to with the bank transfer it take 3-4 days. You can even use it wherever visa and master card are excepted. It would probably be a good idea for you to order it now in advance before you sell anything so that you will have it when you do receive funds instead having to order it then. I think this is a good way to go about taking your funds out of your Pay pal account without having to give them your private bank information.
Finally, it is a good idea to remember that when you do start selling on eBay and receiving funds into your Pay pal account that you might not want to keep them in their for too long or have too much money sitting in there. Pay pal has quite a history of freezing peoples funds and not giving them back. They usually don't or won't even give you a good reason for doing it. If this happens not only will you not be able to access you Pay pal account but you will not be able to sell on eBay either and you will lose all of your money that was in your Pay pal account. It could either be taken from you permanently or the funds could just be frozen for a long period of time.
2007-08-17 13:38:19 · answer #2 · answered by girrl4riverside 2 · 1⤊ 0⤋
It goes into your paypal account. You can request the funds be transferred to your checking account. You can also request a paypal debit card that can be used like the debit card you probably have for your checking account.
2007-08-17 12:46:47 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
The money will be credited to your PayPal account and then you have to direct them to transfer it to your checking account. You go girl, I love eBay!!
2007-08-17 10:24:35 · answer #4 · answered by Cheryl M 2 · 2⤊ 0⤋
The money will go directly into your paypal account.
2007-08-17 10:24:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The money will go into your paypal account up to 1000. dollars.
Then you will have to open a business account.
You can transfer funds from your paypal into your checking, but it takes about two to three days.
2007-08-17 10:28:41 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Straight into paypal
2007-08-17 10:24:02 · answer #7 · answered by Anonymous · 0⤊ 0⤋
it will go to paypal. if you want you can buy stuff on ebay and use that money or simply request your money and it will be sent to your bank account. but you have to be verified
2007-08-17 10:30:30 · answer #8 · answered by el doyer 2 · 0⤊ 0⤋
From paypal you can transfer it to your account.
2007-08-17 10:26:21 · answer #9 · answered by Zujiya 2 · 1⤊ 0⤋
it is deducted from paypal first if you don't have enough funds there then the remainder is taken from your bank account.
money go's into paypal account, if you want it sent to your bank you must request a transfer to that bank account.
2007-08-17 10:30:02 · answer #10 · answered by Jan Luv 7 · 0⤊ 1⤋