1) I found an item on ebay that I would like to purchase, however they only accept paypal. How safe is it? I know that paypal is the best method to pay because if something goes wrong and they don't give you your item you can prove it from the recepit, emails etc. (I go by user feedback, and I'm very catious and look at all if any negative feedback for them as a buyer and seller).
2) Also, how does it work? I know I need to create an account with my bank account number, but can I just transfer $10 or so to my paypal account from my checking account and they won't touch anything else in my account.
3) If I win the bid, how do I transfer my paypal money to the user? The user is offering free shipping through parcel mail, so how long would it take to arrive? Any links about time length on packages by type is greatly appreciated.
2007-08-22 23:25:05 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Answer to Question 1: How safe is paypal. Paypal seems safe to me. I have used it for years, connected to both my checking account and my credit card. I have never had an issue with paypal and have only had a few bad transactions in over 9 years on ebay. By the way, paypal is owned by ebay.
Question 2: How does it work? After you have signed up for paypal you usually have options when you go to pay someone. You can pay from an existing balance in paypal (I never do this, I never keep any money there). You can pay from a bank account (I do this all the time). They only remove the amount of money from your checking account that you ok. If your ebay item is $3.55 with shipping then paypal takes out $3.55. You don't need to put $10 or $20 in the account at a time. You can pay via credit card. Again, you are only charged however much you need to complete the transaction.
Question 3: How do I transfer funds via paypal after the auction. In almost all auctions where paypal is a payment choice you can click on a button to pay for your auction. One of the choices (or in some cases where the seller only takes paypal) you are directed to paypal from ebay. Paypal and ebay are linked and the the auction information comes up automatically. You are asked to verify shipping and payment information and when ready click the pay button. You get an email receipt and a record is stored in your paypal account. It is really easy. It was a fantastic addition to ebay because there is less time lag between auction end and the buyer getting their money and you getting your item.
2007-08-23 10:13:26 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
It is TOTALLY safe. Paypal is basically the middle-man for many websites, including Ebay. Paypal has your credit card and/or account information...
Say you found something you wanted to purchase and you did. Ebay would then tell paypal to take out the correct amount of money from your account... then deposit that money into the seller's account.
The major advantage to Paypal is that you aren't giving anyone your credit card number. It used to be that you had to directly give a person/business your money in the form of money transfer/credit card to be able to buy anything. Now, no real people see your information.
I personally will only trust Paypal.
I hope everything goes well for you!!!
2007-08-22 23:38:53 · answer #2 · answered by ❁Niki 5 · 0⤊ 0⤋
NOT SAFE AT ALL
Please, be very careful with Paypal, they hijack customer's money for 180 days
so they can day-trade it and put the profit in their own pockets.
So they usually use "Money on hold" or "suspicious activities" as an excuse to use their customer's money.
Please check this out, and please notice that they advertise another product. Since I don't know this product and I don't know anyone who does you should distrust it too.
If you have a complaint, it doesn't hurt that you write it here:
http://www.paypalwarning.com
http://www.paypalsucks.com
This is a blog, former Paypal employee speaks:
http://paidpal.blogdrive.com/
Good luck and please let other's know about these obscure practices.
Hopefuly somebody in the congress will help the people who are being affected by this monopoly.
2007-08-23 15:09:58 · answer #3 · answered by hamptons0017 2 · 0⤊ 0⤋
do NOT use it... paypal claims that they will not attempt to withdraw from your bank account for anything other than what you paid for but THEY DO. and also they hold your money for 180 days to make profit off it and accuse you of "suspiscious activity"
i know both these things because they have done it personally to me.
stay away from them if possible.
2007-08-24 22:32:22 · answer #4 · answered by *J 2 · 0⤊ 0⤋
Dont use it
2007-08-23 03:14:12 · answer #5 · answered by Anonymous · 0⤊ 2⤋