2007-09-10 04:56:14 · 3 answers · asked by sasan 1 in Business & Finance ➔ Credit
If you use paypal and someone buys something from you, it will appear as an immediate credit as soon as they use paypal to pay you.
2007-09-10 05:03:37 · answer #1 · answered by TropyWife 1 · 0⤊ 0⤋
Paypal establishes an account in your name -- it must be tied to either a current credit card, or checking account (debit card).
When you buy something, PayPal makes a charge to your credit card (just like a store purchase). The money then gets transferred by them into the sellers PayPal account.
If you are the seller, they still need your bank account number. If you want the cash, rather then spend it somewhere else online, they 'will' deposit it into your bank account, but it takes several days (and there may be a fee).
They (PayPal) would rather that the funds sit in your account as a credit (funds available) for you to spend somewhere online.
They do charge SELLERS a fee, although the service for BUYERS is free.
However, it is a very safe way to make online purchases. For example, individuals selling things on eBay generally can't take a credit card, nor do you want to share your credit card or bank account numbers with them. PayPal keeps that safe, but not sharing those account numbers.
2007-09-10 05:07:56 · answer #2 · answered by Sue 5 · 0⤊ 0⤋
Soon as you get the email message that 'You have Cash" you go in to your account and transfer it to your bank account, which takes about 2 days. Maybe 3 if there's a weekend.
Paypal has info on their site explaining the whole process.
2007-09-10 05:27:42 · answer #3 · answered by Elaine M 7 · 0⤊ 0⤋