How does PayPal work?  Thanks.

Basically,  you set up an account with Paypal tied to your bank account.  It revolves around you e-mail address.  You can actually send money to an e-mail address as long as they have paypal as well.

I don't like them because they have a terrible stance when it comes to firearms and anything related to firearms.

Doesn't it work through your credit card?

Quoted: Doesn't it work through your credit card?

It can work as a back-up or primary source, yes.

Quoted: Doesn't it work through your credit card?

Like tactical Jew said,  yes it can,  it can also provide back up funds if your checking account can't cover your transfer.


Go check out Paypal.com for more details.

PayPal is a bank that lets you transfer funds from your account directly to another person's account which is identified by their email address. The transfer happens instantly and the recipient is notified that the funds have been transferred, so you can pay for goods or just send cash in a few minutes.

I think the credit card thing is limited unless you use a PAYPAL credit card. You just transfer funds from another bank account electronically. PayPal pays interest on the money in your PayPal account. And of course you can transfer funds OUT of your PayPal account as well.

It can work through your cc. It's been so long since I've registered that I don't remember the procedure.
When I first launched my account, I started with a cc. At the time, I think I was restricted to a $1000 limit for each 6 month period. To avoid the cap, I set up my account with bank checking accounts. This procedure verifies you.
You'll still be able to still use your cc to pay, but you have the option of paying through your checking account as well. Some eBay  sellers will only allow confirmed Paypal users to bid on their auctions.

Ok, here's the deal

First you have to register with an email addy as login name. That will be your PayPal address.

In order to send payments, they offer 3 choices:

1. via ANY credit card (when you send a payment, your CC gets charged)
2. via checking account (your PayPal account is linked to your bank account, so when you send payments, it gets debited from your regular bank account)
3. via direct transfer, if you have money on your account from someone else's payment.


To receive payments, you have two choices:

1. with a regular account, you can only receive payments made by people who funded that payment via checking account or direct transfers. NO CC based payments at all. No fee for receiving this.

2. accept all kind of payments, including CC funded, but with a fee of 3% for ALL payments received, even if they're not CC funded.


Once you register, if you decide to add your credit card, they will ask all your data and will change your card with a $1,95 charge. Once you get the monthly statment, you'll see a 4 digit code next to it. You have to log in into PayPal and fill in a blanck with that code, and then (not before) you'll be able to use your credit card to send payments. Once you do this, they'll credit you that $1.95 in your account.

If you decide to link your bank account, PayPal will deposit 2 bizarre amounts on it and will ask you to provide them those ammounts on a form. Once you do that, you're good to go with payments based on your banking account.
If you do this, even if you don't use it to fund your payments, you'll become a VERIFIED user, meaning that you'll be able to send as much money as your bank/CC allows you.


Now, once you have money in your account and want to use it, you have several ways to get your hands on it, I don't remember all, but this is a good start:

1. use that money to pay something you bought. (free of charge)
2. get a paypal debit card and use it in your everyday life as a regular debit card, but instead of being linked to you bank, it will be linked to your PayPal account. (free of charge)
3. make a withdrawal to your bank account (free of charge)
4. Request a check to be send to you (there's a fee, I don't remember how much)

Other thing, since the Fraud proteccion program only woks if the seller ships to the registered address, many sellers won't ship to other than your address.
This pretty much covers it.

If you're not on the US, you might not be able to receive payments or use your bank account to fund payments and they will charge you to make a withdrawal, but I don't think you care much for that

NsB

I've never used paypal, always send A MO.
AB