umm... hows paypal work? yes I'm serious
- Thread starter mr ryles
- Start date
You start a Paypal account. You link it to a bank account. Paypal puts 2 small deposits into your account to make sure you own it. You go to Paypal.com and type in the amounts they deposited. That verifies your account.
At that point, since it is linked to your bank account, whenever you send money to someone, it deducts straight from there. It makes paying for trades/eBay auctions a lot easier.
Really the downside is that Paypal, as a company, is a bastard organization run by idiots, hacks, and people all attempting to be as unhelpful as possible while still getting huge profits because of their interest rates.
At that point, since it is linked to your bank account, whenever you send money to someone, it deducts straight from there. It makes paying for trades/eBay auctions a lot easier.
Really the downside is that Paypal, as a company, is a bastard organization run by idiots, hacks, and people all attempting to be as unhelpful as possible while still getting huge profits because of their interest rates.
[quote name='Strell']You start a Paypal account. You link it to a bank account. Paypal puts 2 small deposits into your account to make sure you own it. You go to Paypal.com and type in the amounts they deposited. That verifies your account.
At that point, since it is linked to your bank account, whenever you send money to someone, it deducts straight from there. It makes paying for trades/eBay auctions a lot easier.
Really the downside is that Paypal, as a company, is a bastard organization run by idiots, hacks, and people all attempting to be as unhelpful as possible while still getting huge profits because of their interest rates.[/QUOTE]
and they take about 5% of every transaction. I hate them with a passion. The funny thing about paypal is that my friends uncle helped build it. My friends uncle works for GE and he and some others built and designed the site and he doesn't even like it.
At that point, since it is linked to your bank account, whenever you send money to someone, it deducts straight from there. It makes paying for trades/eBay auctions a lot easier.
Really the downside is that Paypal, as a company, is a bastard organization run by idiots, hacks, and people all attempting to be as unhelpful as possible while still getting huge profits because of their interest rates.[/QUOTE]
and they take about 5% of every transaction. I hate them with a passion. The funny thing about paypal is that my friends uncle helped build it. My friends uncle works for GE and he and some others built and designed the site and he doesn't even like it.
Remember kids, Paypal froze an account created by SomethingAwful.com when it raised 30K in the span of a few hours for Katrina disaster relief, and despite Lowtax faxing in all sorts of information to prove his innocence, and despite Paypal's bullshit reasoning for freezing the account to begin with ("We got complaints your product was defective"), and despite that SA.com had done charitable things in the past without any negative reactions, I guess Paypal thought it had a valid reason for keeping thousands of dollars out of the hands of needy hurricane victims.
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.
[quote name='Strell']
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.[/QUOTE]
come one everyone start the chant.
Strell for president Strell for president Strell for president Strell for president
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.[/QUOTE]
come one everyone start the chant.
Strell for president Strell for president Strell for president Strell for president
adrianchan56
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[quote name='Strell']Remember kids, Paypal froze an account created by SomethingAwful.com when it raised 30K in the span of a few hours for Katrina disaster relief, and despite Lowtax faxing in all sorts of information to prove his innocence, and despite Paypal's bullshit reasoning for freezing the account to begin with ("We got complaints your product was defective"), and despite that SA.com had done charitable things in the past without any negative reactions, I guess Paypal thought it had a valid reason for keeping thousands of dollars out of the hands of needy hurricane victims.
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.[/QUOTE]
Yeap let's make an angry mob gathering full of CAG members around their hq and burn the building.
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.[/QUOTE]
Yeap let's make an angry mob gathering full of CAG members around their hq and burn the building.
[quote name='Strell']
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.[/QUOTE]
I thought Ebay owned paypal. I seem to remember, back when I first started using rightstuf, an annoucment that Ebay did some cuts to security (to lower costs), so they were dropping their support of it.
Uh huh. Really the only site run more poorly than Paypal is eBay. Both tremendously asinine corporations that deserve to burn to the ground by upstarts that actually know how to treat customers.[/QUOTE]
I thought Ebay owned paypal. I seem to remember, back when I first started using rightstuf, an annoucment that Ebay did some cuts to security (to lower costs), so they were dropping their support of it.
I can't believe PayPal still exists.
Anyway, I'll clarify a bit. PayPal does not automatically deduct from your bank account when you send money, you have to actually withdraw money from your bank account, which takes a few days. So if you intend to win an auction and pay with PayPal, make sure you already have money in there or the seller may get angry.
That said, watch out. PayPal will do everything possible not to help you if you are stuck dealing with a scammer. I speak from experience, having lost $250 and an item thanks to PayPal/Ebay's great protection policies.
Of course, I still use PayPal and Ebay, because really, what else am I going to do?
Edit: Oh, and if you're not aware of the SA story mentioned above, it's likely the ONLY reason PayPal actually responded to their queries is because it received a truckload of negative press via /., Fark, and the like. So if you have a problem, don't expect help
Anyway, I'll clarify a bit. PayPal does not automatically deduct from your bank account when you send money, you have to actually withdraw money from your bank account, which takes a few days. So if you intend to win an auction and pay with PayPal, make sure you already have money in there or the seller may get angry.
That said, watch out. PayPal will do everything possible not to help you if you are stuck dealing with a scammer. I speak from experience, having lost $250 and an item thanks to PayPal/Ebay's great protection policies.
Of course, I still use PayPal and Ebay, because really, what else am I going to do?
Edit: Oh, and if you're not aware of the SA story mentioned above, it's likely the ONLY reason PayPal actually responded to their queries is because it received a truckload of negative press via /., Fark, and the like. So if you have a problem, don't expect help
mookiemeister
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[quote name='mr ryles']I've never used paypal in my life and I have just set up a paypal account using my checking account. Just wondering how it all works and if it is trustworthy.[/QUOTE]
If you are using paypal to pay someone, just ask for that person's paypal account (it's usually their email address). Then login to your paypal account, and send payment. You will need to enter the amount field and paypal will deduct the amount from your bank account and send to the paypal account you specified. You won't pay any fee when you send payment, but the person receiving your payment will have 30 cent + 2.9% deducted from the payment if that person has a premier account. If he has a personal account, then he wont be charged any fee.
If you are expecting someone to pay you, just let that person know your paypal account. When the person send money to you, you will loose 30 cent + 2.9% paypal fee if your account is premier. If your account is personal, then you won't be charged any fee.
Paypal is reliable. But you can still be ripped off by the other person. So be careful. Paypal can protect you from some transactions. It's good to read up on paypal protections to know what you are protected.
If you are using paypal to pay someone, just ask for that person's paypal account (it's usually their email address). Then login to your paypal account, and send payment. You will need to enter the amount field and paypal will deduct the amount from your bank account and send to the paypal account you specified. You won't pay any fee when you send payment, but the person receiving your payment will have 30 cent + 2.9% deducted from the payment if that person has a premier account. If he has a personal account, then he wont be charged any fee.
If you are expecting someone to pay you, just let that person know your paypal account. When the person send money to you, you will loose 30 cent + 2.9% paypal fee if your account is premier. If your account is personal, then you won't be charged any fee.
Paypal is reliable. But you can still be ripped off by the other person. So be careful. Paypal can protect you from some transactions. It's good to read up on paypal protections to know what you are protected.
megaseadramon
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Paypal will bend you over the chair and have its way with you.
My story is I send two GBA's to two different people from two different post offices and got confirmation delivery and everything. And yet somehow both of them never got there packages. They filed a complaint with paypal, Which asked for the Confirm numbers. I gave them to them and they emailed me saying there wasnt enough evidence to support that I sent them so the people automatically get there money back. To bad I never authorized it and my account is still frozen. So be careful of who you deal with.
My story is I send two GBA's to two different people from two different post offices and got confirmation delivery and everything. And yet somehow both of them never got there packages. They filed a complaint with paypal, Which asked for the Confirm numbers. I gave them to them and they emailed me saying there wasnt enough evidence to support that I sent them so the people automatically get there money back. To bad I never authorized it and my account is still frozen. So be careful of who you deal with.
Skylander7
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The whole verification thing takes some time... so if you're in the process of winning an auction, I'd get it as soon as possible. I've had to show alot of people how to use/setup a Paypal account after they've won an auction, which will aggrevate some anal sellers. Also, if you plan on using it for selling, get a Paypal debit card. A paypal to bank account transfer of funds takes a few days, and you have instant access to your funds with the debit card.
bread's done