Need Help With Paypal. How does it work?

[bobbledude25]

Allright guys I am new to this Paypal thing with ebay and I don't understand how it works. I have signed up with Paypal and everything is okay with my credit card so I have a valid account now. I just don't understand the process with ebay. Say someone wins an ebay auction from me...then they have to send me money right?. Then what? how do I know I got the money etc? I know there's something with email addresses but I just don't get it. Maybe I haven't read enough about it but could someone please help me out? thanks

[Katuluu]

Ask Patrick. I hear he is a wiz with this whole Web 2.0 thing.

[stoutdude04]

Paypall will send you an email, saying something like you have received $$$ such and such dollars from so and so. Usually I contact the person I am buying or selling from. Not always needed. But when you recieve the money from paypall, usually send the person that won a message that you received their money and will be sending it out soon enough. Also, on your ebay auction, make sure that you put that you only accept paypall.

[bullox]

bobbledude, stoutdude, dude. I need a dude name to be in this thread. Anyway.

 

Log in to your paypal account to verify that the money is received after you get the 'money sent' email. You can link a bank account to paypal and that will allow you to directly transfer the funds from your paypal account to your bank account, which takes about 3 business days. If you don't want to do that, you can have paypal send you a check. That takes about two weeks.

[gypcasino]

Usually I contact the person I am buying or selling from. Not always needed. But when you recieve the money from paypall, usually send the person that won a message that you received their money and will be sending it out soon enough.

Right, and their name and address is included with the e-mail. If you respond to the PayPal e-mail, it goes to the person that sent you the money. I always respond and say something like "thanks for your payment, your item will be in the mail tomorrow." Also, electronic transfer of funds from PayPal to your bank account doesn't cost you anything. Another thing is that if someone pays you by PayPal and they're using a credit card you have to have a merchant account. With this type of account PayPal charges you a small percentage of every selling transaction.

[1992casey]

When I receive relatively small amounts of money, I don't even bother to transfer it out of my PayPal account. PayPal will use that money before your bank account or credit card the next time you buy something.

[bobbledude25]

Allright guys thanks for the help...now do you have to be "verified" to be able to accept and receive money? I just hooked my account up to my savings account and it said wait 3-5 days for a password to be verified. So I can't do anything until then right?