receiving paypal payments
 

When receiving a paypal payment, how does one actually get the money into their bank account?

Re: receiving paypal payments
 

It goes into the PayPal account then you transfer it to your bank account or use it to make purchases using PayPal.....Mark

Re: receiving paypal payments
 

You will need to supply PayPal with your bank account info and routing number. I set up a separate account just for PayPal and only keep a few dollars in the account.

Re: receiving paypal payments
 

62pan got it right, set up a new bank account for just paypal. Keep a couple bucks in it. You won't regret it.

Re: receiving paypal payments
 

i usually just leave the money at PP, because it just disappears when i buy other stuff. i believe you can also request a check, however it takes a couple weeks

Re: receiving paypal payments
 

Be careful though. About 3 years ago I opted to have a client who lives in the Midwest send me 12 grand on payment of a cabinet job for his island getaway. Super cool guy, a surgeon. All that was great. Then I went to transfer the $ to my business account so I could pay my employees and suppliers etc. Paypal would only allow me to take 1000.00 of it per month out of the account. I tried and tried to reach someone by phone. (Paypal isn't in the yellow pages). I finally got through to somebody online and they gave me 3 options to get my money out of thjeir account. The least invasive one was telling them my online keybank username AND password. WHAT? Now they are ME. I just couldn't believe it. I did that and then changed both. I got my money finally, but think of the interest they stood to make on MY money. I still use it for buying some car parts, but not much.

Re: receiving paypal payments
 

I'm just like cas3: make a nice ebay sale, get paid with PP. Then it goes right back out again for parts.

Re: receiving paypal payments
 

Well, probably not near what you're thinking. On an extra account that you might use for PayPal, you can only expect to receive 'savings account' rates, which today average roughly 0.05% APY. Have you ever figured out what ONE TWENTIETH of ONE percent amounts to, even on $12 grand? Comes to about $6 bucks a year. You have to invest (wisely) that money somewhere besides a savings/checking account to even hope for some significant 'interest'. $12K INVESTED in the right places three months ago might have just paid you back a few bucks, though.


Believe me, I appreciate the reason for your post....it sucks, the way those guys operate sometimes. It can be a handy service at times, but I've heard far too many 'hen-house' stories about that operation, and reason-enough why I have NEVER had anything to do with that bunch. DD

Re: receiving paypal payments
 

I've had PP for about 14 years. I do not like their politics but, I do like the way the money moves.

It is the safest transaction I know of, that is FREE. Yes, it's hard to get a hold of them :( but, I have never lost any money, using this service.

I just turned down a $200 deal, because the guy wanted only MO or certified check and wouldn't take PP (it was on HAMB and they recommend PP). He live in OH and I'm OR so, if anything happened I would have be SOL! I hated loosing the deal but, I still do have my $200.

Re: receiving paypal payments
 

Ditto for me too. I've had PP for ~ 10 yrs and really like it for buying and selling on the internet. I've never had any major issues with them whatsoever. I don't like giving them, or anyone, my bank acct info, or even setting up a separate bank account for that. I did, at one time, let it build up too high in $'s, but used it for some major purchases on line, and now keep it at a much lower $ amount.

Re: receiving paypal payments
 

Remember checks? (Cheques). They have your bank account sort code and bank account number on them. That's how the recipient's bank knows which account to take the money from.
So I don't think it's too much of a problem to give out those numbers. It's your passwords and log in details, pin numbers etc that are sensitive.
That's my understanding, anyway, unless I'm missing something.
Mart.

Re: receiving paypal payments
 

DD let me know were you are banking so I can invest there - My retirement fund is in international infrastructure Ports, Airports and property ie backed by physical objects which traditionally has meant less return but more safety than perhaps shares . In the last 4 months I have lost 15% of it- its climbing back but still a long way from pre COVID levels -Luckily at 56 I hope not to need it for a few more years.

Re: receiving paypal payments
 

I do not use Pay Pal. When dealing on the H.A.M.B. I use one of two things, U.S. Postal Money Order or cash in person. If a person does request I will send them a personnel check which is not often. I have both bought and sold on there and when the U.S. Postal Money Order comes I go to the bank, cash it and send the item that day and expect the same. I will not buy from a new member or even an old member that has a low post count without checking them out in their profile. I have even sent other members I know a PM and checked them out. Never have had an issue and do not anticipate one. If I do I know that Ryan will help in any way that he can which is contact the individual and find out what the issue is. Yes there are scammers everywhere and between him and Moriarty they police things pretty well.

Re: receiving paypal payments
 

I use PayPal almost daily with never a major issue. Even use it to transfer money between family members. When you are a buyer there is a degree of protection. When your a seller that can work against you, but that's the way it works. I tend to not deal with sellers that don't use PayPal, just too much chance for problems.

Re: receiving paypal payments
 

Postal MO are a PITA if they get lost in the mail. Two got lost for me one day, seller never got them. One of the two got back to me two years later. The other never got back to me. You better have saved the receipts if you want to get your money back. They also charge a fee to get a refund. You wait 6 months to get the money back BTW, talk about customer service. If someone wants me to send a PMO I send them a personal check and tell them to wait until it clears or send them paypal. Postal MO, no thanks. If someone wants to send me a MO, OK, the risk is on them for PITA government "customer" service.

The other problem with PMO is you have to deal with the idiot postal workers. Went to PO to mail package, the postal worker sells me a label and it comes back to me should have been priority mail instead of 1st class. No refund for postal workers mistakes.

Re: receiving paypal payments
 

I had good luck with PayPal and used it often, especially when buying on eBay since 1999.
Then about five years ago a scammer was going to get a virus out of my TV over the internet.
He wanted to be paid first by PayPal.
When I tried to pay him PayPal called me and said they had dealt with him before and that he was a scammer.
To make sure I didn’t deal with him they cancelled my PayPal account. That was about six years ago.
Now anytime an eBay seller has something I want and only takes PayPal I gotta forget it.
I have bought maybe two items on eBay in the last five or more years, maybe one, because I have no PayPal account. Up until they shut me off I had 100% feedback and 250 dealings.
Life’s a beech, and then you die.

Re: receiving paypal payments
 

a virus in your tv?

Re: receiving paypal payments
 

I have never had any of those experiences and yes I do save the receipts. I am from a small town rural WV and our postal workers are all local people, we all know one another. Maybe in a city you have those issues but I never have.

Re: receiving paypal payments
 

I like PP and use it often. Once and a while the customer forgets to send it friends and I get charged the fee which on some of my products can be substantial. I just contact the customer and they usually send the fee. I also have a separate bank account just for PP and it's not my main account. I like mrtexas have had some bad experiences with PMO's. Usually when I tell the seller my business they take my business check and hold the product until it clears which is fine.

Re: receiving paypal payments
 

Nothing but good experience with PP since 2008 when I signed up. Tied it to my bank account; never an issue. I have a very good password, and never save them on the computer. I prefer to login/out each time. The way I travel sometimes PP makes it very easy to order parts on Sunday and have them at my doorstep on Friday when I return. The MO is a PITA as my post office never has over one guy working and the line to see him is always out the door.