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07-21-2020, 04:40 AM | #1 |
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receiving paypal payments
When receiving a paypal payment, how does one actually get the money into their bank account?
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07-21-2020, 06:13 AM | #2 |
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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
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07-21-2020, 06:17 AM | #3 |
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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.
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07-21-2020, 08:22 AM | #4 |
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Join Date: May 2010
Location: Oakmont, Pa (Longwood)
Posts: 297
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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.
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07-21-2020, 10:50 AM | #5 |
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Join Date: Jan 2011
Location: sw minnesota
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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
Last edited by cas3; 07-21-2020 at 10:53 AM. Reason: add |
07-21-2020, 01:28 PM | #6 |
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Re: receiving paypal payments
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Owner/Operator of 'Jailbar Ranch' on the side of Mt. Pickett. Current stable consists of 1946 1/2 ton pickup turned woodie wagon with FH V8, 1947 Tonner Pickup (red) mostly stock with exception of a cummins 6at turbo diesel, 1946 Tonner Pickup (green) with 226 cu in 6 cyl flathead, 1979 Toyota landcruiser wagon, completely encased in 1947 Ford Jailbar sheet metal. Ok, cornbinder rear fenders..... 'Rusty ol' floorboards, hot on their feet' (Alan Jackson) |
07-21-2020, 02:33 PM | #7 |
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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.
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07-21-2020, 04:02 PM | #8 | |
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Join Date: May 2010
Location: East Shore of LAKE HOUSTON
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Re: receiving paypal payments
Quote:
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 |
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07-21-2020, 04:45 PM | #9 |
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Location: Southern Oregon
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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.
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07-21-2020, 05:20 PM | #10 |
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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.
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07-21-2020, 06:02 PM | #11 |
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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. |
07-21-2020, 06:12 PM | #12 |
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Location: Manawatu, New Zealand
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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.
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07-21-2020, 06:52 PM | #13 |
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Join Date: Jul 2020
Location: Cameron WV
Posts: 59
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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.
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07-21-2020, 07:47 PM | #14 |
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Join Date: Nov 2012
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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.
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07-21-2020, 09:51 PM | #15 | |
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Re: receiving paypal payments
Quote:
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.
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07-22-2020, 02:43 AM | #16 |
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Location: Hayward,CA
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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. |
07-22-2020, 08:57 AM | #17 |
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Location: Oakville Ontario
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Re: receiving paypal payments
a virus in your tv?
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07-22-2020, 09:26 AM | #18 | |
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Join Date: Jul 2020
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Re: receiving paypal payments
Quote:
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07-22-2020, 10:30 AM | #19 |
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Join Date: May 2010
Posts: 4,429
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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.
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07-22-2020, 11:36 AM | #20 |
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Join Date: Feb 2017
Location: Dothan, AL
Posts: 325
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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.
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07-22-2020, 12:17 PM | #21 |
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Join Date: Dec 2013
Location: Minnesota, Florida Keys
Posts: 10,259
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Re: receiving paypal payments
A couple of tips I will offer about PayPal. The first may be obvious, but it should have it's own email account; don't tie it to your regular email account. Second you should ensure that your PayPal username does not contain any "confusing" characters. By this I mean "1"'s and "I"'s, "O"'s (ohs) and "0"'s (zeroes); anything that makes a typo possible. Paypal, in it's infinite wisdom, does not edit payee names against their own internal data. If someone makes a typo (types a"1" vs. an "I"), the payment will be accepted and goes into limbo. In this case, you have to contact the payee, have them cancel the payment, and then resend it to the proper username. I had this happen to me several times and it's a hassle to get your money. I have since changed my username to a very unambiguous one. It's their suystem; why can't the edit their own usernames? I started in the computer business in 1965, and we did it back then. I think that at any one tome they have a bunch of money floating around in this particular limbo, and they are operating on the "float".
Having a separate bank account is also a good idea. It can also be used if doing wire transfer, etc. so everything is isolated. |
07-22-2020, 01:12 PM | #22 | |
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Join Date: May 2010
Location: East Shore of LAKE HOUSTON
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Re: receiving paypal payments
Quote:
Karl....I KNOW that you know better. BANKS are not usually where you invest. That was my point! As some of us know, the worldwide market began to take a hellacious dump beginning in mid February due to the cootie-bug virus. Tumbling oil prices didn't help matters, and by the latter part of March, me and Momma had lost an obscene amount of cash on paper. I'd like to BELIEVE that I was smart enough NOT to cut my losses by cashing anything in. Here we are three to four months later and things have come-back swimmingly to a point not too far removed from where things went south. My point was merely that had a guy invested that $12 GRAND wisely (not the bank) in late March, he could have easily made 30+ percent on his investment by now. We ALL need to remember though that real INVESTMENT involves some risk. That is particularly true when you invest in a life insurance policy. You risk some serious death before there will be a significant return on your investment. DD |
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07-22-2020, 02:31 PM | #23 |
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Join Date: Jul 2020
Location: Cameron WV
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Re: receiving paypal payments
I frequently get e-mails that tell me my Pay Pal account will be locked if I do not respond. I do not have any account with them and have heard of too many scams with Pay Pal so I will not have it. Same as Face Book. No need for all of the the drama.
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07-22-2020, 02:44 PM | #24 |
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Join Date: Feb 2020
Location: Hayward,CA
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Re: receiving paypal payments
54Vickey,
You know old guys get their mix talked up sometimes. I meant virus in my computer. At least now I know somebody is reading my posts. |
07-22-2020, 03:22 PM | #25 | |
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Join Date: Jul 2019
Location: Southern Oregon
Posts: 782
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Re: receiving paypal payments
I really dislike MO's!!! And won't use them. I do send cash in the mail if, it's under $50, rather than a MO.
I fail to see how people can justify requiring a MO on HAMB when HAMB's official policy is this: Quote:
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07-22-2020, 03:23 PM | #26 |
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Re: receiving paypal payments
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07-22-2020, 03:53 PM | #27 |
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Join Date: Aug 2012
Location: Takoma Park, MD
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Re: receiving paypal payments
There are other options, like Venmo (owned by PayPal) and Zelle, which I have never used. The biggest problem with Venmo is that there is a maximum amount that you can transfer. No fees, either, unless you want to transfer to your bank account immediately.
Venmo is great for face-to-face transactions. I sell stuff on Craigslist all the time and Venmo is a good option. I also use PP often on eBay, but also transferring $ within the family. Pretty painless, except when there are fees.
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07-22-2020, 04:55 PM | #28 |
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Re: receiving paypal payments
Several years ago I was high bidder on a 1960 Corvette located in Northern Illinois , the seller required a $1000 dollar deposit and full payment in 3 days . I used Pay Pal for deposit and because I live in Southern Illinois hooked my truck and trailer up and drove up to sellers home much to his surprise . The car was a total misrepresentation , the body was mounted on a 1953 Chevrolet frame and went down hill from there . I told seller I was not taking car and asked for my deposit back , he said he would think about it ! Seller would not return deposit , I went to Pay Pal and Ebay asking for help , neither one would help me , I gave seller a bad rating only to have it removed by Ebay , my only consolation is that I didn't send all the $ and have that junker sent to me .
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07-22-2020, 07:24 PM | #29 |
Member
Join Date: Jul 2020
Location: Cameron WV
Posts: 59
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Re: receiving paypal payments
I fail to see how people can justify requiring a MO on HAMB when HAMB's official policy is this:
Quote: Hey guys, we continue to have issues with a scammer here in the classifieds. I recommend two things to keep your buying experience safe and free of fraud: 1. Do not pay for anything by money order or check. Stay safe and use PayPal. It's really the safest way to buy anything over the internet. I do not know about "Official Policy". Maybe a recommendation, along with the low post count members. I have been on the H.A.M.B and just recently registered here. I would not attempt to sell or buy anything until I have been here for awhile and then send a PM and talk to the seller or buyer either via e-mail or on the phone. |
07-23-2020, 01:24 AM | #30 |
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Join Date: Jul 2019
Location: Southern Oregon
Posts: 782
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Re: receiving paypal payments
You might note the verbiage in his statement, it's not don't or shouldn't, it is "do not".
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Frank '35 Ford Model 51 '48 Ford F3 '54 Ford Tudor Mainline |
07-23-2020, 08:49 AM | #31 |
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Join Date: Jul 2020
Location: Cameron WV
Posts: 59
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Re: receiving paypal payments
I "Do Not" feel safe with my money in a system that I do not trust. U.S. Postal Money Orders are protected by law in that money sent for nothing in return can result in Federal Law Violation charges, U.S. Mail Fraud.
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07-23-2020, 09:54 AM | #32 |
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Re: receiving paypal payments
Very interesting, I use PayPal almost daily and have never encountered any of this.
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07-23-2020, 10:11 AM | #33 |
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Join Date: Dec 2013
Location: Minnesota, Florida Keys
Posts: 10,259
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Re: receiving paypal payments
It's called "Phishing".
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07-23-2020, 11:47 AM | #34 |
Member
Join Date: Jul 2020
Location: Cameron WV
Posts: 59
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Re: receiving paypal payments
Possibly because you have it. I do not and it is my choice. As long as both the seller and buyer are satisfied with the end result is the main issue. I sold a three speed floor shifter to an individual on the H.A.M.B and requested the U.S. Postal Money Order. The day it arrived I cashed it and sent the item the same day. It arrived and was as I had described it so he let me know that he had got it and was happy. I had my money and all was good in the world. All of this after we discussed that it was new in the packaging and he viewed the picture. He wanted a picture of it spread out so he could view the parts. I initially hesitated to do this as it was still shrink wrapped to the cardboard backing but we had conversed so I removed it from the factory packaging and laid it all out in pictures. I even showed pictures of the installation directions and contents sheet so he could verify it was all there. I never felt as if he was scamming me as the item was discussed in a thread in which I mentioned that I had what he was looking for and to PM me if he was interested. Ryan and his crew do a very good job of policing and keeping things in line and they cannot protect everyone only issue guidelines to attempt to protect the genuine members. If you would not sell me a part because you do not accept the money order or a check then I move on. Your choice and mine.
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07-23-2020, 01:05 PM | #35 |
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Location: Southern Oregon
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Re: receiving paypal payments
I don't know if it is everywhere but, in my area, the PO "will not" cash one of there own MO's. I have to deposit it in my checking account. They won't do it, even if it is to buy their service, I've tried!
My person belief, the reason they won't cash them, is they are afraid that some are counterfeit. Easy to do in this digital world. And if you think that the PO will tract someone down that has supplied a fraudulent item, dream on. I have beach front property in AZ for sale but, I won't take a MO for it I hope you know I'm joking
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Frank '35 Ford Model 51 '48 Ford F3 '54 Ford Tudor Mainline Last edited by frnkeore; 07-23-2020 at 01:11 PM. |
07-23-2020, 02:10 PM | #36 |
Member
Join Date: Jul 2020
Location: Cameron WV
Posts: 59
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Re: receiving paypal payments
I hope you know I'm joking
Yes I know that you are joking but if I was to buy that property from you I would be there in person. Whatever one chooses to enable a transaction so be it. Be it either a MO, Pay Pal, check, or cash in person. The last one is king and will trump any other form of payment. Ask Rocketron from the H.A.M.B when I showed up at his door above Boston from my home in WV to buy his '55 T-Bird. We had conversed even on the phone and he graciously took additional pictures of the frame and underneath for me to view. Of course final inspection was in his garage but he did not misrepresent and I had cash in hand. |
07-23-2020, 08:51 PM | #37 |
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Location: New Zealand
Posts: 1,110
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Re: receiving paypal payments
Something I did not know ,but on checking PP fees they charge a US seller to a US buyer 2.9% plus 0.30c per transaction . But to us who live elsewhere As a buyer they charge 4.4% and a fee to be determined. Why ? We are contributing to the American economy.
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07-24-2020, 01:46 AM | #38 |
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Location: Southern Oregon
Posts: 782
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Re: receiving paypal payments
Here in the US, they have a "Friends and Family" transaction. If you choose it, there are no fee's, at all.
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Frank '35 Ford Model 51 '48 Ford F3 '54 Ford Tudor Mainline |
07-24-2020, 12:58 PM | #39 | ||||
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Re: receiving paypal payments
I've never had a problem with PayPal as a seller or a buyer, and I've transacted a lot money both directions using it over the last 19 years. It's my preferred method of online funds transaction with individuals.
I have been burned big time as a buyer when using USPO money order to the point where I needed to report the fraud to the Postmaster General. I eventually got my money back many months later. As a buyer, I will never again send a USPO money order (or bank cashier's check) to an individual as payment for an item. Quote:
I've never had an issue extracting >$1000 amounts from PayPal, and I'm not set up as a business account. I have previously in years past verified my address and banking information with PayPal, though. Quote:
Quote:
Quote:
They may be charging that to cover exchange rate and currency conversion costs, or they're being greedy. Perhaps both.
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07-24-2020, 02:31 PM | #40 | |
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Re: receiving paypal payments
Quote:
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07-24-2020, 03:20 PM | #41 | |
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Join Date: Jul 2019
Location: Southern Oregon
Posts: 782
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Re: receiving paypal payments
Quote:
If you use a personal check, the issuing bank HAS to cover it, if there are funds. PO, not so much
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Frank '35 Ford Model 51 '48 Ford F3 '54 Ford Tudor Mainline |
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07-24-2020, 06:34 PM | #42 |
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Location: Minnesota
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Re: receiving paypal payments
As times were changing; I ended up having to run down to the "ghetto" post office to cash higher dollar money orders. They always seemed to have a full cash drawer on Fridays.
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07-30-2020, 08:33 AM | #43 | |
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Re: receiving paypal payments
Quote:
It's also incredibly simple for transactions outside of eBay. You're just being lazy.
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