paypal?

[Lucy In The Sky...]

I'm not sure if this goes here or not...buuut, how exactly does paypal work? I wanted to buy something off someone from here but they only accept paypal. I made an account...but now I don't know what to do...can anyone help me out with this? I'm lost...

 

[user3]

typically(at least on here) people only accept instant transfers so you will need to set up your bank account with paypal. It's called getting verified.

When you go into your account in the Overview area on the left you will see an option to add a bank account. Once you add the account you will get 2 small deposits into your bank account from Paypal. Both under $1. It might take a few days for them to do the deposits. Once you get the deposits you go back to your paypal and put in the amounts they deposited. This shows them that you have access to that bank account.

Now you will need to add the amount you want to pay the person. Go to add funds and it will transfer money from your bank account into you paypal account. It does take about 3-4 business days. Now I have never done the "send money" without having money in my pay pal account so maybe someone else can help you with that area.
I am not even sure that is possible...I think it goes through like a check if you do it w/out money in your paypal account.

 

[mspixieears]

When someone pays you via PayPal, it sends the amount to your PP account and displays a balance. This can either be used to pay for things, or you can have it sent to your bank account.

When you want to pay someone and have no funds in your actual PP account, what happens is this somewhat complicated process whereby you end up sending someone an e-cheque.

So, I'm in Australia. I want to send 'Nessa 10 USD. This is what happens if my PP balance is zero:

1. calculates how much AUD will make 10 USD.
2. informs me that they will be deducting, e.g. 15 AUD from my bank account
3. they take out the money, convert to USD
4. it goes through and the amount is no longer in my bank account.

***like real cheques, e-cheques I imagine could bounce, you have to set aside the amount you will be paying because it takes it out of your bank account at the last minute when the conversions are finalised.

If I had 10 USD in my PP account already, and I sent that to Nessa, she'd get the amount immediately. No waiting, no currency conversions etc. and you can have PP balances in more than one currency I think.

I don't know how it works with credit card accounts, I've only got a personal PP acct. It's a little complicated at first but not too difficult, hopefully.

 

[Lucy In The Sky...]

thank you both for helping me out with answers, they really did help!