Topic: PayPal Questions

Hello,

I'm looking to sell a few cards through PayPal but have a few questions. When selling will I be notified of someone sending money/do I need to request money? Will there be a fee for selling through PayPal, if so, what is the preferred method of exchanging money? What sort of information needs to be provided?

Sorry for asking some newer questions, I'm just looking for some concise answers from beginning to end of PayPal. I already have an account, but I am very curious as to how I can use this for future transactions. Thanks for any help

Re: PayPal Questions

Q1: You will be notified via email that money has been added to your paypal account to which you can then transfer to your bank account or leave there and use like credit.

Q2: If people send money to you via Paypal gift, there is no charge to either buyer or seller. However doing it this way means that paypal is then not responsible to reimburse should a problem arise. If the money is sent via Paypal service, the seller is usually charged a 4% percent fee based on the total in order to recieve the money. The later is how eBay sales are often facilitated.

Q3: Once a price is agreed upon, the only thing you as the seller need to provide to the buyer is your paypal user name, which is usually your email. Depending on how they send (paypal gift or service) will determine how long it takes to process and get deposited to you (paypal gift takes 5 minutes where service can take about an hour)

Hope this helps.

Profile - Haves - Wants

Re: PayPal Questions

There are a few options which change the fee structure, access to funds, and may affect others' willingness to send you money.

First, you need to set up a paypal account (it sounds like you already have one).  You need to provide some basic info to paypal here, name, address, etc. 

Once you have a paypal account, you will be notified by email whenever someone sends you money...sometimes the emails are slow or get caught in spam filters, so you could always log in to your paypal account and check.  The money sits in your paypal account as "paypal funds" until you spend them or become verified.

You can link your bank account to paypal to make yourself "verified".  Here you are providing additional info to paypal including bank account details.  The benefits of being verified are 2-fold:
1) it allows you to take the money out of paypal, rather than letting it sit there until you are ready to buy something using paypal.
2) Many individuals will refuse to send you money if you are not verified (since you could be using totally fictitious info and running a scam).

The second set of options arises when making a payment arrangement.  There are basically 2 options:
1) Someone sends you money as a gift, if they pay with a credit card, the sender will pay a fee, there is no fee if they pay with funds in their paypal account or from their bank account.  Some people will be willing to send money as a gift, some won't as this leaves the sender little recourse if the receiver wants to scam them...they could pursue legal action or charge back their credit card, but could not get a refund directly through paypal.
2) Someone send you money for goods or services.  Then the receiver will pay a fee, and should send the product with delivery confirmation.  Paypal will mitigate any disputes between the sender and receiver.

The fees get smaller under 2) above if you sell a lot and are verified.

Re: PayPal Questions

Helios52 wrote:

Q1: You will be notified via email that money has been added to your paypal account to which you can then transfer to your bank account or leave there and use like credit.

Q2: If people send money to you via Paypal gift, there is no charge to either buyer or seller. However doing it this way means that paypal is then not responsible to reimburse should a problem arise. If the money is sent via Paypal service, the seller is usually charged a 4% percent fee based on the total in order to recieve the money. The later is how eBay sales are often facilitated.

Q3: Once a price is agreed upon, the only thing you as the seller need to provide to the buyer is your paypal user name, which is usually your email. Depending on how they send (paypal gift or service) will determine how long it takes to process and get deposited to you (paypal gift takes 5 minutes where service can take about an hour)

Hope this helps.

Would you recommend having the buyer send the gift first before selling? Thank you for your answers, it was exactly what I was looking for

Re: PayPal Questions

I would expect to have the buy send via paypal gift FIRST before actually sendint the cards if that is what you mean. You should make it clear that if your expect payment via paypal gift unless the buyer wants to then also cover that other fee to make sure they are covered. Most people however that sell cards on sites like this (read non-commerical sites like eBay) are ok with using gift since the transaction happens faster.

Also what bactgudz said works too...

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