Paypal for Dummies

[Tim Kindler]

OK Guys and Gals out there, don't laugh, but I'm not set up for Paypal and have never wanted to know a thing about it till now I am an Old School Guy when it comes to making deals with cards, etc., but have decided to get into the 21st Century. Can someone tell me in PLAIN ENGLISH how Paypal works, how you get set up for it, how you get your $ or pay for something, and what about this 3% add fee that I see on the BST if you want people to pay with Paypal. Is Paypal just an ebay thing? I would like to buy and sell on ebay more.

I am asking for your help, but please don't bust my chops for being a dinosaur when it comes to this current technology!

Thanks,
Tim Kindler

************DAMN!!!!! I TOLD YOU I AM A DINOSAUR AT THIS TECHNOLOGY STUFF, I POSTED THIS ON THE WRONG BOARD! CAN SOMEONE WHO KNOWS WHAT THE HECK THEY ARE DOING MOVE IT TO THE CORRECT BOARD!!!!!!!!

[HRBAKER]

Tim,
It's easy to sign up. Go to www.paypal.com. I am not full blown user as I don't have it linked to any bank account nor do I accept money through it as I am typically not a seller. The 3% most people reference is the vig/fee that paypal charges a seller for their service. Some people evidently think that paypal should offer their service for free and ask that you pay by "Paypal Gift" so they can avoid the fees on the receiving end.

I use it to pay with and I am a confirmed user as I have it linked to a credit card. From a seller's point of view it seems to offer almost instant access to your money as opposed to waiting for a check to clear, etc.

As a buyer it allows me to use a credit card to pay for things and not have to exchange any credit card information with the seller. It is very convenient from a buyer's POV. I cannot speak to it as a seller.

It is very easy to use as a buyer/payer. On ebay auctions you can click the "Pay Now" button and it will take you directly to the PP website where you log on and pay to the seller's account/e=mail address. For a non-ebay transaction like off the BST you simply enter in their paypal info, select the method of payment (out of your paypal account if you have a balance or a linked credit card), click and confirm. Very easy.

Jeff

[Tim Kindler]

Jeff, Appreciate your help on this!
Thanks to whoever moved this thread from the BST to the Main Board!
Best Wishes,
Tim

[dougscats]

All of what Jeff said is good information, Tim, but there's one thing I might quibble with, philosopically, if you like.

I would like/try to be an ethical person. [Snipe here.]

When it comes to the 3% "free lunch" that you can get by paying by "paypal as gift," I think it's great that I don't have to pay for once [like a free ride, peanuts at a bar, or a free drink once in awhile.] Of course, you can only do it [paypal as gift] for free when you pay by means other than a paypal credit card. You have to "pay by another method," such as transfer money from your own bank account. This can be a little tricky to do; I think paypal purposely doesn't make it easy--and the option comes up near the end of the transction, below the total.

Anyway, is this unethical? It's "personal" and to a "friend," in the language of paypal. I'd maintain that the Net54 forum is pretty personal and friendly [compared to ebay, e.g.], that there is a camaraderie here, reflected in the trust we have in trading/buying/selling, for instance--and it doesn't come with the commercial guarantees that buying on ebay and then paying by paypal would.

Is this all a rationalization for me exploiting the system/not paying? Maybe.

But I look at it as a corporate give-back, a perk, a service that paypal gives its customers. And surely it's good for their business--which they are encouraging me to do through them, rather than my paying by personal check. And now I become more cynical: Do you think that paypal doesn't know what it's doing?

Anyway, I wouldn't argue that Jeff is probably a more ethical person than I am. I'm probably more practical, but my conscience suffers if I ever do anything I deem unethical. As it is, this 3% off/no charge doesn't bother me; in fact, it makes me happy. Perhaps it's my mindset when dealing with a corporate giant. But don't get me wrong, Tim; I'm happy to use paypal.

I resisted at first, but became "verified" and started using paypal several ago, and now I couldn't imagine doing it any other way. There are all kinds of perks they give [like credit rewards], and there are other advantages, as well. Skeptical dinosaur that I am, I only signed up for a paypal credit card a few months ago, and it seems that there are advantages to using that, as well. Paypal also offers additional protection when buying on ebay, and they've been first-class whenever I've had to deal with them.

Enough from me,

Doug

[Leon]

Each time this discussion comes up I always have to give the paypal-correct way of saving money with them. If you don't need the money in less than 3-4 days, request the sender pay by e-check. Last time I did it I had to remove my back up funding (credit card) so it would allow me, but the most you will get hit for, by taking an e-check is $5. If you have a 1k+ payment you need to take, that e-check method of payment will save you a few lunches. I make it mandatory on larger amounts I take. Just a suggestion. I too don't really care for the ways to skirt the system, even though I am not perfect, I try to do things by the rules most of the times.

[drc]

You can have it so it takes and adds money directly to your bank account (as you ask-- they don't do it without you asking it to). I've had it this way for years and have had no problem. I drop the PayPall $ to my bank account.

As a seller, a positive is anyone can pay you with his or her credit card-- through paypal. Most normal citizens can't accept credit cards on their own.

[HRBAKER]

Doug,

I doubt if I am anymore ethical than the you for that matter. Just e-mail Paypal and ask them if your scenario is what they envision as the correct by the terms use of Paypal Gift. If I conduct a sale/purchase on the BST I am not making a gift of money to the seller, we are involved in an arms length transaction of commerce.

I guess the way I look at it is this, I don't work for free and I think that if I avail myself of paypal's services then I should expect to pay for them. That's all.

Good discussion.

Best,

Jeff