Paypal for Dummies

Leon · #1 01-17-2011, 12:20 PM

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 · #2 01-17-2011, 01:36 PM

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 · #3 01-17-2011, 03:28 PM

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

autograf · #4 01-17-2011, 03:50 PM

The other issue with paypal 'gift' if it hasn't been discussed is that by sending money via gift you waive any recourse you might have in the event that the transaction goes wrong. That is if someone doesn't use insurance to ship and you did 'gift' and it gets lost and you want your money back.......so sorry.....

Not gonna say I haven't done it before but Jeff does make a good point in that if my boss came to me and wanted me to work for free, I'd tell him to pound salt. If you're a seller on ebay, you can get a debit card to pull $$ from your seller's account and use it for purchases and get a small amount back of that 2.9% that they charge you.

In all actuality, it's illegal to request that someone pay you 2.9-3% MORE for an item for you to accept paypal. At least that's the way I understand it. That invalidates the user agreement for accepting Paypal. You should build that into your fees or what you're requesting for the item OR give a discount for cash/check, not charge a vig for the choice to use Paypal. Don't think anyone's gonna beat down your doors but always good to know what's up........

If you buy on eBay, Paypal is an absolute must. I can't imagine living without it on ebay. It expedites the transaction, gives you a moderate amount of protection--even more if you use your credit card on the purchase, and keeps an online record of payment for a LONG time.

D. Bergin · #5 01-17-2011, 04:18 PM

Quote:

Originally Posted by autograf

In all actuality, it's illegal to request that someone pay you 2.9-3% MORE for an item for you to accept paypal. At least that's the way I understand it. That invalidates the user agreement for accepting Paypal. You should build that into your fees or what you're requesting for the item OR give a discount for cash/check, not charge a vig for the choice to use Paypal. Don't think anyone's gonna beat down your doors but always good to know what's up........

While it's not "illegal", it is against their rules. Also, for anybody with a merchant account of any kind (Paypal may fall under this in certain circumstances), it is also against the rules to offer a discount for a cash/check transaction in lieu of a credit card payment...........unless you are selling gas in certain selected states.

tonyo · #6 01-17-2011, 05:00 PM

Tim,

I've used paypal for years and never had any problems. More and more places other than eBay are accepting it as well.

Although I understand the points, the whole gift issue is a shoulder shrugger for me....., but I did just update my two listings on BST !

Tony

B O'Brien · #7 01-17-2011, 07:26 PM

Being the fine upstanding Irish (C word) boy that I am, I do hate to use the "gift" to sell, due to the guilt, but on the other hand, it helps me sell things at 3% less to the other fine members of 54. I am more than happy to take a 3% hit on ebay from folks I don't know or trust. I only use the 3% gift rule here (checks, cash and MO always welcome!), because I think it is a nice thing to do amoung card trading buddies.

But back to the point from Tim's post. I am a fan of Paypal as a buyer and a seller. I can buy something on my CC without having to worry about having cash on hand. This lets me sell the stuff to pay for it over a month!!! On the seller side, I have sold some stuff to folks on ebay (like myself) that have limited cash on hand, from time to time, until sales are made to pay. I think it has helped me as a buyer and seller on ebay, and the BST.

Hope all is well and just my opinon,
Bob

dougscats · #8 01-22-2011, 10:53 AM

I just made a buy using paypal as gift again.
Only this time I feel guilty.
Thanks guys.

In the end, I do usually follow my feelings [I trust them more than rationalization], so my "gift" days may be over [though I still hold out hope of being persuaded otherwise].
Of course, you're right, Jeff; once the word "gift" is used, it's hard to argue ethics [This had dawned on me just before I read your message; I couldn't believe I had conveniently overlooked that word].

I am like an old dog, I'm sorry to say; sometimes I have to learn a lesson a few times before it gets drilled in [though to be honest, age has nothing to do with it; like how many times must I learn to be more prudent and shut up sometimes?].
I've found myself humbled/disappointed in myself on Net54 a few times, now. But I would aspire to integrity, and so I appreciate the lessons.

The aforesaid notwithstanding, I'm happily editing this ending!

I just tested it [Sending money by paypal] your way, drc--going to "Personal"/checking "Payment Owed" [instead of "Gift"], and then changing Method of Payment from credit card to bank account--and lo and behold it worked!--no fee to either buyer or seller!

So you can transact for free, and ethically, too!

Good news for all!

Thanks again.

Duh, Doug

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