Pay Pal - How It Works?

[Saruman]

Can someone give me an overview of how it works before I sign up with them, thank you.

1. Which should I sign up with...Personal, Premier, Business?

2. Do they pay by checks?

3. When you sign up, do you need your checking account #?

4. Are there any fees?

5. Can it be used globally?

 

[Joshua Farrell]

1. If you want to have donations sent to you without hassle, and you don't want to set up a business yet, go with premier, it only costs 1 us dollar which will be sent back to your bank account after verification.

2. They do automatic deposits if you have any money in paypal.

3.Yes, though you can use it with either your debit or credit card. It will work the same.

4.The only fees are if you are going for premier, in which the dollar can be sent back to your bank account if it successfully gets deposited into your paypal account for verification.

5.Anyone that has a paypal account, and accepts payments via paypal can use it globally. Just check to see if the person's country is listed if you have any questions.

 

[Saruman]

Nice, so what are the benefits of "Personal vs Premier" ... ? :shrug:

 

[Joshua Farrell]

Personal is basically an account that you can buy stuff with, and have minor donations to you. Premier is the Buy and Sell for non businesses.

 

[Saruman]

So if I choose "Personal" what is the donation limit, both me giving, and recieving?

Does "Premier" let you give and recieve donations?

Can we register with either of the two, with out our debit, credit, and checking account numbers?

Meaning, can we register, and just recieve payment via a paypal check?

Thanks Dentist for your help!

 

[Joshua Farrell]

I don't know what the limit is, because I automatically upgraded to premier the day I got the account, but there is one! ;D I don't know if that helps or not.

Premier lets you to send, and receive donations and payments.

You can have multiple accounts of any type connected to your paypal account. Which means, you can have one account hooked up to your paypal account as the savings account, which you can send money from your paypal account to your savings, and an another for your checking if you want to remove or deposit money to and from your checking.

 

[Saruman]

Hey thanks dentist, looks like I'm going with premier then. :great:

 

[merk51]

Thanks for making this thread I had the same questions and reading this helped me work out the answers I needed as well 🙂

 

[Nebulous]

I noticed they charge a fee if the money has to be converted into USD.

 

[Saruman]

Any idea on how much, must be via a "percentage" then, like "1.3%" gets deducted?

And does it change periodically during monteray inflation/deflation, or is it like I said above, a static percentage that gets dedcuted?

 

[Damien]

All of this can be found on the paypal's FAQ page 🙂

 

[Shahrier]

I noticed they charge a fee if the money has to be converted into USD.

They actually charge a fee even if it doesn't have to be converted.

When I got my first dollar, the person payed me in USD, I only got 60 Cents.

 

[Nebulous]

I noticed they charge a fee if the money has to be converted into USD.

They actually charge a fee even if it doesn't have to be converted.

When I got my first dollar, the person payed me in USD, I only got 60 Cents.

Whenever someone sends me money from the same country I am in, there is no fee.

 

[David]

Its all random. I sent someone $18 and no fee a few months back, and then earlier today, I sent someone $0.50 and there was a charge on $0.01, and they both were gifts.