Paypal Question

[comicinvestor-migration]

I was thinking of getting a generic PC bank account and using it for Paypal. Kind of a self-sufficient EBay fund where I'd use sales money to pay for some buys, etc.

 

Giving those bucks a bank account is no problem, but from what I'm reading, a credit card is required to send money? I'm not sure why, since if you've got a few hundred Paypal Bucks to pay for it, why is a CC required?

[PovertyRow]

Kind of a self-sufficient EBay fund where I'd use sales money to pay for some buys, etc.

 

I am gponna do that too. I have had a paypal account for a long time but am starting to use it as a "base" - will be selling more on ebay and will be using my paypal account to buy. Works out nicely.

 

I believe - am not sure - but believe you can also do paypal with a checking account. You may want to open a new checking account and seed it with a bit of money to start. Then start using your paypal receipts for your paypal payments. That may work but am not 100% sure.

[comicinvestor-migration]

Yeah, that will definitely work, but I keep seeing on the Paypal help notes that they require a Credit Card to send money. I am setting up a specific bank account to use for Paypal and I really don't want to get a PC credit card as well, just to use this f-ing service.

 

No way I'm giving them my main accounts with the big money and credit limits.

[PovertyRow]

I said I believe - am not sure - but believe you can also do paypal with a checking account.

 

Scratch that. I KNOW you can do paypal with a checking account. And I know you can make your checking account your primary account (I have one I use for that). Just not sure if you can do paypal with ONLY a checking account.

[comicinvestor-migration]

This system is sooo confusing that I'm wondering if it's even worth it. I just wanted to make it easier for those fat-asses buying from me, as they wouldn't have to let the nachos get cold to run out and get a money order.

 

My problems with what I'm reading:

 

1) Require a Credit Card for payments (which I'm not prepared to give), even if you have a few billion dollars in your Paypal account.

 

2) Personal accounts cannot receive credit card payments, but Paypal lets buyers select this option for personal accounts. Result: lotsa unclaimed payments and pissed off buyers.

 

That #2 is a real joke, and I understand Paypal does it to (cough) encourage the average Joe to sign up for a business account, but it looks virtually impossible to get a payment through to a Personal account and it's the recipe for a ton of Negs.

 

Oh well, I guess thus ends my attempts to by be "online buyer friendly".

[comicinvestor-migration]

Just not sure if you can do paypal with ONLY a checking account.

 

Thats an easy one, as you can simply transfer funds to and from your Paypal account for buys and sells. For what I'm intending, you wouldn't even require a bank account, except for ID verification.

 

The question is: Will Paypal allow you to make payments from your Paypal Stash, without the need for a credit card to be entered?

 

So far, the answer seems to be no. Quite strange indeed.

[FlyingDonut]

The question is: Will Paypal allow you to make payments from your Paypal Stash, without the need for a credit card to be entered?

 

I do that all the time - my Paypal account goes up and down as I sell and buy stuff. If it goes into a negative, like today, when I have to send $313 to A-1 for FF 166 9.8 white (yes, I paid too much, but I REALLY wanted it) it is tied to my business checking account. I have never tied a credit card to my Paypal account and I'm not going to. My wife and I both use the Paypal account to get stuff on eBay, and I know a lot of people who do the same thing.

[comicinvestor-migration]

Well I don't know what's up, but Paypal states in their help files that in order to send money, I'd need a credit card on file. I've sent them an email, and I hope this isn't a recent change to their policies regarding new members.

[aardvark88]

A seller in the U.K. will accept PayPal. In her item description, it says she prefers to be paid in GBP (British pounds). Guess this means I should convert the winning GBP bid to US $ equivalent & remit by PayPal in US funds. Anybody else had this problem yet?

[comicinvestor-migration]

If the auction is in USD, then pay in USD, and vice versa for Pounds or Euros. That's the whole purpose of online billing services.

[Joanna]

CI, the solution is simple. With your new checking account, get a debit card with a VISA logo. Use that debit as the credit card. The reason for the credit card thing is for back-up, so that there are two sources of funds in case the checking account is low. The debit card as back-up circumvents this and they don't know the difference.

 

That's what I do because I gave up using credit cards a few years ago. Haven't had an actual credit card since, so I live debt-free.

 

-- Joanna

[Bonds25]

You can have it tied to a debit card too, so it'll come directly out of your checking account.

[Darthdiesel]

Paypal now converts into foriegn currency, euros and pounds sterling...

 

Maybe the rules are different for Canadians, FD, but I have the same situation...it uses my paypal balance but when I overspend my paypal balance, it deducts out of my checking account via a VISA debit card tied to it, that can act as a credit card as well???

 

WTF???

 

My advice, CI, - if you don't want to tie a CC# to paypal then f;%k it! Stick to MO's and personal checks if your bank doesn't charge you for depositing US $ ...

[comicinvestor-migration]

My advice, CI, - if you don't want to tie a CC# to paypal then f;%k it! Stick to MO's and personal checks if your bank doesn't charge you for depositing US $ ...

 

That was my thought as well, and I have a USD account that works no problem, and I was just seeing if I could be "nice to buyers" by signing up.

 

What's really amusing is that I went through the same deal (looking at Billpoint and Paypal) about a year and a half ago, and EBay Payments (Billpoint) are still a far easier "design" to pay and sell through, while Paypal is a real nightmare of bureaucracy and "jumping through hoops".

 

Once EBay bought them, I thought the Paypal system would become much easier (try being a non-member and paying with Billpoint vs. Paypal - BP is a zillion times easier), but instead it's becoming even more obtuse.

 

I assume once Paypal is fully integrated into EBay, that things must improve, otherwise all the Average Joe's paying via Billpoint now are going to be lost on the Paypal system.

[comicinvestor-migration]

CI, the solution is simple. With your new checking account, get a debit card with a VISA logo. Use that debit as the credit card. The reason for the credit card thing is for back-up, so that there are two sources of funds in case the checking account is low.

 

Thanks for the tip, and I'll try that.

 

I understand full-well why Paypal requires a credit card to make purchases, as their system is built like every other US-design, to encourage people to go into debt. The problem is, that it's so blatant as to be a total requirement of their system, and tends to screw those fiscally-responsible/security aware people who simply want to buy and spend with (gasp) actual dollars!!

 

Don't have enough real cash for that CGC comic? No problemo, says Paypal, just slap it on your credit card at 28% interest! How much money is in my Paypal account, and can I afford this purchase? Don't worry, replies Paypal, you've got a "spending limit"!

[Crowzilla]

The Paypal credit card is a misnomer, as it is really a debit card - you can't spend more than is in your Paypal account (and it certainly doesn't appear on your credit report). I went ahead and got it because every time you use it, you get a 1 1/2 % rebate, so it helps eat up some of the Paypal fees.

 

[comicinvestor-migration]

So you can sign up for an account (with no credit card on file), get a Paypal debit card through them, and buy all you want?

 

If so, then their help file needs some definite work, as it states in no uncertain terms that a credit card on file is required to make online purchases.

[Crowzilla]

In the US you don't need a Credit Card, but I think for international customers they do require one (perhaps you can use a US PO Box or a friend's address?).

I forget the reason's they started that, but it had something to do with some kind of fraud they were experiencing and combined with the fact that they aren't really a bank, it was causing them a lot of grief.

 

[Darthdiesel]

There is a paypal debit card and if you over spend your balance, it dips into the checking account it is tied to. There is also a Paypal Credit card that gives you a line of credit...a whopping $500 for most Joes off the bat, but you can have that limit raised. I think the debit card is better because of the "Discover REwards" like kickback for purchases made with that card...