[AndreasLV]

Hi guys,

I have a Paypal account.

When I pay for an item on eBay - it is linked primarily with my bank account, and that is where the money is withdrawn from to pay for the item.


Someone is buying an item that I am selling on the classifieds here.

They will pay through Paypal.

Embarrassingly, I have never received payment via Paypal before and I am unsure of the procedure exactly.


When someone pays me via Paypal.

Where exactly does the money go?

a) Does it go directly into my bank account (Royal Bank of Scotland account)?

b) Or does it go into a Paypal account, and if I want it to go to my bank account (Royal Bank of Scotland account) - I will have to transfer it?

c) When exactly is the money "safe" - so I can decide that I can post the item.
Is it safe or mine as soon as it shows up in my Paypal account.
Is there any way of the buyer taking the money back out of my paypal account.

d) I might be using Paypal quite regularly to receive payments.
It says I might need to upgrade my account - to either Premier or Business. Is that the case?

e) Do I get all the money? Or do Paypal charge a fee?


Sorry if I am being paranoid, but I want to be safe in my transactions, and i also don't want to mess the buyer around by making him/her wait longer than necessary for the item.


Cheers

[Lhiistyssdds]

i try to help

the money goes into your pay pal account instantly.

if he funds the payment via credit card you will need a premier or business account and you are charge 3.4% plus 20p so £10 would be 54p

you can receive two credit card payments per year for free with a personal account after that you need a premier or business account

watch out for e cheques these have to clear but hardly anyone sends these i have only had one in over 300 transactions

also when you draw money out to your bank account they charge 25p under £50 so best to wait till you have £50 in there

on ebay as soon as money is in your paypal account you can send item then withdraw it to your bank when you want

hope that helps

[AndreasLV]

Well the payment is going to be around £200.

But I don't know if he will be paying via Credit card yet.
I have a Personal account at present

Should I upgrade to a Premier account anyway?
In case he pays by Credit card
And the fact that I will be receiving more than 2 payments in a year as I will be selling a lot of items soon.

Upgrading to Premier account is free?


What I want to know mainly is that once I login to my Paypal account and see the payment has been made - Is it safe to dispatch the item? Ie has the money cleared and is now mine?

Or should I transfer to my regular bank account first, and then dispatch the item?

[Lhiistyssdds]

may as well wait till he has paid the £200 and use up your two frees ones. as soon as you need to upgrade accounts it will tell you in the email receipt. it is free to upgrade accounts.

i send items as soon as i get the money in my pay pal unless its a e cheque but as i say these are very rare

is the buyer in the uk

outside the uk its 3.9% plus 20p

basically read all emails from pay pal carefully for the first few transactions then log in and check your account

after a few transactions you get use to it

[AndreasLV]

Cheers mate.
Thanks for your help.

He's based in the UK.


I'm sure once I've handled a few of these transactions, it will become pretty simple.