OT: PayPal

timme_v · Post by **timme_v** » Wed Jul 23, 2008 10:22 am

So I have a couple of noob questions about PayPal. Say for example I won a $500 item off ebay and I needed to pay the guy through paypal, how long does it take to transfer from my bank account to my paypal account? Also, does paypal take like 10% or something of the money transfered? So if I put in $500, would it not work? And how long does it take for money to get transfered..

thanks

kmlabs · Post by **kmlabs** » Wed Jul 23, 2008 10:26 am

The transfer is instant if the other guy has a PayPal account too.

If you transfer $500 he'll get a little less than that, but it's nowhere near 10%; he'll probably end up with about $497 and some change. If he's used to people buying from him with PayPal he should be okay with that; I've never had to pay the seller's charges.

Amoun · Post by **Amoun** » Wed Jul 23, 2008 10:34 am

a little known fact is that you can pay by paypal echeque which has a fixed charge of around $3 irrespective of the amount, takes longer to go thru tho something like 7 working days.

quite a useful feature i have used it for buying guitars from us dealers and having them shipped to the uk

timme_v · Post by **timme_v** » Wed Jul 23, 2008 10:48 am

Awesome, thanks guys. Yeh I'm looking at buying a guitar from Japan so I just wanted to know because I have never done overseas shipping before.

philiprst · Post by **philiprst** » Wed Jul 23, 2008 11:19 am

If you link your paypal account to your bank account then the transfer will be instant.

Depending on how many transactions the seller does on paypal, paypal charges him a fee of between 2.9 and 3.9% +30 cents. As a buyer you don't have to be concerned about this since it is charged to the seller not the buyer.

As was mentioned earlier, you can also use your bank account funds by selecting the echeck option when you pay via paypal. This has a $5 fixed fee so once the cost of the item rises about about $200 then the seller gets charged less than a regular transcation. It makes no difference to the buyer.

Unless the seller specifies an echeck only (which I believe is not allowed on ebay) I would recommend you don;t use that method. Unlike instat transfers, echecks take 3-4 days to clear into the sellers account and they are not going to ship the item you bought until it clears.

Amoun · Post by **Amoun** » Wed Jul 23, 2008 11:59 am

funny how ebay makes echeque only not allowed, nothing to do with them owning paypal and wishing to maximise their earnings i am sure

:D:D, be surprised if they could make that stand up against an unfair contract term action

Damn-Deal-Done · Post by **Damn-Deal-Done** » Wed Jul 23, 2008 12:46 pm

Just to let you know, it's illegal for a seller to transfer charges to buyers. So if anyone ever asks, report them to ebay, or tell them to go sit.

Amoun · Post by **Amoun** » Wed Jul 23, 2008 1:12 pm

is it? why?

i should be surprised if any legislation covered private transactions between individuals

nguideau · Post by **nguideau** » Wed Jul 23, 2008 5:03 pm

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by kmlabs
 The transfer is instant if the other guy has a PayPal account too.

If you transfer $500 he'll get a little less than that, but it's nowhere near 10%; he'll probably end up with about $497 and some change. If he's used to people buying from him with PayPal he should be okay with that; I've never had to pay the seller's charges.
<hr height="1" noshade id="quote"></blockquote id="quote">

I think they changed that slightly. Paypal doesn't make those funds available to you until they clear from the bank now, which can take a day or two for good banks, or a week+ for others. And they tell the seller to wait to ship until they get notification from Paypal that the bank released the funds.

Damn-Deal-Done · Post by **Damn-Deal-Done** » Wed Jul 23, 2008 8:34 pm

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Amoun
 is it? why?
i should be surprised if any legislation covered private transactions between individuals
<hr height="1" noshade id="quote"></blockquote id="quote">

OK, it's against ebay's user policies to pass on any charges to the buyer, so you can report them if they try. Just done a little Google research and it seems like a grey area in regards to the law, I'm sure I've read somewhere that it's illegal.

I know it's against the law to pass on credit card fees to buyers.

OT: PayPal

Who is online