Questions on Paypal

[Rl'Halsinor]

Has anyone here used PayPal and could you please tell me your experiences? I have found sonething on eBay that I can't find anywhere else but the seller wants PayPal.

Is it safe? I have heard conflicting reports?

What are the costs involved?

What do yoiu need to give them by way of information?

 

[Nifft]

I've been using it for years. Never had any problems or erroneous charges.

Can't recall exactly what info they wanted -- standard bank stuff, though. They pay interest, so they need your tax info for the IRS.

Cheers, -- N

 

[Jeysie]

It doesn't cost anything if you open a simple personal account (which is adequate for paying out monies or accepting payment from other PayPal accounts).

Information-wise, you need to provide something for PayPal to use to draw funds into your account, such as a credit card or bank account.

Peace & Luv, Liz

 

[trancejeremy]

I believe ebay actually owns it nowadays. It's pretty safe, I've used a lot at least, and never had any problems.

You just need a credit card or bank account to provide funds. I use my CC myself, I'm a little wary of using a bank account online, but my father uses his for it and he's never had a problem.

And sometimes if the seller stiffs you, and you use paypal, you can get a refund.

It doesn't cost you anything if you send money. But if you receive it, it's like 5%.

 

[Rl'Halsinor]

Okay, thanks to everyone! You answered my questions perfectly.

 

[Vocenoctum]

As a Buyer Paypal is fine, I wouldn't worry about anything. As a seller, you just have to make sure to protect yourself from fraudulent charge-backs, like always shipping stuff with a tracking number, and understanding that Paypal offers no protection for electronic products.

 

[DMFTodd]

I did have my Paypal account hacked and $300 withdrawn. One email to Paypal resolved it and they gave me the money back.

 

[Merkuri]

I haven't had any problems with PayPal, but be aware that they don't offer as much protection as a credit card company. If you want your money back for a purchase (because you didn't get the item, or you got the wrong item, etc) they can only get it back if the person hasn't withdrawn it from his PayPal account already. If they sucked it into a bank account or spent it as soon as you paid them, you're out of luck.

 

[Aus_Snow]

I've used it for years now, internationally. It's fine. As a seller, the fees take a bit fo getting used to, but they're not that bad, I guess.