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Question From A Paypal Noob


jtay
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So, I've had a PayPal account for a while now which I've never used, but now I expect to need to use it real soon. I figured that you people here would be able to help me out better than anyone else. My main questions are, "Do I have to have a balance on my PayPal account in order to send funds, or will PayPal automatically withdraw it from my bank account? And if I want to add money to my PayPal account, how long does that take?" Any other info/tips that you want to throw out there would be appreciated as well, since I have no idea of the process involved when using PayPal.

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My debit card is listed on my paypal account, and they deduct the money straight away from my bank account without any funds actually on the balance of the paypal account. This has worked splendid for me. I think Lou nailed it on the head though. If you don't have a credit card, or bank card (visa/mastercard debit, or check card) listed on your account, then it will take longer. God Bless!

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If I don't have funds in my Paypal account it is automatically deducted from my Bank Account, but I had to sign up for that option in my preferences, and give them my bank account info. If you want to transfer funds from your bank account to PayPal it takes 3 - 5 days, and some banks charge a fee, plus I think PayPal does also.

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I set up a special credit card (my choice of which one - mimimal limit, no annual fees, etc.) just for Paypal. I then pay through the credit card (you have to click on more payment options or it'll automatically take it out of your bank account). Then each month, I just pay the credit card bill in full. It doesn't cost me anything, either with Paypal or the credit card company. Of course, if you sell on eBay and have a balance in yoru Paypal account, they take the money out of there first.

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