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Originally Posted by Skip N
Seeing how we're on the issue of Paypal i have a question. I have a paypal account i use to make purchases through ebay and such. I have a few things i want to sell on ebay and am wondering if people can send me money through my paypal account? What do i need to do to recieve money on there? and when i recieve money how do i get that money from paypal to put it into my bank account?
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Yes you can receive money from other people thru PayPal, it goes directly to you're account but PayPal makes weekly deposits to your bank. To receive money you have to be verified by having a bank account listed with them. Are you verified? If not when you do click on the get verified button what they do is make a deposit in that account for like 2 cents and you have to enter the amount they deposited in you're account back on PayPal and that's it ... you're verified. PayPal does not tranfer money everyday to bank accounts so don't be mislead, they make deposits once a week this way they hold all funds for that week in their name and collect the interest on it, multiply that by a million customers and you can understand how they have their own bank. One word to the wise too ... don't keep alot of money in that account you use because PayPal for any reason or time of their choosing can and will freeze the account. By doing this they lock you out of it and they draw the interest on your money until they decide it's time to let you have it, some or all of it back. If this happens they usually say that there was some abnormal activity on your account and they're doing this for "your protection", there has been many cases where PayPal has locked accounts on people and they have never gotten their money back so be careful and only keep a minimal amount of money in the account so if it does happen it doesn't hurt too bad. Good Luck!