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Thread: Paypal question

  1. #1
    SG Enthusiast Easto's Avatar
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    Question Paypal question

    I haven't used my PP account for about 8 years. Since I've forgotten several of their policies I thought I'd ask...

    I have my CC as the preferred method of payment and my checking account as backup. I have $0 amount in the PP account. When I buy online is the payment transparent i.e. it will use my CC without any fees? If I set my checking account as primary and the PP balance is still $0 do they charge me a fee to move the money from the checking account into the PP account and then make payment of is the checking account payment transparent like the CC payment?

  2. #2
    Administrator Philip's Avatar
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    I have a balance in my Paypal account, so take this with a grain of salt but I think buying with Paypal is always free (in the US), regardless of the source of the money. They take ~3% + 0.30 from the sellers.

    The only thing that matters to you as a buyer is the speed with which they actually transfer the money to the seller (about 3 days?), some sellers may delay shipping to you until your funds clear.

    I don't know if your credit card/bank impose any fees for transferring to Paypal, most bank accounts/debit cards wouldn't, but a credit card might in some situations?

  3. #3
    SG Enthusiast Easto's Avatar
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    Thanks for the info. It's been so long since I've used PP I've kind of forgotten how it works. Somewhere in the back of my mind I could have sworn that one time I bought something and my PP balance wasn't enough to cover it and that PP charged a fee for having to transfer from my bank or CC.

    Although most places take CC nowadays it seems like PP is a little behind the times(?). Why do I need to keep a PP balance if they will just deduct the money from my primary account anyway?

  4. #4
    Administrator Philip's Avatar
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    Well, even if it seems instant, any bank/credit card transfer also takes a couple of business days to actually clear and make it to the merchant/seller/receiving party. During this time, if it turns out you have insufficient funds in the source account, the transaction can be reversed and someone is left holding the bag, usually the merchant/receiver. It is a similar concept with Paypal, they take a couple of days to actually get the money and transfer it to the seller.

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