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i read the rules. im an olde guy. got some extras to move. recently opened a paypal, to pay out.

never did a ‘pay in’. are there fees involved? how does it work?

As long as you set up the payment as “send money to friends and family,” there’s no charge from PayPal. You can then transfer the money into your bank account that’s linked to your PayPal account but that part can take 3-4 days sometimes. 

Just make sure the buyer sends you money with the “Friends and Family” option and you won’t have to pay a fee.

khariV wrote:

15 minutes ago, khariV said:

As long as you set up the payment as “send money to friends and family,” there’s no charge from PayPal. You can then transfer the money into your bank account that’s linked to your PayPal account but that part can take 3-4 days sometimes. 

I usually use pay pal money as an excuse to buy more tools from my pay pal account, i guess its my own little tool ponzi scheme

I think the fees are 3% if sent as non-F&F. A lot of people will not send money F&F because it’s a “Gift” there is no buyer protection.

It is easier to transfer from bank account to paypal then to transfer from paypal to bank account. I have yet to unlock the transfer from paypal to bank account feature. When I bought something from @SevenOddosFence I was fairly new to paypal and I still am. It was fairly easy to pay the money. As far as I know there were no extra fees involved.

Jronman wrote:

46 minutes ago, Jronman said:

It is easier to transfer from bank account to paypal then to transfer from paypal to bank account. I have yet to unlock the transfer from paypal to bank account feature. When I bought something from @SevenOddosFence I was fairly new to paypal and I still am. It was fairly easy to pay the money. As far as I know there were no extra fees involved.

Your whole paypal has to be linked to one of your bank accounts, address everything, you have to be fully verified through paypal before you can do a transfer to your bank.

pancing wrote:

29 minutes ago, pancing said:

Your whole paypal has to be linked to one of your bank accounts, address everything, you have to be fully verified through paypal before you can do a transfer to your bank.

yeah it requires 2 forms of identification and I haven’t gotten around to doing the second. Maybe one of these days i will. I mostly use paypal for spending money. Get a little here or there from selling stuff then invest what I earn back into tools. Kinda gives me a general idea on how much I can spend so I don’t spend too much.

You can also use a credit card as a buyer and there’s a small fee from PayPal. But atleast you get a little protection from your credit card in case the worst happens.