EBay, Paypal question

[Guest db99wj]

I don't use it much but I do ever so often. I have an ebay account, I have a paypal account with my checking account. I do not have a balance in my paypal account. I bought an item off of ebay, approved through my paypal account. Do I have to do anything else? Do I need to physically move the money to the paypal account or will it, since I authorized, take the money from my checking account, through paypal, to the vendor I bought from?

[MudBugjr]

Pay pal should just take it out of what ever account you set up as your primary account.

[Oh Shoot]

They'll use ANY balance in account first (no choice in that, even if it's only partial payment for the item), then, if you are "verified", with bank account linked, pull the rest from bank account.

You can change the option to pull from bank to credit card, assuming you have cc registered there also. It's an option before you complete the transaction. Note, though, that it always defaults to bank account, so you have to choose the cc option each purchase.

If you've already done the transaction, you must have just not seen that option, and it tells you where the funds are being taken from in the smaller print.

Anyway, you do NOT have to move money from bank account to PayPal account. Matter of fact, this takes several days to do so, and your seller is not paid till then, whereas payment to seller from bank account (or credit card) is instant.

- OS

Edited December 31, 2008 by OhShoot

[jeffmem]

Use the CC option if you have one. It will protect you better than the checking account transfer.

[Oh Shoot]

Use the CC option if you have one. It will protect you better than the checking account transfer.

Agree.

- OS

[Guest db99wj]

Cool, thanks.

I will use the CC option next time.

[MudBugjr]

I wouldn't let anyone have the old checking number for sure.

[Oh Shoot]

I wouldn't let anyone have the old checking number for sure.

They've had mine since 2000, no worries.

Done at least $50K through PP as buyer/seller.

- OS

[ftncityfatboy]

They've had mine since 2000, no worries.

Done at least $50K through PP as buyer/seller.

- OS

ditto, no issues here. had money taken from and sent directly to checking account w/o a hitch. Sometimes using CC payment option doesn't get the buyer protection as does direct from CA does.

[jeffmem]

I think using the CC option costs paypal more too which I like.

[Guest HexHead]

Just a heads up for using Pay Pal when you sell something on eBay now. If you have <100 feedbacks and the sale is >$200, they will put a 21 day hold on releasing the funds to you.

The wait can be shorter IF you provide them with a tracking number for the shipment (Priority Mail delivery confirmation number will do as well) AND get positive feedback from the seller.

[Volzfan]

I don't use my PayPal acct. much but this past summer I got an email from PayPal that there was a questionable charge on the account. I opened my acct. up on the computer and saw the charge there that wasn't mine going to someone in China for $325 (approx.).

I immediately disputed the charge and PayPal got the charge reversed at no cost to me. I don't know how my acct. was hacked but I have changed all passwords and accounts tied to my PayPal acct for security reasons.

If you haven't had a problem with your acct. don't assume that it won't. Keep a close watch on it.

[Guest db99wj]

My payment is coming out of my bank today. Thanks for the help.

Regarding fraudulent charges, I worked as an Asst Mgr and Branch Mgr at Regions for 2 years. The odds of someone hacking into accounts are low, it does happen, but not as much as people think from my experiences. Most checking account fraud, or credit card fraud transactions are done on a local level, ie stolen card, stolen checks, unauthorized use.

On a side note, where the internet comes in the most is phishing schemes. You get the email, click the link, put in your info, and there you go, all your information has been given to the crook.

This happens a lot, especially with older non computer savy folks.

This has been my experience, I worked with loss prevention and customers daily in my 2 years at Regions. When I say dailey, it might not have been every single day, but it was dang close to it.

[Oh Shoot]

...

Regarding fraudulent charges, I worked as an Asst Mgr and Branch Mgr at Regions for 2 years. The odds of someone hacking into accounts are low, it does happen,...

Mom keeps a First TN savings account in 'nooga. Actually, it's joint with me, but it's really hers, but I can see it online.

About 3 months ago there was a $990 withdrawal she didn't make. Could see paper copy online, signature wasn't remotely like hers. Had to be a bank employee, no other explanation. First TN would never say, of course. They were also slow to replace it.

- OS