OT - Pay Pal - Pros and Cons

[Starlette]

I was thinking starting up a Pay Pal account. Before I do, I'm asking for guidance:

- The benefits
- The pros
- The cons

Starlette

[49er]

I was thinking starting up a Pay Pal account. Before I do, I'm asking for guidance:

- The benefits
- The pros
- The cons

Starlette

HI Starlette,

Having one has enabled me to buy masks cheaply from sellers on Craig's List and from people on the forum who were selling them.

Cons - I find the navigation of paypal a royal pain in the neck but that is just me:)

Why do you want to start one?

49er

[stage0]

Starlette....I have great news for you...fantastic...worthy of front page print. I have had a Paypal acc't for years with only one problem concerning a poor vendor. Paypal got my money back. And And And Paypal/Ebay have another company called BillMeLater.com that (if you qualify) will put you on a 6 months to pay with no interest. NOW how does that sound. I think I deserve a finders fee for this one.

[qmx]

Dear Starlette, I have had a PayPal acct for years and have never had a problem. The convenience is well worth it. Have a great day. DEAN

[b360155]

Check out the link below. My main reasons for using it are reasons #1 (credit card seccurity for online purchases) and #3 (ability to send money to friends and relatives without having to send a check in the mail). I'm not aware of any cons and I've had an account for about 7 years now. Opened it originally to facilitate eBay purchases and they keep expanding the number of ways it can be used to pay for things...and also reason #6, the service is free.


http://www.tipsandtricks-hq.com/7-advan ... nline-2668

[Madalot]

Interesting you should start this thread...

The ONLY con I've ever encountered happened this week. I sent a box of beauty products to a friend and she paid for shipping using paypal. She sent me $30 but because of the way she entered it, paypal took a $1.17 fee out of my money and only credited my account with $28.83. When I told her, she went and entered another payment of $2, keyed it differently (I don't remember the specifics) and I got the entire amount.

I don't use paypal often, usually only the rare time I purchase something on ebay. But I like having it when someone needs to send money but doesn't want to send a check.

[xenablue]

We've been using PayPal for a long time and never had an issue with it. In fact we look for that method of payment as it's much safer than using a credit card.

I don't know of any 'cons', although it takes a while to navigate their site for your account stuff.

Cheers,
xena

[Slinky]

What does PayPal charge to send money to a family member? I can send money to a family member via my credit union savings account to my family member's bank account at NO CHARGE.

[zoocrewphoto]

Paypal charges the recipient UNLESS it is sent as personal AND from a checking account. If you pay with a credit card, the recipient will be charged a fee, even it is marked as personal.
If you want to pay from a credit card and NOT charge the recipient, you can pay extra to cover the fee. Paypal will tell you the amount of the fee and give you that option.

Keep in mind that this is a business. They aren't going to do all transactions for free, and the credit companies will charge for credit card transactions. Paypal isn't going to take a loss on transactions.

I got my paypal account years ago so that I could buy and sell via ebay with ease. It has worked great. A few years ago, I started accepting credit card payments at cat shows for my small business. I use another company for that, similar to paypal (now paypal and other companies offer this same service). I pay a fee for each transaction when I accept a credit card payment, but it is well worth it since I can get many sales that would not have happened. It also means I don't have to accept checks from spectators as I really can't afford to go after them if the check is bad. I do accept checks from cat show exhibitors since they are much easier to track down at the next show.

Just a couple days ago, I sent money to a friend to pay for some cat food my sister order. I always make sure I use money from my paypal balance or checking account when sending money to a friend. I use a credit card when purchasing something.

[Madalot]

Paypal charges the recipient UNLESS it is sent as personal AND from a checking account. If you pay with a credit card, the recipient will be charged a fee, even it is marked as personal.

If you want to pay from a credit card and NOT charge the recipient, you can pay extra to cover the fee. Paypal will tell you the amount of the fee and give you that option.

Just a couple days ago, I sent money to a friend to pay for some cat food my sister order. I always make sure I use money from my paypal balance or checking account when sending money to a friend. I use a credit card when purchasing something.

Thank you for this explanation! This is excellent information to have for the future!!

[Slinky]

Thank you. I just remember years ago when my son's dorm caught fire and I wanted to send him some money Western Union charged $10 or $15 for each $100 sent. The Union 76 truck stop charged somewhat less so probably it was WU that was $15 per $100 and Union 76 that was $10 a $100. I just remember the 2 fees which I thought were outrageous. And you could ONLY submit CASH, not pay by cash or credit card.

[Lizistired]

I've used paypal for about 10 years with no problems. I set it up for ebay but I use it whenever it is an option for online purchases.
I have it linked to a bank checking & credit account that I only use for online purchases and not my primary, so it's easier to track.

[Uncle_Bob]

What does PayPal charge to send money to a family member? I can send money to a family member via my credit union savings account to my family member's bank account at NO CHARGE.

I think when you send money you have some choices like "gift" or "business transaction" etc. Some choices have fees, some don't.

And to add another twist sometimes its the recipient that gets the fees deducted from the expected amount without the sender being aware. Thats really wrong. We purchased and sent $400 worth of hunting gear to a family member in the UK. He sent us a paypal amount of $400. After the fee we received $20 or $30 less than that, the family memeber was completely unaware and thought he was paying us back $400.

[BlackSpinner]

I have had PayPal for years too for business reasons. For a long time it was hooked to a separate bank account with very little in it for security reasons. I have, however, never had any problems. I use it to receive money for my art work but also now to pay contractors for renovations.

NOTE: There are a lot of scam artists out there who will sens you emails that you have to click on "this link" to "fix a problem with your account" NEVER EVER click a link to your account EVER! PayPal and your bank never sends emails like that. Always go to your account by using a book mark or typing to address into the bar.

[Thetoolman]

FOR me Pay Pal and ebay is the best thing ever