Cash in Paypal

CivilServant

For paypal users and those who know, what interest is charged when I want to transfer funds from the credit card into the paypal account. Is it the same as withdrawing cash from a credit card? Or is it similar to a credit purchase?

DMT

www.paypalsucks.com tbh

CivilServant

True, paypal can indeed suck very much. It's best to find out who you're dealing with and get past user experiences with the person/company you're buying from. That limits the risk.

There have been several very enticing offers on the net that seemed too good to be true, super expensive items at knockdown prices. And in the end it was. My advice is not to get caught up in the moment and wait at least a few days, do some research and see how you feel about transacting. If you're still confident about buying then go right ahead. I've done it this way twice, once from the US and once from Australia, but I'm not ruling out the possibility I could get screwed in the future.

Have you had any experiences with paypal?

GreeBo

No interest is charged, its the same as buying with credit, because thats what you are doing in reality.

I cant see why people have a problem with paypal if they get screwed by someone they pay.

If you get done in a shop, do you blame the bank??

As was already stated, check the person you are dealing with.


Paypal is much cheaper/better than westernUnion/bidpay or bank transfer charges INHO.

CivilServant

Here's the thing, there's 2 options to choose from:

A. Cash from paypal.
B. Credit Card via paypal with a 3.3& surcharge.

So can you transfer cash into the paypal account from your credit card thus relieving you of a 3.3% surcharge?

Depending on the cash withdrawal interest of a typical credit card. Which would be better value?

GreeBo

who is charging you 3.3%?

CivilServant

The company I'm buying from charges 3.3% for dealing with credit card via Paypal. But if the cash is lying in my account they "apparently" can process that without any extra overhead.

GreeBo

Sounds like a pile of monkey-bottoms to me personally.

then, use your credit card to "lodge" the amount into your paypal account. Then use that "balance" to pay these goons?

Coz as far as I know, or can understand, money in paypal, is money in paypal.
They will get charged if they have a fancy corporate/business account, but that will happen no matter what.

Also, you will get charged 2.5% if there is a currency conversion.

CivilServant

Ah they're not goons, they just come from a land where electronics are half price, booze flows freely from any tap and import duty doesn't exist Thanks for your help redoxan.

GreeBo

Damn those pesky Germans and their cheapness!:)

Guy:Incognito

sorry for being a bit thick but i cant for the life o fme foind the option in paypal to let me pay money into my a/c from a credit card. thanks in advanc4 for any help

CivilServant

Actually there's isn't a way unless you get an american bank account. Discovered this while fumbling about paypal. The uk paypal will probably accept a uk account, less hassle but still hassle to get one.

Guy:Incognito

im a bit lost now cos wen i signed up i was under the impression i cud just give them credit card details and transfer money.

Ste.phen

Originally posted by CivilServant
The company I'm buying from charges 3.3% for dealing with credit card via Paypal. But if the cash is lying in my account they "apparently" can process that without any extra overhead.

If the money is already in your account (i.e someone sent it to you or you added it from a bank account (only USA users can do this) they can receive your payment to a "Personal" paypal account with no charges from paypal.

If, on the other hand, you'll be putting the money into your paypal account from a credit card, paypal require the seller to have a Business, or Premier account.
On this type of account the seller is charged to receive payments, i think its 50c + 2.4% or something like that, i cant remember off-hand.

Having you send cash thats already in your account is a way for the seller to avoid being charged by paypal to receive teh money.

Ste.phen

Originally posted by Stekelly
im a bit lost now cos wen i signed up i was under the impression i cud just give them credit card details and transfer money.

when you log in there should be a thing on the left hand side with "things to do to fully activate your account", or whatever, one of those links is "add a credit card".
otherwise it can be done in the setup part somewhere.

Guy:Incognito

Originally posted by Igy
when you log in there should be a thing on the left hand side with "things to do to fully activate your account", or whatever, one of those links is "add a credit card".
otherwise it can be done in the setup part somewhere.

yeah ive got a credit card set up and all. wen i go to the "pay for ebay items" part it comes up(after i enter details) "This transaction exceeds your remaining sending limit. Please complete your enrollment in the Expanded Use Program. You will then be allowed to send more money." now i bo my balance is €0 but i thought u could make it bill ur credit card. It says there is a limit of €750 but the transaction only comes to €430 so its not that. it says "Expanded Use Number" so will it work after i enter this the only thing is that,the only advantage u seem to get from giving them $2 and signing up for an expanded user a/c is that there isnt a limit on the amount u can send. either way i have to wait on the credit card statement to get the number off it. my main problem is that there isnt a section where i can click to pay the €430 into my paypal a/c just like doing an online sale. then i could just transfer the money tyo the guy

Ste.phen

Originally posted by Stekelly
yeah ive got a credit card set up and all. wen i go to the "pay for ebay items" part it comes up(after i enter details) "This transaction exceeds your remaining sending limit. Please complete your enrollment in the Expanded Use Program. You will then be allowed to send more money." now i bo my balance is €0 but i thought u could make it bill ur credit card. It says there is a limit of €750 but the transaction only comes to €430 so its not that. it says "Expanded Use Number" so will it work after i enter this the only thing is that,the only advantage u seem to get from giving them $2 and signing up for an expanded user a/c is that there isnt a limit on the amount u can send. either way i have to wait on the credit card statement to get the number off it. my main problem is that there isnt a section where i can click to pay the €430 into my paypal a/c just like doing an online sale. then i could just transfer the money tyo the guy

This "expanded use" thing is a new feature / restriction on the site as far as i know... i'm not too sure about how it works or the relevent spending limits, but i cant see how 430 would require more verification, i've sent more than that before with no trouble. (again this could be a new thing).

There isnt a way to just transfer money from your credit card to your paypal account, as far as i know, i'm sure theres reasons for this, especially in the US were you can get a paypal ATM card, and if you were allowed do this you could, in effect, get a cash advance on the credit card at the same rate as purchases. Theres probably security reasons too?

By the way i'm not a paypal expert, this is just my own experience of paypal, their help section is usually pretty thorough?

Guy:Incognito

i believe theres a way of paying a private individual thru payppal wit a credit card ( which could be what im looking for) where basically paypal act like the go between and turn my credit on the card into cash for the other guy (im going on the assumption here that the guy doesnt have his own personal credit card terminal and if he did id b more than a bit suspicious) without the money actually going into my paypal a/c but i could b wrong, have you had any experience using this. cheers hope im not making you feel like a paypal rep r anything

Ste.phen

sorry, kinda let this thread die.

Looking at my account in advanced view, i get this impression: when i "pay" someone from my credit card, paypal charge my CC account, put the money into my paypal account, and send it from there to the seller.
i've no direct dealings with the seller, nor can i just put money into my paypal account (from my credit card) without sending it to someone immediately.

i think if the seller were to refund me, they put the money back onto my credit card instead of into my paypal account, not 100% sure about this though.

If you're trying to send money to someone for stuff other than ebay items, you'll probably ave to send it as a "yahoo" auction payment with a fake item number, they dont let you send cash "just cos".

You're probably better off enrolling in the expanded use programme, they charge you 1 or 2 euro, and all you need to do is give them a code which appears on your credit card statement beside the charge, took about 3 days for me (BOI mastercard).

GreeBo

A refund goes back into your paypal account and sits there if you just have a normal account.

This might change with the UK based Paypal.

They dont care what you want to send money for.