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Re: PayPal question? Posted by Scott Paterson [Email] ![]() ![]() ![]() In Reply to: PayPal question?, Jimbo, Thu, 29 Jan 2004 12:34:22 Members do not see ads below this line. - Help Keep This Site Online - Signup |
There are two kinds of PayPal accounts, free and not free. The free accounts can only accept a small amount of payments from other users who use a credit card as the source of funds. Perhaps now, the free accounts can't accept any payments of those types. If you upgrade to a regular PayPal account, it acts like a regular Merchant Account and Paypal takes a cut of every payment. It's very expensive, something like 3.5% compared to Visa/Mastercard which is under 3%. However, online users are finding it incredibly convenient to use PayPal. The linking to your bank account allows them to verify that you are who you say you are. They will make a couple of ver small depositis and ask you to look at your statement and tell them how much the deposits were. The idea being that only the account holder would be able to get that info... and then it makes it easy to transfer your PayPal funds into your bank account and there is no fee for that.
Hope it helps,
-Scott
posted by 64.139.3...
_______________________________________ Saabnet.com Webmaster Saabs Owned: 1973 Saab Sonett III (Current) 1983 Saab 900 Turbo 1985 Saab 900 Sedan 1990 Saab 900 1992 Saab 900S 1999 Saab 9-3 Turbo 2005 Saab 9-2X Aero (RIP 95K/Accident-guy ran stop sign) 2005 Saab 9-2X Aero (Current) 2007 Saab 9-3 SportCombi 2010 Saab 9-3X Wagon Winner 1996 Saab Owners Convention Rally Novice Class Winner 1999 Saab Owners Convention Rally (All Classes) Also Founder of two non-profits: Poverty2Prosperity.org RunClubMenloPark.org
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