How Does PayPal Work?

[ABMorales787]

Lately, I've been needing to buy lots of stuff online. But I'm kinda sick of asking other people to do it, so I was told PayPal is my best bet for buying online. But I'm trying to figure it out. For one, I don't have a credit card but I understand you can transfer from your bank account. Somehow. Do you simply sign up and transfer? I'm a country boy so online shopping is a new thing for me.

 

[This Is My Name Thank You]

Try going to Paypal.com and read the FAQ. I heard Paypal isn't trustworthy any more. It is easy to commit fraud with it nowadays from what my friend was telling me.

I heard you sign up for it and put money into and account and that way you can pay for it that way. Your best bet would be to check the website out.

 

[Poop Master Flex]

I will say I've never had an issue with paypal and I use it quite a bit and never have had any issues.

What you do is you sign up, when you do this you now have a paypal account in which you can insert funds. From there you set up an account to transfer funds over (I use a chequing account), after you give all of your information about the account you wish to transfer funds to/from you can now add funds, or you can take funds out of your paypal account and stick it into your bank account. Usually the funds take 3-5 business days to make it from one account to the other (or 6-10 if you are Canadian like me). After the funds are in your paypal account (when they are in there they should send you an email confirmation) you can now use your paypal account to purchase stuff.

My only issue is I've seen lots of places that don't take paypal and only use credit cards. In any event I've never had issues using paypal so I have no complaints.

 

[Lee]

Try going to Paypal.com and read the FAQ. I heard Paypal isn't trustworthy any more. It is easy to commit fraud with it nowadays from what my friend was telling me.

Bollocks, PayPal is one of the safest way of sending money online, in the UK it is THE safest with a fraud level of under 1%.

I heard you sign up for it and put money into and account and that way you can pay for it that way. Your best bet would be to check the website out.

Or talk to someone who works for them.

What you do is set up a paypal account and you link either a bank account or card to it. What you can then do is one of three things:

1) Add money to your paypal balance and pay that way.
2) Pay with your bank account via paypal.
3) Pay with your card via paypal.

Now if you pay with balance it takes a few working days to clear in funds (UK 5-7) but if you go for card and bank it also takes 5-7 days BUT PayPal make the payment to the seller immediately, it is taken from your bank/card and the 5-7 processing time just goes to PayPal themselves. To put it in simple terms you can pay with your card through paypal and the seller will get the money there and then.

What paypal does is say "killjoy" paid you $50 rather than "Killjoy paid you $50 on card 4567389287569302.

You also have protection so if you buy something on eBay and the item doesn't come you will get a refund.

It's really simple to set up and use and really there aren't many problems with it at all.

 

[Davi323]

I have to back up Lee here...I work for an online retailer, and Paypal is by far our preferred method of payment from customers. They have a very good track record of catching potential fraud, if they didn't, we wouldn't use them. Are they perfect? No. But then again, nobody is. If your PC is properly protected with anti-virus software, so there aren't any backdoor trojans that can steal your PayPal password, you use a combination alpha-numeric password that you don't tell anyone, PayPal is very secure. If you are proactive when it comes to PC security, the odds of your PayPal account getting hacked are very low.

 

[Smooth Sexual Chocolate]

Paypal is boss, it's also a great way to accept payments when selling shit on ebay.

 

[¡Roján!]

Basically, it's like a middle man between your credit card and the retailer. So, like you only give Paypal you credit card info and they, in turn, when you pay for your item only show the email address you use. It's quite safe and most retailers accept it. It's awesome.

 

[Lee]

I have to back up Lee here...I work for an online retailer, and Paypal is by far our preferred method of payment from customers. They have a very good track record of catching potential fraud, if they didn't, we wouldn't use them. Are they perfect? No. But then again, nobody is. If your PC is properly protected with anti-virus software, so there aren't any backdoor trojans that can steal your PayPal password, you use a combination alpha-numeric password that you don't tell anyone, PayPal is very secure. If you are proactive when it comes to PC security, the odds of your PayPal account getting hacked are very low.

Pretty much this, outside of phishing/virus cases it's rare for this to happen. I've had mine for five years and haven't had a problem though I'm more biased now seeing as they pay my wages.

 

[ABMorales787]

Damn cool. Thanks for the aid.