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Discussion Starter #1
I’ve been thinking about selling some of my collections on ebay and I can’t figure out how I get my money. They want me to sign up for a credit card, but I don’t want another card and I don’t want to give anybody access to my bank account.
I use PayPal to buy stuff but they just charge it to my credit card. I don’t know that they can credit stuff to my card without me buying it with the card.
Anyway I guess I’m just too dumb to understand all the eBay instructions, because it sounds more like a job for a lawyer.
 

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i believe that if you have verified your account with a bank account (which iirc you are required for accumulated transactions over certain amount) you have option to have funds transferred to your bank.
else, it can also be mailed to you...

my assistant does this so i can ask him if you want.
unless someone else comes and chimes in.

i usually keep my money there as i'm always finding new things to buy...
 

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Well, I wouldn’t mind having a running credit if that is allowed, because I also buy a lot of stuff from eBay.

I just don’t want to have anybody depositing funds into my bank account. I saw a report on the news a few years back saying that anybody who has access to depositing can also withdraw money after a scam was discovered.
 

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Use PayPal. The money goes to your PayPal account, and if you need the cash, you can transfer it to your bank account. I leave money in my account to purchase tools, or gifts.
Thanks, I do have a PayPal account, but didn't know that I can just leave it ride. :yes:
 

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I got the PayPal debit card so when I sell stuff I can withdraw the money at any ATM. :smile:
 
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Old Methane Gas Cloud
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I just don’t want to have anybody depositing funds into my bank account. I saw a report on the news a few years back saying that anybody who has access to depositing can also withdraw money after a scam was discovered.
And there is the problem!

Also Pay-Pal can ding your account when someone complains. Someone has buyer's remorse. They complain to E-Bay that your sale wasn't on the up and up. Your funds are held until the dispute is resolved. Sometimes the dispute can drag on and on.

I'm sorry, but I'm way too cynical to have faith in the system.
 
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Turning Wood Into Art
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I just let it ride and use it to make payments.

Dave The Turning Cowboy
 

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Discussion Starter #10
And there is the problem!

Also Pay-Pal can ding your account when someone complains. Someone has buyer's remorse. They complain to E-Bay that your sale wasn't on the up and up. Your funds are held until the dispute is resolved. Sometimes the dispute can drag on and on.

I'm sorry, but I'm way too cynical to have faith in the system.
Now that you mention that, I do remember hearing someone complain about something like that. If my memory is correct, they said they had checks bounce as a result of the hold.
 

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The only way the check would bounce is if they only had that money transferred to their bank account and then there was a dispute that PayPal had the money pulled back out of your account. I order enough things on line that I leave it in my paypal account and do it that way. We purchase plane tickets with paypal, so it is not a big deal.
 

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I recently went to my bank and set up a free checking account that I use just for paypal. Now I can transfer funds from my Paypal account to my bank checking account with ease. I prefer to pay for my purchases through Paypal using my credit card which gives you a little more buyer protection.
 

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Discussion Starter #13
The only way the check would bounce is if they only had that money transferred to their bank account and then there was a dispute that PayPal had the money pulled back out of your account. I order enough things on line that I leave it in my paypal account and do it that way. We purchase plane tickets with paypal, so it is not a big deal.
Wow plane tickets! I was surprised to see HomeDepot now takes PayPal
 

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Discussion Starter #14
I prefer to pay for my purchases through Paypal using my credit card which gives you a little more buyer protection.
I agree with that and thats how I do it now.

I've been wanting to sell on ebay for years, but was just afraid of how it worked. Now that I'm so much closer to retirement, I need to start getting rid of stuff.
 

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We've sold a few small things just the past week or so, so I can't tell you quite yet if it all goes smoothly, but I can tell you that you may as well just sell some small things for pittances first to get your feet wet if you're nervous.
 

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There are really very few problems with Paypal if you are not trying to pull a fast one. I have been using it for the last 12 years, no problems, sale proceeds go into the account, purchases are deducted simple as that. If the balance reaches a certain threshold I transfer some of the funds to my bank account, if there are not enough funds for a purchase I have balance paid by my credit card.

When you purchase through paypal the seller receives only the funds, no information is given to them, you also have the added benefit of buyer protection on Ebay, if you don't get the article as described you can get a refund from Paypal, you don't have to deal with the seller.

With a merchant account you can put shopping cart or buy now buttons on your site, buyers can pay through their Paypal account or if they don't have an account pay with their credit card with Paypal processing it for you.
 

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PayPal works for me. I could transfer to the bank if needed, but haven't done so in years. Keeping the money in PayPal is my secret stash I use to get those items that would otherwise be frowned upon by the Mrs.

The holds I experienced we're only early on for larger sales amounts until I established myself as a legitimate (small time) seller.
 

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One thing to keep in mind is that there is a lot of phishing done with Paypal accounts, these guys are getting pretty good lately, perfect grammar and the layout looks legit, first clue is the message is sent to undisclosed-recipients, not personally addressed to you.
 
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