How does "paypal" actually work?

[Kentish]

I have just sold stuff on fleebay and have been paid.

When I registered my paypal account I went for a premier account for accepting larger funds and I registered my credit card (has inbuilt fraud insurance). I won't give out bank details over the internet unless I know the site is 100% secure.

I bought an item today too and appear to have paid OK.

But to be honest I still can't really see any info on paypal site as to how it works, I guess my CC is being used to pay for items I've won and is being credited with the items I have sold?

Does anyone know the ins and outs of paypal?

[ADDYBOY1982]

Kentish said:

I have just sold stuff on fleebay and have been paid. When I registered my paypal account I went for a premier account for accepting larger funds and I registered my credit card (has inbuilt fraud insurance). I won't give out bank details over the internet unless I know the site is 100% secure. I bought an item today too and appear to have paid OK. But to be honest I still can't really see any info on paypal site as to how it works, I guess my CC is being used to pay for items I've won and is being credited with the items I have sold? Does anyone know the ins and outs of paypal?

If you sell an item, PayPal puts it into your online account. You can then withdraw from this into your bank account.

If you buy something, the money gets taken out of the balance in your PayPal account to pay for it. If there isn't enough money in there, they take the balance from your credit card. If there is no money in there, they take the whole amount from your credit card.

[Pies]

Sort of,your cc pays for stuff you win,but the money from stuff you sell stays in your PP account you can move it out for free when its over £50 (i think).If you leave money in your pp account next time you buy something this money is used first then the rest drawn from your cc.
I dont think you can move money to your cc unless its a refund it has to go to a bank account

[Plotloss]

You dont know the sellers bank details and he doesnt know yours.

Paypal just acts as a clearing house where an email is used as both invoice and receipt.

The Paypal service merely underwrites and manages the transaction.

[Kentish]

Pies said:

Sort of,your cc pays for stuff you win,but the money from stuff you sell stays in your PP account you can move it out for free when its over £50 (i think).If you leave money in your pp account next time you buy something this money is used first then the rest drawn from your cc. I dont think you can move money to your cc unless its a refund it has to go to a bank account

Cheers Colin,

I'll have to register my bank account then to receive the funds.

I didn't mind it being credited to my CC but sounds like they don't do that

When you receive notification of payment e-mail, is it usually from paypal or the buyer? Just had an e-mail from what looked like the buyers e-mail address but the content looks like it is from paypal, is that normal?

The details all tie up and the e-mail address reflects the name of the winning bidder.

[Pies]

All notification is from paypal

[Kentish]

Pies said:

All notification is from paypal

Oh sh1t!

The e-mail came from [e-mail] and NOT paypal.

It had all the paypal stuff on the message and the links to the item this guy has bought and it has the invoice details and the correct price, buyers correct delivery address etc etc.

Damn, I hope I haven't just fecked up!

I opened it and opened the paypal account and accepted the payment via the link. Feck it!

.
.
.
.
.
.
.
.

Just checked out the links in the e-mail and it does go to genuine paypal page (checked URL).

I hope it was OK.




>> Edited by Kentish on Thursday 10th November 17:10

[miniman]

Kentish said:

Just checked out the links in the e-mail and it does go to genuine paypal page (checked URL).

Did you check the url in the email, or in the browser address bar once you'd clicked it?

[maserati3200gt]

read paypalsucks.com

Be Warned!

[Pies]

Go to your paypal account, you should be in credit (im assuming you sold something.
If its not you might have to accept the money,i had to accept the first lot of cash i received so you might have to as well
I doubt you have messed up as it sounds about right,but be carefull with paypal

[scared but happy]

I ONLY goto www.paypal.co.uk and thats it. I never use a link as I don't trust anyone!
infact after using it I logout and delete all my cookies etc.
I know I may be paranoid but..........

[Kentish]

Thanks guys, much appreciate the helpful posts.

It looks OK, there's a credit to my paypal account.

Phew!

[308GTB]

All well that ends well