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Paypal

Discussion in 'Help Forum' started by aleldtritch, Aug 4, 2003.

  1. aleldtritch

    aleldtritch Peasant

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    There have been some services online and auctions on ebay that I regreted not being able to buy, so now that I have a mastercard, I figured I'd get a pay-pal account. I know absolutely nothing about Paypal, so I have a few questions.

    1. How old do I have to be? I'm exactly 1 month shy of being 18.

    2. How does it work? Do I transfer funds to a paypal account, and then use those funds to make my purchases? Or does it do all the work for me, and all I need to do is tell it the amount of money to take out and my info.

    3. Should I get the 'premier account' or not? And if so, what are the charges?
     
  2. Haite

    Haite Forum Moderator

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    I have no idea about specific features, I imagine those are answered by PayPall. However, as I understand, it works like a kind of credit card escrow service. They charge your card, and then pass the funds on to the seller, for a small fee. Thus, in cases of fraud, complaints can be filed through PayPall.
     
  3. cowofwar

    cowofwar Peasant

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    Just get the regular account, and make sure you don't carry a balance. Just use it to buy crap.
     
  4. kraahl

    kraahl Peasant

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    I thought it was more like, you transfer fund to you paypal account (bank transfer, via credit card etc.) and then you buy crap.
     
  5. BaleFire

    BaleFire MSC Footman

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    as far as age goes, even if you have to be 18, there's nothing to stop you from making an account if your not as long as you have a bank account. Just go to the bank and ask them to give you your account number and routing number, that's all you need.
     
  6. cowofwar

    cowofwar Peasant

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    You can create a balance by withdrawing funds on your credit card, but normally you would just purchase something with paypal and they'd charge your credit card directly.
     
  7. SirFragsMore

    SirFragsMore Peasant

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    i went to their was site and went to fees, looks like its free. I'm not sure how they make their money, but they do. So be aware of that.
     
  8. Jakeman

    Jakeman MSC Founder and Donator

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    sending is free, but they take a percentage of all money coming into their system. Since the vast majority of paypal transfers are FROM a paypal account TO a paypal account, they make lots of money on all of the incoming transfers. They literally make their money by subtracting from a number in their database (the sender's account) and adding to another (the receiver's account).

    I think it's about 3% on an incoming transfer. So if you send me $100 to my paypal account I only see $97.
     
  9. DunAzrael

    DunAzrael Peasant

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    So, wait, are we talking about online trading services or coffin deilvery options and services?
     
  10. Vokbain

    Vokbain Peasant and Donator

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    Actually, somebody is accusing me of fraud as we speak. :D
     
  11. Vokbain

    Vokbain Peasant and Donator

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    Only on Premium accounts. On regular accounts, there is no fee.
     
  12. Jakeman

    Jakeman MSC Founder and Donator

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    yes there is.

    edit: they must have changed it for personal accounts

    the majority of paypal transactions are cc, so it basically isn't free.
     
  13. kraahl

    kraahl Peasant

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    Why would you want a premium account then?
     
  14. Haite

    Haite Forum Moderator

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    To get rid of the fees. If you make a lot of high value transfers, such as for an online business, then the fees can outweigh the cost to upgrade accounts.
     
  15. kraahl

    kraahl Peasant

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    But there are no fees for the regular account, only for the premium one.
     
  16. Haite

    Haite Forum Moderator

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