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post #1 of 9 (permalink) Old 07-09-2003, 10:09 PM Thread Starter
 
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Can Someone Explain paypal

If I bought something off ebay does it immediately take it out of my account from the bank or does it do it at the end of the month or what exactly happens. I see theres a balance that says 0.00 and my purschase is uncleared and the limit is 500 but my purchase was 118 but what does all that mean? Thanks
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post #2 of 9 (permalink) Old 07-09-2003, 10:44 PM
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Paypal is like a middle man. If you make a purchase, and do not have funds in your account, it will directly (and immediately ) withdrawl the funds from your bank account.

When you recieve money, it stays in your paypal account until you take it out (which can take time to process).
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post #3 of 9 (permalink) Old 07-09-2003, 10:52 PM
 
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When you sign up for PayPal, you give them your BANK account info. When you make a purchase using PayPal they will take the money from your BANK account right away but may take a day or so to verify the transaction(hence the "uncleared").

The balance you see (0.00) is your PAYPAL balance. Say you sell something(or deposit money from you BANK account), The money you receive will show up in your PAYPAL account. From there you can transfer the money to your BANK account.

As for the 500 limit....Im not sure what that means. Sorry!
I hope this helped.

Last edited by DodgeSXTgirl; 07-09-2003 at 10:56 PM.
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post #4 of 9 (permalink) Old 07-10-2003, 01:02 AM
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I think money comes out of your account right away....It does when I have puchased things....are you linked to your bank account or a credit card? It still shouldn't matter, when the request for payment comes in and you submit your payment money should transfer then.

Last edited by intrepitor; 07-10-2003 at 01:07 AM.
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post #5 of 9 (permalink) Old 07-10-2003, 09:15 AM
 
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The $500 limit is because he hasn't provided them a bank account, only a credit card, making his account "unverified". You can use the account, but the total amount of money you can send/recieve is $500 (total, not each transaction). When you buy something on eBay and want to pay for it using PayPal you have to go in there and "send" the seller the money. Just winning the auction will not automatically send money from your PayPal account. If you are subtracting funds from your bank account it will take some time for the transaction to clear, just like writting a check. You can write a check to Walmart for some clothes, then run home and check your account, but it won't show the money subtracted. That won't happen for a few more days after the check has been cashed and everything has cleared your bank account...
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post #6 of 9 (permalink) Old 07-10-2003, 06:16 PM
 
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As dbaudiopro said, if you are using a credit card it will show up as unverified but you can change that. After a bunch of ebay transactions my account is now unlimited. I'm not sure thats such a good thing though.
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post #7 of 9 (permalink) Old 07-10-2003, 09:45 PM
 
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Quote:
[i]... You can write a check to Walmart for some clothes...[/B]
Ewww! You can buy CLOTHES at walmart?
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post #8 of 9 (permalink) Old 07-11-2003, 07:13 AM
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Paypal...........the reason I spend soooo much $$$ on upgrades for the R/T :( DAMN THEM ALL! :p



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post #9 of 9 (permalink) Old 07-11-2003, 03:21 PM
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Quote:
Originally posted by Avenger
Paypal...........the reason I spend soooo much $$$ on upgrades for the R/T :( DAMN THEM ALL! :p
I know what you mean, Rob. Ebay and Paypal are a powerful one-two combination punch that can knock your credit limit right on it's ass. Hi, I'm Al and I'm an Ebay-holic... :bigsmile:
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