How does Paypal work in classifieds section?
 

I'm thinking of listing some classified items for sale. I noticed a "Paypal" option for payment. How does it work? What information must I share with the buyer for him to pay me with Paypal? (and still maintain my security information) Would I need to notify Paypal?

Thanks

Here's cliff notes on Paypal. (forgive me if I left something out as it's been since it existed since I registered)

Register an account on paypal.com. Enter your checking account info to tie your checking account to your Paypal account. If you're going to use it alot like me for eBay, forum transactions, etc., then it's beneficial to add a credit card to the account as well.

All you need to give a buyer is your e-mail address that tied to the paypal account. The buyer uses their account to transfer funds to your account via your e-mail address. Once payment is received your will have the ability to transfer to your bank account (it takes 2-4 days usually). OR, you can request a paypal debit card and spend the funds that way.

Thank you for your kind reply. A question, though. I do have a Paypal account with my VISA card registered to it, but not my bank's checking account. Will they credit my VISA with the funds deposited by the buyer?

No problem.

It appears that your only withdraw options are to transfer to your bank account, or request a live check from Paypal.

The seller can also issue the buyer a PayPal invoice by email and then all the buyer has to do is click on the link and authorize the payment.


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or you can just simply leave the $ in your paypal account to use at a later time, you don't have to withdrawl your $ every transaction.
of course unless it's a large amount that you don't want sitting in there, paypal is very user friendly & there CS is really good too.