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.
Last edited by PVolk; 11-28-2012 at 12:21..