Paypal question

V

vick-e

New member
I am new to paypal and paying things online. I tried emailing paypal like a month ago and 2 weeks ago but never got an reply.



Well my question is, do i need online banking to deposit money into my account?



Or can i go to my local bank and deposit money into my paypal account that way?
 
i assume you are asking how do you add money to your paypal account?



from the paypal help section



Q: How do I add funds to my PayPal account?



A: If you have a confirmed bank account, you can add funds to your PayPal account via electronic funds transfer. After you initiate an electronic funds transfer, the funds will become available in your PayPal account within 3-4 business days. You will receive an email confirmation every time you add funds to your account. If you do not wish to add funds to your PayPal account, you may send a PayPal payment using a credit card or Instant (bank account) Transfer.
 
You need your routing number and account number from your local bank. You give Paypal that information and they are able to electronically withdraw money from your local bank. If you don't have online banking, you'll have to call your bank and get the amounts of the small test deposits that Paypal makes to verify your account (assumption is that if you have access to the bank statements that the account is yours, they won't let you take funds from just anyone's account).



Have you ever done electronic bill paying for your utilities or credit card? Works much the same...
 
For what its worth, I would NOT use your primary bank account for PayPal for security reasons.



It would BLOW big time if someone got your account ino and drained your primary checking or savings account.



I set up the most basic savings account that has no fees attached to it. I use it just for PayPal when I can't use my credit card through PayPal. As I need money in that bank account for purchases made through PayPal, I transfer funds into it from my checking account.
 
Since they are owned by Ebay, they aren't the most reliable organization out there. I would agree with NOT using your primary account to transfer funds to and fro.



There was a huge class action against PayPal a few months ago in regards to shady activity such as selling your email address and other nefarious acts, so be careful.



Sometimes, though, PayPal is a necessary evil.
 
PayPal will take alot of money from you in fees, they take about $11 for every $400 someone sends you, that is unacceptable.
 
show me a way to accept visa, mastercard, and american express for cheaper. Sites like ebay are in business only because of sites like Paypal that allow you to pay an average joe with a credit card. Paypal charges around 2% to accept credit cards. That is not unreasonable. What part of 2.7% ($11 out of $400) do you find unreasonable? Perhaps you would like them to allow you to use their service for free? ATMs charge more than that sometimes. I take out $20 and get hit with a $1.50 ATM fee. Now THAT is robbery. Paypal is very reasonable. Plus you can attach a debit card to your account that gives you access to your money wherever they accept mastercard. You get cash back on that too. And you get interest on the money in your paypal account. Let's see... reasonable percentages to accept credit cards, they pay you interest on the ballance of your account, you get cash back when you use the debit card.... I'm just not seeing the problem here.
 
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