Any of you have PayPal Accounts? Pros/Cons about it?

LONGRD
LONGRD Posts: 6,036
edited March 2008 in All Encompassing Trip
I'm thinking of getting one. Would like to know some pros and cons about this system. The most important question is, is it safe to use?
PJ- 04/29/2003.06/24,25,27,28,30/2008.10/27,28,30,31/2009
EV- 08/09,10/2008.06/08,09/2009
Post edited by Unknown User on

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  • Get_Right
    Get_Right Posts: 14,206
    LongRd. wrote:
    I'm thinking of getting one. Would like to know some pros and cons about this system. The most important question is, is it safe to use?


    I use it for ebay purchases only.
    Yes its safe-but I wouldnt set it up through a bank account, only a CC with fraud protection
    if your a buyer there are no real cons
    I am not sure if they charge a % for receiving funds though
  • LONGRD
    LONGRD Posts: 6,036
    Get_Right wrote:
    I use it for ebay purchases only.
    Yes its safe-but I wouldnt set it up through a bank account, only a CC with fraud protection
    if your a buyer there are no real cons
    I am not sure if they charge a % for receiving funds though
    Cool thanks for the info, I'm currently in debt with my credit card bills though right now.

    Another question is, I see a lot people/foundations ask people to make donations/payments through the PayPal system; how does it work, do other PP user donate their money from their PP account to that person/organization?
    PJ- 04/29/2003.06/24,25,27,28,30/2008.10/27,28,30,31/2009
    EV- 08/09,10/2008.06/08,09/2009
  • sennin
    sennin Posts: 2,146
    Paypal is great! I've been using it since 1999. There are a couple of drawbacks....if you have a standard account, you can't get money if someone is trying to pay with a "credit card backed" account. If you have a Premier account, you can take credit card orders, but PP charges you a small percentage. I have a Premier account, I hate paying the fees, but they're pretty small compared to the speed and convenience of PP.

    It's great for Ebay, and alot of online stores offer PayPal as an option to pay....which is awesome for people who dont' have a credit card!
  • sennin
    sennin Posts: 2,146
    LongRd. wrote:
    Cool thanks for the info, I'm currently in debt with my credit card bills though right now.

    Another question is, I see a lot people/foundations ask people to make donations/payments through the PayPal system; how does it work, do other PP user donate their money from their PP account to that person/organization?

    The donation thing is really cool. It's basically just a money transfer. Your PP account is backed by your bank account or a credit card. So money is drawn out of whatever account your backed with.

    The people taking the donation has to have a PP account set up and you just make a payment to them.
  • LONGRD
    LONGRD Posts: 6,036
    sennin wrote:
    Paypal is great! I've been using it since 1999. There are a couple of drawbacks....if you have a standard account, you can't get money if someone is trying to pay with a "credit card backed" account. If you have a Premier account, you can take credit card orders, but PP charges you a small percentage. I have a Premier account, I hate paying the fees, but they're pretty small compared to the speed and convenience of PP.

    It's great for Ebay, and alot of online stores offer PayPal as an option to pay....which is awesome for people who dont' have a credit card!
    sennin wrote:
    The donation thing is really cool. It's basically just a money transfer. Your PP account is backed by your bank account or a credit card. So money is drawn out of whatever account your backed with.

    The people taking the donation has to have a PP account set up and you just make a payment to them.

    Hey thanks a lot for the info sennin. I'll probably sign up for the standard first because I usually don't shop online much...the last things I bought online were PJ t-shirts and a couple of PJ hats when I was in 10C between '01-'03. :D
    PJ- 04/29/2003.06/24,25,27,28,30/2008.10/27,28,30,31/2009
    EV- 08/09,10/2008.06/08,09/2009
  • Wobbie
    Wobbie Posts: 31,621
    I use Paypal almost exclusively for ebay, but it's also great when you purchase from some website that you are unlikely to ever purchase from again. I feel better not giving those "small timers" my CC info. Then again, if the hackers want your identity, they'll get it :(.
    If I had known then what I know now...

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  • Get_Right
    Get_Right Posts: 14,206
    LongRd. wrote:
    Cool thanks for the info, I'm currently in debt with my credit card bills though right now.

    Another question is, I see a lot people/foundations ask people to make donations/payments through the PayPal system; how does it work, do other PP user donate their money from their PP account to that person/organization?

    Yeah me too, but Im far from maxed out-always better to get the consumer protection from the cc

    I use a credit card to fund my pay pal transactions
    but I would guess you could do it through a bank account

    PP is not a bank like say ING-it is a service for processing web payments
    it takes cash from your cc and gives to the seller or org.

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