Ok, I've been using Paypal for over 4 years now, I believe. I always clicked "add funds" to transfer funds from my bank account into my paypal account. That would take 5 days to happen. I'm curious, why do they need my credit/debit card for? Isn't there an instant transfer thing? If so, how do you do it w/ $0.00 in your paypal account? I have money in my bank acct, can I just click "send money" and they'll use my visa credit card to INSTANTLY transfer funds to the person who I'm paying? Or will it take 5 days for them to receive it due to the transfer process? Thanks.
Paying W/ Paypal???
- Thread starter Mean Mugg
- Start date
Well. I created a PayPal account like this week. I made my 1st payment yesterday. All I did was to click on Send Money. They just use your credit card and take the money directly from the account, as you thought. If such thinkg works, I always wonderred why would anybody use the option to transfer money from his bank account into PayPal account.
2nd thing: I wonder why ppl in US don't wanna share their bank account numbers. It'd be much easier to send the money that way, than using PayPal (it's just the middle man, you can do the same thing w/o it). Out here, in Poland, when ppl win (for example) a cd or a book on our equivalent to eBay, seller just sends his bank account number to the buyer. The buyer goes to the bank (or uses bank's website) and transfers the money directly to seller's account. Why isn't that common in US?
2nd thing: I wonder why ppl in US don't wanna share their bank account numbers. It'd be much easier to send the money that way, than using PayPal (it's just the middle man, you can do the same thing w/o it). Out here, in Poland, when ppl win (for example) a cd or a book on our equivalent to eBay, seller just sends his bank account number to the buyer. The buyer goes to the bank (or uses bank's website) and transfers the money directly to seller's account. Why isn't that common in US?
u can send money even if you have $0 in your paypal account. It will just take the money from your bank within 3-5 days.. it's kind of like the opposite of adding funds to your paypal account, but instead you get to "borrow" paypal's money.
How about trying to send some money with $0 balance in your paypal account and not have the sufficient funds in your bank. Tell me what happens after u try it! I always wondered that.. =)
How about trying to send some money with $0 balance in your paypal account and not have the sufficient funds in your bank. Tell me what happens after u try it! I always wondered that.. =)
^^^Well I can tell you that. You add a credit card to your PayPal account. So, when you pay with $0 on both accounts it's exatcly as if you paid with $0 in the restaurant. When you pay with the credit card, there's no way to check IF there are any means on your bank account. Assume you took $100 and now you have -$100 on your account.
Now there's a certain day in the month when the bank charges your account with all transactions (to me it's 15th). If it occurs that your balance is <$0, then you've just taken a credit in your bank (with certain % and stuff). And you have to pay em back the $100 and the percentage (shit, I don't know how's it called) in the certain time period. However if you somehow make the balance back to $0 till the 15th, then everything's ok.
Hmm... that's how it works in Poland, hope t was helpful. All I said was about credit cards, debit ones are different matter.
Now there's a certain day in the month when the bank charges your account with all transactions (to me it's 15th). If it occurs that your balance is <$0, then you've just taken a credit in your bank (with certain % and stuff). And you have to pay em back the $100 and the percentage (shit, I don't know how's it called) in the certain time period. However if you somehow make the balance back to $0 till the 15th, then everything's ok.
Hmm... that's how it works in Poland, hope t was helpful. All I said was about credit cards, debit ones are different matter.