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Old 07-14-2008, 04:52 PM   #1
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Default Paypal

Okay, so, I have a question.

I just got a checking account, debit card, ebay account, paypal account and all that fun stuff.

I verified it, and it still said my account balance was zip. So what I did is I went to add funds, and put in 130 dollars, said I had to wait 3-5 days for it to complete.

Okay but here is my question. Is paypal like an account in itsself, where you need to put money in it from your bank account to use paypal? I always thought paypal was more or less of a needed link to your account directly. Kind of like a 3rd party banking thing.

So whenever I want to use paypal I have to put money in it before I can use it, or no matter what the balance is in paypal, can I use it as long as I have money in my bank account?




I ask this because my parents never go to paypal.com and do anything to their account. They just kinda go to ebay and buy whatever they want. Which is why it didnt make sense when I had to add funds. I really dont get this. Someone who has used this before please clarify.
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Old 07-14-2008, 05:00 PM   #2
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Default Re: Paypal

The way I have my paypal set up is, its connected to my CC. At the end of every month I just get a bill for my CC & If I use paypal for some of my purchases, it will reflect it on the bill. My paypal balance is always 0, because money ie being transferred from my CC.

Hope this helps some.

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Old 07-14-2008, 05:02 PM   #3
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Default Re: Paypal

So, if I didnt put any money in my paypal, it would have just taken it straight out of my checking for the exact amount?

And instead I pulled out an about amount, and when I make my purchase ill be left with a few dollars and some odd cents in the paypal?
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Old 07-14-2008, 05:16 PM   #4
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Default Re: Paypal

Nah paypal isn't really like a bank account. Its more a payment processor, where if you want to make a payment it already has your cc stored instead of having to type it in each time.

You don't have to add money to it to make purchases, it just charges your cc each time
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Old 07-14-2008, 06:34 PM   #5
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Default Re: Paypal

Well whats the point of me adding money then? Evidently I didnt need too.
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Old 07-14-2008, 07:02 PM   #6
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Default Re: Paypal

There's no real point I guess, however now it'll use that money first and then charge the debit or credit card you have added for the remainder of your purchases.
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Old 07-14-2008, 07:10 PM   #7
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Default Re: Paypal

When you buy something with paypal the first place it gets money from is your paypal account. If you don't have any money in there it will then withdraw it from your bank account or charge it to your credit card, you can change the option when you pay for the item.

You don't need to add money to your paypal account, it's pointless to do so, since it will w/d it directly or charge to your credit card. You can also get a paypal debit card where you can use it anywhere credit or debit cards are accepted, you have to have money in your paypal account to use it though, it won't take it from your bank account. I have one......never used it though....lol
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Old 07-14-2008, 10:52 PM   #8
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Default Re: Paypal

The only point to being able to have a positive balance in PayPal is because you can also receive funds from someone through PayPal.
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Old 07-15-2008, 12:18 AM   #9
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Default Re: Paypal

Quote:
Originally Posted by Tommy Boy View Post
When you buy something with paypal the first place it gets money from is your paypal account. If you don't have any money in there it will then withdraw it from your bank account or charge it to your credit card, you can change the option when you pay for the item.

You don't need to add money to your paypal account, it's pointless to do so, since it will w/d it directly or charge to your credit card. You can also get a paypal debit card where you can use it anywhere credit or debit cards are accepted, you have to have money in your paypal account to use it though, it won't take it from your bank account. I have one......never used it though....lol

Thanks man, thats exactly what I was looking for.


Quote:
Originally Posted by hascet View Post
The only point to being able to have a positive balance in PayPal is because you can also receive funds from someone through PayPal.
Perfect. Makes sense. Ill always leave a few bucks in then I guess lol.
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Old 07-16-2008, 09:14 AM   #10
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Default Re: Paypal

Quote:
Originally Posted by hascet View Post
The only point to being able to have a positive balance in PayPal is because you can also receive funds from someone through PayPal.
You don't have to have money in your paypal account to receive money from someone else.
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