PayPal - Help !

[smak786110]

Hi guys !
I jst got my first debit card (LOL).......
I wanted to know, as i hear everywhere....About PAYPAL !

- Is it necessary for card holders to sign for Paypal ? If so, why ?

- I will be receiving and sending money, just small small transactions....Which account should i go for, Personal Account or Premier Account ?

- When I receive money in my paypal account, does it go direct to my bank account where my debit card is ? and i can draw that cash from my bank instantly ?

(sorry, but am quite newbie to these cards and paypal ) :wave: :wave:

 

[nananas]

1) are you over 18?

 

[Joe]

Hello
It is neccessary for you to assign a bank account and credit card to PayPal so that your identify can be confirmed + verified later on. There are a few other reasons as well, such as using it as payment instead of your PayPal funds.

Personal Account is probably your best bet, but I suggest you compare the account types, especially if you expect to relieve credit card transactions.

The funds will go into your paypal, which then can be deposited into your bank account. This takes some time. The same goes for withdrawing money from your bank. There are also fees from doing so.

Hope this helped.
Joe

 

[Peter]

Hi guys !
I jst got my first debit card (LOL).......
I wanted to know, as i hear everywhere....About PAYPAL !

- Is it necessary for card holders to sign for Paypal ? If so, why ?

It makes it easier to buy from a lot of places online as a lot of places accept paypal payments.

Hi guys !
- I will be receiving and sending money, just small small transactions....Which account should i go for, Personal Account or Premier Account ?

A personal account is better but if I remember correctly you cannot get funds people used their credit card to send. With a premier account you incur fees for this service.

- When I receive money in my paypal account, does it go direct to my bank account where my debit card is ? and i can draw that cash from my bank instantly ?

The money stays in paypal until you request a withdrawal. The withdrawal can take up to 7 days but it does not usually take that long. If i remember correctly before you can withdraw you must setup a bank account with paypal.

 

[vatsan]

The money stays in paypal until you request a withdrawal. The withdrawal can take up to 7 days but it does not usually take that long. If i remember correctly before you can withdraw you must setup a bank account with paypal.

To add on to that, this 7days withdrawal is only when you are in one of the "big countries". If you are in China or India or any of the third world countries, its a nightmare to withdraw from Paypal. You can as well spend it on something online. PayPal sends checks in USD and for you to get it cleared in your country would take some ages. There are a lot of services out there which help you convert currencies and get it into your account in your own currency but even there, its not very reliable when it comes to big amounts and accountability is a total mess up there. The best thing to do is not to hold on to too much of balance on PayPal

 

[NwS]

Ehh something off topic about paypal though.. Is it possible to hide your name when you buy or sell something? :/

 

[Peter]

I don't think you can hide your name but you can stop the person getting your postal address.

Why would you want them not to have your name?

 

[vatsan]

Ehh something off topic about paypal though.. Is it possible to hide your name when you buy or sell something? :/

You cant hide your name when accepting payment but one thing you can do is to name yourself as a company and thereby they would just see your company's name

 

[CHILLY]

Your debit card at your bank is different from paypal, so you don't "have to" have a Paypal account with your debit card.
Personal account should suffice for small transactions, but read what the difference is on paypal.
Look at paypal as another bank, i.e. a place to receive, store and send out money. With paypal you can conduct a transaction immediately over the internet where you can send money or receive money directly into "your paypal" account. You can transfer funds from "your bank" account to "your paypal" account and vice versa. Paypal also has their own "Paypal debit card" that you can use at atm machines.
Paypal in use example:
Let's say one of the moderators puts Tom.com for sale for $100.00 firm ( :hehe: ) and you jump on that quickly :sold: but you only have $50.00 in your paypal account. Paypal will automatically withdraw funds from your bank account into your paypal account to make up the difference. This process takes maybe 3-4 days.

 

[smak786110]

ammmm.......hmmm....
I see....
So, what if I receive some income from Ad-Sense or I get sales......Is it very hard to transfer money from Paypal to my bank account if I am in third world country ?
Am in Africa...LOL !!!
I heard to keep money in paypal is not safe...thats why am asking !

ok...so if I dont open a paypal account....
and use my Debit VISA card alone for doing transactions for purchases and sales...
Is that ok and safe ?

 

[smak786110]

Whats the difference between VISA Card and VISA ELECTRON ?
Which one is better ?

 

[vatsan]

Whats the difference between VISA Card and VISA ELECTRON ?
Which one is better ?

I am not very good at this but I think a VISA Electron is one which can be used in ATM and as a Debit Card and VISA Card is the normal age old CC. If I am wrong, please let me know!

 

[smak786110]

but can VISA and VISA Electron be used anywhere where VISA sign is ?
also i mean online websites where they show VISA signs.......
or they differenciate btw VISA electorn and Visa ?

 

[Peter]

A visa is a credit card and a visa electron is a debit card. If you have a pin number both can be used in ATM machines.

The main difference between a debit and a credit card is that with a debit card you must have funds available but with a credit card usually you have a limit which you can spend without having funds available. Also here in the UK I believe you need to be over 18 to have a credit card in your own right.

I do not think that you can use a visa electron everywhere where you can use a visa.

 

[Zeeble]

A visa is a credit card and a visa electron is a debit card. If you have a pin number both can be used in ATM machines.

The main difference between a debit and a credit card is that with a debit card you must have funds available but with a credit card usually you have a limit which you can spend without having funds available. Also here in the UK I believe you need to be over 18 to have a credit card in your own right.

I do not think that you can use a visa electron everywhere where you can use a visa.

I have a Visa Debit Card.....

I think the difference is that a Visa will authorise the payment even if the money is not available in your account, whereas the Electron will not.

 

[smak786110]

I see....Also i heard about a card called Maestro !
Is that a good reputable card ? Can it be accepted where VISA card is accepted ?

 

[omnia]

I see....Also i heard about a card called Maestro !
Is that a good reputable card ? Can it be accepted where VISA card is accepted ?

Maestro is Mastercard (a debit card), similar deal to Visa, usually accepted in the same places as Visa, but not always, and vice versa

 

[Peter]

Maestro is Mastercard (a debit card), similar deal to Visa, usually accepted in the same places as Visa, but not always, and vice versa

I am not sure if Maestro run Mastercard but they do debit cards. The biggest debit card network in Britain used to be switch which is now under the Maestro name. In the UK Maestro is accepted almost anywhere where a card is accepted.

 

[smak786110]

My main intension was that if I take out a Maestro Card, will I be able to use it easily for online usuage like Paypal,Ebay,Domain business, etc ?