Question about Paypal???

silverandvinyl

If I'm the seller why do I have to sign up for paypal?Here's why I'm asking.
I sold some coins on E-Bay.The buyer used paypal,here I am waiting for payment when I receive a E-Mail from
paypal saying my money is with them and in order for me to have it I have to sign up as a member.The trouble is,I do not want to sign up because I do not want any part of paypal.Being a member of E-Bay is bad enough.Do
I really have to sign up to get the money?
Silverandvinyl

arlea1957

Short answer is no... email the buyer and tell him you don't accept paypal,, which I assume was in your listing anyway or else stated check money order etc. He can cancel the paypal and send a money order.

relayer

Yes you have to sign-up for PayPal if you use PayPal.

How else would they know where to send your money

silverandvinyl

I forgot to mention thisaypal has had my money for 4 1/2 days.

JrGMan2004

When you go to pay for an auction, they tell you "Seller doesn't have a PayPal account? Still send payment to there e-mail address" or something like that... so, you send the money, and PayPal sends them an e-mail telling them they can sign up and get their money...

If you don't wanna accept PayPal, e-mail the buyer and tell them such, and point out to them the terms of the auction...

silverandvinyl

I have never joined Paypal.I've never used them myself.I can understand signing up to send money but not to receive it.So,why do I have to be a member to receive it.All Paypal has to do is send it to me like the buyer said.After all that's why the buyer put the money in that account so they can send it.
Thanks..silverandvinyl

ddink

<< <i>All Paypal has to do is send it to me like the buyer said.After all that's why the buyer put the money in that account so they can send it. >>



Because those are the rules. How in the world would PayPal send you a check without knowing your address, anyway? If you don't want to sign up with PayPal, tell the buyer to reverse the payment and send you a check.

silverandvinyl

Relayer:To answere your question:The buyer gives them all the information needed to close the deal.Meaning
this,The sellers name,address,Item # , item description and the Total amount due.Once Paypal knows the buyer has money in that account to cover the Item,they mail out the check to the seller.
Thanks
Silverandvinyl

Russ

<< <i>So,why do I have to be a member to receive it. >>



Do you have to be a member, (provide the necessary information), to use a credit card? If PayPal just let anybody receive money and use their system without verifying who they are the fraud would be so rampant they'd soon be shutdown.

Besides, as a seller you're slitting your own throat by not accepting PayPal. Better than 95% of buyers use it.

Russ, NCNE

ddink

<< <i>Relayer:To answere your question:The buyer gives them all the information needed to close the deal.Meaningthis,The sellers name,address,Item # , item description and the Total amount due.Once Paypal knows the buyer has money in that account to cover the Item,they mail out the check to the seller.
>>



That's not how it works. The buyer gives them your email and the amount to pay. That's it. No clue where you got the idea that PayPal worked differently.

silverandvinyl

Russ:I never had a problem with any buyers when it came to what type of payment structure I have.I did notify the buyer and told him what was going on.I have not heard from him yet.
Thanks
silverandvinyl

silverandvinyl

ddink;When I received the E-Mail from Paypal they had the E-Bay Item # listed.They could only get that from the
buyer.I didn't give it to them.
Thanks
Silverandvinyl

Russ

<< <i>Russ:I never had a problem with any buyers when it came to what type of payment structure I have. >>



No problem but for the fact that many buyers are simply ignoring your auctions and your realized prices are lower than they would be if you accepted PayPal. But, hey, if you have no desire to maximize your profits, that's your decision.

Russ, NCNE

F117ASR

<< <i>No problem but for the fact that many buyers are simply ignoring your auctions and your realized prices are lower than they would be if you accepted PayPal. But, hey, if you have no desire to maximize your profits, that's your decision. >>



So true. I see auctions that don't accept paypal all the time. They sell for way less than the others who do accept paypal. Hell even I ignore them. It's a pain in the behind to go and get a money order. I hate recieving them too. It's easier on both you and the buyer.

tlhoy

<< <i>

<< <i>Russ:I never had a problem with any buyers when it came to what type of payment structure I have. >>



No problem but for the fact that many buyers are simply ignoring your auctions and your realized prices are lower than they would be if you accepted PayPal. But, hey, if you have no desire to maximize your profits, that's your decision.

Russ, NCNE >>





If you don't accept Paypal I wont look at your auctions.

ddink

Silverandvinyl:

In order to send or RECEIVE money from PayPal, you have to have an account. That's the bottom line. Either sign up for one or tell the buyer to send the money via a different method.

And yes, you are losing lots of money not accepting PayPal. I do not bid on auctions that don't take PayPal, and *MANY* people are just like me in that regard.

silverandvinyl

All you guys are sure making a case for PAYPAL.Now I have to think about it.Now this question,if I join Paypal as
a seller,am I charged the same fee as the buyer?

Russ

<< <i>if I join Paypal as
a seller,am I charged the same fee as the buyer? >>



Buyers pay no fees. The seller pays 2.9% plus 30¢ per transaction. Lower if it's a high volume business account.

I used to refuse to accept PayPal. Once I started using it, I saw a dramatic increase in bidding activity. The vast majority of bidders pay with it. For example, last night I had 16 auctions close. Only one is mailing payment, the other 15 have already paid by PayPal. The results are similar with every group.

Russ, NCNE

silverandvinyl

Russ:Now that I signed up for paypal,how do I get my money??.Last week I had 19 items on e-bay(all coins) I sold 17 and pulled 2 off.Just one buyer wanted to use Paypal.

Russ

<< <i>Last week I had 19 items on e-bay(all coins) I sold 17 and pulled 2 off.Just one buyer wanted to use Paypal. >>



Last week you weren't accepting PayPal so, of course, you didn't have many buyers trying to use it.

Once it's listed as a payment option in your auctions, the majority will.

Russ, NCNE

majorbigtime

Paypal = rip-off IMO

silverandvinyl

The negative features about paypal are:#1. The seller has to pay the fees,it should be the other way around.#2
It belongs to E-Bay,and that alone will kill you with FEES.#3 It takes a week to 10 days to get your money.#4You can not talk to anyone but their FAQ's.#5.If you list many items on E-Bay the cost will double or triple.(E-Bay owns
paypal).After this transaction with paypal I will Discontinue it.
Silverandvinyl.All I can say is,"I've been doing pretty good without paypal."Check my feedback on E-Bay."
"MOPHEAD 13139"

ddink

What are you talking about when you say that PayPal fees double or triple when you list lots of auctions on eBay? That doesn't make any sense. PayPal fees are always 2.9% + $.30 per transaction (unless you thousands in business per month, and then the fees are lower!).

PayPal is good in that you get your money within 2-3 days if you have direct deposit into your bank, and it saves the buyer time. It also gives a small amount of protection to both parties. There are many horror stories (do a google search) but I've never had any problems. I like PayPal

Fact: Many people will see you don't take PayPal and your items will sell for less as Russ said. The more bids you get by taking PayPal more than makes up for their fees, IMO. But of course, to each their own. Best of luck!

P.S. How much business would Wal-Mart get if they had a big sign that said "No credit cards, debit cards, or personal checks. We accept cash, money orders, or cashier's checks ONLY!!!!" After all, there are costs associated with accepting checks (naming tracking down users of hot checks) and every time you use your Visa/Mastercard/American Express/Discover or whatever other type of credit card you have, the MERCHANT (not the customer) gets slammed with a 2% surcharge. It's known as "the cost of doing business" and is more than made up for by increased sales volume due to the convenience of paying with credit card (in the case of Wal Mart)...or in your case, by more bidders, which means your auctions sell for more.

Rodius

I will say I look for paypal as a payment. It is easy and secure. AND if you keep a balance in the paypal account it does pay about 2% interest. Better than any bank, but it does fluccute. You can make back you fees that way if you keep a pretty good amount in the account. There is also a debit card attached to the account and you can get 1.5% back on purchases made with the card.

I would advise using it.

Gonfunko

Just a random thought - since ebay owns paypal, why can't you just sign up for both at the same time? In other words, why is a paypal account not just part of ebay membership in the first place?

NoGvmnt

" and every time you use your Visa/Mastercard/American Express/Discover or whatever other type of credit card you have, the MERCHANT (not the customer) gets slammed with a 2% surcharge. "

That statement is not entirely true, those surcharges are eventually added to the purchase price of the items that the retailer sells and then all customers pay higher prices whether or not they pay by cash or cerdit card.

Jim

BAJJERFAN

The point is that unless you set your price for an item when you list it on eBay so that you are guaranteed a profit AFTER ALL expenses are deducted you are pretty much in a potluck situation as to whether or not you will make any money. If you run a store you can figure those expenses in when you set your selling price. When you set a high starting price or a reserve on eBay you can do the same. If you start at $.01 with no reserve its a crapshoot. If yer garage saleing its not as big a deal as it is if you expect a profit on every sale. Then again it depends on what you are selling.

Russ

<< <i>:#1. The seller has to pay the fees,it should be the other way around. >>



Next time you go shopping with a credit card, make sure that you - as the buyer - offer to pony up some extra money since you - as the buyer - should be the one paying the fees.



<< <i>#2 It belongs to E-Bay,and that alone will kill you with FEES. >>



The transaction fees levied on a merchant for accepting credit cards (PayPal) are more than made up for by increased revenue. This fact is not even debatable. Ask anybody who runs a business.



<< <i>#3 It takes a week to 10 days to get your money. >>



Huh? You get your money instantly. If you want to transfer it to your checking account it averages two business days. This blows away the speed of only accepting payments by snail mail.



<< <i>#4You can not talk to anyone but their FAQ's. >>



Welcome to the world of online transactions.



<< <i>#5.If you list many items on E-Bay the cost will double or triple. >>



That makes no sense, but see #2 anyway.

Russ, NCNE

silverandvinyl

What I mean when I said the fees will double or triple is,E bay gets their share for every item sold and Paypal gets a fee for every transaction(from the members) that is run through their services.So If I had 10 sales for the week,and a member(buyer) or members run all of them thru Paypal your looking at fees that most likely would
Equal E-Bay's fees.Thats what I mean by doubling.
Thanks for the feedback
silverandvinyl

pharmer

As I recently began selling on ebay and used the advice given here to accept paypal, I am interested in this thread, but I cannot understand that explanation of doubling or tripling.

BAJJERFAN

Ebay charges around 3% and paypal charges about 3% so by accepting paypal for ebay auctions you have doubled you fees from 3% to about 6%.

pharmer

Thanks, I had not seen ebay's approximate overall fees quantified before. I will mention that of the sales I have made so far, all but one have been paid immediately with paypal, which is what everyone who advised me said would occur.