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Paypal Questions

Alfonz24Alfonz24 Posts: 3,114 ✭✭✭✭✭
in Trading Cards & Memorabilia Forum
I just signed up for Paypal and someone said that I should have a second bank account specifically for Paypal. Do you all do this?

I also was bidding on Ebay and someone had payment terms (Paypal transfers only - no credit card payments). I thought Paypal also takes a % of transfers as well. Is this a way that the buyer is pushing buyers to pay by check or money order?

Thanks,

Alfonz24
#LetsGoSwitzerlandThe Man Who Does Not Read Has No Advantage Over the Man Who Cannot Read. The biggest obstacle to progress is a habit of “buying what we want and begging for what we need.”You get the Freedom you fight for and get the Oppression you deserve.

Comments

  • Webhead1968Webhead1968 Posts: 187
    A second account is smart. If someone was to get your info or hack your account they don't get your life savings.
    My Ebay Store
  • jradke4jradke4 Posts: 3,573 ✭✭✭
    I use a second account as a way of budgeting what I spend on cards. I have to take out of our joint account and put it in my secondary mad money account.
    Packers Fan for Life
    Collecting:
    Brett Favre Master Set
    Favre Ticket Stubs
    Favre TD Reciever Autos
    Football HOF Player/etc. Auto Set
    Football HOF Rc's
  • XanaduNowXanaduNow Posts: 1,718
    Alfonz, a second account is a good idea especially if you plan on doing some selling. In the event of a chargeback you would be relatively protected as long as you emptied out that account into your primary one. It would limit PayPal's ability to obtain your funds.

    As far as "bank transfers only" it doesn't work. If you take PayPal, you take the whole thing. I learned that one the hard way. So even if they say they only accept transfers they're required to accept CC if they state they take payPal. Obviously though, it is probably a good idea to maintain open communication with the seller if at all possible. More bees with honey type thing.

    Arthur
  • Alfonz24Alfonz24 Posts: 3,114 ✭✭✭✭✭
    Thanks for the responses.
    #LetsGoSwitzerlandThe Man Who Does Not Read Has No Advantage Over the Man Who Cannot Read. The biggest obstacle to progress is a habit of “buying what we want and begging for what we need.”You get the Freedom you fight for and get the Oppression you deserve.
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