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05-17-2005, 03:32 PM #1
how exactly does paypal work?
can someone please explain to me exactly how paypal works. like how much does paypal take out of your account when you sell and recieve money? im 17 and dont ahve a credit card and im trying tog et my parents to open an account for me. another thing they wanted to know is say i accumulate a 100$ balance on my account, how would i get the money? is it possible to get actual cash in hand from paypal? thanks to whoever can help answers these questions for me!
james
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05-20-2005, 12:10 AM #2
Originally Posted by jaybiddyforeal
You can open a basic account with Paypal and they won't take any fees from you. But once you've done $500 worth of business your account automatically upgrades to Premier where they'll take 25 cents +5% per transaction (payments to you).
What you need to do is tie your bank account to your Paypal account. You can do $ transfers directly into your account. If you do not tie in a bank account you can request a check from Paypal. There is a $1.50 fee for the check and it usually takes like a week to get to your house.
Hope that helps.
David
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05-20-2005, 02:37 PM #3
david...thanks alot.
james
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