Mods please move this to off topic, i wish i could donate and post this directly in off topic section and discuss this method of money transfer.

What exactly is paypal???

i was at their site and i understand this:

You send an amount to an email address and they recieve an email that says they got CASH. I believe your bank accound, CC or w/e you wanna use gets charged and im not quite sure how the seller gets his/her money.

Can anyone tell me exactly how paypal works. Do you guys like it??

are there any additional fees or monthly charges for paypal??

Thanks and sorry for postin in general maxima discussion section!

 

Paypal is a way to send money without paying postage fees. It is only to it's members and you are ONLY charged if you setup an account to have a paypal store account or to protect xxx amount of funds in your account. Other than that I didn't use paypal for 3 months and haven't been billed on my Mastercard.

The only way to send the money is if that person is a member of paypal. When that person receives the they've got cash e-mail he/she can have paypal transfer the funds to a bank account for free or have them send the check to his/her home for a fee of about 2.00. You also have the option of leaving paypal to hold the funds for future purchases.

 

Our side-company (inc.) is new to receiving money through PayPal--lemme tell you, it's been 2 weeks, and there's still no trace of the payment in our bank even though this dude got charged on his MasterCard. Playing the float I guess. I know that money is a serious thing, but there's got to be a better way to clear funds because it's a ***** giving people stuff based on an email when you don't have the money in the bank yet. my .02........but I do use it to buy on eBay.

 

I've only used it as a buyer for items on eBay for a few years now without any problems.

You send the money via paypal, the seller gets an email and accepts receipt of the payment, the money gets put in the seller's paypal account.

They have, I believe, 3 levels of membership accounts.
There's no monthly membership fee as far as I know.
Level 1 - Can be used to send money to a paypal seller using cash (via debit a confirmed checking account) or a credit card. Can also be used to receive cash payments.
Level 2 - All level 1, plus can receive credit card payments with a 2-3% fee to paypal.
Level 3 - Set up an online Paypal store, I think.

Any payments you receive get put into your paypal account which you can then transfer to your confirmed bank account when you want.

 

Um if I move it to OT, how you are going to see the replies? Sheesh.