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PayPal question

 
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dimitris
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Joined: 31 Jul 2002
Posts: 1661
Location: Greece
PostPosted: Fri Oct 17, 2008 10:45 pm    Post subject: PayPal question Reply with quote
Could anybody explain how PayPal works with simple words? I want to use it for Internet dealings but, I haven't got a clue about that!! Embarassed Embarassed

Thanks,
Dimitris
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Timo
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Joined: 24 Jan 2002
Posts: 3109
Location: Kaoss central, England
PostPosted: Fri Oct 17, 2008 11:37 pm    Post subject: Reply with quote
Generally, both of you (seller and buyer) need a Paypal account.

You tag a debit card or bank account to your PayPal account. This lets you 1) upload money from that card/bank into to your Paypal account for use, or conversely 2) transfers money from your Paypal account back onto your card/bank.

In other words it's a great tool for you to accept or make payments to or from other people with debit cards/bank accounts. Even currency conversions are taken care of.

PayPal are basically a middle-man. As such, they charge fees, but these are relatively nominal considering the power they give you to do business with literally anyone on the planet.

It has to be said that PayPal is also owned by Ebay. So, effectively they sting you twice if you sell stuff via ebay using paypal.
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dimitris
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Joined: 31 Jul 2002
Posts: 1661
Location: Greece
PostPosted: Sat Oct 18, 2008 5:11 pm    Post subject: Reply with quote
That means that I have to speak with my account bank for doing such dealings, is that right, Timo?

Thanks for your reply!

Regards,
Dimitris
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