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| Here's a stupid question that I presume almost everyone besides me has the answer to. What is PayPal and how does it work? |
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Posts: 455
| Its like a checking account (kind of). You can make transactions and purchases using pay pal for a fee. Most guys buying or selling stuff on the internet like it because its fast and gives a little bit of protection. I'm no expert however and I'm sure that others have more information. |
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| I just looked it up. Seems like a good way to have your personal info stolen. There seems to be a lot of people that use it and obviously like it, so I suppose it's trustworthy. |
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Posts: 431
| I've used paypal for a number of years-sending and receiving money for baits on this site, through ebay and various other transactions. I have read that paypal processed $71 billion in transactions in 2009. There are some protections built in when using paypal through ebay-example-I paid for a textbook and never received it-my money was refunded. It is a fast, and in my experience, secure way to send and receive money. The big gripe most people have is the fees, but paypal certainly can't provide the service free of charge. |
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Posts: 476
Location: WI | You actually do not need to be a PayPal member to send money through PayPal either..... You can use your regualr Credit Card and pay for items that way through their website, but do not need to keep your information on file or be a member.
I use PayPal on my website, and I think that there is misconception out there that you need to actually have a PayPal account to send funds.
Dan O
Edited by GOTONE 1/27/2011 1:17 PM
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Posts: 1663
Location: Kodiak, AK | I like it because I can pay with CC and not have the seller have access to my CC number; they get the money from PP, and not directly from my CC.
That, and the convenience of it...no checks to clear, no checks or money order going through the mail, etc. |
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| Thanks for the input. That makes me feel a little more secure about it. I kept seeing everyone saying how they preferred PayPal in the Buy/Sell category but I was never sure how it actually worked. |
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Posts: 574
Location: Elk Grove Village, IL & Phillips, WI | #1 way to pay on ebay too!! |
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Posts: 536
| paypal is said to actually be the safest way to do a transaction other than I would suppose giving cash on the spot! |
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Posts: 255
| My entire internet division of my business is run through Paypal. Most of my customers do not even know their payments are processed through a division of paypal. Is it safe? Absolutely. |
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Posts: 717
Location: Grand Rapids, MI | The only gripe I have with PP is that my wife has an account too. She has our checking account linked to it, and you can only have 1 bank account per PP account. So anytime I want to buy something, I have to transfer funds from her account into mine. Luckily, there is a way to do that without having to pay any fees. (Personal/other). I don't think I would ever use that feature selling/buying with someone I didn't know, though. Like it was said earlier, there are security features if you use PP the right way to make a purchase. |
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Posts: 4053
Location: Land of the Musky | I have processed well over $1M through PayPal. So far one issue and that was for under $20. If you are not sure about using PayPal you also may want to stop using your credit card at most Target and Wal-Marts... Yep, PayPal is the company that processes most of those charges and they all go through the internet when you slide it at the check out counter. Most people do not realize this. WE are in the internet age like it or not 
James |
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