How does PayPal work for accepting payments on eBay?

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Discussion Overview

The discussion revolves around the mechanics of using PayPal for accepting payments on eBay, including the setup process, fee structures, and user experiences with selling items. It encompasses practical aspects of online selling and payment processing.

Discussion Character

  • Exploratory
  • Technical explanation
  • Debate/contested
  • Homework-related

Main Points Raised

  • One participant inquires about the requirements for using PayPal, questioning whether a credit card, debit card, or bank account is necessary for transactions.
  • Another participant humorously suggests waiting until 2102 to sell an old video game, implying its future value.
  • A different participant discusses PayPal's fee structure, noting that PayPal deducts a fixed fee plus a percentage from payments received, and describes the process of linking a bank account for withdrawals.
  • Several participants share their experiences selling items on eBay, expressing satisfaction with the sales process and the profits made from selling old items.
  • One participant mentions the strategy of bundling items together to attract buyers, reflecting on the competitive nature of selling on eBay.

Areas of Agreement / Disagreement

Participants generally agree on the mechanics of using PayPal for eBay transactions and share positive experiences with selling items. However, there are differing opinions on the value of eBay's fees and the effectiveness of selling strategies.

Contextual Notes

Some participants express frustration with eBay's listing fees and PayPal's transaction fees, indicating a potential limitation in the profitability of selling items online.

Who May Find This Useful

Individuals interested in selling items on eBay, those considering using PayPal for transactions, and users looking for insights into online selling strategies may find this discussion relevant.

Cyrus
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Im selling some junk on ebay. I decided to use paypal as my method of accepting payment. How does this work? Right now I only have paypal set up with my credit card. Does it need to be a debt card to work, or a bank account number? Or does it just 'refund' my credit card x-amount of dollars?

PS, anyone want a pair of Oakleys (never worn because they can't do prescription), some old sparring gear, or a (Nintendo, Sega Genesis, Sony Playstation + Games)? :smile:

I also have Flight simulator 2002 for sale. :rolleyes:

Most of this stuff is almost 10 years old.

Man ebay must make a fortue because they charge you for every damn little setting on there. Do people actually pay to relist-and relist and relist things that don't sell?

Ive kept the cost down to $1.80 per item for sale.
 
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You should wait until 2102 to sell your copy of Flight Simulator 2002. It will be worth billions!

- Warren
 
If you think eBay is rips you off with the fees they charge just to list think, wait until you receive your payments in PayPal (which is owned by eBay) and they take their fees out of that. PayPal takes $.30 out + a certain percentage. I once tested it by sending myself a $.30 payment from one of my accounts to another and they took every penny (but I refunded myself so there was no net loss).

If / When you receive your PayPal payment it will go into your PayPal account (after the fees have been extracted, assuming you have a professional or business account type). In order to get this money out and put it into your pocket (so to speak) you can withdraw it one of several ways…the cheapest (free) of which would be to link you bank account to PayPal and then direct deposit the money from PayPal to your bank.

There is a slight plus to linking your bank account to PayPal…the verification process. In the verification process, PayPal makes two small deposits into your bank account and all you have to do is look at your bank statement and tell them what amounts they were. Then you get to keep that money (how nice of them to give you a few cents for free).
 
Thanks Mr. Jeffy. Now, please go bid on my crap. 3 people are watching my oakleys now. :smile:

http://img72.imageshack.us/img72/3363/oeakfh0.jpg

Buy now, only 90 bucks!
 
Last edited by a moderator:
Hooray, people are watching my stuff and one person bid on the sparring gear!

It feels go to sell old junk rather than throwing it away! Some of this stuff is so old that any amount of money I get back on it is considered to be pure profit in my opinion. I mean, sparring gear that I used almost 10 years ago is selling for 15 bucks! That's awesome! Who do you 'donate' old sparring gear to? I am not going to hang around Karate Do-Jangs asking kids walking in, "hey kid, I got some sparring gear I am going to sell you." :smile:
 
HEYYYY! Someone just bought my old nintendo, sega, and sony playstation for $60 bucks! Talk about cha-ching! I had to lump it all together because I saw a dozzen users selling each on individully with no bidders, so I figured this was the best way to get anyone to bid on it. Sweeeeeeeeeet.
 
Hooray, I sold my sunglasses for $90 bucks!
 
Okay, sounds like your question was answered, and while we're happy you're selling your "junk" for a nice "profit," I think it's unnecessary to continue this thread.