How does PayPal work for accepting payments on eBay?

  • Thread starter Thread starter Cyrus
  • Start date Start date
AI Thread Summary
The discussion centers on selling items on eBay and using PayPal for payment processing. The seller has set up PayPal with a credit card and seeks clarification on how payments work, specifically whether a debit card or bank account is necessary. It is explained that PayPal deducts fees from payments received, which can be transferred to a linked bank account for free. The seller shares their experience selling various old items, including sunglasses and gaming consoles, noting the satisfaction of making a profit from items that would otherwise be discarded. They also comment on eBay's listing fees and the effectiveness of bundling items to attract buyers. Overall, the conversation highlights the process of selling on eBay, the associated fees, and the benefits of decluttering while making some money.
Cyrus
Messages
3,237
Reaction score
17
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.
 
Physics news on Phys.org
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.
 

Hot Threads

Recent Insights

Back
Top