Paypal

[mayerling]

Can somebody explain to me how Paypal works for receiving payments?

I set up a new account with them (a standard account as far as I can tell), and they took my card details for making payments but didn't ask me anything in terms of bank account details for receiving payments. Do payments just go directly to the credit card as well?

Thanks!

 

[vc10um]

Mayerling, received payments will go directly into your Paypal account itself and then you can choose to have them held there (and then they will be used first to make future purchases) or you can have them deposited into the bank account you've included with your Paypal.

Hope that makes sense!

 

[mayerling]

Thanks, vc10um. The problem, though, is that they never asked me for information about my bank account. Or do they only ask once I've received a payment?

 

[vc10um]

You can certainly add one in, as my PayPal is tied to one of my bank accounts, as well as a credit card. I'm pretty sure when PayPal FIRST came around, you HAD to tie it to a bank account and not just a CC.

Under "Profile" from your Account Center on PayPal, you can go to Add or Edit Bank Account. That should allow you to add an account to which you can transfer any funds paid into your PayPal account. And under "Withdraw" you'll see Transfer to Bank Account, which is where you go to actually do that.

HTH!

 

[mayerling]

Thanks, vc10um!

p.s. what does HTH mean?

 

[vc10um]

HTH = Hope That Helps!

Glad I could be of assistance!