Quick paypal question

[Mike O]

If i sell something through paypal does that money go onto my bank account? I buy through paypal all the time and it automatically puts it in. Just wondering if there is any fee for putting it into my bank account or if it just stays as paypal credit.
Thanks

[east tx skier]

You get charged around a 2.5% fee when you collect the money into your PayPal account. You can then transfer to your bank account for free or buy stuff using PayPal.

[Mike O]

that was exactly what i wanted to know thanks!!

[AirTool]

I've only taken in money one time on pay pal and I don't remember the fee. I just let it sit there until I bought something and burned it down.

[hyparks]

When you receive money through paypal. Paypal take the fee out of the money before it hits your paypal account. Where you see your money details on the screen for whatever you have received money for, it shows you a minus figure. This is the fee they have took off your money. If that makes sense

[AirTool]

When you receive money through paypal. Paypal take the fee out of the money before it hits your paypal account. Where you see your money details on the screen for whatever you have received money for, it shows you a minus figure. This is the fee they have took off your money. If that makes sense

I'll go back and look. It was a long time ago so it may not be on the history. I just thought if you never passed it through a credit card that they didn't charge you.

[azeus17]

Just saw this thread. There is a way to not incur fees on paypal. Instant transfer from your bank account it one of them. Also, if you are selling something, the person paying has several options (credit card, paypal credit, instant transfer, etc) and is shown who is charged what fees. I am pretty sure you can even change who pays the fees before finalizing (so if the buyer was paying the fee, they would pay $51 and 50 would go to the seller and 1 to paypal).

From personal experience, be careful if you are trying to send large amounts of money through paypal. I was screwed when I bought my boat. Long story short, called the customer service number well in advance, was told no fee if I use the instant transfer from my bank account, and then was not able to send the amount I needed. Ended up having to paying with CC and was charged the 3% fee.

[east tx skier]

The instant transfer from the bank account is free up to $500 per month. Over that, you get charged like you do for credit card transactions. Overall, it's a pretty good service if you're a buyer. If you're a seller, they have the potential to screw you over pretty good if the buyer is unhappy for no good reason. But I have used them for nearly 8 years and have yet to have a negative experience (I don't consider fees for a service a negative).