PayPal!

just wondering, how does paypal work?

thanks!

 

they act as a middle man in trading goods for money

for example in ebay when somebody wants to buy lets say an xbox. The person wanting to sell would only send the xbox after they have recieved a notification from paypal saying the person has paid them. then when the person recieves the xbox paypal completes the transaction

 

exactly... it makes everyone be a little more secure... so both people come through on their end of the deal

 

is paypal worldwide?

and does it take commission?

 

it is worldwide

as far as i know they dont charge for their services i think they earn their money through the sites that use paypal like ebay

 

paypal only charge the person who recieves the money. So if you send the money nowt is taken out of your account apart from the amount you send but the person whi recieves it gets 5% less than what is sent. This is the fee paypal charge

 

righto sorry

 

You have to have a credit card to use paypal, don't you? :/

 

yes. you give them your details and they take money from it whenever you authorise it

 

Argh, lol. That sucks. I've always wanted a Paypal account.. but I suppose I need to get a credit card first. :/

 

me too. all my life i had been waiting till i was 18 to get ebay and a credit card. no credit card yet

everyone around me talked me out of it. Apparently just because im 18 and an adult doesnt mean i am automatically mature enough for a credit card

apparently they put you in a spiral of death

 

Rofl. I think my parents are getting me one when we get settled in. I'm 16 atm. ;P

 

yes but being male has its advantages in the "parental trust with credit card" business. your less likely to go max it out on clothes and shoes

 

hmm, but if you want to receive the money do you need to have a creditcard?

wow. 5%'s alot!

 

i dont think you need a credit card to recieve money from other people, but i think you need a credit card to verify the account, so you can recieve money, but you cant spend it at any online stores or ebay.

 

Yeah, and i think the only way you add money to your account is through the bank

 

wow, so you would have to retrieve the money first, then be able to spend it?

quite complicated =/

 

not to complicated... there are some bank accounts (savings accounts) where you cant use a credit card or check directly from it... so you have to go to the bank, take out the money, and then you can spend it

 

hmm, okay. i think i got it now.

thanks!

 

no problem, glad to hlep!