How does Paypal work?
Hi, I just created an ebay account in hopes of selling a few sports cards I have, and naturally I opened a paypal account also. However, I am confused. It says to enter a credit/debit card number, which I did, then when my whole account was set up, it told me my paypal balance was at 0.00$, which i found a tad strange because I figured since it was paired with my visa, and only my visa, that it would be correlative to my visa's account balance. So I guess this is my question; when i get a buyer on ebay, when I get payed, will it be added directly as credit to my credit card, or will it update my 0.00 paypal account. If it does in fact update my paypal balance, how would i therefore be able to add it as credit to my visa? Thank you for your time.
Comments
The card isn't charged until used. Thus no additions to paypal balance.
If you receive money, that will increase balance. You need a bank account to pull money off. Either that or pay $1.50 for a mailed check or apply for paypal's debit card.
When you get a buyer and they purchase your item, if they pay you via paypal then it will update your $0.00 balance. Then to add the funds from your paypal account to your bank account, simply select withdrawal on the page where it shows you your account balance. Then your funds will be transferred from your paypal account to your bank account. But it will take about a week (usually less) until you see it in your bank account.
If you sell on PayPal, make SURE you send your cards through a mail service WITH A TRACKING NUMBER. It's a little more expensive, but it will save you from LOTS of people who can buy from you, then open a dispute in PayPal, saying they didn't receive the card. If you are able to track it, you will win those disputes & not lose out on your money.
Learned the hard way...
you may have your PayPal dollars credited to your credit card but there is no way PayPal knows your credit card balance
they only know what they deposit to the account