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Fatdawg

Fatdawg

Member
Joined
Jan 28, 2011
Messages
239
Location
Bedford, PA 15522
For the second time in two years my credit card information has been stolen/unauthorized used. I've been looking at setting up a paypal account to help prevent such. I've been fortunate to detect and stop the unauthorized charges without occouring any cost to me.

I Would like input on the pros/cons of paypal. And how it works in plain English. I've looked at their website and read the terms and such, but would like input from members already using paypal. At this time I only buy items, but I may look at selling in the future or offer some of my excess inventory (kits/blanks and such) to members for shipping cost.

Thanks to all in advance for your input.
 
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I've uses paypal for years. Buying and selling. To buy, you have to have backup funding, such as a linked CC or bank account. I also have a Paypal debit card, which pays me 1% every time I use it. I have it backed by my checking account. I get about $30 bucks a month just for using it. I have stopped using ANY of my debit/credit cards since I got the Paypal debit card.

And if you are selling, the money goes into you Paypal account. I have never moved money out of Paypal because of the debit card. When I use the debit card, it uses the funds in the Paypal account first, before transferring any money from you linked account.

Also, I just installed an App on my phone which allows me to photo a check and deposit it into my Paypal account. It's a bit slow on funding, but it is handy.
 
I use Paypal for most of my purchases. It is very simple to use and most members on here accept Paypal and more and more vendors on the web are using Paypal. They are an Ebay company so really there are getting you at both ends if selling on Ebay, but then the government does too. I also like it that they have an app for smart phones. Go ahead and try it, it doesn't mean you have to stay with it.

Lin.
 
I've used Paypal for a while myself... have never had any real difficulties with it.... I did get a phishing attempt against my account last year, but PP handled it immediately and have had no problems since... nothing lost in the attempt....
I do have it set up to a separate checking account from the main account... so if I should get hacked, there will be limited loss... it's actually very easy to set up and to operate. I don't have the debit card, but I keep little money in the paypal account so the debit won't do me much good.... it's a good idea and one worth exploring later.
 
Never had a PayPal problem either. Use it all the time to buy and sell, but FYI...they are reporting to the IRS now, any one with more than $20,000 yearly earnings in receieved payments and I think more than 200 recieved payments in a year.

They also have a very convienent shipping label process.
 
Last edited:
Live2Dive said:
I've uses paypal for years. Buying and selling. To buy, you have to have backup funding, such as a linked CC or bank account. I also have a Paypal debit card, which pays me 1% every time I use it. I have it backed by my checking account. I get about $30 bucks a month just for using it. I have stopped using ANY of my debit/credit cards since I got the Paypal debit card.

And if you are selling, the money goes into you Paypal account. I have never moved money out of Paypal because of the debit card. When I use the debit card, it uses the funds in the Paypal account first, before transferring any money from you linked account.

Also, I just installed an App on my phone which allows me to photo a check and deposit it into my Paypal account. It's a bit slow on funding, but it is handy.
Click to expand...

Tell me more about this app you have
 
Works fine

As a buyer Paypal works fine where it is accepted and it's cost free. Link a bank account without much money in it. I've never had a problem as a buyer.

For a seller it is a bit costly (about the same as credit card processing) but very convenient and it is widely used. More than half of my customers pay via PayPal. If you only sell infrequently there are things that can be done so you get paid with nothing deducted. If you are a regular seller that's sort of unethical but I do it once in awhile on sales of personal items.

I've never had any problems other than they tend to favor the buyer in disputes. That's a little ironic because they get paid only by the seller.
 
If your going to have a website and take payment through it, PayPal is almost required. Haven't used any of their 'Apps'......yet. But at some point I may look into it.

Downside, the fees taken. Seems like a lot for what they actually do for you(then again look at any fee based company....ouch). At least they haven't started charging a fee to transfer monies to your bank.......yet.





Scott (no choice to do bidness) B
 
I use it, and the debit card, about 1/2 or more of my sales are PayPal, the discount rate(what they take from a sale) is higher than my credit card company, but the money is available instantly versus 2 to 3 days for a credit card to be processed into your bank account, They do tend to favor the buyers in any dispute though, but so do the credit card companies.
 
I've had several problems in the past with my Paypal account being hacked and the credit card information stolen. I ordered the security token a few years back and never had another problem. It's a key chain fob with a rolling 6-digit code that is tacked on to your password, like an RSA token if you're familiar with those.

That combined with a very strong formatted password has done the trick.
 
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