Can someone explain PayPal?

cheapchick · 10-30-2009, 11:15:40 PM

Ok, I need to sell some stuff on Ebay but I need PayPal for here too. I tried reading up on it but it makes my brain hurt! Are there fees or aren't there? Does the seller pay the fees? But if you gift it then there's no fees? So why not gift everything? And if someone buys something off you then the money goes in your PayPal account...so if you want the money do you transfer it to a bank account? I don't get the monthly percentage thing 2.9% and 30c fee. I started to make an account but then it asked me for my CC number and that's as far as I got. I know it must not be difficult to understand but I have concerns. I tried reading some Auctions and Trade Posts to help me understand and I think they just confused me more...what's a PPEF and an ayor?

Terrible thing is I joined Ebay 2 yrs and have been too intimidated to attempt to sell anything...

Merczilla · 10-31-2009, 12:11:01 AM

All I can tell you is that if you sell on Ebay, you must have a Premier (or business) Paypal account. You will have to accept credit cards and there will be fees involved in every transaction. You can avoid Paypal by having a merchant account to accept credit cards, but most small sellers aren't even going to mess with that. You cannot sell on Ebay without one or the other.

You cannot say you will accept cash or money orders or anything like that. If the customer asks you privately in an email, then you can if you want.

I don't sell there. Never have, never will. Used to buy but don't any longer. Go hang out on the Seller Central board in the discussion forum section of Ebay. It will be a real eye opener.

wookin · 10-31-2009, 02:19:10 AM

PPEF means paypal existing funds. I use that phrase when selling Q's on here because there won't be any fees for me or the buyer if there is existing funds and they hit the personal tab then click gift. That is not an option when paying on ebay. Therefore the seller will get hit with fees accordingly.

AYOR is at your own risk. That is when seller here asks or says they will accept concealed cash.

From my understand the fees on ebay are absorbed by some sellers in the shipping and handling fee. Some sellers have very low BIN on the actual item but the shipping and handling fee is quite high.

Good luck and hope it goes well on ebay for you.

cheapchick · 10-31-2009, 02:43:02 AM

Great! But what is a BIN?

wookin · 10-31-2009, 02:52:00 AM

Sorry, BIN is 'buy it now'.

tacatcon · 10-31-2009, 04:45:03 AM

just to add to what these great members have said-and I do sell on Ebay occasionally-you would have to have two accounts basically.

One a premier or business account to accept payments for ebay auctions. As a seller, you're always going to have fees and you have to prove you're you with a credit card I believe. You can link your bank account and credit card as back up funding sources and to move money into your checking account instead of holding it in your paypal account.

plus that's your back up source in case you buy something and don't have the $ in your paypal to cover it and don't link your checking account, so they know they get paid.

Second you would need a personal account to do any other business. You as the sender of money wouldn't incur fees if you use your personal account to pay for anything. As long as the transaction is sent as "personal" the recipient of the money doesn't get any fees either.

In order to have two, you will need two different emails.

you probably want to check out the p's and q's of paypal in the tnt forum too.

tara

cheapchick · 10-31-2009, 05:01:25 AM

Actually I just set up a PayPal account. I did Premier since I intend to sell on Ebay. I only set up one account but it does give options for getting paid from selling or just a Personal transfer of money which is free. I'm reading up on Ebay now. I'm sure if I could get straight As in Physics, Chemistry, and Biology I'll figure this out too...eventually.