After all these years, a REALLY stupid PayPal question

phil.wheatley · 11-03-2009, 01:16 PM

Hi Gang

I'm really bad at checking my finances. Why is it when you pay for something, it instantly shows the payment in your bank account it's linked to, but if somebody buys from you, you only see it in PayPal?

I see there is a balance figure - does this mean that if the money I receive from payments is lower than the stuff I've bought, I'll never see the transaction? Well, that would make sense, but again it takes the money out straight away.

Agh, I know I'm being thick!!!

Thanks,
Phil

War_Guy · 11-03-2009, 01:57 PM

Hey,

Paypal will keep the money that is "sent TO you" in your PayPal account. You can then transfer the money to your bank account for withdrawal.

However, when you send money,provided that there is NOT enough in your paypal account, it will be withdrawn immediately.

HTH

phil.wheatley · 11-03-2009, 02:07 PM

So....do I have to go in and tell it to transfer the money to my account then? So if I get paid 100 bucks, and then buy something for 50 bucks, my balance is 50, which I can then transfer, or just keep there for the next thing I want to buy from paypal.

Quote:

Originally Posted by War_Guy

Hey,

Paypal will keep the money that is "sent TO you" in your PayPal account. You can then transfer the money to your bank account for withdrawal.

However, when you send money,provided that there is NOT enough in your paypal account, it will be withdrawn immediately.

HTH

JamesRad · 11-03-2009, 02:09 PM

Yes you need to manually transfer money put of your paypal accounts.

Just watch out for the silly limits they impose on withdrawing money, you need to verify to get these limits lifted.

James

RobFighter · 11-03-2009, 02:12 PM

Phil,

Yes, you go in and transfer whatever amount you want from your balance to your bank account.

You can also get a Mastercard debit card from them which is a good idea. It's free and very handy for paying business expenses or accessing some cash from your balance at nearly any ATM if you need to.

Rob

HeretohelpU · 11-03-2009, 02:13 PM

Used to think if I still had blank checks in my check book I must still have money to spend. But now when i go to PayPal I know I have money in there but it wont let me spend it without national security clearance first. To me it is the same as putting my credit card in the freezer and having to thaw it out before using it. I usually find that the purchase I was trying to make through PayPal was something I could do without.

phil.wheatley · 11-03-2009, 02:21 PM

Thanks very much guys for your replies. All working now. Yeah, that whole thing about limits is a pain, but managed to get that lifted.

Cheers,
Phil

seasoned · 11-03-2009, 08:50 PM

Phil,

EVERYONE wants their take! Why should paypal pay to take money it already had, etc...? If you have a balance, paypal can pay from the balance. Otherwise, they take from your bank accounts. If you send money to another paypal member, it really DOESN'T go to the "MEMBER", it goes to their paypal account. If they then pay someone else, it can be moved to another account, etc.... Under the right circumstances, paypal can just start changing ownership, and cut the banks out of the picture. THEY then become the bank, and can do business with less hassle and cost and make more profit.

So it makes perfect sense that you see what you see.

Steve

mark z · 11-03-2009, 10:09 PM

Quote:

Originally Posted by phil.wheatley

So....do I have to go in and tell it to transfer the money to my account then?

Actually, they are calling it withdrawal.
Also please be aware that withdrawal to bank account is not possible in some countries. You can check list of countries they support here https://www.paypal.com/cgi-bin/websc...ntries-outside
So, if you`re from UK that is not an issue.

Also, pay attention on particular limits (you can request to lift them up, usually followed by additional verification).
Check your current limits on My Account / Overview page (it may vary in different regional PP interface).

Furthermore, they are taking their share with every currency converting transaction (particular country related, too).

I suggest you to check all details promptly on their site.

David Mcalorum · 11-03-2009, 10:57 PM

You have to transfer it from your paypal to your bank account.

Paypal will take funds directly from your account, acting like a debit card, but not put them right back in without request.

11-03-2009, 01:16 PM	#1
phil.wheatley Advanced Tea Maker War Room Member Join Date: Jul 2008 Location: London, England (Know what I mean mate!) Posts: 780 Thanks: 126 Thanked 110 Times in 64 Posts Social Networking	After all these years, a REALLY stupid PayPal question Hi Gang I'm really bad at checking my finances. Why is it when you pay for something, it instantly shows the payment in your bank account it's linked to, but if somebody buys from you, you only see it in PayPal? I see there is a balance figure - does this mean that if the money I receive from payments is lower than the stuff I've bought, I'll never see the transaction? Well, that would make sense, but again it takes the money out straight away. Agh, I know I'm being thick!!! Thanks, Phil
	NO OPT IN REQUIRED: Check the photo on this page!! p.s This was going to sell for $47, now it is free and you can even give it away as your own opt-in incentive. Grab the Niche Riches Plunder Report...

11-03-2009, 01:57 PM	#2
War_Guy Active Warrior War Room Member Join Date: Mar 2009 Location: Near NYC Posts: 66 Thanks: 10 Thanked 7 Times in 7 Posts Contact Info	Re: After all these years, a REALLY stupid PayPal question Hey, Paypal will keep the money that is "sent TO you" in your PayPal account. You can then transfer the money to your bank account for withdrawal. However, when you send money,provided that there is NOT enough in your paypal account, it will be withdrawn immediately. HTH

11-03-2009, 02:09 PM	#4
JamesRad Proud Student of MWA 3.0 Join Date: Sep 2009 Location: UK Posts: 91 Thanks: 9 Thanked 6 Times in 6 Posts Social Networking	Re: After all these years, a REALLY stupid PayPal question Yes you need to manually transfer money put of your paypal accounts. Just watch out for the silly limits they impose on withdrawing money, you need to verify to get these limits lifted. James

11-03-2009, 02:12 PM	#5
RobFighter RainMaker War Room Member Join Date: Jun 2003 Location: Ohio, USA Posts: 274 Thanks: 1 Thanked 13 Times in 5 Posts	Re: After all these years, a REALLY stupid PayPal question Phil, Yes, you go in and transfer whatever amount you want from your balance to your bank account. You can also get a Mastercard debit card from them which is a good idea. It's free and very handy for paying business expenses or accessing some cash from your balance at nearly any ATM if you need to. Rob

11-03-2009, 02:13 PM	#6
HeretohelpU Warrior Member Join Date: Oct 2009 Location: Union, New Jersey Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts Social Networking	Re: After all these years, a REALLY stupid PayPal question Used to think if I still had blank checks in my check book I must still have money to spend. But now when i go to PayPal I know I have money in there but it wont let me spend it without national security clearance first. To me it is the same as putting my credit card in the freezer and having to thaw it out before using it. I usually find that the purchase I was trying to make through PayPal was something I could do without.

11-03-2009, 02:21 PM	#7
phil.wheatley Advanced Tea Maker War Room Member Join Date: Jul 2008 Location: London, England (Know what I mean mate!) Posts: 780 Thanks: 126 Thanked 110 Times in 64 Posts Social Networking	Re: After all these years, a REALLY stupid PayPal question Thanks very much guys for your replies. All working now. Yeah, that whole thing about limits is a pain, but managed to get that lifted. Cheers, Phil
	NO OPT IN REQUIRED: Check the photo on this page!! p.s This was going to sell for $47, now it is free and you can even give it away as your own opt-in incentive. Grab the Niche Riches Plunder Report...

11-03-2009, 08:50 PM	#8
seasoned Senior Warrior Member War Room Member Join Date: Jan 2003 Location: , , USA. Posts: 11,102 Thanks: 1,417 Thanked 731 Times in 638 Posts	Re: After all these years, a REALLY stupid PayPal question Phil, EVERYONE wants their take! Why should paypal pay to take money it already had, etc...? If you have a balance, paypal can pay from the balance. Otherwise, they take from your bank accounts. If you send money to another paypal member, it really DOESN'T go to the "MEMBER", it goes to their paypal account. If they then pay someone else, it can be moved to another account, etc.... Under the right circumstances, paypal can just start changing ownership, and cut the banks out of the picture. THEY then become the bank, and can do business with less hassle and cost and make more profit. So it makes perfect sense that you see what you see. Steve

11-03-2009, 10:57 PM	#10
David Mcalorum Experienced Warrior War Room Member Join Date: Aug 2009 Location: Canada Posts: 1,314 Thanks: 613 Thanked 74 Times in 47 Posts	Re: After all these years, a REALLY stupid PayPal question You have to transfer it from your paypal to your bank account. Paypal will take funds directly from your account, acting like a debit card, but not put them right back in without request.