Can you tell me if you use paypal for ebay and how it works?

[Lorix2]

I haven't ebayed for 2 years now and want to start again. When I sold, I would only accept a check or money order. Paypal looks very convenient for both the seller and buyer.

How does paypal work and what are the fees? Are you happy with paypal? Of course I can go to ebay, but I'd like to hear it straight from the DIS'ers first

Thanks for any help you can provide

 

[tstobb]

Paypal rocks!

When you set it up initially, Paypal pulls money for purchases directly from your bank account or you can transfer money into your PayPal account. My PayPal account is also a money market account so any balance in there is earning interest.

You can also get a PayPal MasterCard debit card that is tied to your PayPal account. Like a Discover card, you earn 1% of all your purchases on the card back but unlike Discover, you get that 1% back as soon as the charge goes through!

When you accept PayPal for your auctions, there are different fees, depending on the type of account that you have. (2.2% + $0.30 USD to 2.9% + $0.30 USD currently) so take that into account when selling. The money from sales is put into your PayPal account and you can spend it from there or transfer it back into your regular bank account.