PayPal 101 or maybe 100?

[bobbiwoz]

I see that to rent points through David's you need a PayPal account. I do not understand PayPal. If money is deposited into an account in my name, do I have to spend the money through PayPal, or can I get the cash?

Thank you
Bobbi

 

[houseofduck]

You can link a bank account to your paypal account and transfer the money from paypal to your bank account.

 

[erionm]

Once the funds are in your PayPal account, you can request a withdrawal. That withdrawal can be as a transfer to a bank account, physical check, or transferred to the PayPal Debit MasterCard.

 

[bobbiwoz]

You can link a bank account to your paypal account and transfer the money from paypal to your bank account.

Once the funds are in your PayPal account, you can request a withdrawal. That withdrawal can be as a transfer to a bank account, physical check, or transferred to the PayPal Debit MasterCard.

Many people have PayPal accounts, so can I assume these things routinely go as they should?

Thank you.

 

[houseofduck]

I do not use paypal often, but when I have done withdrawals, it has worked as it should.

 

[bobbiwoz]

New question...DH says he has heard that there is a Maximum amount that you can withdraw from your PayPal account each month.

Is that true?

 

[houseofduck]

As I said, I don't use paypal often, but I think if you are a verified user in paypal, there is no limit. But, if you aren't verified, there is a limit (I'm not sure what the limit is).

To get verified, you have to link a credit card or bank account to your paypal account.

 

[OrangeCountyCommuter]

I see that to rent points through David's you need a PayPal account. I do not understand PayPal. If money is deposited into an account in my name, do I have to spend the money through PayPal, or can I get the cash?

Thank you
Bobbi

Good Luck getting the cash. They want you to give them your life story and prove you are who you say you are beyond any doubt (because that way they can keep your money longer.. they put up as many roadblocks as possible!)

You can link a bank account to your paypal account and transfer the money from paypal to your bank account.

DON"T DO IT IT! RUN RUN RUN!

Paypal will then randomly access your account to "withdraw' or attempt to withdraw. They tried to clean out one of my friend's accounts. She had a person file a complaint on ebay for a $100 purchase. Paypal sided with the purchaser and then tried to withdraw $100,000!!!!!!!!!!! And they claimed they did nothing wrong! Apparently the extran $99,900 was a "penalty" The only thing that stopped this mess was the banks controls.

When I had a credit card on file with them every month I got a new "charge" for things I didn't buy. It appears they have no control over their accounts. When I called my credit card company they told me this was continuing source of fraud!

I refuse to use them except to process a payment and even then I won't set up an account and let them "verify" me! I learned my lesson!

The only way I would give them access to a bank account was if I set one up JUST for this purpose with no other funds in it!

(And by the way, they specifically exclude Timeshare rentals from things they will assist with if there is an issue!)

 

[DizBub]

As I said, I don't use paypal often, but I think if you are a verified user in paypal, there is no limit. But, if you aren't verified, there is a limit (I'm not sure what the limit is).

To get verified, you have to link a credit card or bank account to your paypal account.

I have used paypal often and found it pretty seamless. I did, however, start a second checking account to prevent access by anyone to our primary accounts. I think, overall, that most people have had little trouble with Paypal. Just my two cents.

 

[automaticsoap]

I've had a Paypal account for many years, and I've never had an issue with my account or withdrawing funds.

 

[wishicouldgomoreofte]

Hey Bobbi,
I, too, have not had any problems with PayPal, thank God.
Hope I never do. But I have only used them with David's, so not frequently.
People who use it often, with ebay, etc, may have different experiences.

There was a $500 withdrawal limit the first time I used it, but not since. I don't know if that was because it was my first wtihdrawal. And it seems like it was for just that day, or that transaction, and I could do another withdrawal the next day. But I could be remembering that wrong. It may have been for 30 days. Anyway, as I said, after that, I have had no limit that I am aware of. (Never had thousands to withdraw or anything.)

I don't remember jumping through hoops or being required to reveal invasive information, but it's been a couple years since I signed up. You could always start the process, and if you found it asked too much, stop.
David's is wonderfully easy to rent through. Hope all goes well for you.

 

[Mousewerks]

Since PayPal is a financial institution, they must abide by all of the nonsense the national government has put in place since national government day, 9/11.

They aren't any more invasive than your local bank and I've found their service to be very useful on many occasions.

 

[bobbiwoz]

Thanks for your answers!

Bobbi

 

[Sammie]

Many people have PayPal accounts, so can I assume these things routinely go as they should?

Thank you.

When it comes to Paypal assume nothing. They are great for convenience but worthless if there is a problem. They allowed someone that stole my identity to open an account with a stolen credit card, not even mine, and then wanted to hassle me about it. I had to involve the FBI.

As stated their terms of use prohibit use for timeshares.

Besides the direct sale of real property, we also don’t allow transactions that involve:

Timeshare transactions -- offers to buy, sell, or rent rights to the periodic use of a property. A timeshare is real estate that is jointly owned by people who share the right to use the property and take turns using it."

 

[bobbiwoz]

When it comes to Paypal assume nothing. They are great for convenience but worthless if there is a problem. They allowed someone that stole my identity to open an account with a stolen credit card, not even mine, and then wanted to hassle me about it. I had to involve the FBI.

As stated their terms of use prohibit use for timeshares.

I am sorry you had that experience.

Tom & I still have to decide about PayPal. This position we are in could be a one time deal and we may have an alternate plan.

Bobbi