Pay PaL

I have a Pay Pal account that I use for paying online purchases. Can I use this same account to receive funds if I sell something? If that is the case, where do these funds go and how can I have access to them?

 

While I am no expert to receiving money, my understand is yes you receive it and you can basically funnel it to the bank account you have confirmed through PP.

There might be a fee involved though.. I am not sure.

 

I don't remember a fee but I think you can only transfer so much at one time.

 

Something like that. You're only allowed a certain amount of transactions. I think 5 in a month before they force you to upgrade.

 

Thanks for the info! I do have the free account because I don't pay any fees when I send money for payment. Money is taken from my credit card. Pay Pal is so convenient but I never had the need to receive funds. I wanted to know if it was possible just in case in the near future I needed to receive funds using this service. I won't ever have any where close to 5 transactions a month so I'll be ok.

 

I've had a Premier Business Account for years and can't remember how the free one worked. With Premier I can transfer any amount to my bank any time, or have PayPal mail me a check, or I have a PayPal debit card to withdraw my money from any ATM. The debit card can be used to make purchases anywhere that accepts Mastercard. There's no fee for taking money out but there is a fee for receiving payments.

It's very handy to be able to accept credit cards online or via e-mail.

Richard