withdrawing funds from Paypal account.

S

Sue Ellen

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Following a long drawn out eventually successful claim with e-bay are there any problems that I should be aware of in drawing funds out from a Paypal personal account?

They have requested bank details and take it that there is no problem in providing same?

Any other issues to be borne in mind.

Thanks,

Sue Ellen.
 
No problem - this is the norm. I think it takes around 7 days before funds reach your bank account.
 
Hi Sueellen

I use paypal to give sums of money as presents to nieces who live abroad and I have never had any issues with it.

I also use paypal to donate to a very reputable site called Askaboutmoney.com.

The only problem I encountered was that in the past couple of months I had to validate my account by agreeing to withdraw $1.95 from paypal via my AMEX credit card.

This then allowed a validation number to appear on my next credit card bill. I then had to go back to my paypal account and enter this number. the $1.95 was then credited to my account.

This problem was further exacerbated by the fact that I mislaid my card and I had to get a replacement card, replacement validation number etc etc etc ...

Marion
 
sueellen said:
Following a long drawn out eventually successful claim with e-bay are there any problems that I should be aware of in drawing funds out from a Paypal personal account?
Click to expand...

I've never had any problems either Sue Ellen, have been depositing and withdrawing to and from my PayPal account for a few years and everything's been fine. Glad to hear you got money back from an Ebay dispute, they can turn in to unending epics.
 
When setting up my PayPal account, I was also required to have the small validation fee deducted (to test that PayPal can take money from your account OK), but I was unsure that the procedure had completed OK and when retracing my steps I ended up doing it again. Sure enough TWO amounts were deducted, and I have never been able to use these amounts against a purchase, and I have never had a reply to my questions about how to have these amounts credited back. Its a small amount, but its annoying, especially as it was labelled as an optional deduction (but I couldn't get around it, so not much option there!)
 
Sue ellen,
Also be aware then you are withdrawing funds if the amount is less that €100 paypal charge a €1 fee.
While paypal is a fantastic product to allow you do transactions on the net it certainly isn't cheap.
While there is no charge for sending money, there fees for receiving funds are pretty high. When selling items on ebay for a small price the paypal charge can be the difference between showing a profit or small loss.
 
The_Banker said:
Sue ellen,
Also be aware then you are withdrawing funds if the amount is less that €100 paypal charge a €1 fee.
While paypal is a fantastic product to allow you do transactions on the net it certainly isn't cheap.
While there is no charge for sending money, there fees for receiving funds are pretty high. When selling items on ebay for a small price the paypal charge can be the difference between showing a profit or small loss.
Click to expand...

What are the fees involved for receiving funds? I want to get money from a French person (In Ireland but no bank acoount here yet so still using French bank a/c) - 600 euro, and the bank will charge me €19 euro to deposit a French cheque for that amount. How much would ebay charge me?

I see from their website it mentions a 5.4% charge if accepting payment from a debit or credit card, but free to accept payment from a paypal balance. Does this mean it is free once the other person has a paypal account and transfers the money to his paybal balance first??
 
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