PayPal...fill me in on it!!!

[TripleB]

I just won my first bid ever on e-bay and it was for a golf club that I've been looking for a long time. The seller asks that I pay using PayPal. I've never used the service so if you will please enlighten me!!!

Is there ever a fee for using PayPal? Why do they ask that you use PayPal? What are the advantages of using PayPal? What are the disadvantages of using PayPal? Can you get "burned" in any way using PayPal? Is it safe?

What else should I know about PayPal?

Thanks.

TripleB

 

[alcap26]

I have used paypal for about 50 transactions and no problems. There is a fee but since you are buying the seller pays the fee. With paypal you also have some assurances although they can be a bear if something goes wrong in the deal.

 

[dmastous]

PayPal is a service that is essentially a bank. They allow people who don't have the ability to accept credit cards to accept credit card type payments. In and of itself PayPal is a reputable company. You will set up a user ID and connect that to a bank checking account or credit card. You will login into PayPal and authorize a specific payment to a specific party (usually identified by email account) and the payment is processed.
There have been some complaints, but mostly from people who have actual accounts with them. Their money gets trapped. But you don't have to worry about that unless you are selling.
There are a lot of "fishing" scams that send you email, supposedly from PayPal, trying to get you to give them your PayPal login info so they can strip your bank account. That's about the only way it's dangerous.
I've had a PayPal account connected to a checking account for over 4 years and have had no problems. But I don't sell, I only buy.

 

[Supernatural_Serve]

Paypal is a global finance company created by ****.

It enables any individual (buyer or seller) or business (merchant) with an email address to send and receive payments online.

The buyer does not pay a fee, the sellers and merchants do.

Its a convenient safe reliable way to exchange money without buyers giving out credit card information, wiring money, or sending checks to any clown selling something on ****.

So, they act as the intermediary interfacing with your credit card or bank, so that you can authorize them to withdraw or charge you (the buyer) and credit the seller.

The seller and the buyer never exchange money or credit cards directly.

Its safe. It works.

 

[diredesire]

As far as paypal goes, you either love it or hate it. I personally think it's a good tool for online trading, and you can keep it separate from personal "money" if desired.

However, there are those that hate it, and there are many, MANY nightmare stories out there. Google for it,

there's also:
www.paypalsucks.com

Research it! If you're just going to buy one item, it's probably not a big deal. Chances are, if they're a business account user, you can pay through credit card, and never have to worry about it again.

 

[Phil]

I've never had a problem with PayPal (tough wood!). Don't worry, Ben, it doesn't cost you any money to join.

BTW, PayPal is now owned by E-B-ay.