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Pay Pal ?


Regis22
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Anyone in Canada have pay pal ? 

How easy is it to use if you want to sell something and the person wants to pay you via pay pal ?  

How do you get the money from Pay Pal to your personal bank account ( Royal Bank )

looking for any feed back please and thank you

 

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On 9/15/2021 at 12:42 PM, Regis22 said:

Anyone in Canada have pay pal ? 

How easy is it to use if you want to sell something and the person wants to pay you via pay pal ?  

How do you get the money from Pay Pal to your personal bank account ( Royal Bank )

looking for any feed back please and thank you

 

Not sure if you already made a decision Regis but I use paypal all the time.  Its one of my main methods of payment for my international art orders & I accept tens of thousands of dollars through it yearly.

Its very easy to use, and offers a level of protection for both the buyer and seller (i use mine primarily to receive funds but its good either way).  They provide an arbitrator it it gets to that point. 

You can transfer directly to your bank account any time.  I am not sure if there's a minimum (I only transfer once it adds up a bit) There's no fee to transfer (again, maybe there is if there's a minimum) but there are fees when you receive the payment.  Buyer doesnt pay anything to transfer, but you do pay fees to receive the money.

Overall im fairly happy with it. I dont sweat the small stuff (fees) because in the larger scheme of things it tends to be the most user friendly (and accessible) service out there.

 

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Thanks . I wanted to send you a  message but you arent receiving messages 

I set up a Pay Pal account but I haven't linked to a Royal Bank account . 

The fellow wants to pay me with Pay Pal .

My understanding is I give him my e-mail and he arranges to transfer the money to my pay pal account .

Once the money is received I can then transfer the money to my actual bank account .  I have a bank account , with zero balance . Can I link it to that account or do I need to have an account with money in it . I'm not buying , only selling .

Is there a fee to transfer the money from Pay Pal to my actual bank account. Are you aware how much it is ?  For example if the item im selling is $650. Canadian what would pay pal charge me ?

Thank you again 

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9 minutes ago, Regis22 said:

The fellow wants to pay me with Pay Pal .

My understanding is I give him my e-mail and he arranges to transfer the money to my pay pal account .

Correct. You can either send him an invoice (generated through the paypal interface) or you he can just send you the money (easiest). All he needs is the email address of your paypal account and he will be able to send it to that account.  You WILL be charged fees at this point to receive the money.  I believe their fees on $650 is 2.90% so, just under $20.  You should receive around $630.

9 minutes ago, Regis22 said:

Once the money is received I can then transfer the money to my actual bank account .  I have a bank account , with zero balance . Can I link it to that account or do I need to have an account with money in it . I'm not buying , only selling .

The balance of your account should not matter (paypal technically would have no way of knowing what is in your personal bank account, they can only add to it).   There's no fees for this. (there may be a tiny like transaction fee of less than a dollar but there's no percentage fee at this point, just when you receive it). 

 

It does usually take a few days after you 'withdraw money" (ie, transfer it to your bank) to get it. Ive seen it transferred the same day & Ive seen it take 4 or 5 but usually its around 2 days. 

 

 

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