I’m interested in selling some of my yo-yos through PayPal. I have never used it before and I’m not sure how it exactly works. Say if I wanted to sell a throw for $20, how do I receive the payment from the buyer? Am I supposed to send them a link? Do they enter in my e-mail through PayPal? If I’m selling to someone also in the U.S. what is the shipping cost? Under $5? What else do I need to know about PayPal? What do you like and dislike about it? Thanks!
Lets break this down into 4 parts.
1- First you set up a paypal account. If you are younger, get your parents help. Go to their website, follow their instructions, give all info, bank, credit card, what ever they ask for, you need to be able to supply. Bank Routing Number and Bank Account Number along with Debit card info. OR regualr credit card (standard Visa Mastercard type gig thats not tied to a bank account)
After you have been verified which may take a few days, as they will either deposit or withdraw (its been a long time so forgive me) 2 different random amounts and you have to tell them exactly what was deposited/withdrawn. Itll be like .18 cents and .12 cents or something like that. Once thats been confirmed youll be set. You have to do this for one or the other incase you do not have enough $$ in your paypal account to pay for a purchase, paypal will take the remainder out of either your CC or Bank Account, which ever you have it set up with.
In order to receive payment, you give the buyer the email address that the account was set up under. Then they go into their paypal account and put money in based on your email address.
ALWAYS ALWAYS ALWAYS SEND AND RECEIVE $$ FOR GOODS AND SERVICES, !NOT GIFT!
Paypal protects the buyer when they send $$ for goods and services. The Seller will pay a small fee from that deposit. Something like 3% youll have to pay. You may have someone at somepoint want to send as “Gift for Family and Friends” If you do not know them personally, DO NOT do this. They you want to buy something and the seller tells you to send as GIFT, Do not proceed. This is a bright Red Flag for a Scammer. You can ask for 3% extra to your asking price to cover the costs/fees.
Gift is not protected, so if they scam you, your screwed and on your own. If you send for goods and services, paypal has your back.
2- Send them your paypal email address and the rest is pretty clear and simple. Fairly straight forward and instant exchange. The deposit happens immediately into the paypal account, minus your small fees. So an 80$ sale will land something like $77 and change (number is an estimate) deposited.
3- Shipping cost will vary wildly. Size of box or package, weight, how far, first class/priority/express, insurances, signature confirmation, and more will affect the price. Flat Rate Boxes are pretty nice, but their price for a small box is just under 7$.
4- Paypal is very handy for interest shopping and safe guarding sketchy BST purchased. It can be a hassle to set up, but its worth it. One thing i dont like is that sometimes they will hold your money in limbo (pending) for a day or two for some reason, randomly. Also if you have it set up with your bank account you can withdraw straight from the account and never have to load the paypal account, and you can also put money from your paypal into your bank account. Going TO the bank from paypal will make your money disappear for a day or two while it lands in the bank, but the other way (bank to PP) is instant. So heads up about that. Just be patient during the verification set up or during bank deposits. Those just happen to take some time.
I vote that YYE should accept Bitcoin
Too iffy in my book.