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Old 06-29-2007, 02:21 PM   #1
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Can someone explain "funded pp" and "you pay the fees"?

I used paypal WAY back when it first started when I bought a couple of things off of ebay and it was simple - just put in my credit card info and it was paid.

Now I'm surfing the FSOT boards here and keep seeing "funded paypal only" or "you pay the fees for credit card paypal"...

What on earth does that mean and how do you use paypal if you ~don't~ use a credit card? At this point, I'd much rather send someone a MO than try to figure this stuff out...

Thanks for anyone who can help!
-Andrea

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Old 06-29-2007, 03:26 PM   #2
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Re: Can someone explain "funded pp" and "you pay the fees"?

Funded paypal is when you already have the funds in your account (like if you've sold something & someone sent you money) OR if your account is linked to your bank account. A lot of people have a personal account with paypal, and as long as "funded" money is sent, paypal won't charge any additional fees.

But if you use a credit card, the person receiving the money has to have an upgraded account, and paypal charges them to receive the money from you. I don't remember the exact amounts, but it's like $0.65 for $12.

Most people sell items on DS as ppd (postage paid). So once you factor in the cost of shipping & DC (delivery confirmation), no one wants to lose even more money just for receiving their payment from the buyer.
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Old 06-29-2007, 05:53 PM   #3
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Re: Can someone explain "funded pp" and "you pay the fees"?

So I guess that means you can't really use PP if you're not okay with giving them your bank account info? I REALLY have an issue posting that info over the net...since that's our sole account and if it got hacked into then it'd wipe us out...
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Old 06-29-2007, 06:01 PM   #4
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Re: Can someone explain "funded pp" and "you pay the fees"?

I think I am correct in saying yes you can still use it without linking a bank acct but you won't have any money in it unless you sell something and someone pays you via pp.
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Old 06-29-2007, 06:04 PM   #5
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Re: Can someone explain "funded pp" and "you pay the fees"?

I forgot. Since our bank offers free checking I have a totally separate checking account that I use for my pp and eBay only. It is linked to pp so I can get money from that checking account to pay for items that might be more than what I have in my pp. I am able to make transfers from our primary account to this one as I don't EVER leave much money in this particular checking account.
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Old 06-29-2007, 08:36 PM   #6
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Re: Can someone explain "funded pp" and "you pay the fees"?

Quote:
Originally Posted by tiredmommyof8 View Post
I forgot. Since our bank offers free checking I have a totally separate checking account that I use for my pp and eBay only. It is linked to pp so I can get money from that checking account to pay for items that might be more than what I have in my pp. I am able to make transfers from our primary account to this one as I don't EVER leave much money in this particular checking account.
Yeah, I have mine linked to a separate savings account too.
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Old 06-30-2007, 05:45 PM   #7
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Re: Can someone explain "funded pp" and "you pay the fees"?

or u could go to ur paypal and "load" it with funds sort of like a prepaid card. it takes 4 days to clear but it is a one time transfer so if someone got ur paypal they wouldnt go hogwild with ur checking acct!
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Old 06-30-2007, 05:58 PM   #8
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Re: Can someone explain "funded pp" and "you pay the fees"?

I have a personal paypal account that is only linked to a debit/credit card, no bank account number. I can only accept 5 cc payments per year, and get charged 4.9% + .30. to receive them, and have to approve them. I can accept unlimited funded paypal payments without fees. When I sell something, the money sent to me goes in my 'online money' paypal account, which I can spend as funded paypal. If I want that money in my bank account, I have to pay $1.50 to have paypal send a check, or else give my bank account number. Since my account is hooked up to a debit card, money I spend using my paypal account can come from the checking account that it's linked to, I just have to be sure not to spend more than I have in the bank, and I don't keep much in there just to be safe.

Premier accounts that are linked to bank accounts get charged 2.9% +.30 for receiving any payment, funded or not, but can receive unlimited cc payments.

Many mamas don't sell enough to upgrade to getting charged for every transaction, so they say 'funded paypal only'. Some mamas have one personal and one premier account to get free funded payments with one, and unlimited credit card payments with the other, which is why only cc payments need to cover the fees. HTH!
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Old 06-30-2007, 06:19 PM   #9
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Re: Can someone explain "funded pp" and "you pay the fees"?

also want to add, if you want to be safe, you can open a seperate bank account just for ebay and paypal, keep only the amount of money you want to have, like $20 or less, this way you have funded to spend, but if someone hacks into your acount they wont be able to clean you out~ total bank account funds
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Old 07-03-2007, 10:36 AM   #10
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Re: Can someone explain "funded pp" and "you pay the fees"?

[QUOTE=MamaLove;1366428]

Premier accounts that are linked to bank accounts get charged 2.9% +.30 for receiving any payment, funded or not, but can receive unlimited cc payments.

QUOTE]

So people with premier accounts are paying fees no matter what? That's a little annoying, since I used cc paypal the other day. The mama said it was all right as long as I paid the fees. She had a premier account. I don't mind paying fees when I do use cc paypal, which isn't often, but I'm kind of bothered that I wouldn't have had to pay the fees with funded, even though she still would have. Those fees maybe should have been included in the price since she would be paying them no matter what. Do people realize that, or just maybe people don't notice that they are paying fees on all premier transactions?
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