PayPal question.

[Emma]

I'm sorry if this is in the wrong forum, but what exactly is funded paypal? I've never heard that term before. I've seen posts where the seller will take paypal or funded paypal. Does it just mean that they want the person's paypal account to have a confirmed bank account?

Thank you!

[Shay]

It means the account either has money in it or is hooked up to a bank account. The person gets paid right away and doesn't have to wait for am Echeck to clear. Also if a person pays with a credit card it cost the seller plus some people can't take CCPP.

[Emma]

Thanks. I'm assuming that when I do a payment through paypal, that there's an option for me to have it debited directly instead of processing an eCheck? I figured since they already have my bank account confirmed, that it payments would have been instant instead of taking sev days to process.

[mamagina]

Right. If you have it drawing $$ from a bank account it's funded. If it's coming from a credit card, it isn't funded.

The free to accept $$ paypal only allows you to accept funded - if you accept Credit cards, they charge you a fee on all your transactions funded or not. Many mamas have 2 paypal accounts - one for taking funded paypal and one for credit card paypal. Keeps the credit card fees down. If that makes sense??

[MamaJo]

Originally Posted by Emma Thanks. I'm assuming that when I do a payment through paypal, that there's an option for me to have it debited directly instead of processing an eCheck? I figured since they already have my bank account confirmed, that it payments would have been instant instead of taking sev days to process.

I have two accts...one I can do instant transfers from my bank, the other I can't, just echecks I have NO idea why.....

[wbkt8]

Originally Posted by MamaJo I have two accts...one I can do instant transfers from my bank, the other I can't, just echecks I have NO idea why.....

someone told me once that you can only do instant transfers if you have a credit card associated with the account. otherwise it only lets you do an e-check.

[MamaJo]

Originally Posted by wbkt8 someone told me once that you can only do instant transfers if you have a credit card associated with the account. otherwise it only lets you do an e-check.

I have verified ccs on both though

[wbkt8]

hmmm...ok well, maybe that's not it. ahhh paypal.

[MamaJo]

Originally Posted by wbkt8 hmmm...ok well, maybe that's not it. ahhh paypal.

yes, grrr at paypal

[tasbaby]

I'm so glad I found this thread. I'm new too and was so confused about funded paypal. I've used paypal quite a bit on e-bay for buying things and it does take the money right out of my checking out. So, I've got "funded" paypal, right?