I had sold quite a bit of stuff on Ebay until they made using Paypal almost requisite. Now that I am retired, I would like to start selling stuff on Ebay again.
Although many people will just allow Paypal access to what ever accounts they have, I really don’t like the idea of giving them access.
I have a checking account and debit card that I use exclusively for my PayPal account. PayPal does not get any access to other account numbers from me.
E Bay owns Pay Pal so that is the only way to deal on e Bay, It is double dipping if you ask me. There are other places to sell like HO interchange, Ho swap 1&2, you have to join all 3 to use them.Jim.
We have an account/credit card/chequing account and what ever else is required at a completely different bank than all our personal accounts. There are strict limits on the accounts. As an example we set a $1000.00 limit on most things like the credit card.
This account is for online/mail order shopping/business only. That way if anyone did compromise our account it is limited to that one financial institution. No one can tell where we do our real banking.
I gave them my charge card number to debit for purchases that I make. The wife doesn’t like when they debit the checking account because that is immediate. In other words, we benefit from the float.
On the selling side, they simply hold the money in their proprietary PayPal account until I transfer it out.
Let’s just answer Mark’s question and not turn this thread into an anti-eBay rant.
I use eBay as both buyer and seller. For the services provided and the protection afforded, their fees are not outlandish.
I sold MR stuff in January to guys in California, Texas, and New York for some very good prices. How else am I going to do that?
I have recently bought some items on auction that I simply cannot find in several local hobby shops in my area or on line retailers. How else was I going to find those items?
It is my understanding that PayPal does not have access to your accounts unless you authorize a transfer or payment. PayPal is an actual bank located in California. As such, they have to go by all the laws that apply to banks. It is just like using another on-line bank. I have had an account with them for over 10 years and used them for paying anyone that takes PayPal, as well as eBay, and have never had a problem with them. I have transfered money in and out of my PayPal account, also with no problems.
Yesterday I passed the 1000 feedbacks mark on Ebay - all 100 percent positive. Sales are mostly trains and coins and all kinds of other “guy stuff”.
Each year end I hold 55-100 auctions. As a retired business analyst, I just have to keep spreadsheets on how I made out. My net is based upon the sales price, less Ebay & PayPal fees, excess postage, and shipping materials. My lowest net was 74 percent, my highest 88 percent, with the life to date average at 83 percent.
Ebay gives you a huge audience, some excellent security, and a well oiled website in which to work. Of course that is my opinion based upon my experience and needs.
If others feel likewise, that is fine. If they don’t, then just use something else.
I opened a separate credit card and requested a 2k limit. This card is only used online for PP / ebay and other internet or mail order purchases.This gives me another layer of protection against a bad seller. I can dispute a charge with the CC company if PP does not correct the problem.
No way will I link my PP account to the bank. Its just not necessary.
Even if you set up purchases to be debited to your checking account, when you log in to PayPal to authorize the payment on a purchase, the default option is a debit to your checking account. If you are not careful and just press Continue following your log in, your checking account gets debited.
Incidentally, when you set up a PayPal account, you have to provide information on your personal checking account, even if it is not used to debit purchases.
Never had a problem on ebay paying, I contact the seller and ask if registered (a bank) money order will be accepted , only had one turn me down, most sellers like M/O’s as they are cashed same day- - no cost.
I have continued to buy stuff on Ebay by asking the seller if they will take a Money Order. However, now I want to start selling again and a large percentage of buyers are only interested in buying things, if they can use Paypal.
I talked to my bank today and thought maybe I could set up a special savings account to use for Paypall to draw from. This means I must maintain a minimum of $100.00 dollars in it at all times. I’d like something simpler, something that is “mine” so the wife doesn’t get the bills for what I’ve bought. I don’t hide stuff from her, just feel this is my hobby to do with what I want.
It was so simple when I could buy and sell with a Money Order, kept my money in a box near my work bench, it was my hobby money!
I have a separate checking account and credit card for my hobby funds. My wife has her hobby accounts also. And we each know the other has them and they have nothing to do with any of our house accounts. We also have a household budget that puts a nominal amount equally in each of our accounts each month.
I would stick with opening accounts at a SEPARATE banking institution in SEPARATE accounts for all your dealings on Ebay/PP. That way they are separate and won’t get mixed up with personal banking at all.
I have had my : credit card; checking account; screen name; online account; passwords; etc. all compromised at one time or another. It took herculean efforts to get them cleared up by cancelling cards and accounts and having to re-establish new ones, with some monetary losses incurred never to be returned to me.
I now keep all credit cards and accounts used online or when travelling SEPARATE from the “real money” {what little we have} and accounts at SEPARATE institutions.
That way if I have a problem, I know the LIKELY source that compromised it/them.
SAD today that with all this technology we have, we cannot PREVENT such things happening BEFORE it happens.
If I were you, I would do as others have suggested, and as I suggest: open separate accounts at a separate bank to use for your 'busi
No one has mentioned this yet, but for purchases there is an option called “Bill Me Later”, in which you can still pay for transactions with either a personal check or a money order via snail-mail. Here is the website ( I think BML is owned by PayPal )
You will usually see it underneath the “Bid Box” on a listing. If it’s not there, it shows up when you click on the tab to make the payment. I’ve been using that option for about a year.
The downside is that while Bill Me Later gives you 30 days to pay, if your payment arrives late, they tack on a “hefty” surcharge. I don’t know how they calculate it.
My first encounter with PayPal was for an on-line purchase which I was doing with a credit card. The site directed me to PayPal as an option, and, after reading up on it, I decided to use it. The only information they asked of me was the credit card info and my e-mail address. I originally used it only for on-line purchases, but last year I had some custom decals printed to honour a fellow modeller who had passed away. Almost everyone who wanted decals used PayPal, while a couple used cheques or sent cash. Because I was doing this as a tribute, I charged exactly what it cost me, plus the postage, so I made no money on the transactions. This way, buyers were able to place their payments in PayPal with no fees deducted, as it was basically just a transfer of funds. If you’re selling stuff for profit, they do deduct a small fee, but it’s not, in my opinion, unreasonable. I think that it’s a useful service, as you don’t need to reveal your card or bank info to sellers.