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Help me out with Paypal please

1414 Views 16 Replies 8 Participants Last post by  davefan13
I have been thinking about getting a paypal account so that i can sell and buy some stuff online, but i have a few questions.

first off, i would just like an account where i can buy and sell things over places like ebay and aquabid.

second, i don't have a credit card (i'm only in high school). can i still have an account? and when i recieve payment do i just have like a running balance in my account, and i can have the money sent to me by check at any time?

third, are there any fees?

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If you are still in High School I am not sure if you can even get a paypal account without your parents authorization. Also you do not need credit card you can get buy with a bank account it just takes longer
I've had a paypal since I was 16. I was probably a little more savy about money at that point though, since I worked in accounting. You can have a paypal by using a bank account. You need to verify it by going to the bank and asking about 2 very small deposits paypal makes into your account (it's like a couple of cents), and then you can use it. With this kind of account, you are limited to a certain number of transactions per month.
would you be able to set up a paypal account with a savings account, or just with a checking account?

any answers??
I would think you would be able to, just verify the small deposits Paypal puts in there.
ok, i'll have to check up on this.
ok, i got the OK from my parents. now i have to set up an account.

i want to have it linked to my savings account (i don't have a checking account). any ideas on how to do this?

and does anyone know if there is an age limit on how old you have to be?

Read the paypal help page:

Generally, you have to be 18 to sign a contract, but it may be different for this.
ok. what i really think that i need is for someone to just explain what i have to do to set up an account. if anyone would be so kind, and would like to do it over the internet (instant messenger) or phone, it would be wonderful. i am just confused on what to do here, and i really need to get this account.


still, i have no answers. i don't know if i need the

Email Payment thing, or what.

can anyone who has a paypal account just tell me what kind of account they have and what they can do with it?

much appreciated,

Personal account: Send money, receive money. CANNOT receive money from payments funded with credit or debit cards.

Business/Premiere: Everything a basic (personal) account can do PLUS receive money from a credit/debit card. They charge 30 cents + 2.9% per transaction though...or similar fees.

You can have it linked to a bank account or not. If you do, you can transfer money from/to your bank account which is quite convenient.
I have been using Paypal since I was like 15. Mainly I was using an elder's credit card information. This was before I knew I could of use my Bank Account info through Paypal.

All you have to do is sign up on the Paypal site.

Once you have signed up, log in and on the left hand side there should be a link that says, Add Bank Account.

There you will need to add the routing number of your bank, and also your bank account number. Once that is completed, it should take about 3-4 business days for Paypal to send you the small deposits which are no more than $0.25 cents. Once you have received the deposits, Paypal will ask you to activate your Paypal account by confirming the desposits. Once you have, your account will be activated in the next 48 hours.

Once that is done, you can start sending and receiving payments. I believe Paypal only allows you to receive 5 credit card payments per month. You also have a $500 limit that you could spend or deposit per month.

Hope that helps, if you have any more questions just feel free to PM me or contact me through AIM.
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ok, that helps a ton. i don't know if i should go with the cc or non-cc paypal. being able to recieve, i mean. with the business account, do they just charge the 3% if you are recieving a payment via credit-card funded account?

i will probably go with the business account. thanks for all of the help!
If you have a business account, you incur charges for ALL transactions, not just those funded with a credit card.
oh, ok. i will have to think about it. 3% doesn't seem like a lot, but it will probably add up in the long run.

thanks for the help
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