The Yak Shack Forum

I was hoping that someone here could help me with questions about my paypal account.

I have a paypal account set up at the moment. I am an Australian Varified member, but my account is for US not the AU account/site that has just been opened. I have my account set up with my credit card.

How can I start recieving payments? If I send a request for money or post an auction can I start recieving payments immediately or is there something else I have to do (ie do I need a bank account) also, will the money go to my bank account or will it just sit on my paypal account?

Sorry to ask all these questions but the Paypal site is so confusing that I cant find the answers anywhere so I was hoping someone here might be able to help  :D

Thanks!

I signed up with Paypal before the Aus site opened - I think it defaults to it if you are an Aus member.

Payments received go into your Paypal balance. You can choose to keep a balance open in most of the major currencies - I have a US, UK and Aus one open. It just makes it simpler for me to see what I am dealing with.

You can transfer funds in your balance to a bank account - you must provide bank details. Otherwise, the funds stay in your balance and you can use them up there.

oh ok, so do I have to change anything in particular except if I want to put my bank account on there? It is set for US currency I think, do you have to do anything to have the account open for UK and AUS currency as well? Ah paypal, so confusing to me  ???

There is an option there that allows you to open aother currency balance apart from the default US one. Go to the Profile tab and its under the financial information option (Currency balances) - you can open a balance(s) there.

Thanks heaps, it worked!! Cool!!
You are the best :P

You also need to decide whether to accept credit cards.  To do so requires switching to one of the business accounts.

oh ok I will have a look. Do people commonly do this?

I did because more people will bid on an auction that accepts payment via credit card.  Otherwise, buyers have to pay using only a bank account or PayPal balance.

BUT, once you have a business account, you will pay fees on all money transferred to your account.  For example, I bought some magazines for a friend on the forum.  I told him the exact amount to pay (items plus shipping).  Even though it wasn't an auction or an item I was selling on a website, I was charged a fee for the transaction.

i only upgraded to a business acount cos someone payed for an auction with paypal from within Australia, even though my auction stated direct deposit etc for Aussies. A request for another method of payment failed, so I had to upgrade and now I pay fees all the time which is a real pain...

oh ok, well I think I will try it just the normal way at first and not the business way cause I dont want to be charged the extra fees all the time. YUCK!!

Thanks for the help guys, you are all really great and the paypal website is hopeless unless you want to sit there for hours and hours working stuff out.

I wonder if there is a way to downgrade to a normal free account...?

I believe you can, but I'm not sure how to do it.

If you don't do it often, it should be OK - I have a business account just for that purpose, but as I don't sell much, its not really an issue for me!

Now I have a paypal question!

I won an auction, with postage it totals $us7. I have us5 in my account, so when I go to pay for the auction, it selects the 5 from my account and $2 from my credit card. I want to pay for the whole amount with my cc, but it wont give me that option. Any ideas?

Nope - I also needed to ask that question...

I wanted to pay for an auction with Paypal balance and credi card (as I did not have enough money in either option) which combined was enough to do so - but it would not let me do it. I had to transfer funds into my credit account to do it, but in this case, it took ALL the funds out of my credit card account but left the Paypal balance untouched.

Hmmm... ???

Ive temporarily opened another account with my other email address, Ill transfer my $5 in there, make the cc payment then transfer the 5 back...

Sounds like a pain in the a** for $5 ;)

yeah, but once that 5 is gone I cant put any more cash into the account, so its worth it  :-\

Does anyone know how I upgrade to accept credit card payments??

I thought it was a 'business account' that you had to start, but it asks for business details and I dont know what to put in this section cause I dont have a business name etc...

Me confused  ???

you need to upgrade to a premier account...

Cool thanks I will try that then!  :D

Hey that is really wierd!!! I went to upgrade but it said 'our records show that this account is already a premier or business account' or something like that, then I went back to my account and it says premier account up the top......this is very strange cause I dont ever remember signing up for a premier account....

oh well, too easy now I guess  :D

Spooky paypal ready your mind  :o

well that makes things easy  ;D

 :o I know!!! How strange....

I hope ebay doesn't start doing that, you could buy all sorts without even touching the keyboard  :o