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Reply by mvflaim

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Posted on Paypal blues

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mvflaim

189 posts in 3265 days


#1 posted 09-11-2010 03:42 PM

The way I use PayPal is like this.

I sell a bunch of stuff on eBay and get a total of $500. That $500 is automatically deposited in my online PayPal account. I can either use that money in eBay or I can transfer it to my personal bank account. Or I can request a PayPal debit card and use the money through that card. When I go shopping through brick and mortar stores, I can whip out my PayPal debit card and the money is immediately withdrawn from my online PayPal account. However, when I shop online with the vendors that accept PayPal, the PayPal button will send me to a secured PayPal link where I enter my email address and password. When I hit the submit button, the money is immediately withdrawn from my online account just like as if I was using my debit card. The vendor never sees my email address, password or card number. All info is exchanged through PayPal’s secure website.

The one thing I want to add is you should never use your PayPal debit card number as a credit card online. PayPal debit card is like holding cash with no buyer protection. If you send a vendor your PayPal debit card number, they can use it like it was their own card. You just gave them your 16 digit number and they can go out and buy whatever they want as long as there is enough money in your online account to cover the purchase.

Hope it helps.

Mike


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