How does paypal work?

[AdamL]

How does paypal work?

[Paint Your Wagon]

If you are not up to reading 10 pages of small lettres

In essence you sign up with a credit card and the receiving party gets like 3% less then you sent
If there is an exchange of currencies it was like 3 to 5% extra cost split over both parties
Now the sender has the option to take all cost on himself

Initially there is a limit on what you can send or receive because they try to earn more money by
"forcing" you to upgrade
However if your credit card is verified that is all that what is needed by me . In practice your
credit card company will sent you a one time code and you type it into paypal and you are
verified .

I only know about the sending side ; I was rarely on the receiving side so that restrictions there did
not matter to me

[Triggersmob]

or you can upload funds from your bank account. You don't have to use credit card.

[Paint Your Wagon]

or you can upload funds from your bank account. You don't have to use credit card.

True but I get 30 days credit for free and uploading money has only disadvantages to me since the
electronic money stays 3 days underway ( they used to call that a dirty float in the 1981 MBA program
I finished ; nowadays nothing is dirty anymore ; even your money disappearing for good )

[Humpybong]

I always use PayPal for there buyer protection program.

[TwoShadows]

I have used PayPal for quite a few years but finally, a couple of years ago, moved everything AWAY from the damned credit cards and have the money pulled directly from my bank account. If by chance I am on the receiving end all I have to do is take a few seconds to have PayPal transfer it to my banking account. (This part is free) Either way it takes about 3 to 5 days to complete. I like the convenience but still hate paying a middle man for anything as the banking industry is so full of rip-offs these days. Crooks taking care of crooks!

[Paint Your Wagon]

An  electronic transfer from my bank to a german bank takes 3 days
To debit my account takes 30 seconds
Every transfer is free however 

[Madspec]

You can also get the PayPal Debit card then you can use the money instantly as it is a Master Card which you can use almost anywhere. There is no charges for the card or the usage in an store.

madspec