Cali_Ed Posted January 20, 2014 Report Share Posted January 20, 2014 So I've googled but haven't found a clear anwser. My question, I have my bank account tied with it, do i have to have immediate actual paypal balance or can i freely transfer money to someone with my bank account thats tied to my paypal? Quote Link to comment Share on other sites More sharing options...
Microgunner Posted January 21, 2014 Report Share Posted January 21, 2014 I've always kept my PayPal balance at zero and transferred funds through PayPal via the card I have linked to the account. I've never seen any reason to keep funds in my PayPal account. Quote Link to comment Share on other sites More sharing options...
Cali_Ed Posted January 21, 2014 Author Report Share Posted January 21, 2014 Thank you sir Quote Link to comment Share on other sites More sharing options...
392heminut Posted January 21, 2014 Report Share Posted January 21, 2014 I do it the same way as Micro, never keep funds in the PP acct. The only time any money sits in there is when I transfer funds from my son's credit union account to make his motorcycle payment. He's in Okinawa so it's easier for me to transfer the funds and make the payment and it's actually cheaper to transfer the funds to PP ($1)than it is to transfer them to my bank account ($2)! Quote Link to comment Share on other sites More sharing options...
shibiwan Posted January 21, 2014 Report Share Posted January 21, 2014 (edited) If you have a low/zero balance in Paypal and make a paypal payment or transfer to someone else, you get to select the source of the funds (if you have multiple cards or bank accounts linked to Paypal) and the funds are withdrawn from the account (or card) and sent to the recipient. Fees 1. In a standard Paypal "payment" the recipient pays the fees (about 3%) no matter where the funds came from. 2. If the funds are sent as a personal transfer/gift/etc, no fees are applied at all ONLY when you use a bank account to fund the transaction. 3. If the funds are sent as a personal transfer/gift/etc and funded by a credit card, the SENDER pays an extra fee (about 3%) My company does a ton of Paypal transactions every month and we only keep a minimal rolling balance of about $100-$200 in our Paypal account just to pay for our shipping (which is done through Paypal). We found it safer this way due to the amount of fraud (usually unauthorized charges to our Paypal debit card) floating around on Paypal. -S Edited January 21, 2014 by shibiwan Quote Link to comment Share on other sites More sharing options...
Cali_Ed Posted January 21, 2014 Author Report Share Posted January 21, 2014 Well time to start buying a poop ton of stuff lol Quote Link to comment Share on other sites More sharing options...
392heminut Posted January 21, 2014 Report Share Posted January 21, 2014 Yup, Shibi nailed it on the fees. <thumbsup> Quote Link to comment Share on other sites More sharing options...
shepp Posted January 21, 2014 Report Share Posted January 21, 2014 I leave mine at zero also they just pull it from linked acount. Last time I went to buy somthing I had 100$ in there I'd forgot about it was kinda like finding a 20 in a pair of jeans, SCORE! Quote Link to comment Share on other sites More sharing options...
Robocop1051 Posted January 21, 2014 Report Share Posted January 21, 2014 I get rid of shiit on Ebay all the time. I always have a few bucks sitting in my PP account.... It usually gets eaten up recharging the wifes Starbucks card. Quote Link to comment Share on other sites More sharing options...
shibiwan Posted January 21, 2014 Report Share Posted January 21, 2014 Transferring money out of Paypal asap is our SOP. We actually have a special "Paypal-only" bank account that is linked to Paypal. When we transfer money out of Paypal (thousands at a time) it goes into that account and we immediately transfer that out to our business account and keep the transfer account almost zero. That way if we ever get f*cked by some Paypal crap, only the linked bank account is that "special" bank account that never has any balance so we limit the damage. Been using Paypal for years and keeping to our rules/procedures has kept the business safe from any Paypal shenanigans so far. Quote Link to comment Share on other sites More sharing options...
EasyEJL Posted January 21, 2014 Report Share Posted January 21, 2014 the only time I leave a balance in paypal at all is when someone else sends me money. I have enough recurring payment things (Netflix, etc) that come out of my paypal account, so if someone sends me $100, it doesn't take that long for it to disappear Quote Link to comment Share on other sites More sharing options...
Magwa Posted January 21, 2014 Report Share Posted January 21, 2014 I am basically the same first off I opened a checking account just for Paypal it is NOT linked to any of our other accounts and i keep my paypal money in it sometimes, but for the most part i have a card linked to PP and i use the card for all transactions.... Quote Link to comment Share on other sites More sharing options...
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