I am an eBay numpty

[VitaEstBonus]

OK - I have now sold my first ever item on ebay (a bag £109, not bad!)

I immediately got an e-mail saying I had an 'instant payment'. It shows in my paypal account, but not my bank account. Will it automatically transfer & how long does it take?

I was just about to send the parcel when I thought I better check I actually had received the money.

[poppysweetie]

You have to transfer from paypal to bank acc.

[Imnotaslimjim]

i think you have to move the money from paypal to your bank account. But if its clear funds in paypal, you've been paid and you're safe to send the bag

[VitaEstBonus]

Well thanks! I had absolutely no idea you had to do this as when you buy stuff via paypal, it is taken straight from your bank account

I've transferred it now..

[fergoose]

make sure you post the item special delivery or courier - for that value recorded will not be enough. You can then enter the tracking number into paypal for the buyer to track the item too.

[VitaEstBonus]

I really am new to this.

I calculated the postage as 1st class recorded (£5), does this mean I'll have to pay loads more than I charged?

[fergoose]

not necessarily, but recorded only covers you up to £46, so if the item gets lost that is all you can claim from Royal Mail, i would suggest special delivery. It is for your own protection, and of course getting a signature for delivery prevents buyer trying to claim item not received and clawing back the paypal payment.

[fergoose]

oh and you will of course still have ebay fees to pay - they will invoice you for those.

[VitaEstBonus]

Thanks fergoose

[aswellasyou]

My guess is the postage will cost £7 if you were charging £5 for first class recorded. Well done selling your first item. It can get quite addictive although it's hard work sometimes.