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.

You have to transfer from paypal to bank acc.

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

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..

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.

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?

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.

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

Thanks fergoose

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.