Selling on eBay - how does payPal work ?

[Kayleigh]

Just a quickie. I have bought items a few times on eBay but would like to use it to sell some stuff.

I have a paypal account which uses my credit card to make payments when I buy stuff.

If i sell stuff and accept paypal payments do the funds get credited to may credit card ?
Am not sure how I get the money ?

Thanks

No, you have to open a merchant account with them (or change your existing one to a merchant account). Then the money builds up until you decide to withdraw it (I think they can transfer it to your bank but there's a charge). Remember they charge for the transactions too which is why many ebayers tell people to add money for paypal transactions.

Look at the merchant info on the paypal site.

when you accept a payment via Paypal it goes to a separate 'Paypal Account' in your name. Then whenever you want to claim that money you go in to Paypal online and transfer it to an account you have set up with them.
mine is my bank account so it just gets credited (usually within a week or so). They used to charge 50p per withdrawal so I used to let mine build up a bit to cut down the charges (as they charge you a percentage per transaction as a seller too!).

Not sold anything for a bit, but I think now they don't charge per withdrawal.

Think I understand now. Thanks, you have been really helpful. Am going to do it !!!!