Paypal transferring funds ???

[Mike]

I have received sold an item on ebay and have been paid via paypal.

Checking my paypal account I can see the amount there and it offers me the option of accepting the funds or rejecting them !!! I guess accepting them means they are transferred to my bank account ? But what about rejecting them what happens then. Ideally I would just like to leave them there to off set any further purchases but I am not sure if that if possible.

Any recommendation on the best way of dealing with this and want it all meansââ‚ƚ¬Ã‚¦Ã¢à¢ÃƒÂ¢Ã¢â€šÂ¬Ã…¡Ã‚¬Ã‚¦Ãà †â€™Ãƒâ€šÃ‚¢ÃƒÂ¢Ã¢â‚¬Å¡Ã‚¬Ãà ¢â‚¬Å¡Ãƒâ€šÃ‚¦ÃƒÆ’¢âââ‚ ¬Å¡Ã‚¬Ã‚¦..

Thanks

Mike

[Mike]

Just checked the status and it says payment refused ny me Does that mean I won't get it ?

[iadom]

Originally Posted by Mike

I have received sold an item on ebay and have been paid via paypal.

Don't quite follow that, you have received sold an item ??????????

If you reject a payment it is automatically returned to the payee.

[andygrif]

I think I know what is happening here.....

I'm assuming that you have a personal account and have sold an item. The buyer has paid you via PayPal, however they have funded that payment via a credit or debit card, and not via funds that were already existing in their PayPal account.

When this happens you have to upgrade your account to a Premier or Business account in PayPal. Premier is free to upgrade to, but be aware of this....

EVERY payment you receive in a non-Personal account will attract charges against the payment. Check out the PayPal fees page for exact amounts, but it's something like 3.5% PLUS 20p per transaction.

I had the same thing when I decided to flog some stuff of mine. PayPal don't make it very clear that you have to 'upgrade' your account in order to let people pay in this manner.

So your options right now are these:

1. Upgrade the account and accept the payment (and the charges)

2. Reject the payment and ask your buyer to either use PayPal via funds in their account (the only way they can do this is by setting up a direct debit which takes about 10 days, plus 4 days to transfer the cash)

3. Ask them to send you a cheque or Postal Order.

Hope this helps!

[Mike]

Originally Posted by andygrif

I think I know what is happening here.....

I'm assuming that you have a personal account and have sold an item. The buyer has paid you via PayPal, however they have funded that payment via a credit or debit card, and not via funds that were already existing in their PayPal account.

When this happens you have to upgrade your account to a Premier or Business account in PayPal. Premier is free to upgrade to, but be aware of this....

EVERY payment you receive in a non-Personal account will attract charges against the payment. Check out the PayPal fees page for exact amounts, but it's something like 3.5% PLUS 20p per transaction.

I had the same thing when I decided to flog some stuff of mine. PayPal don't make it very clear that you have to 'upgrade' your account in order to let people pay in this manner.

So your options right now are these:

1. Upgrade the account and accept the payment (and the charges)

2. Reject the payment and ask your buyer to either use PayPal via funds in their account (the only way they can do this is by setting up a direct debit which takes about 10 days, plus 4 days to transfer the cash)

3. Ask them to send you a cheque or Postal Order.

Hope this helps!

This makes sense now thanks very much for your time. Buyer resubmitted the payment which I accepted.

Another question.........If I do not withdraw will any future purchases by me be deducted from this amount ?

Mike

[Caspar]

Originally Posted by Mike

This makes sense now thanks very much for your time. Buyer resubmitted the payment which I accepted.

Another question.........If I do not withdraw will any future purchases by me be deducted from this amount ?

Mike

Yes, and remember PayPal charge you for withdrawing from your account to your normal bank current account, when the amount is less than £50.