I need a sorta crash course/general overview of this online payment system. Anyone has used it? What are the pros and cons? Thanks.
I have been using it for years. It's an excellent service for quick payment (sending or receiving) for auctions, or simply to send money around the world to anyone with an email address. The only con is that they charge you a percentage on each transaction, as well as a fee for transferring money to your bank account.
Fret, how does the person with an email gets paid? Do they send him a check or transfer electronically to his bank account? How much is the transaction fee, generally speaking?
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*Originally posted by Roman: *
Fret, how does the person with an email gets paid? Do they send him a check or transfer electronically to his bank account? How much is the transaction fee, generally speaking?
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Well the person with the email will have to eventually sign up to get paid. There is no fee for receiving money, but there is for sending money. I'm not sure of the exact percentage is, but it should mention it on the site www.paypal.com .
.....and its' all done electronically, right away. When transferring money to your bank account, it takes about 2 days.
Have you ever transferred money overseas using it? Does it allow it?
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*Originally posted by Roman: *
Have you ever transferred money overseas using it? Does it allow it?
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Yes, I've transferred funds to Europe. It's instantaneous, and you can choose which currency to transfer the funds in. There are only certain countries which Paypal works with. There is a list on the site.
if you are planning to do transactions to and from europe then you might want to consider www.moneybookers.com too
^ Thanks Faisal.
Gotcha, Fret and heart beat. Thanks.
Roman:
instead of wasting precious time of the members, you could have just clicked on "How it Works" type of a link on their website and it would have explained everything.
ghalib, meiN boht susst hooN.