paypal question

So how does this whole paypal thing work. I understand the basics. I've paided for things before with paypal but i have never recieved money. I'm asking this question because I'm about to sell some things and I would like to recieve money through paypal.

All of that information is outlined on their site. Which portions of it do you have difficulties understanding or interpreting?

If I give my email address to send funds too, then what happens.

Hello Rob,

The funds are sent to your PayPal account. PayPal subtracts its fees and the rest shows up as a balance in your account. You can make a withdrawal to your bank account to get your funds back in your possession.

Tom

Thats pretty strait forward. Thank you for all the help

I think you need to go to PayPal and do some reading on the different types of accounts they have. You likely have a personal account. As things now stand, you can't receive credit card payments with a personal account. Also, there is a limit (I believe $500/month) as to how much you receive or withdraw (transfer to your bank account). Premier don't have those limitations, but you get charged a fee (2.9% + $.30 per transaction, lesser percentages for amounts over $3000). Be sure you have the right type of account to handle what you want to do. Also, if it matters to you, if you don't withdraw the money you receive, it will be used the next time(s) you pay for something with PayPal.

So what is the difference between credit card paypal and cash paypal.

If you have a personal account, you don't get charged anything to recieve money, but you cannot accept payments made with a credit card. If you have a premiere account, you can accept credit card payments, but you are charged a fee on all payments, even "cash" payments from a paypal balance or from a bank account. Many people who take a lot of payments set up one of each type of account. That way they can have "cash paypal" payments sent to the personal account with no fees, and still take "credit card paypal" payments through the premiere account and only pay the fees on those payments.

According to the info on PayPal's website, it is ok to have both a personal account and an premier account.