Banking/Paypal Query


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Hey all. I'm thinking of selling some old computer stuff on Neobay and I was wondering Is it best to have a Paypal account. What is it all about and is it safe etc ? What does it do. I have a general Idea People can pay into your pay pal account and then they pay money into your bank ? Am I right ? Any help would be greatly appriciated

Sawyer12

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I use paypal and its pretty secure, you can also get a debit card from paypal which is good for when you need to take money out, I'm not quite sure if they deposit money into your bank account, I don't think they do that but you can get a check to deposit the money or the debit card which is faster and easier

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Not sure If I asked this back in Feb, Might have done when I was thinking of signing up for E Bay. So If I wanted to sell some stuff on Neobay how would it work ? Just curious ? Thanks in advance.

Sawyer12

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Paypal is pretty much a bank. To open an account you need to give paypal the routing number to an existing real bank account that you already have.

Paypal is fairly secure, but scammers are coming in droves in recent years, so be extremely cautious no matter what.

I don't recommend leaving large amounts of cash in your paypal acount or giving paypal multiple bank accounts. If a buyer files a "non-delivery refund claim", your money will be frozen automatically and instantly. This happened to me just yesterday actually.

I have heard many horror stories about paypal in the past few month so my trust in it has dwindled. Now that paypal has frozen more than 300 dollars of my money, I don't want to have anything to do with them.

I'm not saying you should stay away from paypal, just use extreme caution and dont rely on it too much. It's not paypal's fault these things are happening, its because of all the scammers out there.

I think I know quite a lot about the inner workings of paypal, ebay, etc, so if you need more help you can PM me I'll be happy to give you detailed tips.

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