Receiving payment via Paypal - foreign country & currency - Page 2 - diyAudio
Go Back   Home > Forums > Commercial Sector > Swap Meet

Swap Meet Sell your stuff here, who knows, some other fanatic might be interested!

Please consider donating to help us continue to serve you.

Ads on/off / Custom Title / More PMs / More album space / Advanced printing & mass image saving
Reply
 
Thread Tools Search this Thread
Old 1st February 2007, 10:51 PM   #11
Nisbeth is offline Nisbeth  Denmark
diyAudio Member
 
Nisbeth's Avatar
 
Join Date: Jan 2001
Location: Denmark
Credit cards have to be verified by paypal before they can be used. When you enter a new credit card into paypal, PP will charge you a nominal amount ($1.95 or something). When you get the statement there is a code next to the transaction which you have to enter to confirm that the credit card is yours and then the money charged to your card is credited to your paypal accoiunt. A thief would therefore have to wait until the credit card statement shows up and then steal that as well as the card number before the card can be used with paypal so this should be the least of your worries.


/U.
  Reply With Quote
Old 1st February 2007, 10:53 PM   #12
diyAudio Member
 
jeff mai's Avatar
 
Join Date: Aug 2002
Location: Melbourne
Wouldn't it be preferable to read the Paypal web site for their instructions and rules? You run a big risk of operating under misinformation if you do not.
  Reply With Quote
Old 1st February 2007, 11:19 PM   #13
diyAudio Member
 
spzzzzkt's Avatar
 
Join Date: May 2005
Location: Melbourne
I second Jeff's comments. You have to be aware that the terms and conditions are NOT the same in every country. Fees for accepting/withdrawing money are one specific instance where this applies.

Funding is definitely not confidential, as private accounts can incur a fee for accepting credit card funded payments. The recipient is free to choose whether they want to incur that fee, so you get the option to refuse the payment. I've had payments returned as the recipient choose not to accept credit card funded payments.

Paul
  Reply With Quote
Old 3rd February 2007, 09:43 AM   #14
diyAudio Member
 
Join Date: Dec 2002
Location: dry ol Melbourne Australia
> Wouldn't it be preferable to read the Paypal web site for their instructions and rules?

IME Paypal's web site seems to tell you simple things explictly, other things not well or buried, eg:

- they don't tell you up front that they act like a defacto bank on receiving money, unless you take two actions;

- Of more concern, that in some sitiations, and I still don'y know which, if the receiver doesn't accept the money, he/ she can forfeit it
  Reply With Quote
Old 3rd February 2007, 10:37 AM   #15
diyAudio Member
 
jeff mai's Avatar
 
Join Date: Aug 2002
Location: Melbourne
Quote:
Originally posted by rick57
Of more concern, that in some sitiations, and I still don'y know which, if the receiver doesn't accept the money, he/ she can forfeit it
I'm sure the info you seek is all on the Paypal web site. Millions and millions of people use it. The ins and outs can't be that hidden.
  Reply With Quote
Old 4th February 2007, 01:00 AM   #16
diyAudio Member
 
Join Date: Dec 2002
Location: dry ol Melbourne Australia
Millions of people use Micrsoft Excel, Lotus Notes, etc etc every day. Doesnt mean the "Help" is intuitive to all people, in the right context or always helpful.

I looked for the answer, and the only references I found were for PayPal merchants/ or those using Outlook - I am neither.

Nothing I saw about accepting funds . .

And in PayPal's "How does Email Payments work?" it make no refernce to the 2 steps that avoid PayPal earning interest on your money.

Which is why posted here.
  Reply With Quote
Old 4th February 2007, 01:29 AM   #17
diyAudio Member
 
Join Date: Apr 2004
Location: 12km off the alaska highway in northern BC
Quote:
Ah, but looks like here in Australia too, I need to initiate the transfer from Paypal, by Withdraw Funds

It clearly indicates in the Navigation bar on your paypal account:
"WITHDRAW FUNDS"

Even I as a complete computer idiot was able to figure that one out.
Some folks - me included - leave their money in their paypal account pending ebay purchase.
  Reply With Quote
Old 4th February 2007, 01:57 AM   #18
diyAudio Member
 
spzzzzkt's Avatar
 
Join Date: May 2005
Location: Melbourne
I'm not sure what you mean by forfeit in this context??

Yes, The receiver can refuse payment. I believe there is a time period in which the amount must be accepted or refused, or the system returns the payment. In fact the first item displayed in response to a search for "how long before payment is returned" gives the answer:

---
What happens to payments that aren't collected after thirty days?

Payments that are not collected after 30 days are returned to the sender and marked as "Returned" in the Transaction History. PayPal members can manually reverse unclaimed payments before the thirty-day automatic reversal. Members may also reverse unclaimed payments before the 30-day automatic reversal if the recipient has not signed up for PayPal using the email address to which the payment was sent.
---

"- they don't tell you up front that they act like a defacto bank on receiving money, unless you take two actions;"

You mean there is no clear statement in the Help that you have to first setup bank funding, and then transfer the money to your bank account or the money just sits in paypal? I agree there is no explanation of this until you access the withdraw money tab in you account. But once you do access that area of the account the procedure is pretty straight forward and explained step by step. Perhaps PayPal are assuming that people are not reading the help, and are presenting contextual information instead?

Personally I find it useful to be able to leave US$ amounts in my paypal account as it reduces transaction costs of foreign currency transactions, so I don't find the fact that PayPal retain money in your account until you chose to withdraw it to be an issue.

How much interest do you think you are losing out on?? Even if you've got a balance of $1000 you'd be looking at a few dollars a month at most? I'd be far more worried about what you're losing with the unfavorable exchange rates PayPal uses. Even so at present PayPal seems to the best available solution for small international transactions. The $40.00 or so the local banks charge to make international electronic money transfers makes PayPal's charges look pretty reasonable.

Paul
  Reply With Quote
Old 4th February 2007, 07:03 AM   #19
luka is offline luka  Slovenia
diyAudio Member
 
luka's Avatar
 
Join Date: Sep 2005
Location: in Slovenia :)
Send a message via Skype™ to luka
If I'm getting this right, let say that I was buying something, I pay the price to paypal and wait for seller to send me that thing. But if he can get money before he had sended that was he selling, then he can "legally" steal money from me, rihgt?
__________________
home page @ http://www.classdaudio.tk/ @ 24/7 all year long
I FEEL SLOVENIA
  Reply With Quote
Old 4th February 2007, 07:45 AM   #20
diyAudio Member
 
Join Date: Dec 2002
Location: dry ol Melbourne Australia
ak

> "WITHDRAW FUNDS"
> Even I as a complete computer idiot was able to figure that one out.
I didn't consider Paypal like a bank, I thought of them like a Post Office/ exchange dealer. I was wrong, as they sit on your money, they're also in part a 'bank'.

> Some folks - me included - leave their money in their paypal account pending ebay purchase.
I don't leave money in institutions that make money from me on the exchange rate, then pays no interest. Even most cheque accounts pay interest.

Paul
> I find it useful to be able to leave US$ amounts in my paypal account as it reduces transaction costs of foreign currency transactions
As one with no intention to buy, I hadn't thought of that.

> The receiver can refuse payment. I believe there is a time period in which the amount must be accepted or refused, or the system returns the payment.

I didn't get this option, hence my question
"the Paypal FAQs refer to accepting foreign currency payments, they don't say 'where', and I can't see it anywhere. If anyone has accepted foreign currency payments, how or where in Paypal did you did it?"
I have since seen where it's done with "PayPalís Request Money", but not where it's initiated 'offline' by a simple request, as I had done here, and in the past buying via diyaudio.

> How much interest do you think you are losing out on?? Even if you've got a balance of $1000 you'd be looking at a few dollars a month at most?
Not much, but if you have have a bank account that pays mortgage rates, tax free, it's the opportunity cost. When i linked my Visa to draw money from for purchases it, I thought vice versa would apply - sales would automatically credit back, or PayPal would tell you otherwise, maybe I was naive

> I'd be far more worried about what you're losing with the unfavorable exchange rates PayPal uses.
If you're selling and buying, yes.

> Even so at present PayPal seems to the best available solution for small international transactions.
as long as know the ins and outs.

> The $40.00 or so the local banks charge to make international electronic money transfers makes PayPal's charges look pretty reasonable.
Mine is less, but I agree - I'm not saying PayPal is bad, just that for a first time seller all is not evident.

luka
> But if he can get money before he had sended that was he selling, then he can "legally" steal money from me, rihgt?

I don't think legal is the word

(I have written so much more here than could have anticipated) though the funds are now apparently in transit from PayPal to my bank . . can anyone answer the 'current state' of the original question:
I'm puzzled why I wasn't asked to accept funds ~ does it only apply to "PayPalís Request Money", not where it's initiated 'offline'?"

thanks
  Reply With Quote

Reply


Hide this!Advertise here!
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Not receiving e-mails carlosfm Forum Problems 7 19th June 2004 01:12 PM
Payment method sianturi Swap Meet 2 3rd October 2002 01:11 PM


New To Site? Need Help?

All times are GMT. The time now is 02:22 AM.


vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.
Copyright ©1999-2014 diyAudio

Content Relevant URLs by vBSEO 3.3.2