I just sold some speakers from the Trading Post here to a foreign country.
It’s my first time receiving Paypal funds: I want to be sure the transaction is complete before I send the goods. Beyond giving your Paypal address, does the receiver of funds have to do anything?
Paypal yesterday notified me of funds sent, and Paypal today says Status “Completed”. The funds are not here in my Visa yet, there could just be a processing delay . . but
My reason for asking: I once sent someone in a foreign country, a payment. Because he didn't accept the money - the transaction was cancelled, and the funds returned.
Although 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?
Thanks
It’s my first time receiving Paypal funds: I want to be sure the transaction is complete before I send the goods. Beyond giving your Paypal address, does the receiver of funds have to do anything?
Paypal yesterday notified me of funds sent, and Paypal today says Status “Completed”. The funds are not here in my Visa yet, there could just be a processing delay . . but
My reason for asking: I once sent someone in a foreign country, a payment. Because he didn't accept the money - the transaction was cancelled, and the funds returned.
Although 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?
Thanks
rick57 said:
Hi.
I have sent and received money many times via PayPal with no problems at all.
If Paypal says the money has been received and the transaction is completed, then your Paypal account should show a positive balance.
With my UK account, I have to initiate the transfer from Paypal to whichever account I want, usually my registered bank account.
I do not know about non-UK regulations but it is not possible to transfer funds into my registered Visa or other registered credit card account. This may be a UK regulation.
Did the funds come from a credit card account, bank account or other ?? Although it has never happened to me, I think it is possible for some transactions to be reversed. Check the Paypal website.
Again, I have never had a problem. Most Ebayers are honest. Scams are usually obvious. As a rule, I always check the buyers / sellers feedback rating, especially if under 50 and when selling high value items. I am always wary of buyers / sellers from Africa, Far East and former Soviet Block countries.
Andy
Rick, when you have sent a request and the status is "pending" this is that same as "not paid yet" even though the payment is in progress it can be canceled. "Completed" means that you _will_ have your money. For me it takes a couple of days the money transfer to my bank.
Foreign currency is no problem at all. Since Paypal now has SEK I only use SEK.
Foreign currency is no problem at all. Since Paypal now has SEK I only use SEK.
Thanks
(rather than ebay, I sold the gear from the Trading Post here).
My Paypal account does show a positive balance
Ah, but looks like here in Australia too, I need to initiate the transfer from Paypal, by Withdraw Funds - I thought that like the inverse of sending, it would be automatic back to the source . . Paypal wants our interest
But duffy Paypal doesn't seem to allow bank accounts in joint names (eg husband & wife), which mine are - hopefully the transfer works . . don't want to open a new bank ccount just to get the money out of Paypal
(rather than ebay, I sold the gear from the Trading Post here).
My Paypal account does show a positive balance
Ah, but looks like here in Australia too, I need to initiate the transfer from Paypal, by Withdraw Funds - I thought that like the inverse of sending, it would be automatic back to the source . . Paypal wants our interest
But duffy Paypal doesn't seem to allow bank accounts in joint names (eg husband & wife), which mine are - hopefully the transfer works . . don't want to open a new bank ccount just to get the money out of Paypal
Re: Re: Receiving payment via Paypal - foreign country & currency
thats cool
I am always wondering why buyers and seller in UK do not want to deal with me inspite I have 100% positive feedbacks.
the best to judge people not by where they living but how honest they are
one interesting fact I had over hunderd deals in ebay/audiogon, including east or soviet block countries, and only one time I was ripped of.that was in usa. as soon as he received my money I did not get any replies. luckily it was only 200usd payment not 10 000eur.
poynton said:
thats cool
I am always wondering why buyers and seller in UK do not want to deal with me inspite I have 100% positive feedbacks. the best to judge people not by where they living but how honest they are
one interesting fact I had over hunderd deals in ebay/audiogon, including east or soviet block countries, and only one time I was ripped of.that was in usa. as soon as he received my money I did not get any replies. luckily it was only 200usd payment not 10 000eur.
Re: Re: Re: Receiving payment via Paypal - foreign country & currency
Ebay's own statistics show that is where most scams and frauds come from. About the only thing you cannot prove with statistics is how honest an individual is so, unfortunately for you, you get 'tarred with the same brush'.
I have traded with Asia and former Soviet Block countries but, as I said, I am very wary and always check feedback etc.. I always use Paypal and would never give out my bank details. Ebay has stopped the use of Western Union transfers because of scams.
GERMAN READERS PLEASE NOTE
I buy some items from Germany. However, German users seem very reluctant to use Paypal and prefer to use Bank Transfer. This is so expensive from the UK that it makes trading uneconomic. I am sure that German users would get a better response to listings if they used Paypal.
Andy
elviukai said:
thats cool
the best to judge people not by where they living but how honest they are
Ebay's own statistics show that is where most scams and frauds come from. About the only thing you cannot prove with statistics is how honest an individual is so, unfortunately for you, you get 'tarred with the same brush'.
I have traded with Asia and former Soviet Block countries but, as I said, I am very wary and always check feedback etc.. I always use Paypal and would never give out my bank details. Ebay has stopped the use of Western Union transfers because of scams.
GERMAN READERS PLEASE NOTE
I buy some items from Germany. However, German users seem very reluctant to use Paypal and prefer to use Bank Transfer. This is so expensive from the UK that it makes trading uneconomic. I am sure that German users would get a better response to listings if they used Paypal.
Andy
Be aware..
you need to make sure the PayPal transaction is NOT funded with a credit card. If someone uses a stolen credit card to finance PayPal (happens all of the time), it will take several days for the fraud to be discovered. Usually this is discovered AFTER the seller has sent items. Credit card company will go back on PayPal and PayPal will go back on YOU. Both money and goods will be gone!
Hope this helps.
dg
you need to make sure the PayPal transaction is NOT funded with a credit card. If someone uses a stolen credit card to finance PayPal (happens all of the time), it will take several days for the fraud to be discovered. Usually this is discovered AFTER the seller has sent items. Credit card company will go back on PayPal and PayPal will go back on YOU. Both money and goods will be gone!
Hope this helps.
dg
I've recented received a number of payments through
paypal that is in Canadian dollars.
However, the base currency of my paypal account
is in USD, and so those payments were all 'pending'
until I told paypal to add a Canadian currency
balance to my account. (An alternative was
to convert the CAD payments to USD.)
If I hadn't done that, the payments would have
been cancelled after a period of time (30 days?)
Cheers,
Dennis
paypal that is in Canadian dollars.
However, the base currency of my paypal account
is in USD, and so those payments were all 'pending'
until I told paypal to add a Canadian currency
balance to my account. (An alternative was
to convert the CAD payments to USD.)
If I hadn't done that, the payments would have
been cancelled after a period of time (30 days?)
Cheers,
Dennis
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.
/U.
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
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
> 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
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
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.
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.
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 $40.00 or so the local banks charge to make international electronic money transfers makes PayPal's charges look pretty reasonable.
Paul
Yes, The receiver can refuse payment. I believe there is a time period in which the amount must be accepted or refused, or the system returns the payment. In fact the first item displayed in response to a search for "how long before payment is returned" gives the answer:
---
What happens to payments that aren't collected after thirty days?
Payments that are not collected after 30 days are returned to the sender and marked as "Returned" in the Transaction History. PayPal members can manually reverse unclaimed payments before the thirty-day automatic reversal. Members may also reverse unclaimed payments before the 30-day automatic reversal if the recipient has not signed up for PayPal using the email address to which the payment was sent.
---
"- they don't tell you up front that they act like a defacto bank on receiving money, unless you take two actions;"
You mean there is no clear statement in the Help that you have to first setup bank funding, and then transfer the money to your bank account or the money just sits in paypal? I agree there is no explanation of this until you access the withdraw money tab in you account. But once you do access that area of the account the procedure is pretty straight forward and explained step by step. Perhaps PayPal are assuming that people are not reading the help, and are presenting contextual information instead?
Personally I find it useful to be able to leave US$ 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 $40.00 or so the local banks charge to make international electronic money transfers makes PayPal's charges look pretty reasonable.
Paul
ak
> "WITHDRAW FUNDS"
> Even I as a complete computer idiot was able to figure that one out.
I didn't consider Paypal like a bank, I thought of them like a Post Office/ exchange dealer. I was wrong, as they sit on your money, they're also in part a 'bank'.
> Some folks - me included - leave their money in their paypal account pending ebay purchase.
I don't leave money in institutions that make money from me on the exchange rate, then pays no interest. Even most cheque accounts pay interest.
Paul
> I find it useful to be able to leave US$ 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 "PayPal’s 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 $40.00 or so the local banks charge to make international electronic money transfers makes PayPal's charges look pretty reasonable.
Mine is less, but I agree - I'm not saying PayPal is bad, just that for a first time seller all is not evident.
luka
> But if he can get money before he had sended that was he selling, then he can "legally" steal money from me, rihgt?
I don't think legal is the word
(I have written so much more here than could have anticipated) though the funds are now apparently in transit from PayPal to my bank . . can anyone answer the 'current state' of the original question:
I'm puzzled why I wasn't asked to accept funds ~ does it only apply to "PayPal’s Request Money", not where it's initiated 'offline'?"
thanks
> "WITHDRAW FUNDS"
> Even I as a complete computer idiot was able to figure that one out.
I didn't consider Paypal like a bank, I thought of them like a Post Office/ exchange dealer. I was wrong, as they sit on your money, they're also in part a 'bank'.
> Some folks - me included - leave their money in their paypal account pending ebay purchase.
I don't leave money in institutions that make money from me on the exchange rate, then pays no interest. Even most cheque accounts pay interest.
Paul
> I find it useful to be able to leave US$ 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 "PayPal’s 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 "PayPal’s Request Money", not where it's initiated 'offline'?"
thanks
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