Tuesday, September 20, 2011

How do i collect money from a paypal account?...

How do i collect money from a paypal account? I am planning on selling something on ebay. How do i get the money from my paypal account?

You can register your bank account (this must be an account that can send out and receive electronic payments) with PayPal and then transfer funds in between your bank and your PayPal account. For information about managing and accessing money received through a PayPal account (go to your country specific PayPal site for local financial regulations guidelines), see here:

https://www.paypal.com/helpcenter/main.jsp;jsessionid=pxjVT1cZcFhmgqTDKKrQ1LV2q5bQ7gv9XndSJFCrG1hpM1pmgrGZ!1869012266?locale=en_GB&_dyncharset=UTF-8&countrycode=GB&cmd=_help&serverInstance=9002&t=solutionTab&ft=browseTab&ps=solutionPanels&solutionId=163301&isSrch=Yes

I hope this helps.



From your average rating of my answer, you appear to have been hoping for better news. I am sorry the news was not better. Sadly, it is not within my power to make the news any better than it actually is. All a solution provider can do is reflect the facts as they are.

The PayPal System is a commercial, revenue generating business model. It is designed to earn revenue for PayPal as well as to provide users with a secure, safe way to complete transactions over the internet. So, PayPal is set up to keep any money in users' PayPal accounts for as long as possible, so that as many transactions as possible are conducted via PayPal, each transaction earning a fee for PayPal.

However, the Law requires bank (or similar financial organisations) account holders to be able to directly access any cash held in their accounts if they so wish. PayPal complies with the Law by allowing money from a PayPal account to be transferred to a bank account as long as that bank account is registered with and verified by PayPal. PayPal can justify this convoluted and indirect method of allowing account holder access to cash, on both the maintenance of PayPal account security grounds and compliance with Money Laundering Legislation grounds.

I believe that PayPal also have an Own Brand MasterCard, operated for PayPal by Santander Bank, to and from which PayPal account funds can also be transferred.

The only other possible way of realising cash from PayPal Accounts, depending on where the user lives, is by purchasing something online with PayPal funds that can then be physically returned for a Cash Refund from a physical branch of the company that supplied the item in the town or city where the user lives.

As an example, in the UK (specifically London), discounted travel can be paid for using a Debit Card called Oyster which can be obtained, for a small, fully refundable deposit, from any underground and most overground train stations as well as from a network of authorised Oyster retailers in the city. It is possible to top up the Oyster card online, using PayPal funds. The Oyster Card can then be cashed in for its full cash balance plus card deposit at any London Underground and most overground Train Stations. The user can then later pay the small deposit for a new Oyster Card.

In this 'Refund' method it is, of course, essential to establish, beforehand, the exact refund policy of the supplier before going ahead with any purchase. Some suppliers may, on security grounds, exercise the right to refuse a cash refund and to, instead, re-credit the relevant PayPal account.

That's all I can think of.

I hope you consider this to be better news.

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