PayPal??

[Larre]

paypal... what is it really?

I know Bill has explained it to me.. but with my very bright mind I forgot...

however... what is paypal?? is it a card? if it a sort of Add-on on your current card??

thx in adv.

// Larre

 

[matty1001]

Its like an online \'piggy bank\'

Its basically a bridge where you can transfer moneys from a bank account or card to a online retailer or other bank account.
You can also store funds in it, but you don\'t gain any interest or anything.

 

[Larre]

sounds quite complicated ???
is it complicated??

// Larre

 

[Roger Bunting]

It\'s not complicated and in fact once you have the account, you won\'t need to enter card details and such when purchasing anything using paypal. Just click on to pay with paypal, log in and click on pay.

 

[Larre]

how does it know where to take the money from?? ??? or do you enter your card numbers when creating an account??

// Larre

 

[Roger Bunting]

Yes, you enter card details or bank account details, maybe both as it may require the card to aunthenticate the account.

 

[No Such Agency]

PayPal really, really wants payment from your bank account rather than a credit card. In fact, to buy from many individual sellers they insist on it. The reason for this is clearly because CC companies can reverse the payment if you claim fraud... and PP sometimes does not protect you very well from fraud (and some claim, acts so because it can then freeze accounts and pocket the balances).

So... \"caveat emptor\" and don\'t let too much $$ sit in your PayPal account in case it magically gets frozen for \"fraud\". You wouldn\'t ever see that money again. But since it\'s the only way to buy off eBay you really have no choice but to open an account.

/has never personally had any problem with PP