Paypal questions

2 min read

Deviation Actions

Wonderlandawaitsus's avatar
Published:
581 Views
If anyone has information on how Paypal works any information would be helpful to me. I've noticed that a lot of people that do commissions and even some adoptables use Paypal. It seems like it's really useful to use and I'm interested in getting one, but I'd like to know as much information about it as I can before I actually apply for one.
          So, questions I have...

:bulletred: 1.) Does it expire?
:bulletblue: 2.) How can it be used?
:bulletyellow: 3.) How can/ is the money tranfered from one person to another in the form of the payment?
:bulletblue: 4.) Is it a physical card (like a debit/ credit card) that can be carried with you (put in a wallet)?
:bulletred: 5.) Is there a limit as to how much your Paypal account can hold?
:bulletred: 6.) Can you check the balance of your Paypal account?
:bulletyellow: 7.) Are you alerted to recent tranfers/ or activity on/ for your account?
© 2013 - 2024 Wonderlandawaitsus
Comments18
Join the community to add your comment. Already a deviant? Log In
Reverrii's avatar
1.) i dont believe it does
2.) it can be used in a few different ways. you can either send money to others or they can send it to you. im sure there are many other uses for it as well, but those are the only two ive come across/ ever used.
3.) its done through emails. for example, if you had to pay me, i would give you my email that is conected to my paypal account. (ive never sent money to someone else so im not too sure how this next part works) but id assume youd find an option that says send money or something like that, and youd type in the amount of money youd like to sent, and then the persons paypal email that youre sending the money to.
4.) i think paypal might have that option, im not really sure, but ive only used it online. it will let you transfer money right from your bank account all through the internet, and you can send and get paid all through the internet.
5.) sorta. it can hold as much as you want, but you can only transfer over 500$ each month to your bank account, so if you had 1000$ to transfer over, it would take you two months to do transfer all of it.
6.) yes you can. as soon as you sign in, it should bring you to a page that shows your latest transactions, and the total amount have currently have saved in paypal. you can also go back through your history and see all the transactions youve ever made.
7.) paypal will send you an email when a transaction has been made. but again, it also shows you your recent transactions for the past week or so right on your main account page.

i hope this helps a little >_<

the only other things i can let you know of, is that you do need to have your own checking account, or the approval of your parents to use their checking out. otherwise you will NOT be able to take the money out of paypal. you can still buy things online if they accept paypal, but being able to transfer it all to your checking account is very useful. there is NO fee for transferring your money to your bank account, however, when someone pays you money, there is a fee. is lets say they send you $1, youll only get like $0.75 (<- thats a made up number) what i do is find a paypal calculator online, and put in the amount i want to sell my art for, say $6 and it tells me i should really charge $6.48 because there will be a $0.48 fee overall. this way when paypal takes out the fee youll be left with just $6. its a tad annoying for the buyer im sure :[ but i havent found a way around this yet.
other than that, paypal is really great and really useful. its definitely worth having and using!

i hope this helps a bit >_<