Is it pretty much a different form of credit card? I keep seeing PayPal options on the net. How do you get it and what are the requirements? Is it like a WalMart card (but for all over the internet)?

Paypal is a website. The service it delivers is to take money from your bank account and transfer it to the bank account of webshops. This happens by the instructions of the user.

http://www.paypal.com

An emailaccount is needed to sign up. Paypal will transfer 2 small amounts of money, like $ 0,03 to your account. The new user has to type the amount of money in a security box on the website of paypal or something like this to prove the user is the owner of the bank account.

It is pretty much a website that enables the transfer for money online. Its usually used by those selling or buying products online. You create an account, and then you connect it to either your credit card or bank account. You're able to withdraw money from your back account or credit card onto paypal and transfer money from paypal to your bank account. Its a must if you intend on selling products on ebay, and a lot of people don't like giving their credit card number to multiple sites, so they use paypal instead. I have a paypal account, and thus far, it has worked wonders and made spending money online a lot easier. The only disadvantage is the fact that you have to wait on money to transfer from your bank account to paypal. If you want or need to buy something immediately, and no money is in paypal that is a problem.

This remark seem to indicate that there has to be enough money on the paypal account to be able to pay an order on the internet. The question rises where this experience comes from. Maybe this is the case with huge amounts of money. Because it seems payments can be done by using paypal immediately. And paypal seems to retracts the money from the bank account at the same moment or a bit after the purchase.

Harlot gave a good discription of what Pay Pal is and does. It is simply a safe way to transfer funds when buying/selling products or services from anywhere in the country. (or I suppose the world now.) It is simular to sending money with Western Union, but it is WAY more economical, Western Union's fees are pretty astronomical percentage wise compared to Pay Pals 3%. I saw recently Western Union had a "special" to send $50 anywere for only $5, in Pay Pal that same transaction would of cost you $1.50 any time.

I really like Pay Pal, it has helped my business out immensly. I know when people are seriously interested and fully intend to purchase a pup if they will put a deposit down with Pay Pal. I don't have to put up with the waiting and wondering if the check really is in the mail.

OK, I see. I was just wandering (spelling?) about that.

I've found some true information and false information here. I've been dealing with Paypal for multiple years now as both a buyer and seller so I'll clarify a few things.

1) You do not need to have money in your account to make a purchase. If you do, you can send the money as an immediate transfer. You could also use a credit card for an immediate transfer. If you want to use your bank as an ACH (automated check) it takes a few days but that is another way to pay.

2) As for receiving money it follows the same guidelines as above. To withdraw you can get a check from Paypal, transfer to your bank, or a Debit card.

The issue I have with Paypal is their fees (something like 4.6% + $0.30 per transaction). That adds up fast!

If you want to pay someone without fees for either of you, you have to do it as a gift, which is not protected (meaning if it was for a purchase and the person didn't send the items, you're SOL as you "gave" them the money for free).

Hopefully that clears up any confusion.

I wonder if you have some sort of different type of Pay Pal account to be getting charged 4.6%? For every $100 puppy deposit I get they take out $3.20. Same amount every time, and I've had the account for several years. So I suck at math, but I think that's 3.2%?

Think of Paypal as a form of virtual currency that is traded over the Internet. You can add to your Paypal account by transferring from a bank account or a credit card and can then use your Paypal funds for purchases or for transfers to someone else. Paypal was initially formed for, quite literally, paying your pals for a meal such as for splitting the charges for a meal when you do not have change. It evolved into a payment method for shopping websites and as a means to pay contractors and transfer funds internationally. Paypal eliminates the need for you to hand out your credit card and bank account details and therefore is safer for online transactions. Paypal is also great because it provides an application program interface for you to integrate it into your own software. There is also a simple HTML code snippet that you can paste onto your website for handling the payment at Paypal's end thus eliminating the need for maintaining a merchant account when you have limited transactions. If your Paypal account is for personal use then you do not have to pay to maintain an account and you do not need a merchant account.

paypal is basically just an intermediary to exchange funds from one account to another. They don't charge the person who is purchasing, just the seller. If you are looking to open up an ecommerce site then I would check out their fees at: https://merchant.paypal.com/cgi-bin/marketingweb?cmd=_render-content&content_ID=merchant/wp_standard

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