withdrawing funds in my paypal account

[richardnewsom]

Hi all

I wish to know the following.

if someone was to send me an amount of money as a 'gift' can this be withdrawn (tranfserred to my bank account) immediately once in my paypal account.

alternatively, on another note, if I was to sell something privately but the buyer use paypal as a payment method, how long do I need to wait before I can transfer the money to my bank account.

Thanks for any assistance on these 2 questions

Regards

[robsteer]

If no security reviews are flagged then you won't need to wait for a personal payment to come into your account/ be withdrawn. Normally, withdrawals take a few minutes to 2 hours to complete to your bank. In some cases security reviews can apply which take 24 - 72 hours to complete but these are rare depending on the standing of your account.

If you receive a payment for goods or services that you've sold then if it is on eBay, this can go under ship to funds, in which if you ship the item out with tracking then the funds are available 3 days after the delivery date.

But payPal will always tell you when a review is going to apply, or if you transction is going on ship to funds. But normally, it will be available in your balance instantly for you to withdraw through the faster payments system.

Hope this helps!

Rob

[richardnewsom]

Many thanks

what if the transaction is not via Ebay?

I am selling a couple of my horses, one potential buyer has insisted on paypal as a payment method but some of the terminology used is very similar to the car scamming that goes on.

I am curious as to how these people operate and more over, how Paypal allow it to operate.

If a payment is made and then held for a period by paypal, how can the purchaser eventually get their funds back and more over, how can the seller get their product (in my case a horse) back.

if someone pays funds into paypal and there is a dispute, surely the purchaser cannot get the money back until the dispute is completed...is this the same if the purchaser pays via a credit card through paypal or is it a bit of a game where the seller tends to back down and reduce the price to a stupid amount to end up with something rather than a major headache.

[robsteer]

PayPal can only really cover animals in certain cases and I don't think horses are included, just things like small tropical fish haha. If the customer issues a chargebck with there bank and the bank allow the funds to be pulled back, PayPal would not be able to remburse you, this only happens in certain circumstances. 

If the transaction is outside of eBay then it will most likely just clear straight to the account, it may go on a security review just to make sure the transaction is legitimate.

If it seems a bit dodgy in the language they are using then it might be best to offer cash on collection, that prevents any way of the bank pulling the funds back.

if they insist on PayPal, only agree to hand the horses over once you can definitely see the funds avaiable on PayPal but as I said, I'd advise cash on collection as PayPal can't cover animals under seller protection.