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I keep a separate checking account at a different bank with between $200-300 in it. I link that to my PayPal account. I usually use my credit card for PayPal for the additional protection. I've had hundreds of PayPal transactions over the years and never had a problem. At one point you had to have a bank account linked to use PayPal. I don't know if that's the case anymore.
No one seems to have noticed the comment I made about PP charging a higher fee for international transfers if the account is a credit card vs. a direct account. As best as I could tell, it would be 0.5% if linked to an account, and 3.9% if going through a credit card or debit card.
No one seems to have noticed the comment I made about PP charging a higher fee for international transfers if the account is a credit card vs. a direct account. As best as I could tell, it would be 0.5% if linked to an account, and 3.9% if going through a credit card or debit card.
That's a given, has been true for a long time with PP and most other payment services. If the payee or service doesn't want to absorb the credit card fees, they include them in the cost.
(Merchants accept a 1-5% discount on credit card purchases, called the merchant fee. If you didn't know.)
Not sure if your tone is sarcastic or not. Hopefully not.
Some here seem to feel better linking their PP to a credit card... but its higher fee to do that for international purchases. I haven't seen anyone mention that except me.
I spoke with my credit union today about this. I removed the overdraft protection from this account, and they said that if someone tried to make a charge, and the account is empty, it will be rejected. I would incur a $25 overdraft fee, but if this was due to fraudulent use of my PP account, they would refund it.
Not sure if your tone is sarcastic or not. Hopefully not.
No, no, not at all my intention. But it's not common-enough knowledge that merchants pay a price for accepting credit cards, and if it's a cash transaction like PP or a very low-margin one, they often push some part of that cost back on the buyer.
Quote:
Some here seem to feel better linking their PP to a credit card... but its higher fee to do that for international purchases. I haven't seen anyone mention that except me.
No sarcasm, but most who use PP and such know this, which is probably why it slid by. I see absolutely no reason not to have PP linked to both an account and a card, but then, I don't spend my nights sitting up guarding my finances with a shotgun, either. (THAT's sarcasm.)
There are financial tools that need close watching for fraud and abuse. AFAIK, PayPal ranks very low on that list. Other than scams where PP is incidentally involved, I've never heard of a loss through manipulation of the process. (Those who use elaborate double-bank, empty-account techniques with their PayPal account are welcome to point to any I missed.)
No one seems to have noticed the comment I made about PP charging a higher fee for international transfers if the account is a credit card vs. a direct account. As best as I could tell, it would be 0.5% if linked to an account, and 3.9% if going through a credit card or debit card.
I noticed it, I just ignored it because my advice is to fund it from a checking account anyway which makes it a moot point.
It would be refused. That happened to me once, although in my case the charge was legitimate and just came through a couple of days earlier than anticipated.
Actually, I take that back. You have to have your PayPal account linked to at least one checking account and one card, so in theory if the bank account was empty it would charge the shortage to the card. In my case the card linked to the account was a debit card for the linked checking account, so it denied the charge.
Lol, I had mine the same way for years until somewhat recently. Thankfully it didn't happen when I overspent one month in college!
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