Multiple identity account Posted July 5, 2015 Share Posted July 5, 2015 Hey,I'm really really sorry if this all sounds so stupid but actually looking up the Paypal account didn't satisfy my queries and I'd also like to hear about your experiences with Paypal.OK, so basically I am 19 years old but I do a lot of 3D modelling and as usual I'd love to sell my products now that I very much satisfied with my work and feel it's worth a fee. I now do a lot of 3D modeling for 1:450, 1:76 and 1:87 scale models. I'd love to sell my models via Shapeways or if people want finished products I'd love to sell directly. The only easy way apparently for transaction of payments is via Paypal.I'd just like to know a couple of things, 1) How does Paypal basically work? Is it linked to an individuals bank account or is it completely separated and requires a certain amount of money to set up before transactions can be made and from there on the Paypal balance is determined upon how much money goes out or comes in?2) I'm sure a lot of you'll (if not all) use Paypal and so can you'll suggest that it's a step in the right direction? Is it safe and secure?3) What about dealing with different currencies? For the work I'll doe I will be required to deal in American Dollars, British Pounds Sterling, Emirati Dihrams and Indian Rupees. How is this overcome? 4) I've heard that for India you still have to pay an extra transaction fee along with each payment. How much extra is that? Being in a moderately strict household and coming from a backward country we do have our worries, so my apologies if I sound silly asking about this. Cheers! Link to post Share on other sites More sharing options...
asmay2002 Posted July 5, 2015 Share Posted July 5, 2015 1) Paypal transfers money into and out of a bank account/card. 2) So far I have not had any problems 3) It does different currencies automatically. 4) No idea about India specifically but there is a small fee charged on every transaction. Link to post Share on other sites More sharing options...
hayfield Posted July 5, 2015 Share Posted July 5, 2015 To set up a Paypal account linked to a credit/debit card so payments for purchases can be deducted immediately, Income from sales stays in your account and can be used to buy items or you can transfer to a nominated bank account Selling you pay a small fee which is deducted from the transfer, you can (in the EU) transfer money from your Paypal account to another account free of charges (used to be a minimum of £50 for free transfers to own bank account in the past), may be charges for small withdrawals in some countries You can use your Paypal account to buy other products fee free You get paid (in full) in your local currency, the buyer pays any exchange rate fee if charged at all Link to post Share on other sites More sharing options...
Arthur Posted July 5, 2015 Share Posted July 5, 2015 Nothing to add to what has been said other than that I have used PayPal for several years and never had a problem. From a buyers perspective, I am always delighted to see PayPal as an option, it makes the transaction so quick and simple. Link to post Share on other sites More sharing options...
RMweb Gold Colin_McLeod Posted July 5, 2015 RMweb Gold Share Posted July 5, 2015 Go for it. Best of success with your business venture. Link to post Share on other sites More sharing options...
Multiple identity account Posted July 5, 2015 Author Share Posted July 5, 2015 Thanks guys! Wil have to convince dad now to let me move forward. Link to post Share on other sites More sharing options...
RMweb Gold Oldddudders Posted July 5, 2015 RMweb Gold Share Posted July 5, 2015 I've used PayPal as a buyer for more than a dozen years - never had a hint of a problem in nearly 500 transactions. The fact that your bank details are kept away from those of your customers/suppliers is good for both of you - suspicions cannot be aroused. Link to post Share on other sites More sharing options...
Bill Posted July 5, 2015 Share Posted July 5, 2015 Once you get into the intricacies of using PayPal - it is fairly straightforward to understand what is going on. It just a takes bit of getting used to. One of the great features is that you can specify the currency you want to be paid in at the time you create an invoice for a customer. For example I have to source most of my base product using American Dollars - so it makes a lot of sense to get paid in American dollars. Rather than being paid in wobbly Canadian Dollars - the currency of my home country. So you don't have to accept Rupees or any other currency, when using PayPal. It is great tool - a little pricey but saves a lot of bother especially for international transactions. Good Luck with your venture... Link to post Share on other sites More sharing options...
Multiple identity account Posted July 6, 2015 Author Share Posted July 6, 2015 Thanks guys! Link to post Share on other sites More sharing options...
John_Hughes Posted July 7, 2015 Share Posted July 7, 2015 It is indeed excellent - like the others here, I've used it for years and had no problems. A Paypal account does have to be linked to a 'real' bank account - though I think that it doesn't actually have to be yours! - and they check that it's really 'you' out there by transferring a tiny amount of money into that specified account and asking you to confirm the transaction details. Apart from that it can function completely independently of any bank account; and you can also get a Mastercard linked to the Paypal account so that you can pay for stuff with that as well and the money goes straight out of your Paypal balance. It's brilliant! Oh, and good luck with the business! Link to post Share on other sites More sharing options...
Multiple identity account Posted July 7, 2015 Author Share Posted July 7, 2015 Thanks John..... Link to post Share on other sites More sharing options...
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