is paypal still a good site to exchange money?

[bcguy]

I have had issues where paypal would sit on some money for 7-10 days that I put into it for payout. In the past, I was not happy about this as it would take the item to be shipped to me at least two weeks.

Do they still practice this? I may have to go this route again..wait and wait and wait.

*edited by moderator* Advertising

[prisonchaplain]

I'm confused by this post. I've used paypal for use, and payment from my account to another was always instant. Payments received would come quickly too.

[bytebear]

I have used pay pal when ordering things online. I bought some sci-fi stuff from Japan (showing my nerdy side), and I used pay pal, but I just used it as a regular credit card portal and I assume the buyer got the money via pay-pal. but using my CC I felt safer using it than putting money into a pay-pal account.

[john doe]

I think he's talking about the escrow option where the money would be paid to a third party and held until the recipient of the goods had inspected them and stated they were in the agreed-upon condition. The money would then be released to the seller.

[tubaloth]

I haven't used paypal in a while. But the whole delay thing depends on if you have an ACTIVE credit card on file.

My CC expired. I bought some stuff on ebay and I paid the person just like normal. It took for ever for them to ship it. I check to see if payment went through. Because I only had a checking account, they had to WAIT until the Money actually came out of my checking account before they would pay anybody.

If you have a CC with Paypal then they can process the payment quicker, because CC is used as a back up if the Checking account doesn't have enough money.

On the down side Paypal does charge pretty high fees. To the seller.

[IamMe]

As a small business owner I use my pay pal for receiving money & when the value reaches high enough, I cash it out to my bank account.

They charge me for changing US funds to Canadian, and for cashing out. It's not really worth it to cash out for anything less than $500.

And yes, it takes upwards of a week for the money to go from my paypal to my bank account.

[miztrniceguy]

My wife has a very active paypal account. She takes payment for her books she sell via our website. She also uses it to get paid for her ebook formatting she does for clients. That is her primary income, and was I surprised by the amount of the tax statement paypal sent. She has a paypal debit card also, which she uses to access her funds without a fee. She also transfers to our checking acct without a fee. Typically takes 2 bank days. That said, she is going to start transferring it more so it won't build up, considering paypals penchant for freezing funds.

[bcguy]

I was really kind of shocked. I used paypal many many years ago, it was days before the money passed hands. now its instant. I may not consider using them more often.