Could someone simplify what will happen to Paypal payments please

Hello, I'm not a business.  I buy and sell here and there.  I prefer Paypal and when I sell I use Buy it Now.  My average balance in my Paypal account is around the £100 mark.  Now when I have to change to this new payment method with everything going through Ebay not Paypal, if someone pays me by Paypal I presume it will no longer go into my Paypal account and I'll have to physicially move it myself from my bank account so I have enough in there for when I purchase something?  Am I right?  Sorry to sound stupid, in my 60s and the videos I havge watched don't seem to mention what happens when people pay you by Paypal. Thank you

View Entire Topic
plum993
Experienced Mentor

You will still be able to pay by paypal and if you dont have enough money as a balance in your paypal account you can either transfer money from your bank, or paypal will use your preffered method to pay for item on ebay (like your bank account or credit card) just like they do now.

 

Its alaso worth mentioning its not wise to hold to much money in your paypal account before transfering to your bank account  in case of paypal account holds on your paypal account.

 

As for selling and taking paypal payments, that will continue as normal until everyone has been moved over to the new managed payments,then buyer payments will go through ebay not paypal,and be sent to your bank account within 4 days of payment initiation .You will not pay paypal fees anymore under managed payments,only ebay fees!

(Ebay will basically have there own paypal account)

 

 

Ask a question