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Posted by retiredpostaldude on Thursday, June 12, 2014

I'm a novice when it comes to a transaction when buying a banjo on BHO .How does paypal work ?   If party A wants to buy a banjo from party B... and both have paypal accounts .What is the procedure?  Thank You

7 comments on “Paypal”

Banjosnob Says:
Friday, June 13, 2014 @2:46:55 AM

1. Sign up for a PayPal account, if you don't have one.
2. If you want to send money from your bank account, get Verified.
3. Log in to your PayPal account.
4. Click the Send Money tab.
5. Enter your recipient's email address and the amount.
6. Review your transaction, then send it.

retiredpostaldude Says:
Friday, June 13, 2014 @6:19:29 AM

Thank you very much .... now if I can get this info to party B ... well then it should work ... Thanks again for you help ! Donny

jswkingsfield Says:
Friday, June 13, 2014 @11:23:54 AM

Donny: Suggest that you be very careful when you "Send Money", to check off the box that your payment is for goods. Last I checked the Paypal terms of service, are that if the payment is for goods, Paypal buyer protection should apply. Paypal will deduct its fees from the amount sent to seller, which is why many BHO sellers ask for additional payment for Paypal transactions. Money sent to "Friends/Family" is without a fee, but also without any hope of recovery from Paypal if there is a dispute between buyer and seller.

retiredpostaldude Says:
Friday, June 13, 2014 @11:59:21 AM

Janice ... that's great advice. Thank You for your help with this matter. Donny

GStump Says:
Wednesday, June 18, 2014 @10:47:14 PM

all the notes and comments are correct. however, just so there's no misunderstanding - paypal charges a minimal fee for each and every transaction they handle, regardless of how it's marked. i believe the minimum fee is 35 cents. and for sure there are some paypal horror stories. just research a bit or check yourself. i have experienced a few myself! having said that, i do use it... sometimes one just hasn't much choice.

Banjosnob Says:
Thursday, June 19, 2014 @2:36:35 AM

2.9% + .30 is all the SELLER pays. The buyer never pays fees.

jswkingsfield Says:
Thursday, June 19, 2014 @9:01:09 AM

I was just noting the practice that many sellers on the BHO, will ask the buyer to increase the sales price to expressly cover the Paypal fees. It's all a pass through.

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