Paypal

[Tadpole]

Okay, so I thought I should set up a paypal account for internet shopping.

But I don't get it. Do I have to transfer money into it? How do I do that? Or does it take the money directly from my bank account? And what details do I give when using it?

I'm not usually this dim, honest!!

 

[daftscotslass]

You usually set up a card (credit card or switch) that PayPal will withdraw money from every time you pay for something. You can also set up a bank account and transfer money to your PayPal and obviously if you want to withdraw money that people send you. If you don't have any money in your PayPal and no credit card set up then it will withdraw from your bank account, called an E-cheque. These are a pain in the arse for the people you're paying because they can take up to 14 working days to clear so obviously can create a big delay in you getting whatever you've bought.

You don't need to pay to send money but there is a small charge for receiving money. Withdrawing money is free over £50 and there's a small (25p I think) charge if you withdraw less.

You need to give your card details, address, phone number and bank account if you want to.

Hope that makes sense!