Pay Pal question

[Taylor Martin Guild]

I have money in a PayPal account from the sell of a guitar.
If I buy another guitar over the internet and use PayPal to pay for it, will there be another charge from PayPal?
What if I just have the money transferred to my bank?

 

[Qvart]

I have money in a PayPal account from the sell of a guitar.
If I buy another guitar over the internet and use PayPal to pay for it, will there be another charge from PayPal?
What if I just have the money transferred to my bank?

PayPal only charges for receiving money. If you leave it in your PayPal account and use it to buy another guitar, there won't be a fee. Or if you transfer it to your bank account - no fee. But you can only transfer up to $500 from PayPal to your bank per month.

 

[GAD]

I have money in a PayPal account from the sell of a guitar.
If I buy another guitar over the internet and use PayPal to pay for it, will there be another charge from PayPal?
What if I just have the money transferred to my bank?

PayPal only charges for receiving money. If you leave it in your PayPal account and use it to buy another guitar, there won't be a fee. Or if you transfer it to your bank account - no fee. But you can only transfer up to $500 from PayPal to your bank per month.

I don't think that last part is accurate. I've bought and sold WAY too much through paypal, and have transferred thousands at once to my bank.

Is that a new rule or are you non-preffered or whatever Paypall calls it?

GAD

 

[Qvart]

Is that a new rule or are you non-preffered or whatever Paypall calls it?

GAD

Right right ... I forgot that detail. It depends on the type of account you have with them. My bad.

I think my account is "preferred" or whatever they call it, but I'm a relatively new customer or something. All I know is they "prefer" to take a nice slice of my cash when I receive money!

 

[Taylor Martin Guild]

So how do I find out if I can cash out all of MY money?

 

[Qvart]

So how do I find out if I can cash out all of MY money?

If you log in to PayPal it should tell you want kind of account you have. There will be info there telling you what you can do and what the fees are, if any.

If you're planning on using the money for another purchase I would say just leave the money where it is and pay for the next one with PayPal. No fees for spending.

 

[Qvart]

But you can only transfer up to $500 from PayPal to your bank per month.

Update:

I sold three guitars (for my housemate) on Ebay so I have money to transfer from PayPal to my bank account. I just logged in and when I went to the link to transfer money it told me my limit per month to transfer was $500. I noticed a link that said "Lift limit" and when I clicked on it I was asked to do 2 of 3 things: verify Social Security number, link a bank account, or link a debit/credit card. So I completed that step and the limit was lifted.

There ya go.