Getting money out of PayPal - idea - please critique - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Platform Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 03-23-2008
Junior Member
 
Join Date: Mar 2008
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 93%
iTrader: (0)
Default Getting money out of PayPal - idea - please critique

I need your opinion on this, be critical.


First, the original idea:
Accept eBay payments on ⊗⊗⊗⊗ PayPal (verified with gift card), and then send that balance to my real PayPal, and from there into bank account or ATM.

This has a flaw, since I read PayPal will limit both accounts if you do this often.

The new idea:
Setup a dummy website, selling dummy goods, that accepts PayPal. Thus, I purchase dummy goods using my ⊗⊗⊗⊗ PayPal, and money is flowing into my real PayPal, and from there I put it into bank or ATM.

What kidn of dummy goods? If you are selling DVDs, those could be same DVDs in bulk, etc.


What do you guys think?




P.S. Yes I know merchant account is better. But PayPal is easier and allows you selling off the bat. Getting a merchant account is a hussle if you're only plan on selling for 30 days and less than $500 per account (leaving eBay stuck with their fees)
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 03-23-2008
Junior Member
 
Join Date: Jan 2008
Posts: 1,143
Thanks: 0
Thanked 16 Times in 10 Posts
Activity: 0%
Longevity: 94%
iTrader: (0)
Default

Paralax, I used both of these methods myself. On a new account, paypal will see you are just sending your funds to the same place, and will limit you.

I purchased an item via my online store with my ⊗⊗⊗⊗ paypal, the second time I did this, I was limited. So that won't work.

The only possible method I can think of is buying preloaded gift cards or vouchers, but I can't find anywhere in the UK that will allow you to do that with paypal.
Reply With Quote
  #3  
Old 03-23-2008
Junior Member
 
Join Date: Jan 2008
Posts: 445
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 94%
iTrader: (0)
Default

why don't you just get another checking account, and use it to set up a paypal account. then you can wait the 60 days and get a paypal debit card. you can then buy walmart money orders to empty the paypal accounts.
Reply With Quote
  #4  
Old 03-23-2008
Junior Member
Threadstarter  
 
Join Date: Mar 2008
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Would they limit both accounts, if both accounts are in GOOD standing?

I just can't use my original account because it is linked to suspended eBay account.
Reply With Quote
  #5  
Old 03-23-2008
TotallyDisgusted's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 196
Thanks: 0
Thanked 2 Times in 1 Post
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Have same situation and doing what twdell suggested in post.

I can't use my original pp account because of suspension on EB. I opened a new pp account which is backed-up by an INGdirect Savings account. To get $$ out of this pp account, I simply transfer it to the INGdirect and then from the INGdirect, I transfer it to my "main" bank account. Haven't had any problems so far.
Reply With Quote
  #6  
Old 03-23-2008
Junior Member
Threadstarter  
 
Join Date: Mar 2008
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Quote:
Originally Posted by TotallyDisgusted View Post
an INGdirect Savings account.



Ohhhhh, that's a good idea!!!! I luv you for sharing that. Tell me more.


If PayPal desides to do back pay on your ING savings, will ING take money from your checking if you get over drawn?


You have to wait 5 days on all new deposits before you can transfer them into checking?




Man, I'm signing up right now! If anything I can close it later. Need to know if PayPal back charges your ING account, will ING take money out of your checking.. That's like a weak link in business, not knowing if PayPal will screw you.
Reply With Quote
  #7  
Old 03-23-2008
TotallyDisgusted's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 196
Thanks: 0
Thanked 2 Times in 1 Post
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

paralax:

1 - have not had any back pay (yet) from pp. I did NOT link my main bank account w/ING but simply transfer back & forth between the two. I believe if you link the bank accounts...the chain effect can occur...PP to ING to main account.

2 - I do not believe there is any wait time for new deposits. Not sure if I am answering your question directly but I needed $ in this ING account, so I transferred x-amount from my main bank to ING on Thursday. It is scheduled to be clear for use on Monday...so I guess it takes 3 business days.

Understand your concern about PP taking back charges but if ING and your main account are not linked, how could they get to your money?
Reply With Quote
  #8  
Old 03-23-2008
Junior Member
Threadstarter  
 
Join Date: Mar 2008
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Are you using INGdirect Orage Savings?


I just opened one, they required me to link a checking account.
Reply With Quote
  #9  
Old 03-23-2008
TotallyDisgusted's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 196
Thanks: 0
Thanked 2 Times in 1 Post
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Yes, using INGdirect Savings. Actually opened a 2nd savings with them & all is well w/that account also.
Reply With Quote
  #10  
Old 03-23-2008
TotallyDisgusted's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 196
Thanks: 0
Thanked 2 Times in 1 Post
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

To add -- from ING Direct:

Do I have to change banks?
No. In fact to have an account you must have a personal checking account with another institution. We then link your personal checking account to your Orange account. You can easily transfer funds from or to your Orange account without charge. Do transactions online at ingdirect.com, by using the Interactive Phone System or by calling an ING DIRECT associate. Funds generally move between your Orange account and your linked account within 2-3 business days.

What is a "LINKED" account?
At ING DIRECT we create an electronic link between your existing checking account you use for your initial deposit and your ING DIRECT account(s). This electronic link makes it easy for you to transfer money whenever you want. You can link up to 3 non-ING DIRECT personal checking accounts. To make a deposit or withdrawal, simply initiate a transfer using our website, Interactive Phone Service, or by calling an ING DIRECT Associate. Learn more about 'linked' accounts.
Reply With Quote
  #11  
Old 03-23-2008
Junior Member
Threadstarter  
 
Join Date: Mar 2008
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

In your ING Direct account view, when you click on My Links, does it show anything?
Reply With Quote
  #12  
Old 03-23-2008
TotallyDisgusted's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 196
Thanks: 0
Thanked 2 Times in 1 Post
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Yes, it does show my main account.
Reply With Quote
  #13  
Old 03-23-2008
Junior Member
Threadstarter  
 
Join Date: Mar 2008
Posts: 25
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Ahh, so your main account (or your checking account) is linked to ING savings account. And thus the original concern. If PayPal does a charge back on money you transfer into your ING savings, and ING savings buttoms out, will they take money out of your main account..


That I'm guessing is unknown at this point. But I bet it is safe to assume that's what will happen.

It's the weak link in using PayPal. SUX, totally..
Reply With Quote
  #14  
Old 03-23-2008
TotallyDisgusted's Avatar
Junior Member
 
Join Date: Mar 2008
Posts: 196
Thanks: 0
Thanked 2 Times in 1 Post
Activity: 0%
Longevity: 93%
iTrader: (0)
Default

Understand what you are saying but to reverse that, I posted a question regarding purchasing:

Q - If I purchase item on EB using PP account that has zero funds & ING account has little or no funds, will the purchase chain -- eb to pp to ING to main account.

The answer was no. I must have some funds in my ING account to cover purchase. So...if the above scenario does not chain, not sure if PP charge back would chain. Know what I mean?
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
how to get money out of paypal umaga PayPal Talk 3 02-13-2008 11:30 PM
how i would withdraw money from paypal Slavaja PayPal Talk 5 01-29-2008 11:13 AM
newbie here: my idea of how to get funds off my ⊗⊗⊗⊗ paypal account...critique plz smyth eBay Suspensions 15 01-13-2008 07:42 PM
Using two PayPal accounts on 1 computer? bad idea? keceli eBay Suspensions 16 12-21-2007 10:26 PM
a geat idea on how to get a new paypal and ebay account that won't be suspended, ever ihatebay eBay Suspensions 15 04-29-2007 01:49 PM


Aspkin Group

All times are GMT -5. The time now is 12:32 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58