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Posted by Todd Wilson on Sunday, February 10, 2008 at 12:30:11 :
In Reply to: PayPal question for the experts posted by Clint Dixon on Sunday, February 10, 2008 at 10:31:50 :
You need a paypal account to send or receive money via paypal.
If you have a paypal account right now you can receive his payment. After you accept and Paypal charges you their fee your money will be in the paypal account. From there you can buy stuff on ebay with that money or I believe you could request a check be written and mailed to you. If you want the funds to be available to you right away and used for other things besides paypal or ebay then you have to set up your paypal account with a checking or savings account # that you have. You must go thru the waiting period to get verified. When you start this process paypal sends your checking account 2 small deposits of a few cents. You got to wait until you see these ammounts hit your account via your online banking or waiting until your paper checking statement shows up the following month. Once you see the amounts you go back to paypal and enter those amounts and that way they know your account is good which is a safety for both of you as you dont want to transfer funds to someone elses account.
After you are verified its a matter of clicking the button to move the funds from your paypal account to your checking account. May take a day or 2 to have the transfer complete.
Todd