Could a New Zealander help explain how paypal works in NZ?

Question

I'm going to try my hand at selling and buying on a Live Journal community, and also buy some goodies from Japan using a shopping service.

I realise that I need paypal to do all I have mentioned above.

1. How do I use paypal in New Zealand?

I have signed up for a 'Personal' account, which is free, but do I need to sign up for a business account?

2. Also, do I need to go to the bank to put money on my Paypal account?

3. When buying things, sellers often want US dollars.

My paypal account is set in the New Zealand currency.

Will this cause me any problems, and do I need to switch to US dollars?

4. Also, for those of you who sell items on ebay or communities etc, do you receive payment in US dollars or NZ dollars?

5. What happens when you withdraw the money into your bank a/c? Does it get converted back to NZ dolllars?

Thanks :)

Answer 1

I live in NZ and I use paypal for purchases with Ebay. When I set up my account I had to give them my credit card number. They retain that so any future deals I make, it is automatically charged to the credit card.

From what you have said, have you set yours up as Direct Debit? - the money coming out of your Bank Account? If that is the case, yes, you would have to ensure there was sufficient money in that account when you are charged.

I haven't sold anything - but they do all the converting - ie. if you purchase in NZ something in America or UK - they charge you in NZ dollars - the same would apply when payments are made to you, they would convert the currency/

I don't know anything about the Live Journal site. If it is an international one, I would assume they would display the different currencies. If it is entirely your own website, you would have to display this yourself.