Just signed up for ebay..paypal?

Question

is that just another form of credit card?

and also, should the money be in my checkings or savings account?

Answer 1

Pay pal is just a holding company that transfers funds for one account to another. You can not buy things using pay-pal that you do not already have the funds to back. As far as which account to put your money into will depend on which account you want to use. I personally use my checking account for pay-pal because I use it a lot for both debits and credits and my savings account only allows so many transactions a month before I have to pay a fine.

Answer 2

No, it is not another form of credit card, just a service for paying for and receiving payment for stuff. (they probably do have a credit card that they may offer you to take out, and I know you can get a debit card to access your account, but the basic answer to your question is no.)

Your safest bet is to pay with a credit card, then you have recourse if there are any problems, but if you can't or don't want to do that it really doesn't matter if the money comes out of your savings or checking account. You can use either. Just depends on where you keep your money I guess. Both are equally safe.

I can tell you not to bother paying for stuff with e-checks... that will just take a lot longer for the check to clear and get whatever you bought because the buyer has to wait for it to clear, just like a regular check.

There's lots of good information on both the paypal website and on ebay in the community discussion forums. I urge you to be well educated. I have never had problems with Paypal but there are people that have, and those that do complain loudly (don't get scared). Just follow the rules and use common sense.

Have fun :-)

Answer 3

PayPal is more like a financial institution. You can link your bank account, to a credit card, and you can even get a PayPal Debit card. It doesn't matter what account you use, as long as you make sure you keep money in it to cover whatever you pay through PayPal.

I have my regular checking account linked to my PayPal account.

Answer 4

Be careful on EBAY/Paypal. Scammers paradise.

Answer 5

No, it is not a credit card at all because it has to be secured with a bank account.