Help needed on paypal!

[madflurry]

Hi anyone did any purchase oversea using paypal before?? Is there any charges for it?? And is there a charge for converting SGD to USD???
Any help would be appreciated! Thanks!!

[CKS]

Hi anyone did any purchase oversea using paypal before?? Is there any charges for it?? And is there a charge for converting SGD to USD???
Any help would be appreciated! Thanks!!

depending on which account u're getting from paypal
registration is free but will allow only up to USD500 transaction, think u've to pay abit (1-2USD) to upgrade to full account with unlimited transaction.

what do u mean by charge for converting SGD to USD?
Some (if not most) non-asian sites that accept paypal r using US currency for business, which site will u be buying from?

[MicroHeli-Nut]

I'm also thinking of signing up with paypal. Care to share more? I've read a lot of bad stuff about it... so I'm still making up my mind... please share any personal experiences about it too....

[CKS]

hmm.. bad stuff? from paypal themselve or hackers?
its really one of the more accepted mode of payment, coz some oversea vendors wouldnt wanna entertain credit card from asian countries.
Security wise, maybe get another credit card with very lil amount in the account for online transaction (also to hookup with paypal)

I'm also thinking of signing up with paypal. Care to share more? I've read a lot of bad stuff about it... so I'm still making up my mind... please share any personal experiences about it too....

[dirtdynamics]

Why not get a debit card.
Works justs the same and with your own money.
Then you can basically limit e amount of money that you keep inside for any transactions you have planned.
I usually keep a minimum amount and top up to what i need to make payments.
If a hacker wants my money then he probably won't get much.

Paypal has been a good riend for me to make and receive payments dealing with overseas customers/members

Paypal does not charge anything if you are sending payment.
Paypal takes 3% if you are a seller and receive funds.
Balances can be managed in many currencies mainly US dollar being the main currency used.

Exchange rates are those prevailingly set by Banks so they fluctuate and change daily.

Right now, 1USD = 1.601SGD
Good time to buy, not to sell, trst me LOL....

You can go to www.paypal.com to read more.

Cheers! !!!!!!!!!!

[dirtdynamics]

Oh yes, conversion of funds is usually free but banks may take a fee or sorts, usually minimal if you not the super calculative type that keeps 1 cents in a bottle kind.. LOL

[nic]

To upgrade to full account.. you "pay" a nominal fee of USD$2 I think...
what actually happen is.. PayPal bill your credit card this fee... and when you receive your credit card bill, you will see a unique transaction ID from paypal.

Once you key the ID code into your paypal account, you will receive the USD$2 credit in your paypal account to offset your next purchase.

They use this method to authenticate the card holder.

I actually prefer to use the "limited account" so that payment is restricted to USD$500....

There are quite a few fake paypal sites.. so just be careful when your are making payments.. make sure you are not tricked into giving out your password...

[Mad Armour]

So so good. All purchases are billed to my credit card. I don't sell so I don't get to receive funds. So far, PayPal has not charged me a single cent yet. There was a refund once but I did not take out the money and used it for my next purchase, so no money was levied.

[Helicopter]

Actively used for many years and no problems.

Wasnt very comfortable giving my Credit card info to merchants so my prefer mode is still paypal.

[CKS]

and some vendors will require u to submit snapshots of both sides of ur card, especially if u're coming from asia. Paypal somehow act as the proxy of trust.

[Helicopter]

Selling my stuffs oversea and receiving funds via my verified paypal account ease the transaction as well.

[MicroHeli-Nut]

Getting a debit card, I need to wait 3 weeks b4 it can be activated leh.... I tot debit cards not always accepted for online transactions?

I've read about paypal freezing up accounts and then those money in those accounts are frozen, and the account user cannot remove the money... and somehow agreeing to paypal "contract" gives them full access to your money account?

Will make a trip down to the bank tomorrow. I wanna get this settled asap. Lots of goodies on offer now too...

[Mad Armour]

Getting a debit card, I need to wait 3 weeks b4 it can be activated leh.... I tot debit cards not always accepted for online transactions?

I've read about paypal freezing up accounts and then those money in those accounts are frozen, and the account user cannot remove the money... and somehow agreeing to paypal "contract" gives them full access to your money account?

Will make a trip down to the bank tomorrow. I wanna get this settled asap. Lots of goodies on offer now too...

If you don't sell, you won't have any funds for them to freeze. They will bill your credit card only when you make a purchase.

[madflurry]

wow thanks for the detailed replies guys. Totally understood what will be happening if i use paypal. Was thinking of getting something overseas and deciding what kind of payment method i'm gonna use. Looks like i've made up my mind.

[MicroHeli-Nut]

Same here....

okok, I dbl confirm again: If I don't sell anything, that means those kind of screwed up cases of accounts or freezing transaction won't happen?


and is there some kind of limit I can put: like say at max only 10% of the bank account funds will be used for transaction?