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March 16, 2008

Using PayPal On eBay

I have heard negative comments about PayPal and there are people who proudly exclaim how they will never use PayPal on eBay - or anywhere else!

Why Every eBay Seller Should Use PayPal

* No offense intended, but that's a foolish attitude. The bottom line is that the vast majority of eBayers EXPECT the PayPal option and if they don't get it, they're likely to go elsewhere. Meaning, to your competition. Not a good thing.

* Most folks know that eBay owns PayPal and their systems are designed to work together. This makes it super-easy to combine your PayPal and eBay accounts. PayPal is an online bank (sort of) and buyers like the convenience.

* The 'old' PayPal required that anyone paying with the service had to have an account. That was a turnoff to anyone wanting to pay without opening an account and it hurt sellers. But that hasn't been the case for quite some time.

* PayPal also allows any seller to accept credit cards, which is a must these days.

Verifying Your PayPal Account

So if you don't have a PayPal account, today is the day to open one. If you want a business account - and you do if you sell on eBay - then PayPal will verify your account information by sending two small auto-deposits of a few cents each. Once these deposits show up in your bank account, log into PayPal and enter the exact amounts.

You can accept money as soon as your account is opened, but you can't withdraw money until it is verified.

Adding The PayPal Option To Your Auctions

This is easily done. When you use the “Sell Your Item” form on eBay, simply click the “PayPal” button. eBay/PayPal will need the address you use for PayPal {or only one address, if you use multiple addresses for Paypal, like I do}. Once those two small details are handled, you can accept PayPal from eBay buyers.

To Accept Unlimited Payments

The initial PayPal account is free - but there is a limit on how much money you can accept. To accept more, you will have to upgrade your account, which is free and easily done. You will then pay a small fee for each transaction, but the cost is more than worth it. And ... you won't be able to accept credit cards until this upgrade. PayPal will do it automatically once you've reached a certain volume in sales, so why wait?

Posted by SydneyJohnston at March 16, 2008 5:41 PM

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