Quote:
Originally Posted by SteveBooth
The best way is to give your checking account number,bank name and routing number to Paypal, It's somewhat of a lengthy process. Once your setup anyone can make a deposit into your Paypal account which is separate from your checking account. You can leave the money in there or use that account to buy other stuff or you can just click on the whole amount and say deposit to my checking account. It's really easy and works great.
They also have a debit card that you can apply for and many other options. There is a fee for transactions but it's far less then the Mastercard and Visa fee's.
There is a fee for getting your money out of Paypal,not sure of the percentage,but I think it's like 1-2%?.There is no fee however for paying someone on Paypal.I use it alot for Ebay purchases and have sold stuff on there and gotten paid thru Paypal.
Here is a transaction that I had where I recieved funds for payment thru Paypal and had the funds deposited into my bank account,looks like 2.9% charge
"eBay Payment Received" "Completed"
$505.00" "-14.95" "490.05" "Withdraw Funds to a Bank Account"