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Why pay 3 Paypal fees?

I am wondering why more people aren't using paypal direct withdrawl from your bank account for payments? There is no fee for this transfer.

It is instant not like it used to be when it took several days to complete.

It is the only service I use and I have never had a disputed payment or any problem, and I have never been charged any fees.

If you are concerned about too much information about your accounts going out, simply open an account just for this purpose and transfer funds into it when needed.

I am curious as to how many people actually know this is a payment option?

Russ
leatherneck1812
tvad
9,467 posts
 
I always suggest Paypal eCheck, which carries a $5 fee to the seller. It
does take 4 days to complete the transfer from the buyer's bank account
to the seller's Paypal account. Then, if the seller insists on waiting until
the funds clear from his/her Paypal account into their bank account, it
takes another four days. 8 days total.

I have used this many times, and it has always taken four days for the
funds to be transferred, i.e. marked "Completed" by Paypal.
drubin
3,240 posts
 
The direct withdrawal thing requires that you have a "personal" account. This means that both you as buyer and those who buy from you must use direct withdrawal or some other form of non-credit card payment. It's a great thing, but I finally abandoned it in favor of an upgraded account for some reason that seemed very good at the time. Now when someone sends me money, PayPal takes its cut.
tvad
9,467 posts
 
Yes, I should specify that I have a Premier Account (which does not have limits on payment amounts).

Still, the $5 eCheck is a reasonably inexpensive alternative to money orders and cashier's checks. The downside is the processing wait.
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