Receiving payments via Paypal
 

I have a friend who is going to send me a couple bucks for something. Thought it might be easiest to use Paypal (we both have accounts), but I've never RECEIVED money via Paypal.

What happens if this person just "emails" me the funds (as I have done sending TO people including paying for MA in the past)? Does it just automatically go into my designated bank account?

You will have to log in to PayPal and transfer the funds into your bank account yourself. It takes about 3 days.

Also - PayPal takes out a fee on received funds - I think it's 5%.

PayPal is easy.. if you have a personal account.

You'd give people the email address attached to the account and they'd log into their account and use your email address to tell PayPal who to send money to.

So, if I send money to you I'd go to "send funds" and then use "kevybaby@lot.swank" and enter how much I want to send. Hit submit and then confirm and poof. Done.

To get your money you'd go to "withdraw funds" and withdraw how you want (I normally withdraw into my checking account. It's free).

The two big important things are this:

1) you need to make sure you have a personal account or you'll have fees taken out.

2) you need to make sure all senders select "goods, other" or there will be fees taken out.*

If you're paying for goods, either physical or virtual, or chipping in fundage for something then goods, other is legit.

I didn't know receiving funds was free with personal accounts. That's cool.