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Jane D. Apr 18, 2007

Hello-I'm am nearly in tears.I have been on the website for Pay Pal and I cannot understand what to do.I want to set up something simple in oder to perhaps (???)sell a bear and also buy a bear or 2 (or More!!!).From what I gather I need 2 accounts???If you sell a bear where does the money go?Do you use the same set of security questions for both accounts.Could anyone take pity on me and explain this simply-remember you are talking to a complete dummy here.I would just be a casual user not a high powered business woman. Thank you all.Does anyone else ever feel like this? Something new and I'm in a right tizzy!!!Sincerely Jane D.

edie Apr 18, 2007

Hi Jane, No you don't set up different accounts for buying and selling! When you have someone pay you by PayPal the money goes into your PayPal account and either stays there or you can transfer it to your bank account. If you leave it in your PayPal account then you can use that money to pay for items you buy. If you want to pay for something that is more than you have in PayPal funds then it will use what you have in the account and then take the rest from your credit card. You have a choice of either a personal account where you cannot take credit card payments or a business account where you can. I believe you can make credit card payments with either. Now that all said, being in Canada, I have both a US dollar account and a Canadian dollar account so payments in US dollars or for things in US dollars come from that and vice versa - however I didn't set that up, PayPal did about a year or so ago when they switched things so I am not positive if you have to indicate that somewhere or if they do it automatically. Is this clear as mud??? 

Aleta - The Silly Bear Apr 18, 2007

Jane, 
First.....you're not stupid.  Stupid, in my humble opinion, doesn't ask questions.  I was going to answer the same as Edie.  Although, I didn't realize that you may, indeed, need two accounts for the exchange.  In my US account, I have the option when purchasing or paying to signify if I'd like to pay with a different exchange.

Now, I'm afraid I'm being clear as mud.   

Warmest bear hugs,  :hug:
Aleta

Tammy Apr 18, 2007

Jane there are no stupid questions.  Really, questions help all of us learn.  Please don't feel stupid- you are not !!!

Hmm, I have one account and yes the funds were split  as US and Canadian depending on how I was paid.   However, you can manage your currency and convert the amounts to one currency if you want.  You also can choose what currency to pay with as Aleta mentioned. 

I found this all out the hard way the other day.  I have a paypal debit card and I tried to use it last week and it was denied.  Of course , my heart dropped as I paniced thinking someone had accessed my account and drained it !!  But, turns out the card only accesses my US funds and I had converted my entire balance to Canadian the day before- simply because I am Canadian adn wanted to know how much $CAN I had. 

It's like anything, once you know how to use it is seems so easy.  But, it is always intimidating getting started with anything new.