Pay Pal Instant pay?

Johnnyt

Johnnyt

Burn all jump cues
Silver Member
I finally got straightend out with PayPal. I could have swore that some bets were paid off in minutes with it in TAR chatroom. Is there another way to set it up for that to happen? I gave my bank account, credit card# and have unlimited withdrawl. I tested it sending money to my wife and it looks like it's not going to be much faster than a check. Minus the mail time. Johnnyt
 
Has it already verified? You'll know when you see it withdraw and then deposit to your bank account.
 
Johnnyt said:
I finally got straightend out with PayPal. I could have swore that some bets were paid off in minutes with it in TAR chatroom. Is there another way to set it up for that to happen? I gave my bank account, credit card# and have unlimited withdrawl. I tested it sending money to my wife and it looks like it's not going to be much faster than a check. Minus the mail time. Johnnyt
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Unfortunately Johnny, once someone pays you, you must then withdraw it to your bank account. That will take 2-3 business days.

The money IS available to spend within paypal though.

Ray
 
Bigtruck said:
Unfortunately Johnny, once someone pays you, you must then withdraw it to your bank account. That will take 2-3 business days.

The money IS available to spend within paypal though.

Ray
Click to expand...

Thanks Ray, but I'm not worried about my end. I want it set up to pay-off the the winner instantly. Johnnyt
 
the money will be instantly in their possesion, in there paypal account.
When ever they wish to withdraw it, it will take a couple of business daes to go nto there account.
Just as if they deposited your check, only differnce is that they can see you have paid immediatly.
 
travisw said:
the money will be instantly in their possesion, in there paypal account.
When ever they wish to withdraw it, it will take a couple of business daes to go nto there account.
Just as if they deposited your check, only differnce is that they can see you have paid immediatly.
Click to expand...

OK, ty I get it now. Little low tech on banking here. I need to take lessons from Fatboy. I always dealed in cash. But cash is a bad word now. Johnnyt
 
Johnnyt said:
I finally got straightend out with PayPal. I could have swore that some bets were paid off in minutes with it in TAR chatroom. Is there another way to set it up for that to happen? I gave my bank account, credit card# and have unlimited withdrawl. I tested it sending money to my wife and it looks like it's not going to be much faster than a check. Minus the mail time. Johnnyt
Click to expand...

Not to mention the financial risk you are running by giving them this info. I post on "car guy" boards, have read some paypal horror stories.

I'm not you, but if I were, I'd be talking to somebody at my bank about a way to limit my exposure to online fraud...like maybe a special account with a $500 maximum balance. Since you've given them this info, make THAT Card and account the limited ones, and open up other accounts paypal has no info on.

You're right...I don't/won't use paypal!
 
pwd72s said:
Not to mention the financial risk you are running by giving them this info. I post on "car guy" boards, have read some paypal horror stories.

I'm not you, but if I were, I'd be talking to somebody at my bank about a way to limit my exposure to online fraud...like maybe a special account with a $500 maximum balance. Since you've given them this info, make THAT Card and account the limited ones, and open up other accounts paypal has no info on.

You're right...I don't/won't use paypal!
Click to expand...

You make good sense and so did the other poster that said the same thing. I will change it to an account just for bets on Paypal in the morning. While I don't try to keep a lot over a grand in the account I used, some times there is much more in it for a day or two when I hit big on the Greyhounds. Thanks for the heads up. Johnnyt
 
pwd72s said:
Not to mention the financial risk you are running by giving them this info. I post on "car guy" boards, have read some paypal horror stories.

I'm not you, but if I were, I'd be talking to somebody at my bank about a way to limit my exposure to online fraud...like maybe a special account with a $500 maximum balance. Since you've given them this info, make THAT Card and account the limited ones, and open up other accounts paypal has no info on.

You're right...I don't/won't use paypal!
Click to expand...

Good info pwd! I have never had any problems with paypal, in fact I really like it, but you make some good points and I will be calling my bank tomorrow to cover my a$$! ;)

Thanks,

Ray
 
Never hurts to CYA, guys. I once sold a collector car overseas. The buyer a longtime dear friend. I knew years in advance it was he I wanted to be the car's next caretaker. We're talking a sizeable amount here...well into 6 figures. Like I said, I trusted him...however, just to be safe from possible fraud by an overseas bank employee, I opened a seperate account at my bank, had the funds wired to that account. Once the funds were collected, the money was transferred to my regular account, and the account the funds were wired to was closed.

Any competent operations officer at your bank should be able to suggest security measures to you. Measures to limit your liability. It's up to you how much you wish to place at risk with paypal. Keep in mind, PAYPAL is NOT a bank, there is no federal insurance program with it. Paypal has very limited liability in the case of fraud.

Using paypal you are risking more than being stood up by an airballer...
 
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