How do I get paid, make money, etc?

[janissaire]

Ok, I understand the whole e-commerce thing, people come online shop, buy and leave but here’s what I don’t get – maybe I’m just stupid or something but I’m getting a huge disconnect and maybe others are too which is why I’m writing…..

1. I’ve decided to go with Paypal – Which version should I use? What are the pros/cons of them? Website Payments Standard vs. Website Payments Pro.

2. How do I get paid – this is where the disconnect comes and this is the way I understand how it works:

A. You have your site connected to your payment gateway – in this case Paypal.
B. Customer buys a product using their Visa Card – using Paypal to process.
C. Paypal processes the payment for you – sends you the info and the payment less their fees.
D. You send the customer the product.

With regard to C – how do you get the money from Paypal – do you set it up so that money comes into your bank account or can you set up an account with them and then transfer money back and forth to that account at Paypal as needed?

My big concern is the bank accounts – I don’t know if I can just use a personal account for my business – or whether or not I will be able to generate (at least for the short-term) business to justify the banking fees on a small business account – the bank fees on these types of accounts are huge – or at least in Toronto – fees for deposits, fees for withdrawals, no interest to speak of, etc, etc.

If I use a personal will it say, Paypal Deposit, Paypal Deposit, Paypal Deposit? Pretty obvious over time that you are using the account for a business and then you will have the account either shut down or switched to a business account and start paying the fees associated with it.

Or

If I create a business account at Paypal, would the money sit there until I take it out or does the money come directly into your bank Account as the orders come in?

Has anyone faced this same type of scenario? Suggestions?

[barco57]

The money sits in the paypal account until you request some amount of it to be transferred to your bank account. This process takes up to three days for the deposit to show itself in your bank account.

[DrByte]

Related FAQ: "How do I get paid?" https://www.zen-cart.com/tutorials/i...hp?article=285

[janissaire]

thanks!

[tophand]

You can also get a Paypal debit card good at most ATMs.
You can withdraw your money from any ATM.

M