Paypal?

[NES_Rules]

I'm thinking of starting to sell some of my stuff on eBay, but I'm not quite sure about the whole PayPal thing. I've never bought anything online before, and I don't know exactly what PayPal is. I went to there website, but never really got a clear description, so can somebody just give me a simple description of PayPal? From what I can tell, I think its like an account that you start with so much money and then when you buy something, money goes from your paypal to the seller's and then when you sell something, money goes from the buyer's into your paypal. Is that ever close to what it is?

[bangtango]

The short answer is that Paypal allows you to transfer money online from one party to another. It is meant to be used for people who want security in their online transactions. Of course, each time you actually receive money in your Paypal account, Paypal charges you a small fee for it.

Paypal is linked to your bank account (checking) and it allows you to transfer money you receive on the internet into your checking account. When you sign up, you'll need to give them some sort of account information.

As stupid as it may sound, you might want to look it up on www.wikipedia.org and that may give you an easy "stock" answer. Unless somebody else has a basic synopsis.

[jajaja]

This is Paypal's own description:


PayPal, owned by eBay, is a global online payment system. PayPal is a convenient, easy-to-use, and secure way for individuals and businesses to send and receive money online for goods, services, charitable donations, and so forth. It's also a full-service operation that provides front-end and back-end solutions to increase growth and revenue for merchants.

You can either hook your creditcard up to your Paypal account or you can transfer money directly from your bank accoun to your Paypal account if you dont have a creditcard.
It works something like this when u pay:

Your bank account -> creditcard -> Paypal -> other user's Paypal account.

The creditcard takes the money from your account, transfer it to your Paypal account and then automaticly to the user your payed. If you dont have a creditcard just remove the creditcard part.