eBay.com.au - | paypal-myths |

Some people still think PayPal is only good for shopping on eBay.com.au, while others don't realise that PayPal works as a virtual wallet to save you carrying your bank account information, credit and debit cards. To separate PayPal and eBay.com.au fact from fiction, click on the links below to see how well you know us.

MYTH: You can only use PayPal to buy on eBay.com.au

Shopping internationally on other eBay sites is easy. PayPal is available in 190 markets and 23 currencies around the world, PayPal makes payments possible across different locations, currencies, and languages.
MYTH: Having a PayPal account is like having another bank account

It's better to think of PayPal as more of an online wallet - it stores your card or bank details so you don't have to carry them around. Whenever you use PayPal to buy on eBay, you're still using those cards, but via PayPal. PayPal safeguards your card or bank details for you, so you never expose your financial information online.

If someone sends you money or pays you for items sold on eBay, that money will appear in your PayPal account. You can then spend it, or transfer it into your bank account.

MYTH: There are no rewards for using PayPal

Whenever you pay for things on eBay with your credit card via PayPal, you should still receive any card rewards you'd usually get for using it, like frequent flyer points, rewards points and cashback (check with your credit card issuer)
MYTH: PayPal is expensive to sell with

There is a fee for sellers, but this is comparable to what you'd pay if you were to set up an online shop and get a bank to process credit and debit card payments. What's great is that there are no set up costs or monthly fees involved with PayPal and you may also get Seller Protection at no extra cost, to protect you against potential losses due to buyer claims.

Here are the standard fees for sellers receiving payments in Australia:

Monthly transaction volume

Price per transaction

AU $0.00 - $5,000 (base rate)

2.4% + AU $0.30

AU $5,000.01 - $15,000

2.0% + AU $0.30

AU $15,000.01 - $150,000

1.5% + AU $0.30

AU $150,000

1.1% + AU $0.30
MYTH: You have to pay a fee for using PayPal when buying on eBay

There is absolutely no fee for using PayPal when buying on eBay from a seller who is also from Australia. If you make a payment in a different currency, there's a small conversion fee. It's worth it when you think you can use PayPal on eBay all around the world and stay protected with Buyer Protection at no extra cost.

MYTH: There's no point linking my bank account to my PayPal account when I can use my debit card

Your debit card might get lost or stolen and will eventually expire, whereas your actual bank account won't. Linking your PayPal account and your bank account allows you to pay without needing to update your details every time your card expires or is replaced.
MYTH: You cannot transfer money from PayPal to your bank account

If you sell something on eBay it's really easy to transfer money from your PayPal account to your bank account. It usually takes between 3 to 5 days and it's free to do it, simply log in to your PayPal account and click on 'Withdraw'.
MYTH: You need money in your PayPal account before you can shop

You don't need to have money in your PayPal account in order to make a PayPal payment. You just need to have your bank account, credit or debit card details stored on your PayPal account. Whenever you want to pay, PayPal will debit the money from the funding source you have selected.

If you get paid for an item you sell on eBay, or if someone sends you money, the balance will appear in your PayPal account. This balance can then be used to fund other payments.

MYTH: I'm not really protected when I pay with PayPal on eBay

When you pay with PayPal on eBay, your purchase may be protected by PayPal Buyer Protection. This means that in the unlikely event that your item doesn't arrive or doesn't match the seller's description, you might be protected. As long as you can meet certain criteria.
MYTH: When you sign up to PayPal, you receive phishing emails
Fraudsters send millions of emails every day in the hope that someone will fall for them, but they usually send these emails at random to computer-generated addresses. PayPal will never give your information away. There are a few things you can do to protect yourself however.

The most important ones are:
- If you receive an email you think is fake, forward the email to spoof@paypal.com.au and delete the email.
- Protect yourself from fake websites with an up-to-date browser
- Make sure you don't inadvertently type your password on a phishing site with eBay's Toolbar: Download the Toolbar here
MYTH: It's not safe to store your card or bank details with PayPal

This couldn't be further from the truth. PayPal's main priority is protecting your financial details. We use the highest level of data encryption, industry leading technology and fraud prevention tools to see that we offer an advanced level of security to all our members. This is probably why PayPal has more than 220 million accounts worldwide.

MYTH: You can only use PayPal to buy on eBay.com.au

MYTH: Having a PayPal account is like having another bank account

MYTH: There are no rewards for using PayPal

MYTH: PayPal is expensive to sell with

MYTH: You have to pay a fee for using PayPal when buying on eBay

MYTH: There's no point linking my bank account to my PayPal account when I can use my debit card

MYTH: You cannot transfer money from PayPal to your bank account

MYTH: You need money in your PayPal account before you can shop

MYTH: I'm not really protected when I pay with PayPal on eBay

MYTH: When you sign up to PayPal, you receive phishing emails

MYTH: It's not safe to store your card or bank details with PayPal