stupid paypal question

[robr]

Hopefully I will have this figured out shortly, but here's the deal. I added my corporate card to my personal paypal account so I could buy eBay goods for work without having to pay for them myself and file for reimbursement.

The problem is my PayPal account has money in it and I can't seem to find a way to use the corporate card to pay for my transaction when I have money in the account. The only options I get are eCheck and PayPal balance.

WTF am I missing here.....

 

[KGP]

You're not missing anything. Paypal uses credit cards to back-up or gaurantee payment from checking accounts. An ACH check debit transaction costs them pennies, no matter the amount. If they had to aqcuire the funds from your credit card they would have to pay a dicsount rate in the area of 2% of the transaction amount. IOW, it would be eating into thier profit.

For example, let's say they transact 1 million dollars a day from 20,000 transactions. If they aqcuired all the funds from credit cards, it would cost them something like $25,000. By ACH transfer it costs them around $600 + however many credit cards have to actually be used because an ACH payment was rejected (NSF, whatever).

 

[robr]

Argh, their own documents say you can fund payment via credit card even with a balance in the account. Sounds like I might need to transfer the balance out first (which is sitting there collecting over 5%) .

 

[KGP]

I'm not sure what they are referrinf to when they say that you can fund your account by credit card. It could be that the meaning is that your account is istantly funded because a credit card is acting as a gaurantee funding source, where if they waited for the ACH debit it would take a few days.

 

[robr]

Once I transferred all my money out of paypal, it then allowed me to pay the seller using my corporate card. Fine, their loss, less money on deposit with them now.