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View Full Version : ckecking account and paypal...

03-31-2006, 06:34 PM
I have sold a little on ebay and would like to do more. K-State put on a class yesterday on selling on ebay and I attended. One of the main tings that they talked about was having a seperate checking account with a very low balance linked to your paypal account. They said that just incase it gets hacked it is better that it not be your everyday account.

How many of you do it this way? I am going to. I plan to open a seperate account next week.

Just wanted your thoughts,


04-06-2006, 10:43 PM
I have a personal account and a business account @ my bank. I link the business account to my paypal account. When my auctions end, I move the money from paypal to my business acct. My bank will always call me if any unauthorized withdrawals are requested.

I also recommend to my students that they need to do the same. Many are uncomfortable with linking their personal accounts to paypal. I personally feel it is safe and secure but need to separate my personal acct from my business account so that's the main reason I do it.

04-07-2006, 06:44 AM
That is good advice and something I recommend in my workshops.

You can use a new personal account (they may have no-fee accounts
available for personal but not business) and if you intend to expand
give it a business name. Apply for a Visa check/debit card to accompany
that account. Even if you do expand it will be wise to set up a new
business account and use this one as a clearing account to process your
eBay fees and orders.

I recommend about $250-$500 in it to start with.


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