Question for people who sell gold: Do you leave the money in paypal, or do you transfer it to your bank account? If I was to want to transfer the money to my bank account, would I be able to with little/no problem (in the US)
Yes what I do is, have them send the money to my paypal. Then when the money is there I have it sent to my bank account usually right away. If you use a trusted company then you shouldn't worry about recalls, but if youa re dealing with private buyer's make sure you have them send the money as a gift that way they cannot get it back.
Ok, That is very good news. I'm just paranoid about getting asked questions to how a couple thousand dollars went from paypal to my bank account and such.
Thousands?!?!?! I do $30 at a time. (10k gold). But no you shouldn't be questioned but there is always a risk of getting banned.
It's important you check with the Inland Revenue (or US equivalent) about declaring tax on earnings. In the UK you can earn a little over ?6,000 before declaring it for taxation -- You could land yourself in some trouble if you try and avoid it. I withdraw from PayPal when I hit ?1,000 -- It's probably not a good idea to stockpile in PayPal as I've heard some nasty stories on-line about peoples PayPal accounts being locked indefinitely for no reason at all. I had my own account temporarily locked while they investigated it for money laundering -.-
Well I withdraw it right as I get it from paypal so I am not to worried. Since I am only getting $30-50 per week I think I will be fine.
