X-Message-Number: 16223
Date: Mon, 07 May 2001 06:27:58 -0400
From: James Swayze <>
Subject: How PayPal works, a little more detail, and could work very well indeed
References: <>
CryoNet wrote:
> CryoNet - Mon 7 May 2001
>
> #16213: Re: CryoNet #16201 - #16212 [Kennita Watson]
>
>
> ----------------------------------------------------------------------
>
> Message #16213
> Date: Sun, 06 May 2001 03:06:31 +0000
> From: Kennita Watson <>
> Subject: Re: CryoNet #16201 - #16212
> References: <>
>
> Alan Mole wrote:
>
> > Paypal.com is set up mostly to facilitate payments when you've won an
> > online auction. You can send money to anyone just by giving PayPal your
> > credit card number and the amount. Thus you can pay for auctions you've
> > won, send money to family or friends, whatever. I think INC could set
> > up its recipient account in just a few minutes and then people could
> > contribute by credit card.
>
> PLEASE set this up if it's at all possible! I'd much rather do that
> than mail a check (though I will if I must)!
> --
For PayPal to benefit Ben Best's efforts to fund the completion of INC's
research everyone that wishes to donate money via PayPal must sign up for PayPal
themselves. PayPal allows it's members the ability to send money to anyone that
has an email address. Upon receiving notice from PayPal that someone has sent
them money they are urged to join PayPal themselves which involves submission of
bank routing information so PayPal can put the money
(free of charge) directly into their account. The following is from PayPal's
Help database:
How does PayPal work?
Once you sign up for PayPal, you can send money to anyone with an email address
and we will deduct the money from your PayPal balance or charge your credit
card. Recipients are notified by email that they have received a payment
I don't recall if the person sent notification that PayPal has a payment for
them can instruct PayPal to simply have a check cut and mailed to them. However,
it would help if INC or Ben Best acting legally in INC's behalf had a PayPal
account. Later in this message I'll explain a second benefit of INC or Ben on
their behalf having a PayPal account.
First a personal note that will help outline the second benefit I referred to
immediately above.
Recently I sent the following message to some friends and family members
regarding PayPal's referral reward program. I was going to send another message
much like the one below slightly modified for relevance to my cryo friends. I
also needed to first determine how non US folks could sign up and still have the
referral and new account bonuses apply.
___________________________________________________________________________________________________________
Dear Friends and Family,
I have a plan to improve my income which involves first gathering together a few
thousand in savings. I'm scraping up all I can from very nook and cranny.
Currently my yearly disability income is about half what the government
statisticians deem as poverty level ($6545.40). I have a way that you can help
me and not cost you one dime nor involve you in any business schemes of any kind
nor cost you more than just a few minutes of your time. In
fact you'll get $5.00 for the act of helping me.
All I am asking is that you use my referral link below to sign up for PayPal (R)
which is an online service primarily for sending and receiving money between
individuals online. One may even save money in a money market account through
PayPal (R) @ 3.75% interest. That's not very high interest but you need not
even use the service after signing up for it nor keep money in the money market
fund if you don't wish to. However, I use it and
like it very much. I can send money to anyone that has an email address. It
can come from my bank account or from a credit card or from the PayPal account
after that has accumulated some funds. The best part is it allows the ordinary
(non retailer) individual to accept payments from someone's credit card provided
they are also PayPal members. For instance one could have a garage sale and
suppose someone had credit but was short on cash.
In this case you could hold the item and arrange for them to pick the item up
after they paid your PayPal account with their credit card. I use it for trade
over Ebay, the online every-person's auction house, which is one part of my plan
to increase my income.
If you use my referral to sign up I'll receive a $5.00 "referral bonus" from
PayPal (R) and you will receive a $5.00 "new account bonus"! Every little bit
helps and soon, hopefully, I could have a tidy sum to invest and trade with and
it would have cost nobody a dime except for PayPal (R). In fact if you passed
along my referral link to your friends and explained my situation and my goal I
might get a very good head start indeed! I hope to
be able to in addition to trading things online also invest in the stock market.
Having a lot of free time to study it daily I should do reasonably well. I
feel the time is right to get into the market at it's current low ebb and it's
all up from here. I also wish to patent one or more of my ideas for inventions
and then find investors to help produce them. Patents cost a lot of money,
upwards of $13,000. I have a lot of investing to do
to get there. This has been my biggest obstacle where my invention ideas are
concerned.
Here is my referral link:
https://www.paypal.com/refer/pal=jbgswayze%40hotmail.com
---------------
How it works:
The following is straight from the PayPal (R) FAQ explaining the referral bonus
program.
What does my friend have to do? Your friend must complete the following for
both of you to earn the $5 bonus:
1.) Sign up for PayPal
2.) Confirm their email address
3.) Confirm a checking account
4.) Add $100 or more by electronic funds transfer into their (own) PayPal
account
5.) Sign up for a Money Market Fund Which of my friends are eligible?
All of your friends are eligible as long as they are not already PayPal users,
and someone else has not already received a bonus for referring them. To protect
our users' privacy, we will not notify you if your friend has already been
referred.
How can I ensure my friends' privacy?
We are committed to protecting our users' information. We will use the
transaction information only for the purpose of this program, and for the
processing of the payment to your friend.
When do I receive my $5 bonus?
You will receive your $5 bonus as soon as your friend completes the bonus
requirements above and earns the $5 new account bonus.
What if my friend signs up with a different email address than the one I used
for forwarding the PayPal referral email?
As long as your friend uses the link in your email to sign up, you will receive
your $5 referral bonus even if your friend signs up with a different email
address.
--------------
As I said you aren't required to use the service or keep any money in the
account. The money transferred for purpose of account verification during
signing up may be transferred right back to your bank account after sign up
confirmation is completed. There is no requirement to keep the money market
fund and no minimum balance although it might be a good excuse to save some mad
money. I hope you will see this as a hand up and not a hand
out--an investment in me, not charity. In fact a temporary hand out would do
more harm than good because of the disincentive imposing rules I am oppressed
under. It would result in my medical coverage being stopped until I was
impoverished again well before I was truly independent. So you can see it's in
my best interest to act upon my plan and not be passive. My hope is to succeed
well enough to break free of those oppressive rules. I
simply must break free and be able to support myself without the government's
help or interference. Through the PayPal (R) referral bonus program you can
help me take that first step without any personal cost to you except a few
minutes of your time. Lastly, if you do pass my PayPal (R) referral link on to
someone you feel would also happily help me in this way, if you would, please
add a note of your own about me so they don't wonder why
they received this request. Thanks for hearing me and here's that link again.
https://www.paypal.com/refer/pal=jbgswayze%40hotmail.com
___________________________________________________________________________________________________________
End of excerpted message:
I think you all here on cryonet can see that this scheme would get PayPal to
build up my account at no cost to the referred individual. Clever ain't I? ;)
Though I would love for my cryonet friends to use my link to join PayPal I
cannot, being an honest person, overlook how the scheme I devised for my own
benefit could instead benefit The Institute for Neural Cryobiology (INC). In
fact it could doubly benefit if people also donated their 'new account bonus'
they receive for simply signing up.
\\EXTREMELY IMPORTANT NOTE//
For this to work Ben Best acting for INC or INC itself need first to get signed
up for PayPal. Then they/he must go to the PayPal referral bonus page and get
the referral bonus link URL to send to cryonet for those here who wish to help
to use to sign up.
\\EXTREMELY IMPORTANT NOTE//
Anyone wishing to help INC via this scheme should not sign up prematurely
without the proper link so it gets credited to INC. Of course this is assuming
Ben or INC does get involved with PayPal.
For the record PayPal does not allow it's members to accept credit card payments
in the normal or direct sense. It does allow members to request money but which
an individual uses to fund payment through PayPal is up to the individual the
request is made to. How it would allow Ben on behalf of INC or INC itself to
accept credit card payments is by other members of PayPal using the system and
choosing to fund their PayPal account via credit
card. They could very well take funds directly from their bank account instead.
\\EXTREMELY IMPORTANT NOTE//
Please keep in mind the rules stated above from the PayPal FAQ. The referred
individual must go all the way and sign up also for the money market account by
transferring at least $100. It is not required that the money market account
stay funded but it might be prudent to keep a little in it until the bonuses
were paid. A friend of mine wishing to honor my request recently signed up but
did not go all the way. I don't know if the bonus will
still be forthcoming should he in future fulfill the entire requirements.
Regarding non US membership I found the following from a PayPal FAQ:
Is PayPal available for international use?
PayPal is now available internationally in 38 countries ('38 countries' was
linked to the following URL
http://www.paypal.com/cgi-bin/webscr?cmd=p/gen/approved_countries-outside). If
you have questions regarding our service, you can contact us via email at
At the URL immediately above the following information was available:
PayPal is now available in the following countries:
Anguilla Antigua Australia Austria Belgium Brazil Canada China Costa Rica
Curacao Denmark Dominica Dominican Republic Finland France Germany Greece
Grenada Hong Kong Iceland India Ireland Israel Italy Japan Luxembourg Mexico
Netherlands New Zealand Norway Portugal Singapore South Africa South Korea Spain
Sweden Switzerland United Kingdom
Here is the link to the International account registration page.
https://www.paypal.com/cgi-bin/webscr?cmd=_international-register
I can't find info on how, if signing up Internationally, to make sure the
referral bonus goes to the proper individual. I will email them tomorrow and see
if International accounts are included in the program and if so how to insure
the individual deserving the referral bonus gets credited.
One more thing must be noted. PayPal puts limits on how much members can send
and receive with basic accounts and such and so forth. The FAQ info is quite
lengthy so rather than paste it here is the link to the relevant FAQ:
http://www.paypal.com/cgi-bin/webscr?cmd=_help-ext&eloc=31&loc=28
Won't it be satisfying to get PayPal, a company not involved in cryonics, to
fund INC? ;) Imagine if 2000 individuals, cryonics enthusiasts and friends and
family of same that were still eligible so that the referral bonus would apply,
signed up and also donated their new account bonus. It would amount to $20,000
without it costing anyone one thin dime! If fewer then they could additionally
donate some of their own money. I'll do what I can as
soon as I know the email address that applies to INC that PayPal can send to.
James
--
Some of our views are spacious
some are merely space--RUSH
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