Whats the deal with this payment thing on Mylot.com
By Blogger101
@Blogger101 (139)
United States
July 18, 2010 3:15pm CST
So I am 16 1/2 and got thise account to make some pocket cash. I have a differnt name on my account here on my information than on my papal. The reason is you have to be 18 to get a paypal accoount, so I am using my moms account. So, is this ok with Mylot? Will Mylot send the money to my moms paypal account when I reach payout? thx. And can someone tell me whats the age limit to get earnings.....I think its ok since im 16 1/2 but can someone pls tell me. thx.
1 response
@Elixiress (3878)
•
18 Jul 10
It will be fine to send your earnings to your Mam's paypal account. The only reason your Paypal would have to match up with your registration details is if you were taking money out of the paypal account and that is not possible with MyLot.
It is the same principles at banks, they have a lot more security procedures in place when it comes to withdrawing money, but any Tom, Richard or Harry could put money into your account.
@Blogger101 (139)
• United States
18 Jul 10
What do you mean taking money out of the paypal account? I can't withdraw my funds from mylot or what? what are you saying? I thought to get paid fully you have to withdraw the money from the paypal account to your bank or something.
@Elixiress (3878)
•
19 Jul 10
What do you mean taking money out of the paypal account?
I mean making a purchase, you can use paypal in the same way as you use your bank account, it can both receive and send payments.
I can't withdraw my funds from mylot or what?
You can withdraw your mylot earnings and any other earnings you may receive in your paypal account, however I would advice you to look up what the free withdrawal limit is in your currency. In pound sterling it is £50 and anything less than that, paypal take a percent of your earnings so I do not withdraw until I have made £50.
What are you saying?
I was saying that your account name on here does not have to match the account name on your paypal because you are only using paypal to receive payments, not to make them.
I thought to get paid fully you have to withdraw the money from the paypal account to your bank or something.
You are fully paid once your earnings reach your paypal, whether you withdraw them from your paypal and put them in your bank account is completely up to you. But as I said earlier, you should watch out for Paypal taking a percent of your earnings if you try and withdraw too little because then you won't receive your full mylot earning in your bank.
