PayPal Question

[Tony Jacuzzi]

This may be a dumb question but is there any way that I can get scammed (ripped off) by a purchaser if I accept Paypal? I have an account etc. but have never really used it to receive $$'s. I thought that I had read some paypal horror stories on I-waters in the past. Any info would be great.. Thanks Tony J

 

[RIGGERMORTISE]

Tony

I have used paypal a lot and have had no problems at all. I always wait untill the money shows in my account before sending goods. I never send when the paypal confirmation is sent to me as this dosn't mean the cash is in your bank it is still in paypal. Also be aware of the cost when you withdraw money from your paypal acc to your personal account. I had one month when i lost over $80 in fees and charges :angry: . I am now very careful to watch the fees and pull money out in one go.

Hope this helps

Regards

Dave

 

[Don Ferrette]

Agreed, wait until you transfer to $$ into your personal account & out of Paypal. As for the fees they don't charge to transfer into my checking account. :huh:

 

[topfuel443]

I can go on all day about this, but Ill try to make it short....

I have used paypal for a number of years now, and I finally got scammed for 498.00 bucks about a month ago. THE ONLY WAY TO PROTECT YOURSELF IS TO MEET THE FOLLOWING CRITERIA!!!!

If you dont meet ALL of it, paypal will tell you to go screw yourself...Ask me how I know! I WILL NEVER USE PAYPAL AGAIN AS A SELLER.

this is there seller protection policy direct from there website::::

~James

PayPal helps protect sellers against chargebacks that are the result of fraud.

Although the vast majority of payments occur without incident, sellers must always be aware of the challenges posed by fraudulent buyers. While most payment companies simply pass on 100% of transaction liability to their sellers, PayPal offers unique protection by providing sellers with annual fraud protection coverage up to $5,000.00 USD.

When you follow the guidelines below you not only protect yourself from liability by helping to ensure that you are not dealing with a fraudulent buyer, you also become eligible for fraud protection under the Seller Protection Policy. Sellers who choose not to follow these guidelines take on risk and may be held liable for any chargebacks.

Transactions that are eligible for coverage under the Seller Protection Policy will say Seller Protection Policy Eligible on the Transaction Details page of a payment.

When a transaction is eligible for protection under the Seller Protection Policy, you must follow these guidelines to be protected against fraudulent chargebacks:

Have a Verified Business or Premier account

Ship to the address on the Transaction Details page

Ship in a timely manner

Retain reasonable proof of shipment that can be tracked

Require a signature receipt for valuable items

Ship tangible goods

Accept complete payments from a single PayPal account

Agree not to surcharge the buyer

Respond to all PayPal inquiries in a timely manner

Have a Verified Business or Premier account

Verified members have successfully completed PayPal's verification system to establish their identity with us. Verification is a positive signal to your buyer and to the PayPal community. PayPal encourages members to become Verified to increase the security of the PayPal network.

Ship to the address on the Transaction Details page

In the process of making a payment, buyers are prompted to enter a shipping address. You can find this address on the Transaction Details page along with whether or not the transaction is eligible for protection under the Seller Protection Policy. The Seller Protection Policy requires that you ship to the address shown on the Transaction Details page regardless of whether this address is the user's Confirmed Address or not.

When a transaction is ineligible for coverage under the Seller Protection Policy, however, we advise that you ship to the buyer's Confirmed Address whenever possible. Shipping to a buyer's Confirmed Address helps ensure that you are shipping to the person who set up the PayPal account. It is important to note, though, that users in some countries do not have the ability to confirm their addresses. In such cases, you may want to take special care when shipping packages by obtaining proof of shipping or tracking information.

Ship in a timely manner

You must ship items within 7 days of receiving payment.

Retain reasonable proof of shipment that can be tracked

Always retain proof that you honored the payment and shipped the item to the address on the Transaction Details page. If the transaction is disputed, you will be required to provide a copy of this shipment record showing that you shipped to the address found on the Transaction Details page.

Require a signature receipt for valuable items

For items with a value of $250.00 USD or more, you should provide a proof of receipt in the form of a signature from the recipient. This proves that the item was delivered to the buyer. Many carrier companies offer these proof of shipping services.

Ship tangible goods

Since proof of shipment is not available for intangible goods and services, the Seller Protection Policy does not cover digital goods and other intangible items delivered electronically.

Accept complete payments from a single PayPal account

You should not accept payment for a single item from multiple PayPal accounts. Acceptance of these payments will result in loss of protection under the Seller Protection Policy and is a violation of PayPal's User Agreement.

Agree not to surcharge the buyer

You may not charge the buyer a fee (often called a "surcharge") for accepting PayPal.

Respond to all PayPal inquiries in a timely manner

If a buyer files a complaint against your transaction, PayPal will contact you to learn more about the transaction. In order to be eligible for coverage under the Seller Protection Policy, you will be required to provide information within a specified timeframe (between 3 and 7 days depending on the type of transaction). We require that you respond in a timely manner to help us resolve disputes as promptly and fairly as possible.

Please review the Seller Protection Policy section of our User Agreement for complete details. For additional fraud prevention tips, read our Fraud Prevention Tips for Sellers.

A special note about shipping internationally: If you choose to ship internationally outside of the Seller Protection Policy, you do so at your own risk. Furthermore, shipping to a country not on the list of PayPal approved countries is a violation of our service and may result in termination of your account.

 

[topfuel443]

Agreed, wait until you transfer to $$ into your personal account & out of Paypal. As for the fees they don't charge to transfer into my checking account.  :huh:

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It does not matter if you put the money directly into your account, If they reverse the funds to the buyer, you are responsible for paying them back. Its all in the user agreement when you click "agree" while signing up. They have the right to seek repayment by any means nesscesary. Again, ask me how i know...

~James

 

[Foolwitools]

Hi!

Paypal is a good service to have. Many eBay sellers (including myself) preffer to do the deal via paypal.

I costs the person receiving money about 3% of the money sent. It costs nothing ( like Don said) to have money transfered from paypal to your checking account.

I recently made a post complaining that I received an eBay item (paid with Paypal)that was supposed to be "new" and it was "junk"..........and paypal didn't want to help, even though they advertise their " Buyer Protection" thing....... in that situation, eBay Square Trade got me a 50% refund.......anyhow,

NEVER!! answer e-mail claiming to be from Paypal asking you to verify your paypal account and other personal info..... even if the e-mail page looks like the background of the real paypal page........these are the scams.

Check your account at least once a week...........

I have a second checking account that I don't keep a lot of money in... that's the one I use for paypal, just in case.

4 years, almost 400 eBay transactions, several non e-bay deals............mostly done with Paypal. no problems yet.

Another two cents from a fool..............

Good Luck,

Bob the Fool :blink:

 

[Foolwitools]

Hi Again,

Riggermortise was talking about a fee to withdraw money from paypal.......

again, there is no fee to withdraw from paypal.

some banks charge a fee for any electronic transfer...... could this be the fee Rigger is talking about??

Bob the Fool :blink:

 

[boaterbill]

Hi Again,
Riggermortise was talking about a fee to withdraw money from paypal.......

again, there is no fee to withdraw from paypal.

some banks charge a fee for any electronic transfer...... could this be the fee Rigger is talking about??

Bob the Fool :blink:

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I just had a buyer pay me $1050 thu pay pal, pay pal charged me $30.75 to transfer the money into a checking account. I have used pay pal before also, never been charged to transfer into checking. From what I understand if the buyer uses a creditcard thru pay pal, then the charge will occur.

You see sellers asking buyers to add pay pal fee, I have told a couple of them, they can't do that. One quit, but started it on another board. Oh well, better informend seems to be the trick. Hindsight works GREAT. I got lucky and buyer refunded the fee, which of course he did not have to. You find a lot of people that are pleasure to do buss. with, along with bunch of flakes.

Later,

Bill

 

[topfuel443]

Im not trying to scare anyone away from using paypal, because it is a great service to use when everything goes the way it should. However, when it goes bad, it goes bad. If you havent been screwed through paypal, it can and probably will happen, just be aware. here is a good sight to see some of the horror stories about payapl...

www.paypalsucks.com

~James

 

[MarkScott]

I believe that the charge you are getting from the transfer is not really the transfer fee.. If you accept CC Paypal payments, you are being charged by the CC company to use THEIR service, not Paypal. I could be wrong, but I do believe that is the case. On our sales in fleebay, we accept paypal, but not a CC due to this charge.. We stated it in large bold letters. Buyers still try to use it though. A few gents here that received my Nats vid attempted to send via a CC. Sorry, won't do.

In the few years of using paypal, I've yet had any problems. Guess I've been lucky so far..

Mark...

 

[tracerbob]

When I sell, I take only money orders. When I buy, I use Paypal. I don't like the 3% Paypal charges the seller to use their service. <_<

 

[Don Ferrette]

When I sell, I take only money orders.  When I buy, I use Paypal.  I don't like the 3% Paypal charges the seller to use their service. <_<

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Not that I like it either but they have to make money somewhere, Paypal isn't a charity, it's a business.

 

[RIGGERMORTISE]

fees and charges for me are the cost incurred to transfer from US$ to Ausie dollars it is easy to loose out when

the xchange rates vary so mutch. Now i keep all transactions small except purchases and i monitor it carefully.

the key is to keep it small.

good luck

Dave

 

[Mike Hughes]

If you are going to accept credit cards as a seller than you are required to have a premier account. With a premier account they charge you a 3% fee for a selling transaction. They do not charge you if you transfer money to your bank account. They do limit how much you can transfer per month. The business account fees are lower the higher your volume of business is in a month.

Mike

 

[Pennywizz6]

I have used paypal through over 30 transactions, so far it has worked great. PayPal has a good fraud department and they will get your money back if something shall go wrong.

Phil B)