(Topic ID: 75825)

PAYPAL...any risk to seller?

By Cheeks

10 years ago


Topic Heartbeat

Topic Stats

  • 81 posts
  • 44 Pinsiders participating
  • Latest reply 10 years ago by Doozie
  • Topic is favorited by 3 Pinsiders

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    There are 81 posts in this topic. You are on page 2 of 2.
    #51 10 years ago

    Right. I would obviously hope that would never happen to myself or anyone else... That would require having to deal with PayPal customer service again!

    #52 10 years ago

    PayPal is risky on a high dollar item in my opinion.

    You can do all you want, not linking bank accounts or credit cards, and not maintaining a balance in PP, etc, but they can and will send a collection agency after you if something gets reversed.

    Even if a claim is decided for the seller, it is not unusual for a sour grapes buyer to contact mastercard, visa, their bank, etc and have the transaction reversed. Then, the bank takes the $$ from PayPal, and PayPal comes after you. They will find you if there is money on the line.

    It's understandable that a buyer doesn't want to just cross their fingers and send a large sum of money to someone without some sort of protection for themselves. That's why cash in person is the best choice, assuming you know the seller or know and trust their reputation.

    A reputation takes forever to establish, and only one bad transaction to destroy.

    #53 10 years ago
    Quoted from jalpert:

    Yes he can. If he gifts the money and pays with a credit card he would still be able to dispute the charge with the credit card company. Who knows where it goes from there.

    I believe gifts can only be sent from debit card/bank account.

    #54 10 years ago

    Even if the buyer wires you the money, you can still get scammed.

    1. You give the buyer all the bank account info, believing they will "wire" the money to you. Let's say $5000.

    2. What they actually do is rather than wire any money, they mail overnight a fake check to your bank for $5000.

    3. Your bank gets the fake check, and of course deposits it into your account in the morning.

    4. When you call the bank or check your balance online, you see that you have $5000 "deposited" into your account.

    5. Since you believe the money was wired, you have no problem sending the buyer his game.

    6. About 3-4 weeks later the bank determines the check is counterfeit and deducts the $5000 and a $40 bounce check fee.

    7. You call the bank in protest and learn that no money was ever wired to your account. Just a "normal" check deposited.

    #55 10 years ago
    Quoted from Incognito:

    I believe gifts can only be sent from debit card/bank account.

    Not true. You can send them from a credit card, but you pay the fees.

    Even still, you can dispute a debit card transaction pretty easily. Just call your bank!

    #56 10 years ago
    Quoted from johnwartjr:

    Then, the bank takes the $$ from PayPal, and PayPal comes after you. They will find you if there is money on the line.

    Yes, but I will make them spend much more than the $900 to get it back....

    #57 10 years ago

    Paypal does not sue you, that is too expensive.

    They turn the debt over to a collection agency and ruin your credit rating.

    #58 10 years ago

    I got scammed (~$600). It took PayPal about a year of fighting before they gave up. I was threatened with collections, canceled accounts with them and fought hard. I insisted they take me to court. If the scammer would have sent me a box of rocks or something I would have lost. The only saving grace is the scammer never sent anything back to me at all. Paypal argued that was not their problem, I said yes it is. I explained give me the tracking number that shows he sent it back but they could not produce one. My new rule is cash only. If I would sell something with paypal, it would have to be something I was ok with just giving away.

    #59 10 years ago
    Quoted from vid1900:

    They turn the debt over to a collection agency and ruin your credit rating.

    Phew, lucky I have a house, a few cars and don't buy much on credit....

    #60 10 years ago

    I've said it before, and I'll say it again. If you are doing a long distance transaction, the safest way to get the money is to have to other person deposit the cash directly into your account. I'm not talking about a wire transfer. I'm talking about them walking into a local branch of your bank and physically handing them a stack of money.

    #61 10 years ago
    Quoted from cougtv:

    The only saving grace is the scammer never sent anything back to me at all. Paypal argued that was not their problem, I said yes it is.

    Yeah, that's the one thing....he DID send it back. I told him it was No Returns and I didn't care if he sent it back or burned it in the street...he owns it....

    #62 10 years ago
    Quoted from gweempose:

    the safest way to get the money is to have to other person deposit the cash directly into your account.

    I've also had more than a few transactions where I received cash overnighted with FedEx. Never a problem...so far!

    #63 10 years ago
    Quoted from Cheeks:

    So if I sell a game ($5K+) and the buyer takes the game, they can go back to PayPal and what? Say the game sucks and get their money back? If I have removed the money from my PayPal account, PayPal sends me a bill and the guy keeps the game?

    Pretty much.. which is why sellers despised when Ebay forced Paypal on everyone. Doesn't matter where the money sits - Paypal will hit your bank account to take it back without your approval. People would have their balances in paypal frozen, etc. Basically 'buyer protection' with paypal can be overbearing and all too often sellers get screwed.

    Stay away from paypal - use an escrow service instead.

    #64 10 years ago
    Quoted from Toasterdog:

    There have been a few people screwed I'm sure, but it's mostly it's unfounded rumors. I just think it's hilarious all these sellers that think a buyer should have absolutely NO protection buying a pin sight unseen.

    No one believes the buyer should have no protection - but that's simply a strawman argument to support your belief.. and the 'unfounded rumors' tat really doesn't do anything for your credibility. It shows a complete lack of experience with the system and exposure to those who do this for their living.

    #65 10 years ago

    Incognito said:

    I believe gifts can only be sent from debit card/bank account.

    Quoted from johnwartjr:

    Not true. You can send them from a credit card, but you pay the fees.
    Even still, you can dispute a debit card transaction pretty easily. Just call your bank!

    You can also send a gift at any time from your existing Paypal balance.

    #66 10 years ago

    What some people are complaining about are Chargebacks and they aren't unique to Paypal. Any credit processor will do it. A customer can dispute a charge and that money gets locked up for 90 - 180 days until the dispute is settle. The customer can dispute the charge and offer no evidence. You will eventually get your money, but not until the the window expires.

    I had this happen to me on a $250 charge (non pinball related business). The buyer said she didn't remember charging that money and she thought it was fraud. I had a mound of evidence proving I had performed the service, including an apology letter from the buyer and it still took almost 5 months to get my money. It could have been any credit card processor.

    I'm sure there will be a big class action lawsuit over credit card processors shady business practices over chargebacks and bunch of us will get a check for $15.00 in the mail ten years from now.

    Basically, you take a risk when it's anything but cash. (Maybe gold is best....)

    #67 10 years ago

    Paypal is at the mercy of the card issuer. Paypal is simply a middle man. The card issuer is the one who is funding the purchase. Not paypal.

    #68 10 years ago

    Read the user agreement and you'll be surprised. Paypal requires that you show that you as the Seller have actually shipped the item you were paid for. This can be an issue if someone is using Paypal for Cash and Carry. If you ship said item and the buyer file a dispute then that's another issue!! Paypal will hit your account for the balance due once they see the item was returned, i.e. shipping proof. Be very careful with Paypal!

    #69 10 years ago

    As I always say from years of dealing with ebay/paypal, sellers need to be super careful as there is no protection for them. I've seen accounts frozen for months because of suspected fraudulent activity, which could be something like a $4000 transaction when usually you have $100 ones. Disputes opened for any variety of reason, not as described, etc. paypal is never on the seller side. If you withdraw the funds from the account and a chargeback/dispute is settled in favor of the buyer, Paypal will take you to collections.

    If something seems off I think it is better safe than sorry.

    #70 10 years ago
    Quoted from Philk:

    If you withdraw the funds from the account and a chargeback/dispute is settled in favor of the buyer, Paypal will take you to collections.

    Correct! I've seen it.

    #71 10 years ago

    Forget PayPal on large transactions, cash, escrow or direct transfer. Here in Canada we can use Interact e-transfer (from their bank direct to your bank, no account number needed (just an email and your bank(s) supported) as it is done through them), not sure if you have this option in the US or something similar.

    Any checks would also require a hold until they clear.

    It is a sad world we live in when you have to use these measures - different if you know the person.

    #72 10 years ago

    Well, good news, a fellow Pinsider may be picking this game up tomorrow. And...I'm reasonably confident he's not a scammer.

    Thanks to everyone for the reality check on PayPal. I really appreciate all the insights.

    #73 10 years ago

    If it doesn't feel right, it's not right.

    Sounds like you found a better buyer anyway.

    #74 10 years ago

    Glws

    1 week later
    #75 10 years ago

    Bumping this because I think this is the new way thieves try and scam people. Got this email this morning

    "Hello Seller,

    I want to buy this item,and need to know how much are you asking for it? and please i can only pay using paypal,and after payments has been made i will arrange for pick up of the item"

    Funny thing is, in the email subject line, it said Stern $5800 (I am selling my ACDC Premium, put it on craigslist)

    #76 10 years ago
    Quoted from cscmtp:

    Bumping this because I think this is the new way thieves try and scam people. Got this email this morning
    "Hello Seller,
    I want to buy this item,and need to know how much are you asking for it? and please i can only pay using paypal,and after payments has been made i will arrange for pick up of the item"

    So they will pay will paypal, come and get the pin, then dispute it and get a refund?

    #77 10 years ago
    Quoted from cscmtp:

    Bumping this because I think this is the new way thieves try and scam people. Got this email this morning
    "Hello Seller,
    I want to buy this item,and need to know how much are you asking for it? and please i can only pay using paypal,and after payments has been made i will arrange for pick up of the item"

    Of course it's a scam. There is no logic to it. Why on Earth would they only be able to pay you with PayPal if they are picking up the pin in person?

    I just sold an iPad the other day, and I was worried when the guy told me it would take a few days to pay me because there was a mix up with PayPal, and he didn't have access to his account. A few days later, he paid me. It sounded scammy to me, but I think it was legit. The guy now has the iPad and left me positive feedback, so hopefully I'm good to go.

    #78 10 years ago

    This is crap, everyone is saying don't do this it's a scam? What about the buyer? He gets the pins and it's a paperweight? Who protects him?

    If you tell him you have to wait 1 month after taking funds before you ship, you are 100% covered. The seller can't dispute after a month! If he want the machine he will wait. I have used paypal hundreds of times on both ends, I even sold firearms through it. It's a great tool!

    #79 10 years ago
    Quoted from Tseamans:

    If you tell him you have to wait 1 month after taking funds before you ship, you are 100% covered.

    Not true at all.

    #80 10 years ago

    For items this valuable I'll take PayPal (gift) from people I know (Sometimes it's just more convenient if that's where your money is).

    Everyone else....cash on the table.

    #81 10 years ago

    Hey Cheeks I got into this thread late but I had a pin advertised locally and got a text from a guy out east wanting me to sign up to paypal and how easy it was. It was a scam as I could check his phone number.

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