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How safe is it to use PayPay to receive payment on a relatively large ticket item? I'm selling a tandem axle trailer on eBay and a potential bidder wanted to know if he could send the payment via PayPal. We're talking about $1600 here. What do you think? Accept Paypal or no? Bob Carpe Scrotum | ||
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Striker in waiting |
Sure, but don't link PP to an account you keep money in and don't ship the item until you've moved the money safely away from PP. -Rob I predict that there will be many suggestions and statements about the law made here, and some of them will be spectacularly wrong. - jhe888 A=A | |||
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| Just for the hell of it  |
This. I link paypal to an account I don't use much anymore. I keep the minimum in the so the bank doesn't charge me any fees. _____________________________________ Because in the end, you won’t remember the time you spent working in the office or mowing your lawn. Climb that goddamn mountain. Jack Kerouac | |||
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| Just because you can, doesn't mean you should |
When you list an item on eBay, you normally accept payment through Paypal. What payment options did you specify when you put it on eBay? Since it's a trailer he would have to pick it up in person, wouldn't he? ___________________________ Avoid buying ChiCom/CCP products whenever possible. | |||
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Nullus Anxietas |
PayPal... *sigh* I like it, but, I hear they tend to side with buyers in disputes, so be careful. I'm going to be selling stuff, soon, and I'll probably accept PayPal as a payment option, but, only with trepidation. "America is at that awkward stage. It's too late to work within the system,,,, but too early to shoot the bastards." -- Claire Wolfe "If we let things terrify us, life will not be worth living." -- Seneca the Younger, Roman Stoic philosopher | |||
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| You can't go home again  |
I don't have a problem with PayPal and I've used them as a seller and buyer many times over. If there is any sort of issue though, I would be worried that you will be out your $1,600. I would not trust them with that much of your money for an internet sale. If I were the buyer no issue but as the seller, no thanks. Plus you have to consider the fee PayPal will charge you for a transaction of that size. It will not be insignificant. What I would do is take a deposit online through PP, maybe $400 and then tell him you want the rest cash when he takes the trailer. --------------------------------------- Life Member NRA “If you realize that all things change, there is nothing you will try to hold on to. If you are not afraid of dying, there is nothing you cannot achieve." - Lao Tzu | |||
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Only the strong survive |
So where is the buyer located? A postal money order protects both the buyer and seller so that is what I would use. 41 | |||
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non ducor, duco |
I've sold a few motorcycles on ebay using paypal for transfer. The highest amount being 7500 dollars. I tell the buyer once the funds transfer from paypal to my bank they can arrange for pickup. I have never had any issue. First In Last Out | |||
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Member |
I've taken that one step further. The account PayPal is linked to is the only account I have at that bank and I clean it out with my ATM card to the minimum whenever I get a payment. There is a way to make your linked credit card virtually  untouchable, too.Harshest Dream, Reality | |||
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My dog crosses the line |
I wouldn't. PayPal can go into any linked account and take the money back if a dispute is filed by the buyer. With PayPal its guilty until proven innocent. PP is always biased in favor of the buyer. | |||
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semi-reformed sailor |
Dude has got to come get the axle right? Tell him to bring a postal money order or cash. "Violence, naked force, has settled more issues in history than has any other factor.” Robert A. Heinlein “You may beat me, but you will never win.” sigmonkey-2020 “A single round of buckshot to the torso almost always results in an immediate change of behavior.” Chris Baker | |||
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| Just because you can, doesn't mean you should |
PayPal deposit with cash on pickup is the best option. You need to state that when you create the listing under terms and conditions, not after a purchase. ___________________________ Avoid buying ChiCom/CCP products whenever possible. | |||
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| Lawyers, Guns and Money  |
This. Of course if your ad says otherwise, it's a different story. What does your ad say? Do you currently have it running? Do you have a bidder yet? I think you can change the ad until you have a bidder, at which time it's locked. "Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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| Member |
Thanks for all the great advise. I think I'll stick with cash or a USPS money order. I think I also need to update my Paypal account to change the link. Bob Carpe Scrotum | |||
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Member |
SPECULATION: The whole reason the guy wants to use PP is to put it on a credit card he has linked to his PP account. He probably doesn't have the cash. SOLUTION: Just take his PP and transfer the money to your bank account. Risk the consequences of honesty... | |||
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| Laugh or Die |
I get paid exclusively via paypal. I have a second bank account just to link to my paypal account specifically because of paypal's absolute garbage reputation. I keep a 200$ balance in that account, and a 200$ balance in my PP account at all times. I immediately remove all money from paypal as soon as I get paid every month, then transfer it to my primary account the instant it clears into my bank. They have and WILL pull money directly from your account if you don't have a "buffer" account. ________________________________________________ | |||
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