Paypal Question

[splat200 0]

I have someone that wants to buy my rig,
but they want to use Paypal.
Their reason being, they do not have to pay out-right for it, they can just make payments to Paypal.

My question, is this safe ?
If they used a stole credit card to create the account,
or missed some of their payments,
can Paypal then bill my account ?

I often see on Ebay auctions where the seller states that he/she will not accept any Paypal accounts funded by a credit card.

Thanks for any help,
Splat !

[kelpdiver 2]

the sellers don't want CC funded Paypal payments because the costs are higher, and I believe above a $500 threshold you have to have a different account type.

May just be the 3% type charge that merchants deal with in taking credit cards.

I didn't think the buyer could slowly pay Paypal though, but haven't used it in a while.

[vpozzoli 0]

  Quote

I have someone that wants to buy my rig,
but they want to use Paypal.
Their reason being, they do not have to pay out-right for it, they can just make payments to Paypal.

My question, is this safe ?
If they used a stole credit card to create the account,
or missed some of their payments,
can Paypal then bill my account ?

I often see on Ebay auctions where the seller states that he/she will not accept any Paypal accounts funded by a credit card.

Thanks for any help,
Splat !

Using a stolen credit card to fund a PayPal account should be technically impossible. There is a verification process that involves your CC being charged a small amount (couple of dollars I believe). The description of the charge will contain a random code you need to actually activate the card. Since it should be impossible to have access to the credit card statements for a stolen CC (unless the issuing agency is being really stupid) you could never get them to charge to it.
I am not aware of PayPal offering delayed payment schemes, but I too haven't used it for a while.
Ciao.

Vale

[Stiner 0]

I've used paypal a good bit in the past and feel totally safe using it. As was previsouly mentioned, some sellers will not accept it or atleast CC payments from it because of the additional costs. I don't think you can make payments to paypal, but maybe the person wants to pay with thier CC and make payments to that.

I, personally, wouldn't have any reservations using it for selling a rig. I, actually, prefer to use it because it's much faster (waiting on mail, going to the bank, etc). However, I would factor in the additional costs (I believe it is around 3%) to your sale price.

[FrogNog 1]

  Quote

There is a verification process that involves your CC being charged a small amount (couple of dollars I believe).

I believe there are "verified" and "non-verified" PayPal accounts. (This is how I thought it used to work; I may have always been wrong, or it may have changed.) And I also believe it is possible for someone to have an unverified paypal account backed by a stolen credit card. This may or may not be easier in other countries. (This is the reason a lot of eBay sellers will only sell to the U.S. and Canada.)

I would base my decision on my trust of the buyer. If you don't trust the buyer, don't go with a payment method you also don't know about. That being said, other payment methods are not foolproof (I've seen checques that take the bank 3 weeks to realize are fake, and fake cashier's checques that also weren't discovered as fake until they physically reached the supposed source bank).

-=-=-=-=-
Pull.

[masterrig 1]

  Quote

I've used paypal a good bit in the past and feel totally safe using it. As was previsouly mentioned, some sellers will not accept it or atleast CC payments from it because of the additional costs. I don't think you can make payments to paypal, but maybe the person wants to pay with thier CC and make payments to that.

I, personally, wouldn't have any reservations using it for selling a rig. I, actually, prefer to use it because it's much faster (waiting on mail, going to the bank, etc). However, I would factor in the additional costs (I believe it is around 3%) to your sale price.

___________________________________

The 3% charge, would be charged to the buyer, not the seller?


Chuck

[labrys 0]

  Quote

The 3% charge, would be charged to the buyer, not the seller

The fee is charged to the account that receives the funds if it's a business or premier account. There is no fee for sending or receiving funds with a standard personal account.

Owned by Remi #?

[DrewEckhardt 0]

  Quote

  Quote

The 3% charge, would be charged to the buyer, not the seller

The fee is charged to the account that receives the funds if it's a business or premier account. There is no fee for sending or receiving funds with a standard personal account.

There's a $500/month receiving limit for personal accounts. You'll need a business or premier account if you plan on selling the rig for more than that.

[DrewEckhardt 0]

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My question, is this safe ?

Be sure to use a shipping method with a tracking number. If you don't the buyer can claim non-receipt after which paypal can freeze the funds.

[Superman32 0]

The buyer probably doesn't have the money to pay for the rig, so he's going to do what most of America does -- put on plastic.

Inveniam Viam aut Faciam
I'm back biatches!

[kelpdiver 2]

  Quote

The buyer probably doesn't have the money to pay for the rig, so he's going to do what most of America does -- put on plastic.

not a bad idea when you can use a teaser rate - rental rates can get pretty nasty. You pay for half a new rig in 100 jumps. Of course, only works if you apply that $20/jump to the bill.

[splat200 0]

Thanks everyone !
Phil.