PayPal question

767Jockey · #1 (**permalink**) 01-14-2008, 04:22 PM

Guys,
I've paid lots of times using PayPal, but this is the first time I'll be using it to collect some money for parts I've sold. I guess the question is how do I protect myself? How do these guys beat you on this? I sold some items to a guy in Australia, and he wants them shipped to a business address in California that's owned by friends and he'll have them shipped from there. Once I withdraw the money he puts into my account am I safe? Is there a period I should wait? What's the best and easiest way to get the money from my paypal account into my bank account?

Also, is there any benefit or detriment to opening up a premier account vs. a personal account? Any primer someone can give me on this is appreciated. Thanks.

Rick Parker · #2 (**permalink**) 01-14-2008, 04:29 PM

The safest idea is to use an account dedicated exclusively for this purpose. Or you can request PAY PAL send their check when they receive payment.

550FLYER · #3 (**permalink**) 01-14-2008, 04:29 PM

Once the money is in your Paypal account, you should be OK. Don't get caught up in the overpayment/refund the difference scam. I've always had Paypal send me a check. Usually have it in a few days. They can wire it directly to an account, but never liked that idea.

RedSabre · #4 (**permalink**) 01-14-2008, 05:10 PM

I've sold a number of items using Paypal to collect the money and after they state it is in my Paypal account, I have them direct deposit the funds into my bank account. Once I have the money confirmed there, I ship the goods and make sure there is a means of tracking/insuring the shipped products so no one can come back on me stating they did not get it. Have not had any problems with this method. I have the standard account they offer.

Mike

mike55 · #5 (**permalink**) 01-15-2008, 09:56 AM

I've done almost 1000 paypal transactions and never had any problems getting the money out of my account. Once the money's in your account, it's yours (there's a difference between Instant Payment and an eCheck as well). I use the direct bank transfer method - easy and safe. Like any other financial company, Paypal has access to some of your financial info whether you like it or not. I believe you automatically get the Paypal/MC debit card as well. You can go to any ATM and withdraw funds directly from your PP account. With the premiere account, I think the withdrawal limit is $400 per day.

As always, it's best to avoid disputes by disclosing everything about the item upfront and having the buyer acknowledge it. Paypal offers some seller protection when you ship to the verifed address as well.

As far as selling to someone in Australia, I've done similar transactions without problems. I ship to a US address and then the buyer arranges for shipment to AUS.

Mike

Trueoo7 · #6 (**permalink**) 01-15-2008, 01:05 PM

Be very careful with the eCheck. Sold some Cobra parts right here on this forum and the person paid by eCheck into my paypal account. Because I was not "verified" they would not release the money to me, instead they sent it back to the sender and I never got my money even though the person promised to pay me. To be verified they wanted to know more info than I was willing to give them.

flwolfman · #7 (**permalink**) 01-15-2008, 02:11 PM

I have also sold thousands of dollars of stuff on Ebay. Always have it direct deposit into my bank account. When they pay by echeck, I have to wait for paypal to clear prior to my shipping. I have never had a problem doing that. Be upfront and describe your items very well. I have a premier account. Hope this helps.