posted on December 12, 2007 09:45:54 PM new
If you receive a paypal payment & then transfer it to your checking account can paypal stop the transfer while it's in progress.
This might clarify the question:
Someone I know who sells rare coins on eBay & never leaves money in his paypal account asked me if it's safe to mail the coin before the transfered money actually shows up in your checking account or should you wait until it does.
Now here's another question that I would like to know. Is DC enough to prove that a package was mailed if the recipient says they never received it. If no then what else do you need for proof of mailing so paypal will not take the money back from your account.
posted on December 12, 2007 09:58:54 PM new
"Is DC enough to prove that a package was mailed if the recipient says they never received it. If no then what else do you need for proof of mailing so paypal will not take the money back from your account."
Yes, DC is enough, as long as it shows delivery. A scan on acceptance is not the same thing as a scan on delivery.
If the item is worth more than $250, Signature Confirmation is required.
posted on December 13, 2007 08:34:45 AM new
If you receive a paypal payment & then transfer it to your checking account can paypal stop the transfer while it's in progress.
Yes.
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There is a case posted here where a seller deposited a check and it cleared,but the buyer went to his bank and complained someone else forged the check and his bank managed to get the fund back for him.
Wiretransfer (not ACH),Western Union and cash are the only ways you can be sure $$ is safe.
As for DC showing it has been delivered,if the buyer used a credit card thru Paypal,he could go to his credit card issuer and file a dispute.
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Lets all stop whining !
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posted on December 13, 2007 08:38:35 AM new
Your friend should read Paypal terms and agreement,I believe a seller is expected to ship within 7 days after payment is received.
A few years ago ,a seller came here to complain,she sold an item and received 3k payment from her buyer through Paypal and her dropshipper did not ship promptly and the buyer filed complaint with Paypal and won.
The buyer ended up getting his 3k back plus the item which arrived late.
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posted on December 13, 2007 09:14:16 AM new"If you receive a paypal payment & then transfer it to your checking account can paypal stop the transfer while it's in progress..."
NO...
Next question:
Is DC enough to prove that a package was mailed if the recipient says they never received it. If no then what else do you need for proof of mailing so paypal will not take the money back from your account."
A loaded question!
USPS delivery confirmation has been accepted by PayPal (for items valued UNDER $250) as PROOF OF DELIVERY in order to satisfy the requirements of the SELLERS PROTECTION POLICY...
This has been confirmed HERE by PayPal Damon (remember him?) and also via phone conversations I've had with PayPal...
So, the short answer: if you are able to provide DC as PROOF OF DELIVERY (and you meet all the OTHER requirements of the SPP), then PP should rule in your FAVOR...
Is this all GUARANTEED?
No! Because the FEDERAL LAW that covers Credit Card Transactions (but NOT DEBIT CARDS or so-called "Check" Cards -- different law) is VERY VERY pro-consumer to the point that merchants have very few real protections against fradulent charge-backs...
EVERYBODY WHO ACCEPTS CREDIT CARDS (whether via a MERCHANT ACCOUNT or through PAYPAL) RUNS A "RISK" OF LOSING BOTH THE ITEM & MOOLA...
This really has NOTHING to do with PayPal!
One must determine one's own RISK TOLERANCE before deciding to accept CREDIT CARDS!
posted on December 13, 2007 09:23:09 AM new
Tom,
It has happened to me twice while the fund was still in transit , someone filed a complaint for item not as described ,Paypal cancelled the transfer.
As for DC as proof of delivery,Paypal will honor its seller protection policy if it is a small amount,dont bet on it if it is more.
How many times have we read Ebay sellers coming to this board and cited an email from Paypal-your buyer so and so has filed a dispute with his credit card issuer,so we are debiting your account for the sum of xyz .
Sometimes after Paypal ruled in your favor.
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Lets all stop whining !
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posted on December 13, 2007 09:25:15 AM new
Jane,
rare coins ,antqiues and precious jewelry are sticky,your friend may want to ask for wiretransfer and offer to pay for the fee.
But then the buyer would not get any protection if the coin turns out to be 'not as described'.
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Lets all stop whining !
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posted on December 13, 2007 09:37:39 AM new
I am always nervous anytime someone uses PayPal to pay for an expensive item. Not because I am trying to cheat them. It's more like I fear them cheating me. It's just such a shame that there are people out there looking for people they can cheat.
posted on December 13, 2007 10:58:03 AM new"It has happened to me twice while the fund was still in transit , someone filed a complaint for item not as described ,Paypal cancelled the transfer."
Sorry, but HOW??
My bank transfers ALWAYS show in my bank after TWO DAYS! That's not even enough time for the item to arrive, much less complain about anything
The second part you describe is exactly what I said:
If you sell a $1000 item, and a buyer does a credit card charge-back, you MAY lose all...
posted on December 13, 2007 12:02:30 PM new
You just answered your own question-it takes 2 days to complete the transfer.
There is a faster way ,I learned that from Yahoo tech,it is to use your bank card instead.
Instead of registering your bank account number,register your bank ATM card or debit card.
You can also use your credit card .
There is also something else people dont realise,-to the outside world i.e. all the commercial banks ,Paypal is one big account,we are just subdidiary accounts on Paypal books .
When we ask Paypal to transfer fund from our banks to our Paypal account,the fund first goes to Paypal's bank account and then Paypal will figure who gets what.
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posted on December 13, 2007 12:39:54 PM new
Thanks all for the info & suggestions, I'll pass them on.
It looks like if you transfer the money out of PayPal right away your still vulnerable.
Wow, is nothing safe anymore.
I would like to say the coins have all been sent to one of those places that grade them & then seal them in a plastic case, not sure what you call it, but it assures the buyer that he's getting what he is paying for. This is the reason the sell very well. Guess you could say they are authenticated by some coin society or something. So the buyer has no worries.
Most go for under 500.00 & occasionally one will go for over 1000.00 Sounds like wire transfer would be the best way to ship.
Do I remember PayPal Damon, sure do, nice guy took a lot of guff from a lot of people. No wonder one day he just decided quit.
At one time he was giving away T shirts if you sent your name & address, I did & he sent me one. Not a bad shirt, but it had a big circle on the back looked like a target.
I gave it to my son, but was never comfortable about him wearing it!
"childrens do learn"