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Q for experienced Paypal users

Discussion in 'Bad Dog Cafe' started by charlie chitlin, Jan 17, 2014.

  1. charlie chitlin

    charlie chitlin Doctor of Teleocity Silver Supporter

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    Is there any way a Paypal payment could turn out to be bogus and get yanked?
    I know this can happen with bad checks even if they clear after a couple weeks.
    There's a guy from overseas who wants to buy a guitar, and I'm wary.
    AFAIK, when the money hits the Paypal account it's real and it's mine.
    Any reason to think otherwise?
     
  2. J-man

    J-man Doctor of Teleocity Ad Free Member

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    Paypal can freeze funds if there's a dispute over a transaction, suspected fraud, etc, but once an amount has been transferred to your Paypal account, I don't think anyone but Paypal and/or you can touch it.
     
  3. Brad Pittiful

    Brad Pittiful Doctor of Teleocity Ad Free Member

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    here are some numbers i have for paypal...they are from 2005 so they may not work...but if you really want an answer call the source

    PayPal 402-935-7733 (or 2050) Say "agent."
    See also.
    Paypal Buyer Credit 866-571-3012 Be silent and at the end of the options
    press 6.
     
  4. telleutelleme

    telleutelleme Telefied Silver Supporter

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  5. flyingbanana

    flyingbanana Poster Extraordinaire

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    As soon as the money hits your Paypal account, withdraw it immediately to your bank. Then the money is yours. But honestly...if you feel unsure about the deal, just cancel out now and wait for a buyer state side. It's not worth it.
     
  6. charlie chitlin

    charlie chitlin Doctor of Teleocity Silver Supporter

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    Come to think of it...I think I'll go with electronic funds transfer if it comes down to it.
    Thanks, y'all.
     
  7. christhee68

    christhee68 Friend of Leo's

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    Do you mean you're going to give some stranger in a foreign land all of your bank info instead of having him go through a third party like PayPal?:confused:
     
  8. charlie chitlin

    charlie chitlin Doctor of Teleocity Silver Supporter

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    You do it every time you write a check.
     
  9. J-man

    J-man Doctor of Teleocity Ad Free Member

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    Which is a big part of the reason why cheques suck and have been almost completely phased out here.

    Paypal is more secure.
     
  10. soulman969

    soulman969 Telefied Ad Free Member

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    AFAIK the funds in a PayPal account are either there because the account has a balance from a previous transaction or because there were funds transferred in from a bank account or other cash based source like a debit card.

    Somebody correct me if I'm wrong but PayPal wouldn't be able to complete a transaction if they had no confirmed the transfer of the funds. If there are no funds transferred that transaction can't be completed and the seller doesn't ship. Seems pretty straightforward to me.

    It's an EFT transaction between PayPal and the buyers source so there isn't anyway I can see for it to be fraudulent. No confirmation of funds from the transferring party no payment and no transaction. I can hand someone a bogus check but I can't transfer funds that don't exist to PayPal.
     
  11. KokoTele

    KokoTele Doctor of Teleocity Vendor Member

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    A couple of years ago I had a potential buyer in Europe who wanted to wire funds. I balked, but called the bank and they assured me that simply giving someone the account number did not create a security risk. I was later told that this is a common practice in some parts of Europe.

    Back to the original post... if the buyer disputes the transaction, Paypal can withdraw the funds from your bank account (and has) to refund the buyer if your Paypal balance isn't sufficient.
     
  12. Shiro

    Shiro Tele-Meister

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    If he pays with an E-check, They advise you don't ship item until said check clears. At that point funds are available. If you got an "Instant payment" Funds are in place and good to go.
     
  13. bingy

    bingy Friend of Leo's

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    In my experience international transactions usually have some sort of hassle for the seller.
    More than a few buyers make demands, ask favors, complain about postal tariffs and delivery charges in their country.
    I attempted to satisfy buyers who, in the end, were, dis-satisfactory for me.
    See the money in your bank account before you ship and cross your fingers.
    I hate to generalize but, we have ended up dealing only in the 48 contiguous states.
     
  14. BryMelvin

    BryMelvin Friend of Leo's

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    Shipping guitars overseas can be a problem particularly if it's your brand.
    You need to comply with all the Lacey act stuff,certs of origin of all the wood etc etc.

    I don't even sell to Mexico 6 miles away for that reason.
     
  15. Lunchie

    Lunchie Poster Extraordinaire

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    +1

    However, depending on how long you have used Paypal and your track record they could hold the funds for up to 21 days. If you have a good long history with Paypal, then the money would be available for immediate withdraw.

    After my last real bad Paypal/Ebay experience, I signed up for their debit card. So now I can go withdraw the money at any ATM and not have to worry about transferring it to my personal checking if I get a bad feeling about something. You do have to pay the ATM fee's but if you got a big sale, its worth the few bucks. I imagine that if the transaction is still pending when a claim is filed they could cancel it.
     
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