Is paypal 100% safe??????
 

Sold my Wellcraft on Ebay, problem is, the guy is in Netherlands. I want him to pay by paypal even thogh I will have to pay the fees. Question is, once the funds are in my paypal, and I transfer them to my savings/checking account, am I 100% safe, or can something still bounce???

Thanks for your input.

Rick

Re: Is paypal 100% safe??????
 

Read up on pay-pal's policy I think they stated something about this but I can't remember exactly what it said. I have never had a problem with them. I think that once Pay-Pal gets approval then the funds will go into your account. (pay-pal account) then you can do a transfer from there or let it draw interest.

Roby

Re: Is paypal 100% safe??????
 

wait he is in the Netherlands? Have you spoken to this buyer on the phone ? :rolleyes:

Re: Is paypal 100% safe??????
 

No, Why???

I did check their feedback, and they have 100% feedback, including buying a car, and some small items, (girls stuff :rolleyes: ), other than that, stuff was 6 months out, and I couldnt see what it was. The person seems sincere, with the questions they asked, about how usable the trailer was, cabin pics, etc. Thing that sucks is, there were 3 other people wanting to "Buy it Now", and they were in the US, but they waited too long, someone met the minimum bid, and I guess this person panicked, and hit the "buy it Now", so I am stuck dealing with this, wondering if it will be any good?? I would think once paypal clears it, and allows me to transfer out of paypal account, and into My parsonal accounts, it should be good to go??

Re: Is paypal 100% safe??????
 

How much is shipping to get it there ?

Re: Is paypal 100% safe??????
 

Hi-Perf 2000 on here was looking at a ducati motorcycle over there to buy on e-bay turned out to be a scam

Re: Is paypal 100% safe??????
 

Just watch out if he wants to send you a check for too much money and then have you send him (or his friend) the change.

The original check will take a month to bounce and your check to his friend for "the change" will be cashed.

Re: Is paypal 100% safe??????
 

That's exactly what's been happening and I heard it's Ron's brother doing it.


No but serious he is right. That has happened before from time to time

Re: Is paypal 100% safe??????
 

Watch out. I had a guy who stiffed me for over $3000. on ebay and I used PayPal. After he didn't send the items, I filed with Pay Pal and my bank. I got my money back but it took 3 months, the guy closed his account and some how PP retrieved the cash back. Be very careful with these guys from over seas, they use good account to sell or buy high $$ goods. Those fools who answer the email that says ebay wants you to verify info so you account isn't closed, they hijack it, use other's account and you get screwed.

Re: Is paypal 100% safe??????
 

Forget the check, thats not happenin' if he wants to send a check, the boat gets sold to the next bidder, I already have his info. I believe I can do this, and not get hit by ebay, because the ad said it only shipped to USA, but this guy hit the Buy it Now, and killed it. All I want to know is, once he deposits the $$$, and I move it out of paypal, can he get it back??? I will wait a while to ship the boat, and I am not falling for the "oops I sent too much, please send the difference back" deal.

Re: Is paypal 100% safe??????
 

Rick, if the money ends up in your PAYPAL account, transfered there from the buyer, it is backed by either his CC or his personal banking accounts and either way I'd say your 100% safe at the point the money hits your account.

But just to be safe, wait for that PAYPAL money to be transferred over to your personal financial institution. That takes @3-4 days and at that point it has to be 'clear'. They will have already deducted their (robbery) fees and you'll just need to request a transfer. There are no PAYPAL fees associated with 'transfers' to your accounts. Requesting a check might cost you, not sure, I just transfer to my personal accounts and I have never had a problem.

Only risk I see is him possibly claiming he never received 'item' and filing a claim with PAYPAL to recover his money. That would be highly unlikely in the case of a boat transaction and transfer as there will be piles of paper work and records that document the completed deal and shipping .... So, probably ain't gonna happen.

Chris in Vegas is talking about sending someone funds using PAYPAL ... always a much bigger risk being the buyer than the seller IMO. I've had nothing but 100% positiive experiences using PAYPAL (except the fees :mad: )

BTW, wasn't this guy a member on here asking question aout KAAMA drives ... I remember reading a thread? Sounded like a legit dude if that was the same guy I'm thinking of .....

Re: Is paypal 100% safe??????
 

Maybe I'm an idiot...but I'm wondering why a bank check wouldn't work better for you. A secured check written out by a bank. He pays them, they send you a check. If he has a "real" checking account, most if not all banks will do that and take the money immediately out of his account so they are assured the funds are good. I think all banks will do this, but there's probably some exception out there that I don't know about.

Re: Is paypal 100% safe??????
 

Wire the funds!!!!!

Re: Is paypal 100% safe??????
 

Or use a legit escrow service....that you select.

Re: Is paypal 100% safe??????
 

Think about it: what's a guy in the Netherlands gonna do with your Wellcraft? I always wondered who fell for these things. And regarding Pay Pal, its convenient, but NOTHING'S 100%

Re: Is paypal 100% safe??????
 

Don't send the boat until the bank check clears either. I have heard of scams where criminals even setup fake banks, complete with telephone numbers, and people answering calls as if they are bank employees when you call to confirm it is the bank's check.

Michael

Re: Is paypal 100% safe??????
 

PayPal cannot take the money out of you bank account.
But what can happen is. If you do sell more items on ebay, accept paypal, and then he wants to get his $ back that is where you will get hit. PayPal will hold your money until the matter is resolved. (I am not sure how long they can hold it for though.)

Re: Is paypal 100% safe??????
 

The safest thing to do is open a checking account at a different bank and ask for a wire transfer. Wire transfers cannot be reversed and the money is there immediately.

Also figure out how you want payment in full. Use this account to also accept the final payment. If for some reason he backs out at least then you can just give him cash or a cashiers check at the bank. Once the transtion is completed close the account.

Re: Is paypal 100% safe??????
 

Ditto

Re: Is paypal 100% safe??????
 

Who knows.... maybe use it on their 5046 KM's of intercoastal waterways, or their 451 Kms of coastline ....... :D

Re: Is paypal 100% safe??????
 

If he is over seas, it is 99.9% SCAM!

Do NOT trust anything.

Cashiers checks can be forged, I have one for $3500.00 that is fake!

Do some searching on the net, I bet you can find some info about the deal.

Nothing is 100% safe!!!!!!!!!!!!!!!!!!!

Paypal had some really big scams, people sending out email to verify account info, now these people have 100's of real account info, they can pay with someone elses account, ask you for their money back with a sob story, you fall for that, then the real guy with the pay pal account catches it, Paypal can't make the real guy pay for it, he probably don't have that kind of money, now you lose all the way around.

Run while you can!!!!!!!

Re: Is paypal 100% safe??????
 

Like njgr8ful said, i think it is much riskier for the buyer to use paypal but nothing is 100% for the seller either. I'd probably opt for a wire transfer just to be safe but if he insists on using paypal tell him you'll need to hold the boat for a couple of months to make sure the funds clear.

Re: Is paypal 100% safe??????
 

Hey Rick,
Paypal sucks! I got screwed by Paypal & had fight & threaten the buyer. I got paid :D Paypal still froze my account due the other guy trying to scam the system. Long story short , they got their commision $352-00, I had fight to get my money through other channels. If you get paid by Paypal, withdraw the funds from your Paypal account, ie cash out. Then redeposit the cash into another account. Do not do anything electronic! The banks/Paypal will reverse anything electronic they want! Drop us line if I can help.
John
PS: http://www.paypalwarning.com/
Also much has been said about Paypal here on OSO

Re: Is paypal 100% safe??????
 

I don't know other peoples problems with them but i can tell you from my personal experience that I had money taken out three different times and my password was also changed those three times I had to close my account and they have never made my money good or given me any type of answer as to were my money went this was to the tune of $1500 this is not bullsh*t they just prolonged the problem and never gave me an answer I will never do business with them again Laz Mesa

Re: Is paypal 100% safe??????
 

Rick,
Just remember that the Banks / Paypal are a law unto themselves. If they suspect anything suspicious/ fraudulent they will cover their asses. There is no such thing they "can't" withdraw funds as previously mentioned earlier. The word "can't" does not exist...should read.."should not". I experienced the the withdrawl of funds 1st hand!

Re: Is paypal 100% safe??????
 

I am an ebay platinum powerseller and can tell you that paypal does not offer seller protection on international transactions. Once you ship out of the 48 states all bets are off. Paypal is great for ups shipped transactions within the 48 states that can be shipped to a confirmed address with signature required delivery. Without that, you are kissing your money goodbye.

I would not suggest doing any international deal without prepayment of certified funds. Even a wire transfer can be cancelled and reversed. Get you certified, wait five business days for clearing, and then only after verification begin shipping process slowly.

There are enough good buyers in the US to not need the risk of an international deal.

Re: Is paypal 100% safe??????
 

No, It's not safe at all. At anytime they can freeze any of your funds is the buyer disputes the purchase. They are not FDIC insured. See WWW.PAYPALWARNING.COM

Re: Is paypal 100% safe??????
 

Rick I use Paypal everyday local transactions only and it is safe, however, overseas wire transfer only.

Re: Is paypal 100% safe??????
 

I also used it every day as well, That dosen't make it safe. I lost $2100. I sold a 2 GPS systems to someone in California. 51 days after he received them he wanted to return both of them but he already mounted and used them and no longer had the boxes. (nothing was wrong with them, he said they were too sophisticated for him) . I told him I wouldn't take them back, I can't do anything with them. They are now used goods. He disputed the credit card he used to make the Pay Pal payment and they immediatly took that amount out of Pay Pal account and they charged another $10 for the reversal.. When you sign up for Pay Pal you agree to let them do this. I contacted Pay Pal and they said they will look into the matter it can take up to 120 days. That was 6 monthes ago. I got nothing, not even an email.