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HelicopterOff Topics › Paypal question
12-16-2003 11:16 PM  13 years agoPost 1
heliraptor

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Colchester, Essex, UK

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Hi

Does anyone know.

If funds are paid into your paypal account, are these taken as cleared and secured funds i.e. they cannot be requested back.

Just had a sale on a heli, guy has paid, just wondering if its okay to post it.

I'm in the process of withdrawing the funds to my bank account.

Thanks

Lee

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12-17-2003 12:57 AM  13 years agoPost 2
sixeven

rrApprentice

Ft. Myers Florida

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Read the fine print...

I recently had a similar high value sale and was going to use Paypal. I was looking at their fine print and discovered a major problem which I subsequently confirmed with a phone call to their customer service.

The problem is this...

If the buyer disputes the sale (i.e. says he didn't get shipment, the item is not as described, he didn't give permission for his credit card to be charged...whatever) Paypal will not investigate. They will simply refund his money to him. You're Paypal account will then be charged the full amount of the sale. If the money is still in there....then Bye Bye cash. If you have emptied the account...then Paypal sends you a bill.

The scary thing is, if the guy buying your copter was an a$$hole...he could pay you....wait until he got the package and then dispute the sale. Paypal would then send his money back to him. It wouldn't matter what proof of sale you would have because Paypal does no investigation of any kind. He could essentially get your copter for free and you would be S.O.L. And yes....according to Paypal customer service, it does happen.

Maybe i'm paranoid but i've been burned one too many times on Ebay and the like.

SiXeVeN

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12-17-2003 01:16 AM  13 years agoPost 3
Saint728

rrProfessor

Honolulu, Hawaii

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Remember when sending something to always send it registered so the person receiving it can't say they didn't get it, because they have to sign for it when it's delivered.

Take Care,
Cheers, Patrick

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12-17-2003 02:42 AM  13 years agoPost 4
greenboot

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Marblehead, OH

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Sixeven,
Thanks for the shocking story. I don't doubt that you are correct.

I believe these problems of non-payment and fraud have always been a part of business. And if you are going to shop, you need to deal with it. You can pay a little extra at a reputable store, buy insurance, or just take your lumps; but you can't eliminate the cost of crooks.

Tom

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12-17-2003 07:00 PM  13 years agoPost 5
midwestpilot

rrElite Veteran

Crystal Lake, IL

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off of Paypal web site...

quoted off of the web site...

"PayPal helps to protect our sellers against chargebacks due to fraud.

Although the vast majority of payments occur without problems, there is always the risk that you are dealing with a fraudulent buyer. While most payment companies simply pass on 100% of the transaction liability to the seller, PayPal provides unique protection to sellers.

PayPal's Seller Protection Policy gives you the opportunity to protect yourself from liability when you follow the below guidelines to reduce your risk of dealing with a fraudulent buyer. Sellers who decide not to follow these guidelines take on risk and may be held liable for any chargebacks.

Note: At this time, the Seller Protection Policy is only available for U.S. or Canadian sellers transacting with U.S. buyers, and for U.K. sellers transacting with U.K. or U.S. buyers. Eligible transactions will be displayed as Seller Protection Policy Eligible on the Transaction Details page of a payment. "

Sounds like...if you follow the rules they have for selling you are protected. And the rules are not hard to follow....track packages and such.

So avoid the hype...and visit paypal and see for your self.

In life there is no spacebar!

Rich Erikson AMA 6175

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