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Risks using Paypal?

Ravage · 2006-09-05 19:42:51

I am selling something on ebay right now and it's currently going for €600. Which is way more than I was expecting, which makes me think it's a little dodgy. If the bidder wins and transfers the money via paypal what risks are there? If I transfer the money out of my account before I send the goods then send the goods once…

05-09-2006 7:42pm

#1

Ravage

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I am selling something on ebay right now and it's currently going for €600. Which is way more than I was expecting, which makes me think it's a little dodgy.

If the bidder wins and transfers the money via paypal what risks are there?

If I transfer the money out of my account before I send the goods then send the goods once the money is in my account am I safe? Or will paypal just charge the ammount back to my account?

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#2 05-09-2006 8:04pm

joebhoy1916

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Is something dodgy with the item your selling?

If not nothing really to worry about.

There's no risk I dont think.

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#3 05-09-2006 8:11pm

Ravage

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I'm worried that they will file an unauthorised transaction or some other scam with a credit card and cause the money to be revoked after I send the item out.

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#4 05-09-2006 8:20pm

Ruu_Old

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Read up on Paypal seller protection. If its paid with unauthorized funds, then they will be revoked as buyers have be protected as well.

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#5 05-09-2006 8:30pm

Ravage

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i had a read of the sellers protection, but they don't offer this for Ireland, only USA, Canada and UK.

Kinda pain in the ass.

I know buyers have protection, but what stops them from creating an account and scamming a seller?

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#6 05-09-2006 8:33pm

Ruu_Old

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It works both ways I guess. I personally wouldn't sell anything of that value on eBay as I don't know enough about selling. It is a big risk selling if you are not protected.

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#7 05-09-2006 8:34pm

Ravage

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Exactly.... maybe I will pull the auction.......

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#8 05-09-2006 8:53pm

ircoha

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Ravage wrote:

I am selling something on ebay right now and it's currently going for €600. Which is way more than I was expecting, which makes me think it's a little dodgy.

If the bidder wins and transfers the money via paypal what risks are there?

If I transfer the money out of my account before I send the goods then send the goods once the money is in my account am I safe? Or will paypal just charge the ammount back to my account?

How will u get the money out of your account? I did not think in Ireland u could to a bank account?

Forgive me if this is stupid i only buy::o

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#9 05-09-2006 9:05pm

joebhoy1916

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You can transfer money from your payapl account to bank account.

And it's free if you send 100Euro or more if it's under I think it cost's a Euro or something.

Go to my account on payapl and look at withdraw.

Take's about a week or so for the money to go into your Bank account.

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#10 05-09-2006 9:07pm

ircoha

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joebhoy1916 wrote:

You can transfer money from your payapl account to BOI account.

And it's free if you send 100Euro or more if it's under I think it cost's a Euro or something.

Thats new, ave u a link?

okay found it

From the link

Add a Bank Account in Ireland Secure Transaction

The safety and security of your bank account information is protected by PayPal. We protect against unauthorized withdrawals from your bank account to your PayPal account.

Thats all u need as it suggests they can make authorised withdrawals:(

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#11 05-09-2006 9:19pm

joebhoy1916

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ircoha wrote:

The safety and security of your bank account information is protected by PayPal. We protect against unauthorized withdrawals from your bank account to your PayPal account.

Thats all u need as it suggests they can make authorised withdrawals:(

You cant transfer money from your bank to paypal.

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#12 05-09-2006 9:29pm

ircoha

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joebhoy1916 wrote:

You cant transfer money from your bank to paypal.

I know, but why the note by Paypal that I have highlighted in red?

It seems to me the only way to protect yourself is to have a CC with a very low limit and a bank account with no overdraft limit.

As a a seller, on receipt of the funds, just take them out pronto, so as if they want to reverse there is nothing there.

They have up to 8 business days to transfer the money from ur PayPal account.

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#13 05-09-2006 9:52pm

colm-ccfc84

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been using paypal for over a year with no problems. does anyone know if you can transfer money from paypal to a aib account?

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#14 05-09-2006 9:58pm

Ruu_Old

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Yes you should be able to do so with an AIB account. Use the Withdrawal tab in your Paypal account and setup your bank accout from there.

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#15 05-09-2006 10:00pm

colm-ccfc84

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Ruu wrote:

Yes you should be able to do so with an AIB account. Use the Withdrawal tab in your Paypal account and setup your bank accout from there.

thanks mate

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#16 06-09-2006 7:48pm

Sully

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PayPal IS ebay. In a way. Its owned by the same crowd. PayPal offer better protection for users selling / buying stuff of eBay then they do for general transfers.

Iv been using PayPal for buying stuff but also used it to receive money (always less then 200euro) from clients. Never had many problems. The odd one when I bought a good I wasnt happy with, or in one incident I bought a second hand license for Invision Power Board (similar to vBulletin) which was revoked when the company when they found out it was first bought using stolen credit cards. PayPal are pretty good at giving money back and if you can prove you delivered the item (with a tracking number, so register the post!) to the user -- they cant really do much.

PayPal also have an Irish support number which I found of use too.

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#17 07-09-2006 4:30am

Our man in Havana

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If you feel the buyer is going to pull a fast one, simply withdraw all the cash pronto to your bank account. That way there is nothing for paypal to snatch back from you.

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#18 09-09-2006 1:12pm

c4cat

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see www.paypalsucks.com if you are a paypal user

Bond-007 wrote:

If you feel the buyer is going to pull a fast one, simply withdraw all the cash pronto to your bank account. That way there is nothing for paypal to snatch back from you.

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#19 09-09-2006 1:31pm

i71jskz5xu42pb

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Ravage wrote:

If I transfer the money out of my account before I send the goods then send the goods once the money is in my account am I safe? Or will paypal just charge the ammount back to my account?

Well PayPal are know to hold money so be sure to do the above and have the money in your bank account before shipping. More here:

http://www.boards.ie/vbulletin/showthread.php?t=2054980374

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#20 11-09-2006 5:29pm

moneyblues

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colm-ccfc84 wrote:

been using paypal for over a year with no problems. /QUOTE]

I only signed up for PayPal a few days ago to pay for items I wanted in Hong Kong. I've already received a fraudulent email purporting to be from PayPal. Thankfully this was pointed out to me in time by Ebay's account guard toolbar and by the Spoofstick toolbar!

I've also realised that, as a buyer who doesn't want to use a credit card, PayPal is useless to me as they don't accept the "Irish" Maestro debit card and nor do they permit funds to be transferred to PayPal from an Irish bank account - well not a personal account anyway - I don't know about business accounts.

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#21 11-09-2006 7:59pm

Sully

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Im a business account and they dont take money from the bank that way either.

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