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Thread: Buying & Selling Online using Paypal

  1. #21
    kitsch killer Faust's Avatar
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    I was just being silly, sorry. Felt like a funny thing to write.
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  2. #22
    kitsch killer Faust's Avatar
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    Quote Originally Posted by beardown View Post
    Another interesting fold is that Paypal can apparently lock your account for no reason and freeze the money for up to 90 days.
    It apparently happens quite frequently and they don't have have to give a legitimate reason to do so.
    I've been told many times never to keep more than $1,000 in the account at one time.

    This is one example but if you google it, it's quite common.

    Reasons appear to be: too much money in an account, too much activity, too little activity, to many transfers to the same person, too many received payments from a single source, sketchy credit reporting from credit agencies, etc, etc.

    There are some guidelines here to help avoid it but I'm not sure if there really is a way to avoid it or to combat it if it happens.

    I've never had it happen to me but I don't deal in large transfers. Apparently if you sell something for over 2 grand and receive a payment, it flags your account for review. Something to look into and keep in mind.
    You shouldn't have to be warned about that. First thing I do is move money to my bank account each time I receive a payment.
    Last edited by Faust; 08-10-2009 at 07:22 PM.
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  3. #23

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    Quote Originally Posted by Faust View Post
    You shouldn't have to be worn about that. First thing I do is move money to my bank account each time I receive a payment.


    Exactly. I don't care if I have five bucks in that sucker, I transfer it as soon as I get it.

  4. #24

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    Quote Originally Posted by Faust View Post
    You shouldn't have to be warned about that. First thing I do is move money to my bank account each time I receive a payment.
    Shouldn't have to be warned? I was making 3.6% interest on it and most of that was coming on going between buys and sells. It wasn't like I was starting a retirement fund and leaving money stagnant in there. It was generally a cumulative balance from selling stuff that was, in turn, used to buy other stuff.

    3.6% is much better than my bank savings account and it was convenient for the most part to keep a separate fund for buying and selling.
    Quote Originally Posted by mizzar View Post
    Sorry for being kind of a dick to you.

  5. #25

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    Why can't people SHARE the fees with their buyers/sellers? When I buy something and a seller charges me a 4% fee, I always have this moment of question and uncertainty. I just think that people are trying to pass on their own experience of disadvantage (for instance, pAYPAL) to others along with the fear of losing.
    If people were generous enough to make that 4% to 2~3% depending on the price, I think it could make some of those rants quiet down a bit. Or, even better, talk to each other to answer this question - is that even necessary?

    Yes, I agree with ironman and others who said about the exchage rate. But this isn't just with Paypal. I don't know how many of you use Moneybookers but they also have those 'I'm over here' exchange rates. I don't know that much about Google Checkout but there is a chance that they could be more or less the same. (Plus almost all the buisiness/companies that exist out there)

    As for the Paypal's recent change in fees that made some ooze negative light beams, I don't know if it should be a big deal. Apparently, people are charged more than they have been. My point is this kind of "fooling people" unquestionably exists. Generally speaking, people buy the saying, "Seeing is believing." I think buisiness plays with this idea when it comes to money matters to make people conceive it and believe it. This would ultimately give consumers enough time to push the final button. I guess Paypal needs more practice since they are yet to stand on the same cliff as the other professionals.

  6. #26
    kitsch killer Faust's Avatar
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    Quote Originally Posted by beardown View Post
    Shouldn't have to be warned? I was making 3.6% interest on it and most of that was coming on going between buys and sells. It wasn't like I was starting a retirement fund and leaving money stagnant in there. It was generally a cumulative balance from selling stuff that was, in turn, used to buy other stuff.

    3.6% is much better than my bank savings account and it was convenient for the most part to keep a separate fund for buying and selling.
    Ok, you have a point . I just like money to be in my bank.
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  7. #27

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    No, Faust. You're right....I felt a false sense of security because they handle and transfer so much money but in fact, they're not a bank and whatever interest I was making came at a high risk.

    I assumed they had established themselves as a bank but the more I find out about them, the less apt I am to even want them to have access to my checking accounts and information of that nature.

    They've no FDIC insurance since they're not a bank and they have no oversight that a federal banking institution might have.
    I think it's a typical case of convenience winning out over rationale but I am being much more cautious after reading more up on their company and practices.
    Quote Originally Posted by mizzar View Post
    Sorry for being kind of a dick to you.

  8. #28

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    In Europe it had a license to be a bank in Luxemburg. All the common rules of an european Bank should be obeyed. In the United States, PayPal is licensed as a money transmitter on a state-by-state basis. PayPal is not classified as a bank in the United States. So As i am from Europe i am not really afraid what they are doing wit my money but i will never let a cent in my account. I transfer em all to my bank account. at least you get 1-2% of interest lol.

    Btw, the prob wit data privacy is considerable.



    Quote Originally Posted by beardown View Post
    No, Faust. You're right....I felt a false sense of security because they handle and transfer so much money but in fact, they're not a bank and whatever interest I was making came at a high risk.

    I assumed they had established themselves as a bank but the more I find out about them, the less apt I am to even want them to have access to my checking accounts and information of that nature.

    They've no FDIC insurance since they're not a bank and they have no oversight that a federal banking institution might have.
    I think it's a typical case of convenience winning out over rationale but I am being much more cautious after reading more up on their company and practices.

  9. #29

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    I too am surprised that there still isn't a decent alternative to paypal, as people have been complaining about paypal for years and years. There's certainly a lot of money to be made. Maybe someone here wants to start a new business?

    As another poster previously mentioned, paypal's exchange rates are atrocious. Since a lot of us deal with overseas sellers, the pound, euro, and yen are often converted to dollars and vice versa, and paypal screws us on the conversion rate, making themselves a nice chunk of change in addition to the fees they're already charging.

  10. #30

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    my worst experience was getting a refund after i already transferred the funds from CAD to USD. then back to CAD. PP ate like 3% each time. ughhh

  11. #31

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    What is everyone's experience here regarding shipping to unconfirmed Paypal addresses? The buyer is in Thailand.

    I listed an ad on SuFu to get rid of some denim. In the ad it stated that I would only ship to confirmed Paypal addresses...in addition with the last exchange with the buyer, I once again indicated that I would only ship to a confirmed Paypal address.

    When I checked the Paypal payment this morning, it shows an unconfirmed address. I contacted the buyer and asked him to resolve this. He indicated that Paypal will not confirm his address. I looked into this on Paypal and it appears that Paypal will confirm based on adding a credit card. Buyer also has 42 positive feedback on EBay.

    What would you do...ship or not ship?
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  12. #32
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    I don't think adresses outside the US can be confirmed?

  13. #33

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    that's not true. i was looking through my e-mails, and it always seems to say that the address is unconfirmed for non USA/Canada addresses

    BUT when i log in to my PayPal and view the transaction pages, i see that some of them are in fact confirmed addresses. here is one recently from a buyer in Denmark:



    i don't know if it applies to all countries of course, but i would say they can still be confirmed

    i think nowadays you are "partially eligible" for Seller Protection if you ship to an unconfirmed with tracking?
    Last edited by ironman; 09-17-2009 at 09:45 AM.

  14. #34

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    most non-continental US & Canada addresses can't be confirmed - while they may have extended that to cover Scandinavia, i very much doubt Asia is covered as yet.
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    Last edited by jgan85; 04-05-2011 at 09:23 PM.

  15. #35
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    I have to look that up, would be great if it's true. like a year ago when I tried I couldn't get it confirmed.

  16. #36

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    i believe that you are still partially eligible if you ship to an unconfirmed address. However, you have to get the buyer to confirm the address outside of paypal, either by email or PM. And you have to ship the item with some sort of tracking/delivery confirmation.

    For international shipping, the latter requirement sucks, but you may ask the buyer to pay the extra.

  17. #37

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    bestial --> i was living in sweden up till three months ago and i couldn't get my address confirmed either, so its either really recent or its just denmark.

    nikov --> if you're shipping from the US, i think you're covered as long as you ship via a service with actual tracking (as opposed to those that merely say "item shipped US XX/XX/2009" and "item arrived at ?country? XX/XX/2009". and as a buyer, i absolutely hate paying $30 for shipping for a simple item for the sake of the seller's security, but i think that's the way the system makes it for now.

    J

    EDIT --> wrt bestial, below - agreed its all about allocating the risk of loss between the seller and buyer, and in most cases both sides are amenable to negotiation over the shipping price.
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    Last edited by jgan85; 04-05-2011 at 09:23 PM.

  18. #38
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    well looked briefly yesterday, didn't find anything.

    to chip in to the tracking discussion. I always want to send with tracking, not only because of eliminating the risk to get screwed by a buyer complaining to paypal on false premises. but to eliminate the risk of it getting lost. have had packages get lost in the mail and it's always a big hassle "who's gonna take the blame", when we all now that it's the postoffice fault. I don't want to pay for their mistakes.

    so if a buyer don't want to pay for extra shipping he should be alarmed that if it get's lost it's his loss. but if it gets pay by paypal that oral agreement won't get long when a claim is raised of course.

  19. #39

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    buying tracking reduces the risk of it getting lost, but does not eliminate it entirely

    i've had two transactions where after landing in the destination country, the tracking just stopped. luckily, Canada Post was true to their word and refunded the declared value

    if you are sending a very expensive item, your best bet would be to declare full value so that if it gets lost, you won't get screwed even if PayPal screws you

  20. #40

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    something i dont quite understand. why is it necessary for a seller to ship to a confirmed address? is there a chance he might get scammed if it isnt? but the payment transaction has already gone thru, hasnt it?

    or is it a moral issue to get things shipped to where they belong?

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