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PayPal Help, please!!
Julian
Posts: 3,370 ✭✭✭
I need some counsel.
I had a zero feedback buyer purchase two items in two different purchases for a total of 25K. He made payment thru Paypal, with a confirmed address. I have made two calls to PP and have been assured that I cannot lose the money.
Can anyone tell me if they believe that there is a way that I can lose the money?
Many, Many, Thanx.
I had a zero feedback buyer purchase two items in two different purchases for a total of 25K. He made payment thru Paypal, with a confirmed address. I have made two calls to PP and have been assured that I cannot lose the money.
Can anyone tell me if they believe that there is a way that I can lose the money?
Many, Many, Thanx.
PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
0
Comments
At that level, I would be a little paranoid and go through the above.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>Arguably he could always do a chargeback, and you're at the mercy of the CC company. Regardless, you need to ship with a method that has electronic records (ie, sig confirmation atop registered). >>
Make sure that BOTH tracking numbers get put into the USPS tracking system. Some posthole workers don't always scan both.
MY COINS FOR SALE AT https://www.pcgs.com/setregistry/collectors-showcase/other/bajjerfans-coins-sale/3876
take pictures of the item at the PO (if they let you... perhaps find one that definitely will) take pictures boxing it up at the PO even.
PayPal likes to see you use their "print address label" feature (so you can't be accused of mis-labeling it)
pay extra for "Restricted Delivery" and "Signature Confirmation" then you can go absolutely insane and pay for the green "Return Receipt" card.
if this is an eBay transaction, use their "contact" feature to send the Sig. Conf. number to them, AND use the "add tracking number" feature to add it into the system.
and, as mentioned, you're always at the mercy of a chargeback or some such.
we're adding a little extra precautions because of the "25K nature" of it.
I am sure I am in the minority, but there is NO way that
I would do a $25K deal with an EBAY-stranger via PayPal.
......
The primary risk is a bogus SNAD-claim that can end with
the "return" of a rock or an empty envelope.
.....
Such a transaction via PayPal would be "safe" outside of
EBAY. Only INR-decisions are made in such deals; there
are no SNAD-decisions issued.
..........
Fraudulent SNAD-claims thru a credit-card chargeback
are always a risk, but are many times more risky if the
charge was made thru PayPal.
The credit-card companies are skilled at exposing fraudulent
chargebacks; PP is not, and they don't care if the seller is
defrauded.
PayPal is the "merchant of record" in ALL credit card transactions
processed thru their platform. This precludes the seller from
dealing directly with the CC-company in the event of a fraudulent
chargeback.
...............
If the money is not on hold at PP, move it out of the account ASAP.
......
insured, sig conf., and everything else on both.
Seems like we get ripped off everyday for $250 items, 25K is a lot of money.
and I would not trust paypal either.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>Why risk $25k at all. Why can't you contact the buyer and transact/ship it the way you feel comfortable and if he doesn't like it then you know he is a pos and all you then risk is getting 1 neg. >>
Bingo!!
Ebay/Paypal are set up to protect the buyer and not the seller. I would think that what you sell is a notch above what the regular scammers buy and it will probably be okay.
While 25k is not a lot of money, i would make a day trip to pick up cash and see the sights. Just do not stop at Taco Bell
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>Why is it when I want a coin I have to do what the seller asks, he has the coin that I want, and I have to make him comfortable. >>
As a general rule, it's because, by deciding to purchase a coin, you have already satisfied yourself that the seller is safe to do business with. The seller, on the other hand, likely doesn't know the first thing about you and has no easy way to check you out. Once you're known to the seller, it's not unusual to be able to get more favorable terms when you make additional purchases.
and then do a reverse phone number check to confirm the names and address are legit
and then learily send via registered
but then again, I do not ever see myself selling a $25K items on eBay
Talk about all over the board here. I ship all the time via paypal/ebay with large sums of at least 25k, nothing to worry about IMO. Pack them up ship them off cancle the ebay transaction after the buyer recieves the coins to get some of the fee's back if you are concerned about them. All this video tape/ take pictures is a bit extreme IMO. Take a road trip? How silly, you run a buisness if you are not comfortable selling items of that value on ebay then dont do it in the first place. When it comes down to it 25k is really small potatoes when it comes to the amount of money that goes in and out of paypal and the value of items sold on ebay.
On another note, if its the 0 feedback issues then just get his or her number and give them a ring, feel them out a bit. Double check the address, ship it registered, get sig confirmation and you will be fine.
<< <i>cancle the ebay transaction after the buyer recieves the coins to get some of the fee's back if you are concerned about them. >>
Julian is of far too high an ethical standard to do that.
<< <i>
<< <i>cancle the ebay transaction after the buyer recieves the coins to get some of the fee's back if you are concerned about them. >>
Julian is of far too high an ethical standard to do that. >>
Just stating something similar to an earlier post about canceling the paypal transaction to get fees back. I figured someone would jump in stating an ethics call regarding the statement, While I dont condone the practice it is simply common for people to do such things.
<< <i>
Just stating something similar to an earlier post about canceling the paypal transaction to get fees back. I figured someone would jump in stating an ethics call regarding the statement, While I dont condone the practice it is simply common for people to do such things.
>>
In that case, Julian would then no longer have the money, and thus would need to get it via some other method. Just because people do something is no reason to suggest it as a good idea. And to be quite frank, you are condoning it if you offer it as an unqualified suggestion.
Sounds simple, but only if you are looking narrowly. Also, I am sure Julian has a lot going on and this is just one deal of many....many are probably for even more money since he deals in some high end seriously cool coins.
While I thought my idea, which I would do, was paranoid, some of you guys make me wonder if you have aluminum hats on all the time
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>
<< <i>
Just stating something similar to an earlier post about canceling the paypal transaction to get fees back. I figured someone would jump in stating an ethics call regarding the statement, While I dont condone the practice it is simply common for people to do such things.
>>
In that case, Julian would then no longer have the money, and thus would need to get it via some other method. Just because people do something is no reason to suggest it as a good idea. And to be quite frank, you are condoning it if you offer it as an unqualified suggestion. >>
Everyone is entitled to an opinion, I dont recal suggesting it as a "GOOD" idea, simply an option. Regardless of what you think its an option and thats all I was saying. You can continue to rant about uqualified suggestions and so on but in the end its an option that some choose to use due to the fees incured through ebay.
<< <i>Everyone is entitled to an opinion, I dont recal suggesting it as a "GOOD" idea, simply an option. Regardless of what you think its an option and thats all I was saying. >>
Taking the money and not shipping is also an option. It's not a "good" idea, simply an option. But it's not ethical, thus, I wouldn't suggest it.
<< <i>
<< <i>Everyone is entitled to an opinion, I dont recal suggesting it as a "GOOD" idea, simply an option. Regardless of what you think its an option and thats all I was saying. >>
Taking the money and not shipping is also an option. It's not a "good" idea, simply an option. But it's not ethical, thus, I wouldn't suggest it. >>
I see your point!While a bit more extreme I understand what you are trying to say.
<< <i>Person may be using paypal to use credit cards to make the purchase. Saying to cancel and refund and use a bank wire, or go pick up the cash, is not thinking things out.
Sounds simple, but only if you are looking narrowly. Also, I am sure Julian has a lot going on and this is just one deal of many....many are probably for even more money since he deals in some high end seriously cool coins.
While I thought my idea, which I would do, was paranoid, some of you guys make me wonder if you have aluminum hats on all the time
different people, different levels of comfort or discomfort.
a note: paypal requires a signature confirmation over a certain dollar amount and this situation qualifies. odd thing is, the PO clerk told me that over $200 requires a signature whether or not one uses signature confirmation.
<< <i>
a note: paypal requires a signature confirmation over a certain dollar amount and this situation qualifies. odd thing is, the PO clerk told me that over $200 requires a signature whether or not one uses signature confirmation. >>
PayPal's signature requirement is only met if the signature can be seen online (sig confirmation or Express Mail... even Registered isn't good enough).
Box of 20
Return receipt by email has electronic signature when you ship registered. Only way I ship over $400.
Box of 20
<< <i>
<< <i>
a note: paypal requires a signature confirmation over a certain dollar amount and this situation qualifies. odd thing is, the PO clerk told me that over $200 requires a signature whether or not one uses signature confirmation. >>
PayPal's signature requirement is only met if the signature can be seen online (sig confirmation or Express Mail... even Registered isn't good enough). >>
Oh, true.
and even if sending this registered... I'd still slap the Sig. Conf. on there, because they get scanned much more regularly than a registered mail tag (hit-or-miss... mostly miss)
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>
<< <i>
<< <i>
Just stating something similar to an earlier post about canceling the paypal transaction to get fees back. I figured someone would jump in stating an ethics call regarding the statement, While I dont condone the practice it is simply common for people to do such things.
>>
In that case, Julian would then no longer have the money, and thus would need to get it via some other method. Just because people do something is no reason to suggest it as a good idea. And to be quite frank, you are condoning it if you offer it as an unqualified suggestion. >>
Everyone is entitled to an opinion, I dont recal suggesting it as a "GOOD" idea, simply an option. Regardless of what you think its an option and thats all I was saying. You can continue to rant about uqualified suggestions and so on but in the end its an option that some choose to use due to the fees incured through ebay. >>
I didn't read any "rant", but rather a calm, sensible response to the thought or suggestion of an unethical option.
I work in the computer industry and have studied Security and fraud for some time now.
I have never been beat on ebay but once but that was for <$25.
Don't listen to what the person on ebay said they will say nything to get the transaction through.
Cashiers check mailed to you or coonfirmed wire.
Shoot how far does the guy live form you?
I live in Del/MD/VA area. He/she close to there?
One other thing you can do is get the persons full name (middle included)
go to their local judiciary (on line) you can find out past cases (if any ) on them.
It is not hard to scam through paypal.
MC
<< <i>
<< <i>
<< <i>
<< <i>
Just stating something similar to an earlier post about canceling the paypal transaction to get fees back. I figured someone would jump in stating an ethics call regarding the statement, While I dont condone the practice it is simply common for people to do such things.
>>
In that case, Julian would then no longer have the money, and thus would need to get it via some other method. Just because people do something is no reason to suggest it as a good idea. And to be quite frank, you are condoning it if you offer it as an unqualified suggestion. >>
Everyone is entitled to an opinion, I dont recal suggesting it as a "GOOD" idea, simply an option. Regardless of what you think its an option and thats all I was saying. You can continue to rant about uqualified suggestions and so on but in the end its an option that some choose to use due to the fees incured through ebay. >>
I didn't read any "rant", but rather a calm, sensible response to the thought or suggestion of an unethical option. >>
I figured it would just be a matter of time until you came along!!!
<< <i>
<< <i>
<< <i>cancle the ebay transaction after the buyer recieves the coins to get some of the fee's back if you are concerned about them. >>
Julian is of far too high an ethical standard to do that. >>
Just stating something similar to an earlier post about canceling the paypal transaction to get fees back. I figured someone would jump in stating an ethics call regarding the statement, While I dont condone the practice it is simply common for people to do such things. >>
Earlier post was not a suggestion to cancel paypal to get fees back. Suggestion was to cancel paypal transaction and go to a much safer wire transfer if seller was that worried about being ripped ouf. Side benefit of going to a safer wire transfer would be a return of paypal fees.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Don't do this deal Julian.......I have had over 80k in orders on my website in the last 8 weeks and ALL of them have been first time buyers ranging from 2k to 24k in value and NONE have been valid. If any doubt refund the Paypal and ask the card holder to call you with the information and call the card company with this information and request a card verification on the purchase.......I'll bet 99.9%% that I'm right and this charge is not valid.
Good luck Julian.
Check out my PQ selection of Morgan & Peace Dollars, and more at:
WWW.PQDOLLARS.COM or WWW.GILBERTCOINS.COM
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>Why risk $25k at all. Why can't you contact the buyer and transact/ship it the way you feel comfortable and if he doesn't like it then you know he is a pos and all you then risk is getting 1 neg. >>
I tend to agree. There are other options such as a wire transfer or bank check or a group of postal money orders. For me the low feedback is a factor. I would not do a paypal deal in this case. The risk is very great. paypal is not on a sellers side at all.
Maine_Jim
<< <i>Why risk $25k at all. Why can't you contact the buyer and transact/ship it the way you feel comfortable and if he doesn't like it then you know he is a pos and all you then risk is getting 1 neg. >>
Because if you follow paypal rules you are covered, if you don't you aren't. I don't like you're "my way or you're a POS" attitude either. --Jerry
-Jerry
Follow paypal rules for shippers exactly. I would use paypal shipping to print the labels and then add your insurance separately if possible. I don't know what your insurer requires but if they like you to ship UPSP express or UPS those can both be printed by paypal shipping. This helps ensure you meet all the paypal rules.
I had a newbie buyer do a chargeback for just under $10,000. First paypal denied his chargeback. Then he did a credit card chargeback and paypal covered that. Paypal lost about $8k on the deal. But if they tell you you're covered, and if you follow their rules to the letter, then you are covered.
--Jerry
<< <i>Contact buyer and request that he wire funds to your bank after you refund him through paypal. Much safer. You will also save on paypal fees. What were the paypal fees on that kind of amount. $25K limit on registered mail insurance. Be sure to signature confirmation or electronic return receipt. I'd be scared of a CC chargeback down the road. I would definitely transfer the money from paypal to the bank and even consider closing the bank account for that amount. You can always open a new bank account. >>
Good way to get kicked off ebay. --Jerry
<< <i>Wow, I myself would not risk it. Maybe do an escrow transaction with it..?? >>
If you want escrow, you have to put that in the auction. You can't decide you want escrow after the buyer has already paid. --Jerry
<< <i>Take a plane to where he lives and demand cash. >>
You can't change the terms of the auction after it has closed. Julian obviously stated in the auction that he takes paypal and so he can't demand cash. --Jerry
<< <i>PM Sent.......
Don't do this deal Julian.......I have had over 80k in orders on my website in the last 8 weeks and ALL of them have been first time buyers ranging from 2k to 24k in value and NONE have been valid. If any doubt refund the Paypal and ask the card holder to call you with the information and call the card company with this information and request a card verification on the purchase.......I'll bet 99.9%% that I'm right and this charge is not valid.
Good luck Julian. >>
I had a 3k deal on ebay/paypal reversed tonight. Paypal froze the money from the beginning while they did an investigation TO PROTECT THEMSELVES. If they said it was good and I shipped, then the guy was a scammer, they would have to make good. Once they say it is good, they are willing to stand behind it. --Jerry
<< <i>You should only accept paypal if you are able to risk losing the 25K to a bogus SNAD claim or CC chargeback. People can tell you all they want how safe and reliable using paypal is, but all it takes is one scammer to change that opinion right quick. If it were an established ebayer with a track record, I may consider it, but accepting paypal for a 25K deal from a buyer with a zero? Never...unless you can stand to lose the money, that is, and most can't for that amount! >>
So you recommend he back out of the deal and take the (well-deserved) negative feedback? --Jerry
Those who want to change the terms of the contract after the buyer had already paid are probably the ones that would be squealing the loudest if an ebay seller did it to them.
--Jerry
you can check out the name and address, too. many jurisdictions have property taxes online. hopefully, they don't rent.
check out the whitepages. I use (and if there is something better let me know) this place
you can reverse check their address and telephone number.