Paypal seller protection changes

JohnnyCache

According to an email I received today, Paypal is changing some of its policies, including one that could be important to those here who sell collector coins and U.S. bullion coins, depending upon how the new policy is interpreted.

The policy I'm referring to is the one below in italics



The new item that will not be eligible for Seller Protection is:

Items equivalent to cash, including gift cards.


Paypal Policy Changes - Details

To me, this could leave open to interpretation whether, or not, someone selling a silver, gold or platinum eagle, or even a U.S. collector coin, will be afforded seller protection, as those items could be viewed as being cash, or cash equivalents.

If you sell frequently, and accept Paypal as payment, you may want to confirm beforehand that you still retain seller protection for these type of items under these new policy changes.

Just my thoughts - share yours freely


Johnny Cache

derryb

Thanks for heads up. I emailed paypal asking, under the agreement update, if coins and bullion would be covered by seller protection.

Here's the only answer I got:

"What transactions are eligible for Seller Protection?
Not all transactions are eligible for PayPal Seller Protection. If a transaction is eligible for PayPal Seller Protection, you’ll see "Eligible" or "Partially eligible" on your Activity page.


Here’s how to see if your transaction is eligible for Seller Protection:

Log in to your PayPal account.
Click Activity near the top of the page.
Click the transaction.
Under Seller Protection, see if your transaction is eligible.
Note:

With "Eligible" transactions, you are fully protected if your buyer doesn’t receive the item you shipped or if an unauthorized payment was made.
With "Partially eligible" transactions, you are fully protected if a buyer doesn’t receive the item you shipped. A "Partially eligible" transaction does not protect you against unauthorized payments.
If you don’t see "Eligible" or "Partially eligible" on your "Activity" page, the transaction isn’t protected under PayPal Seller Protection."

Guess I'll just have to wait for a paypal payment after the change goes into affect on 6/25 to see if I'm covered.

Booger9989

This could get real nasty! How about US Mint products like the gold mercs? Or even proof sets?

I have been trying to step back from paypal and use USPS money orders. This may push me to finally move on from paypal now. I dont want to be the person who has to test the new rules. Right now in life I cant afford to take a major hit...

Booger9989

This should also be posted on the coin forum.....

OPA

The way I interpret it, cash equivalent items may already have been excluded.

SECTION 13.3 Ineligible Items

We’re updating the list of items that are not eligible for Purchase Protection. The new items that will not be eligible are:

Payments on crowdfunding platforms
Anything purchased from or an amount paid to a government agency
Gambling, gaming and/or any other activity with an entry fee and a prize

We’re also clarifying the exclusion for items equivalent to cash to now include stored value items such as gift cards and pre-paid cards.


Current Ineligible Items:

11.5 Items/transactions not eligible for PayPal Seller protection. The following are examples of items/transactions not eligible for PayPal Seller protection.

Intangible items, including Digital Goods, and services.
Claims or Chargebacks for Significantly Not as Described.
Items that you deliver in person, including in connection with In-Store Checkout.
PayPal Direct Payments.
Virtual Terminal Payments.
PayPal Business Payments.

hchcoin

Thanks for the heads up.

piecesofme

Originally posted by: derryb

Thanks for heads up. I emailed paypal asking, under the agreement update, if coins and bullion would be covered by seller protection.



Here's the only answer I got:



"What transactions are eligible for Seller Protection?

Not all transactions are eligible for PayPal Seller Protection. If a transaction is eligible for PayPal Seller Protection, you’ll see "Eligible" or "Partially eligible" on your Activity page.





Here’s how to see if your transaction is eligible for Seller Protection:



Log in to your PayPal account.

Click Activity near the top of the page.

Click the transaction.

Under Seller Protection, see if your transaction is eligible.

Note:



With "Eligible" transactions, you are fully protected if your buyer doesn’t receive the item you shipped or if an unauthorized payment was made.

With "Partially eligible" transactions, you are fully protected if a buyer doesn’t receive the item you shipped. A "Partially eligible" transaction does not protect you against unauthorized payments.

If you don’t see "Eligible" or "Partially eligible" on your "Activity" page, the transaction isn’t protected under PayPal Seller Protection."



Guess I'll just have to wait for a paypal payment after the change goes into affect on 6/25 to see if I'm covered.

Wow...the way I interpret all that is you wont know if it's covered until AFTER you've sold it. Is that right? and thanks to all for the heads up.

derryb

If it's an ebay sale you still have their protection. I prefer to handle all of my claims through paypal since they control the money.

TwoSides2aCoin

Sad day in the 'hood when rules prevent commerce.