Kudos to eBay....... they are covering a $5500 fraud::: update, money received
GoldenEyeNumismatics
Posts: 13,187 ✭✭✭
Several weeks ago I bought a $5500 coin on eBay using one of my buying accounts. While my main selling account has a feedback score over 2200, 100% positive and gold powerseller status this buying account is much more modest... only a few dozen feedbacks, around $20,000 in purchases, and only created a couple months ago.
The seller only had a few dozen feedbacks himself, but had a history of selling some higher value coins and seemed to have had nothing but positive transactions, so everything seemed legit.
But the guy essentially took my money and ran. He sent me an email saying he decided not to sell the coin after I had paid, then never refunded me and never responded to my emails. I had paid through paypal but not via a credit card, so as far as I know there was no way for me to do a chargeback. I waited the required time to open a case against him, then waited the required time to escalate the case to be investigated by eBay. "Escalating" a case on eBay means that talks with the other party haven't worked out and that you wish to be refunded under the eBay buyer protection policy. I called the customer support line today and they confirmed that they decided the case in my favor, and that within a couple days they will refund the full $5500 into my paypal account. Ebay will, subsequently, pursue the seller to try and recover the funds, but for now they front the money to protect me.
I'll keep the forum posted as to if I receive my refund from eBay in a timely manner. I find it very comforting that eBay is willing to protect even a small account. I was afraid that, since this buying account didn't have much history, they'd just try to sweep this fraud under the rug.
Update 4/16:
A few minutes ago ebay put $5500 into my paypal account. All's good!
The seller only had a few dozen feedbacks himself, but had a history of selling some higher value coins and seemed to have had nothing but positive transactions, so everything seemed legit.
But the guy essentially took my money and ran. He sent me an email saying he decided not to sell the coin after I had paid, then never refunded me and never responded to my emails. I had paid through paypal but not via a credit card, so as far as I know there was no way for me to do a chargeback. I waited the required time to open a case against him, then waited the required time to escalate the case to be investigated by eBay. "Escalating" a case on eBay means that talks with the other party haven't worked out and that you wish to be refunded under the eBay buyer protection policy. I called the customer support line today and they confirmed that they decided the case in my favor, and that within a couple days they will refund the full $5500 into my paypal account. Ebay will, subsequently, pursue the seller to try and recover the funds, but for now they front the money to protect me.
I'll keep the forum posted as to if I receive my refund from eBay in a timely manner. I find it very comforting that eBay is willing to protect even a small account. I was afraid that, since this buying account didn't have much history, they'd just try to sweep this fraud under the rug.
Update 4/16:
A few minutes ago ebay put $5500 into my paypal account. All's good!
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Glad this worked out Will. That's quite a bit of dough to lose!
On a $5500 charge you can get $55+ (at least 1%) just by swiping
<< <i>With most crdit cards you can get many extra protections as well as points/cash back on your purchases.
On a $5500 charge you can get $55+ (at least 1%) just by swiping >>
I don't believe that Will had an option of paying with a credit card or with Paypal. Swiping his card was
not available to him.
Having your Paypal account backed by a credit card is another conversation we could have but not a part
of this transaction.
Paypal is a huge company and $5500 to them is nothing. Their guaranty is great and I've used it many
times and have never had a problem. Just follow the rules and you are protected.
It's good to hear that another buyer was covered 100%!
bob
What do you mean by this?
I had paid through paypal but not via a credit card, so as far as I know there was no way for me to do a chargeback.
Oops, saw the backed by credit card comment .
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Please out this "seller" so we can avoid the same hassle.
thread. Had you tried to save money by using PayPal gift, you'd have been up the proverbial creek. The 3% fee
should be viewed in part as an insurance payment.
``https://ebay.us/m/KxolR5
<< <i>One other thought: Every time someone on this board b*tches about PayPal fees, they should be directed to this
thread. Had you tried to save money by using PayPal gift, you'd have been up the proverbial creek. The 3% fee
should be viewed in part as an insurance payment. >>
Paypal is a no-brainer for buyers.
The fee is pretty reasonable for sellers as well.
It's the ever increasing ebay fees which are getting totally excessive as they have no real competition.
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Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>Paypal is a no-brainer for buyers. >>
The point is that sometimes buyers try to save money by persuading the seller to use PayPal gift and passing
the savings on to them. Leaving aside the ethics of the situation, it can be a false economy unless you know
and trust the seller.
<< <i>
<< <i>Paypal is a no-brainer for buyers. >>
The point is that sometimes buyers try to save money by persuading the seller to use PayPal gift and passing
the savings on to them. Leaving aside the ethics of the situation, it can be a false economy unless you know
and trust the seller. >>
I was not even aware of that. Fortunately I've not been asked to do this, nor would I do so if asked. I agree that the PP fee is cheap and very good insurance. I have no complaints about it at all. FeeBay fees on the other hand...
BINGO!
I will add that sometimes buyers, lets just say, "misuse" what the protection is really intended for. Not impying that here in this case at all, but if you've ever been involved in a buyer attempting to defraud you via an eBay transaction, you might have a different opinion
<< <i>He sent me an email saying he decided not to sell the coin after I had paid, then never refunded me and never responded to my emails. >>
Did he really say that? It's one thing to take your money and never respond or send the item, but telling you up front that is what he's going to do is quite brazen!
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In this example, it is pretty sure the seller is the guilty party. If eBay allows the OP to file a dispute immediately, paypal can then go after the seller and there will be a higher chance for paypal to recover the fund.
<< <i>It's the ever increasing ebay fees which are getting totally excessive as they have no real competition
BINGO!
I will add that sometimes buyers, lets just say, "misuse" what the protection is really intended for. Not impying that here in this case at all, but if you've ever been involved in a buyer attempting to defraud you via an eBay transaction, you might have a different opinion
Very ture. We've all heard on the "SNAD" abuse horrer stories. A dishonest buyer really can get away with stealing. It's my biggest fear as a seller.
<< <i>One other thought: Every time someone on this board b*tches about PayPal fees, they should be directed to this
thread. Had you tried to save money by using PayPal gift, you'd have been up the proverbial creek. The 3% fee
should be viewed in part as an insurance payment. >>
Paypal fees are lower than credit card fees for sellers with better SELLER protection as well as buyer protection (I think it is probably paypal covering the OPs loss rather than ebay but that is really moot).
I don't think we see many people complaining about paypal fees, especially volume sellers like me who get the 2.2%. It is the ebay fees that are getting out of control.
BTW, I've posted it before but paypal covered a $9800 chargeback for me (the seller) so their protection works both ways.
Still, it is important for us to work hard to squash fraud (like this forum has always been good at) to help keep fees down.
--Jerry
Paypal issued me a full refund about 2 weeks after opening a case.
<< <i>Great news GEN as I had no idea the eBay buyer protection policy would cover anywhere near that amount
Ebay has covered me over 15 times, any amount is covered.
paypal=ebay
paypal was bought by ebay
<< <i>
<< <i>One other thought: Every time someone on this board b*tches about PayPal fees, they should be directed to this
thread. Had you tried to save money by using PayPal gift, you'd have been up the proverbial creek. The 3% fee
should be viewed in part as an insurance payment. >>
Paypal fees are lower than credit card fees for sellers with better SELLER protection as well as buyer protection (I think it is probably paypal covering the OPs loss rather than ebay but that is really moot).
I don't think we see many people complaining about paypal fees, especially volume sellers like me who get the 2.2%. It is the ebay fees that are getting out of control.
BTW, I've posted it before but paypal covered a $9800 chargeback for me (the seller) so their protection works both ways.
Still, it is important for us to work hard to squash fraud (like this forum has always been good at) to help keep fees down.
--Jerry >>
Exactly. As a merchant PayPal is no worse than credit cards. As a buyer I feel better protected.
When I buy on ebay I always pay by PayPal through a credit card, not my bank account.
Lance.
<< <i>remember
paypal=ebay
paypal was bought by ebay >>
Still two different outfits even though one owns the other. Paypal matters are handled only by paypal and ebay matters are handled only by ebay. For example, paypal reps do not have access to ebay messages and each offers its own buyer protection. I prefer to file my claims through paypal instead of ebay because paypal controls the money. Additionally, a telephone call to a paypal rep will many times help you expedite filing a claim or getting your money back.
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<< <i>I just received my $5500 from eBay! All's good. >>
Glad to hear!
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