Receiving a big payment in PayPal, Should I be worried?

Hi,
I have a verified paypal account on which I am under process of getting a big payment(around $2k). the sender is sending that via eCheque. I want to withdraw that into my Indian bank account.

just two things:

* Should I be worried? is it safe ?
* How to get better exchange rate, since paypal's exchange rate sucks and with amount that big, the different is not small to ignore.

 

No, need to worry if everything is good and real from your side.
And there is no option to withdraw with good exchange rate. As there is only that bank transfer option in PP nowadays with around Rs.44-45 for 1 USD.

 

eCheque is safe.Dont worry mate...

who knows?

 

It's not a bad idea to contact paypal and give them a heads up that you have a
good size payment coming.

They can make notes and it may alleviate and holds they may place.

 

yes i think it safe...

 

e-cheque and bank transfers have no issues if its authentic...
i had received three fold times the amount than this without issue.....

 

If he is a trusted person,then there is no need to worry

 

I'd actually be very careful not over just PayPal, but the seller too. If you're dealing in virtual goods, you leave yourself really vulnerable.

Personally I wouldn't accept such a huge PayPal payment unless I get the person's confirmed PayPal address, telephone number and other personal documents otherwise you might get scammed.

Check out my FAQ if you want more info.
http://forums.digitalpoint.com/showthread.php?t=1937279

 

i'd recommend that payments above $500 be wired

 

Hi,
Thanks everyone for replies.
I am fully confident as I personally know the guy sending me the payment. What I am worried about is Paypal and Income Tax Liability. I am a freelancer and I write code for living. I don't have any company - so not sure how can I prove the source of income is legitimate or show invoices. so I think I would withdraw payment in small parts to be safe.

I hope everything goes okay. Fingers crossed

 

If your payment is genuine and its as per their tos then you dont have to worry about it

 

I am agreed, don't ever risk your self, don't know when will they limit your acct.

 

I'm guessing you've already paid since it was 2 days ago, but here's my experience on larger amounts to dubious countries:
I did a transaction of above $1k to a Chinese PP account roughly 2 years ago and within 15 minutes of transferring it I got a call from their English support asking me to verify it. After saying it was legit they just passed it through without any problems.
I don't want to imagine all the steps I would have to go through if I wouldn't have answered the phone, or if my phone number was wrong in the account.

So make sure your details are up to date and you should be fine

 

Hope your payment goes well without any problems good luck

 

I don't see what the problem is. $2k via Pay Pal is not so out of the ordinary that you need to do anything differently. People transact millions through Pay Pal everyday..as long as both parties are legit, there is no problem.