Large Transfers with Paypal

I'm expecting to sell something for five figures online. Will paypal allow the transfer of $10,000 or more into an account. Should I contact paypal first on the phone to tell them I'm going to be receiving that much money at once.

I read somewhere that the person should break up the payments into smaller increments and send them back to back.

Then I read somewhere else that getting a bunch of large payments from the same person causes Paypal to flag you.

Does anyone know the real deal?

 

Most definitely they will allow big dollar amount transaction as long as you pay the fees and have all the legal documentations to verify the sale such as invoice, delivery order, purchase order, proof of delivery and all the other papers which normally accompany a sale.

Breaking up the payment may make it even more suspicious especially from the same buyer as it can be deemed as money laundering. Like I said, just have all the legal papers and you be fine.

It is when you do not have proof of sales which causes the problem. Make sure that if you want to use paypal for this, use the Request Money or Paypal Invoicing system and not the Send Money option.

However, for big dollar amount, it would be best to use escrow.com or wire transfers. The big issue is not so much paypal but if the buyer decides to do a dispute or chargeback, you will lose a lot and have a lot of explaining to do.

 

I am selling a website. I was told to do the invoice thing, and to burn the files to a CD and ship them to the buyer so that I would have a tracking number in case they disputed. I know the buyer personally and I dont think he'd screw me, but you can't put anything past anybody these days.

Since I have a website is there really a need for a delivery order or purchase order?

 

Since you are shipping the site then a delivery order should be necessary. I supposed you can use the paypal shipping option as that would suffice. The Purchase Order should be something sent by the buyer so if you do not have it, make sure you keep and archive all your email correspondences pertaining to the sale. If you have a lawyer, have him or her endorse it.

Since it is a high dollar transaction, use a courier service like Fedex or DHL to deliver it. This way you have online tracking and a tracking number. You will also get proof of delivery too when the customer signs the receipt of the package.

Well, it is true that when it comes to money, it is difficult to trust anyone these days.

Make sure that you are using a Premier or Business Paypal account for this transaction and that the account is probably verified and in good standing.

It would be a good policy to write to Paypal and tell them about the impending sale and run it through them first. Even if this does not serve any obvious purpose, it allows you to refer to that query in the future if they do flag your transaction for verification.

 

Dont Do It! Trust Me! Paypal Will Freeze Your Acc! Theve Done It To Me!

 

i wud advise you not to use paypal..dont u have any other option??

 

Selling a website is really more like a real estate transcation. do a search for for an attorney that does that kind of work and get a free consultation, or look for some articles on this relatively new field of property transactions.

It sounds like this is your first transcaction like this. I would try to get it exactly right the first time. Then you'll know.

Like most small companies, websites are priced at 10 times the free annual cashflow or better.

Hope that helps.

 

For huge amounts, better use TT, bank wire. Its safe and cost effective..

 

I would never use paypal for a five figures transafer. Its insane to think about that large transfer with paypal. one charge back and you are out of your figures plus you have to pay more for handling charges.

Goodluck

 

Go with bank wire. paypal fees are going to eat a fat chunk out of that

 

Yes, not only will the fees be a disadvantage but PayPal is VERY unreliable for virtual goods such as domains, websites, etc. Bank transfer/wire is the way to go.

 

If you know the buyer personally, get into your car, go over him, get the cash in hand and then hand him over the cd. If he lives far away, get a plane ticket. You're loosing one day and a few hundreds but you're sure everything goes smoothly. Just my 2 cents ...

 

We always use to ship a CD via UPS with tracking and paypal never protects the seller! We got taken for about $10,000 over 3 transactions in 6 months. We provided all information required by paypal, however the credit card company refused to release funds to paypal thus paypal refused to hand back the funds even tho we have all the proof including UPS tracking number with signed acceptance, godaddy transfer PLUS whois was in their name, proof of emails that they "love the site".. yet paypal didn't protect us. Go figure. Paypal corporation is a joke.

 

I agree wit ha wire transfer or a service such as Western Union (if this is a trusted person)

 

Do you think that PayPal, or any company for that matter is going to "eat" $10,000? If the credit card company doesn't agree with the information that you've supplied to PayPal, that they were given, then of course, the disputer wins. PayPal is sort of a middle man in this type of case, and not at fault.

 

use escrow.com or if the money is right fly out there and get the ca$h.

Paypal screws sellers left and right. Anyway, their fees are high and could offset the cost of airfare.

 

I agree with Hav0c here. The Bank has the final discussion when it comes to a chargeback. If the bank does not want to refund the money to Paypal, how can Paypal pays you ? It is not like Paypal stands to benefit when the buyer disputes, they will have to lose the commission which they would otherwise earned. It is of course in Paypal's best interest to keep the deal as far as possible.

Paypal did not initiate the deal, they are the mere middle man. If you want to blame, blame the buyer or the bank.

 

Paypal is very iffy on any transaction, large or small. if possible use another method.

 

definitely will allow you to transfer that amount but after that your account will get limited , and you cannot make any payment or withdraw your money for six month

 

yeah paypal will freeze u and ask for some additional documents.If u can't present them u will be out of the play.