Hi, I'm about to do a transaction involving a lot of money with Paypal. I've heard the horror stories about refunds, and scammers asking for a refund and that if you lose, Paypal will take your money back without question. My question is: once I accept the payment, and transfer that money to my bank account, leaving my Paypal account with a balance of $0, will Paypal still be able to take money away from me? thanks.
Paypal is a highly secured company for online transactions working with more than 1 million account users. They usually are NOT in any frauding business, they may charge a portion of money for their transaction charges, but evrything is transparent with paypal......unless some hacker hacks ur paypal ID and pswd and transfer ur bucks into his a/c....in that case all that u will suffer is from bad luck. Quite a few times, people have been scammed like that....But I really rely after making many payment transcations via paypal in this few months.
can anyone shed some light on this? I'm making a transaction soon and I don't want to be charged just because somebody sent me scammed money from a stolen paypal account
Well if it does happen, couldnt you allways contact Paypal and explain what happend. If your that worried I would not do it.
Generally with online transaction without a signature and no proof of physical delivery, the bank will most likely side with the customer. If you withdraw the funds and there is a chargeback or a refund, what happens is that the positive balance may go to the customer and your account would go into a negative balance if you do not have sufficient money in it. Going into a negative balance is prohibited by Paypal and at which time your account would be limited. You will need to top up to a zero balance. Basically, when you deal online with Paypal, make sure that you do your due diligence with each customer you deal with and never sell to anyone who seems suspicious, using a 3rd party account or has an unverified account. Now it is hard to determine what is good because you would notice here that people are using fake IDs (such as VCC) and fake address to sign up for their account, if they are dishonest from the beginning, the likelihood is that they would be dishonest with their dealings. Only use Paypal if you actually can provide proof that you physically ship the product (ie courier tracking), otherwise do not use Paypal at all.
I believe that they will still get the money from you even if you close the account. With digital goods, I have heard that it is 50/50 as to charge backs. If they claim that the goods weren't received, just say that digital goods were delivered and cross your fingers. Unauthorized is a different matter. You're pretty much out of luck if you can't prove that it really is the owner of the account who sent you the money. Just make sure that you are dealing with a reputable person. There is one other thing. I don't think that there are options to chargeback a service payment (needs confirmation, since I haven't been in that situation). So you could just tell them that they have to send it as a service payment. You can also make them pay, open a dispute, and then close it before you transfer the passwords and files. You obviously need to be very reputable member to get them to agree to this. That way they shouldn't be able to do a chargeback later. I almost forgot that you should consider escrow for payments over $600 (I think, again I would have to really research the fees).
When I tried to do a chargeback for a service I never received. The guy had $0.00 in his paypal account. This is their response. Pretty fucking lame if you ask me.
what we're doing is he's paying me first, and I would deliver the goods to him locally. I'm just worried that he might report to paypal that he never received the delivery. and from all the horror stories I've heard, "paypal doesn't care about you" or something like that.
If you are meeting the person then have him sign a document to state that he received the goods. Also if possible, bring a digital camera and take a picture of him receiving the goods
to me, it all sounds a bit weird. "hey, can i take a picture of you?" and what if the buyer claims that he never signed the document and that it was all made up?
Yes, PayPal can still take the money out of your bank account and I've heard of it happening before. If they flag your account as suspicious they will pull the funds back out of your account and they will make you prove that the funds were from a legit transaction. If you can't prove it they will keep the funds. A lot of PayPal's business practices are illegal and I can't wait for a competitor to come out.
For the money, you might just want to use the post office and have them do signature confirmation. It sounds like you sending something pretty valuable. They can't dispute verified post office signatures.
Don't be soo sure about Paypal. I used to trade on eBay. Send a guy 1,200$ worth of items with signature verification. Guy got the stuff, put a claim with his credit card company and Paypal promptly made my accont negative for the amount above. I email the guy told him I have proof, he emailed Paypal and told them he got the stuff. Paypal said, sorry we have already refunded that amount back to the customer. eMailed customer and customer "claims" he did not get any money back to his card. I called Paypal, emailed them 100 times (yes I counted the number of emails). Paypal stand is contact the customer. Customer's stand is contact Paypal. Paypal does not care for vendors (even though they are one that make them the most money). Also take a look at their "Infamous" TOS. You will see that they DO NOT follow a lot of US banking rules. Beware of using Paypal for larger transations or trusting them with your personal details. I can't wait till there is a Paypal killer payment system out and they are done. Horrible company ((
yes, this is one of those horror stories that I have been reading all over the internet. =S I'm just going to snap a lot of pics on the day of the drop-off and hope nothing bad happens.
Yeah and also say a prayer that you do not get scammed. Try to avoid Paypal if possible. User escrow.com instead or some other company. Thanks
You must keep in mind that paypal will not try to take your money away. It is the fraud people whom you may deal with can create problems for you. Hence try to work only with reputed DP members or any other members who have a verified paypal account and are having such other creditials which makes them a good and sound safe as a customer to you.
You're absolutely right. And all these horror stories are real- I know what I say as I have experienced such stories myself.
Folks, do visit Paypal and read their TOS very carefully. These people are trying to circumvent a lot of rules that are afforded to credit card transactions online and the US banking system. There is a reason why they do that. When it happens to you and you experience it, it is not a pretty thing. Paypal would be no where today, if it was not owned by eBay. Another place where there is a lot of fraud going on..see a pattern?? Not saying that Paypal does not offer a good service with their monopoly like system, however all good things have a bad side and this one has more bad than good. Anyone else have these experiences with Paypal???