Safe Big Payments in PayPal

Discussion in 'PayPal' started by Static, Sep 3, 2007.

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  1. #1
    Just want to get some of your inputs on this. We all know that PayPal can screw up from time to time and hurt those innocent traders who are honest. However, as there are misfortunes, let's share ideas.

    What do you think is the best way to prevent chargebacks via PayPal?
    What precautions must you take when dealing with XXX amount of money in PayPal?

    Just some ideas. You can ask questions yourselves for an answer. :)

    Thanks!
     
    Static, Sep 3, 2007 IP
  2. Phantom-DXH

    Phantom-DXH Peon

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    #2
    Make sure your trading with someone whos' Paypal account is verified. I've not used paypal in some time so am not too sure if thats a must have now.
     
    Phantom-DXH, Sep 3, 2007 IP
  3. magicfire

    magicfire Active Member

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    #3
    I think you should do maximum $300 per transaction and keep fund in balance about 4-7 days (holding time, it depends on your partner).

    Then please withdraw or use it asap. You will decrease your risk at minimum as you can.

    Thats all my exp of using paypal. Anyone have any other idea/exp?
     
    magicfire, Sep 3, 2007 IP
  4. apex1970

    apex1970 Peon

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    #4
    The best way to prevent chargeback is using other payment processor :)
     
    apex1970, Sep 3, 2007 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    Make sure that you do everything according to the book like have proper documentations such as invoices and physical proof of delivery. Do not deal with virtual products as they are not protected. It would be best to use the Buy Now button or the Email Invoice feature when billing people. The Email Pay method which most people use is not appropriate for sales.
     
    eddy2099, Sep 3, 2007 IP
  6. wyattt

    wyattt Active Member

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    #6
    I'd go with Escrow instead of Paypal for big purchases.
     
    wyattt, Sep 3, 2007 IP
  7. mafostedu

    mafostedu Peon

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    #7
    mafostedu, Sep 4, 2007 IP
  8. solideuk

    solideuk Well-Known Member

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    #8
    With big transactions I would suggest a 'holding time' if that isn't possible then the best option would be to withdraw the amount as soon as possible.

    I have been hit with chargebacks even from customers with verified accounts, the only other option would be to use a payment processor which shields sellers as much as possible from chargebacks. I am currently considering moving completely over to Moneybookers or Google Checkout, I am even considering removing the Paypal option all together.

    Accepting large amount of payment into a Paypal account is risky, especially if the client/customer is one whom you have not dealt with before.
     
    solideuk, Sep 4, 2007 IP
  9. marcel

    marcel Well-Known Member

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    #9
    use wire transfers...
     
    marcel, Sep 4, 2007 IP
  10. usmcpv

    usmcpv Peon

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    #10
    Using paypal for large transactions is too much of risk. Get a merchant account if you will be processing large transactions. They are more secure and have far lower rates and fees than paypal. Would you like me to set you up with one for free?
     
    usmcpv, Sep 4, 2007 IP