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Sending Big amount via Paypal ? Is it Safe ?

Discussion in 'PayPal' started by supercostsaver, Jun 13, 2009.

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  1. #1
    I've a 2 yr old Paypal premiere account and I want to send someone a big amount and was thinking is it even safe to send via paypal ? Should I ask him to send me invoice or somethin ? Will Paypal limit my account or something like tht ? But there is no need for invoice. Any suggestions please
     
    supercostsaver, Jun 13, 2009 IP
  2. deluxdon

    deluxdon Catch Me If You Can...!!!™ Staff

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    #2
    Can you tell us how much you consider as big amount ?

    BTW there is no need to worry about that if sender and receiver both are genuine IMO.

    DON.
     
    deluxdon, Jun 13, 2009 IP
  3. Feizar

    Feizar Prominent Member

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    #3
    how much big is the amount ?? I have heard that escrow is useful in handling big payments
     
    Feizar, Jun 13, 2009 IP
  4. mentos

    mentos Prominent Member

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    #4
    Its okay as long as the transaction is backup by a real transaction.
    I constantly sent and receiving more than $5000++/day using my company PP account without any problem.
     
    mentos, Jun 13, 2009 IP
  5. Moses8595

    Moses8595 Peon

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    #5
    No problem..It's safe.....dont worry
     
    Moses8595, Jun 13, 2009 IP
  6. Hazen3

    Hazen3 Member

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    #6
    I heard if you send more than $2500 they would freeze your account! I've never tried it before though
     
    Hazen3, Jun 13, 2009 IP
  7. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #7
    If you have everything correct and valid in paypal like your name, address and credit card then why are you worrying?
    Even if they limit it you can resolve it within 1 hour. :) SO, don't worry and send any amount you want to send.

    - Digital -
     
    Digital_shubhi, Jun 13, 2009 IP
  8. kaiser-so-say

    kaiser-so-say Peon

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    #8
    Recently a huge number of paypal account have started to be limited.... The usual cause is a large payment being sent to your account.

    If they lock it, YOU lose it, Simple as that.

    Everyone thinks it wont happen to them... lol...

    PAYPAL IS UNSAFE FOR SELLERS
     
    kaiser-so-say, Jun 13, 2009 IP
  9. kaiser-so-say

    kaiser-so-say Peon

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    #9
    YOU MUST BE INSANE.

    IF YOU SEND OR RECEIVE OVER $1000 IN A WEEK THROUGH PAYPAL YOUR ACCOUNT WILL DEFINATELY BE FLAGGED.

    Once you get limitations you money will be locked indefinately... and there will be very little you can do about it.
     
    kaiser-so-say, Jun 13, 2009 IP
  10. Nonny

    Nonny Notable Member

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    #10
    Many businesses use Paypal for thousands of dollars a week in transactions. As long as you are using a verified business/premier account, aren't getting a lot of disputed payments, and can substantiate your business transactions, that should be fine.
     
    Nonny, Jun 13, 2009 IP
  11. Whippet75

    Whippet75 Well-Known Member

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    #11
    Agree with Nonny ;)
     
    Whippet75, Jun 13, 2009 IP
  12. ceemage

    ceemage Well-Known Member

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    #12
    In some ways, it doesn't matter what the actual cash amount is - if it's "big" to you, that's what matters. Depending on the exact circumstances, I would definitely consider using an escrow service rather than just a one-off Paypal transfer. If your seller doesn't want to split the escrow fee with you, volunteer to pay the cost of this all yourself. If they're still not keen on escrow, maybe it's because they were planning to rip you off?
     
    ceemage, Jun 13, 2009 IP
  13. lifeplayer

    lifeplayer Notable Member

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    #13
    verified business/premier account is fine for the big transaction. It only problem if it is unverified or personal account
     
    lifeplayer, Jun 13, 2009 IP
  14. RightMan

    RightMan Notable Member

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    #14
    If you are suddenly going to be dealing with big money, Paypal might initially get suspicious but that is no reason to worry as long as your identity is real and you have documents to back it up.

    Regards,

    RightMan
     
    RightMan, Jun 13, 2009 IP
  15. woja

    woja Well-Known Member

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    #15
    IMO if you upgrade your account to Premier or business you shouldn't have a problem. I recently received a $530 payment through PP without a glitch since we were both verified.
    Again, it's a question of what you consider to be a large sum.
     
    woja, Jun 14, 2009 IP
  16. narci

    narci Peon

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    #16
    Its okay mate, Although I am not recieving big money in paypal but of course. Its safe. Surely.
     
    narci, Jun 14, 2009 IP
  17. Grit.

    Grit. Well-Known Member

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    #17
    As stated, there are initally limitations on how much you can send an recieve, whether you're verified or not, before paypal ask for more details on the transactions you make, once you hit the limit, they will request more information on your business dealings.
     
    Grit., Jun 14, 2009 IP
  18. Yukinara

    Yukinara Peon

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    #18
    Paypal is not the only option out there, but it's still safe if you want to send large amount of money
    or wire transfer
     
    Yukinara, Jun 14, 2009 IP
  19. Rajinder2009

    Rajinder2009 Greenhorn

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    #19
    The first question you should ask yourself is whether the receiver can be trusted. Afterwards, I'd say No, there are no technical barriers whatsoever when it comes to sending thousands through PayPal.
    Only if the accounts in question have never sent/received $2500 in total before.
    I also send thousands a day through PayPal and nothing ever happened. Biggest transaction was almost $60.000 during which I almost suspected them to phone me or something but nothing happened at all. Business as usual.
     
    Rajinder2009, Jun 14, 2009 IP