PAYPAL , IS IT REALLY YOUR PAL ? DON'T BE RIPPED OFF!

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PAYPAL , IS IT REALLY YOUR PAL? DON'T BE RIPPED OFF!

Please vote positive on this guide, I am only trying to help people!

Paypal is basically a payment system designed in favour of the buyer, as a seller you have to be extremely careful how you use it and what you do to protect yourself. When listing an item I suggest that you use a limit to offer this method, for larger payments I would personally take bank transfers but this is up to you (I use a £250 limit). The reason for this warning is what most people fall foul of, I will try to explain in detail.

Paypal is in fact a card merchant who keep peoples card and financial details (how many employees are trustworthy who have your info, ALL YOUR INFO) and allow users to 'log on' and send money to each other. The reason for the current publicity against Paypal with sites such as ( nopaypal DOT COM ) (Ebay do not allow links, type it as you see it!) is that Paypal base all their support in favour of the buyer.

I will give you some examples why....

Mr A lists an item on eBay, Mr. B buys it, Mr. B then pays for it using his credit card with Paypal, Mr. A sends it and Mr. B gets it. Mr. B then complains to Paypal that Mr. A sold him a 'duff' item. Paypal then retake the money from both parties until they both state it is resolved. If they don't agree 99.9% of the time Paypal will find in favour of the buyer and ask them to return the item for a full refund, Mr B then sends a recorded delivery letter to Mr. A claiming it was goods and Mr B gets a full refund and Mr. A is totally ripped off! All the time Paypal make millions in interest with millions of funds on hold (with 100 million accounts this is basic fact)

A seller sells items on eBay happilly building up a nice Paypal balance, then suddenly a fraudster tries to con him by sending stolen funds, all accounts no matter how honest are frozen, no matter what. It takes a minor miracle to get this resolved, I myself was involved in this by a guy trying to con me, £3000 was held in my account for 4 months, it took a solicitors letter and court threats to obtain the money back. Why not read the full info on the site I gave above.

As a buyer it is not that easy neither. When paying for an item MAKE SURE that you always put the eBay item number in as if you do not Paypal will not enter into a claim, they just say that 'we do not get involved with disputes unless the item has not been received' this again means that unless you use an eBay item number a seller can send you a pack of peas instead of the Rolex you bought, Paypal wont do a thing! Only if you use it in eBay or enter an eBay item number do you get support. This is basically unfair and should not be allowed under competition rules.

Credit cards V Echeque.. The issue with credit cards is that even if Paypal find in your favour the credit card issueing company can simply 'bounce' the payment within 6 MONTHS meaning the seller loses. Echeques once cleared cannot be stopped and Paypal will not get involved with a dispute on these, plus they only cost a fixed minimal fee to receive them (card fee is 3.4%) Echeque is almost free! 

Paypal's phone number is NOW IMPOSSIBLE to reach a human being, all routes go to an sutomated service, basically sticking their heads in the sand and awaiting it to go away.

FOR SELLERS, the way to win is to only take payments under £250, from confirmed addresses and from payments using eCheque

FOR BUYERS, the way to win is complain the day you have a problem to Paypal, only use credit cards (Paypal prompt you automatically to use a bank account) as it is no risk to them. MAke sure you always use the eBay item number and check the sellers got a high number of Paypal feedback.

ON ALL OCCASIONS treat Paypal like giving your card to a strainger on the street, they make it seem safe BUT IT IS NOT. Be as wise as you would be dealing with a total strainger (That is what most people are on eBay!) Take a good look at their eBay and Paypal feedback. If in doubt ask a fellow member or use a blog, dont risk your hard earned money or lose that special item. PAYPAL IS NOT SAFE, nor is any sale to a strainger, as a company Paypal have the right idea but for them to make people feel totally safe is wrong, VERY WRONG.

Have fun everyone and stay safe, if in doubt ask!

Please vote positive on this guide, I am only trying to help people!

The more votes I get the more this is displayed!

Thnaks for reading,

KATANKAT

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