| Author |
Message |
captain ron (Captain_ron)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 11:54 am: | |
I have my bus on a popular auction site and have a guy wanting to guy it right now for $3500 and pay on pay pal. how do you get your money and can the transaction be reversed by him later? just need a little info. I have an account but have never used it. |
airless in Jacksonville
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 12:03 pm: | |
Paypal is the safest method so far online for transactions. I use paypal often. You can have the money transfered from your paypal account to your checking account or in my case I have a paypal debit card and can use it like cash. |
Bryce Gaston (Busted_knuckle)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 12:09 pm: | |
Ron I don't know I've never used paypal myself, but I have friends who use it all the time! One of 'm sells cars and 4 wheelers and stuff thata sells for at least what yer talk'n about. I guess one way to do it would be to have it deposited into a small bank account that you don't keep much $ in and then when it shows up transfer it or withdraw it! I have an account I keep less than $500 in and write checks out of and if I write a big check I just add $ to it, this keeps me from worrying about fraud because the most any body will get is $500, but more likely they might get around $150 as thats what the average in it is! I always like to deal with cash, $ order, certified check, or any check with a 14 day wait before transfering when trading on ebay, or selling vehicles elsewhere! Just my thoughts! Bryce aka Busted Knuckle |
jimmci9 #2
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 12:23 pm: | |
if the guy is serious about buying it, wire transfer the money to your bank tomorrow....it may cost $30 or so.... if the guy is local, get cash...i bought some stuff on ebay, paid with paypal, then the idiot refused payment after he figured out what fees would cost him to receive the money....i'd check with paypal to see what the fees are that you'll end up paying to receive his monies.... |
Chuck Newman (Chuck_newman)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 12:40 pm: | |
Capt Ron,
My wife has an eBay store and uses many facets of PayPal as described above. As a buyer, I use it exclusively, drawing from a separate account like Bryce mentioned. Good protection and easy accounting.
Paypal will not allow a seller with a valid PayPal account to refuse payment. But beyond that, Jimmci has a valid point -- PayPal will charge you a percentage of the sale for their pocket. Just like a Visa or Mastercard merchant pays a percentage to the banks.
His mention of a wire transfer is the safest and least costly for high dollar items. The most important thing is to confirm with your bank (in writing) that the money has been deposited into your account BEFORE you turn over the bus to the buyer. If he won't do that, wait for a buyer who will, because in fact this is the normal course of high ticket sales every day.
Good luck,
Chuck Newman
Oroville, CA |
R.J.(Bob) Evans (Bobofthenorth)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 2:52 pm: | |
My bank lets me e-mail money. Dead simple & cheap - $0.75 per transaction, regardless of $$ size. I put the money into something called a Hyperwallet and then e-mail it to you. When you get the e-mail you punch in your bank info and the money goes into your account. You might want to check that out b/c it avoids the % charge that Paypal (which I have also used) will take. |
Ian Giffin (Admin)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 3:44 pm: | |
Captain Ron,
Premier and Business PayPal accounts are charged 1.9% to 2.9% (plus a few cents to cover the transaction fee) for the business to receive funds ($66.50 to $101.50). This would be free for a personal account but payment can't be made by credit card. Therefore, the buyer must have a PayPal account with the correct amount in it.
The transaction can be reversed by the buyer if he/she goes through the Resolution Center and files a claim within 45 days. Caveat: Paypal's evaluation and decision is final and binding on both parties.
Ian
www.busnut.com |
Cliff (Floridacracker)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 4:17 pm: | |
Ron,
I have bought two vehicles on Ebay.
Paypal deposit 10%, remainder in cash 90%.
I would sell the same way.
This is a deal between you and who knows, treat it as such.
Good Luck
Cliff |
Chuck Newman (Chuck_newman)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 5:25 pm: | |
Hi Jim,
I'm taking the liberty to list below your email to me, plus some additional information. I think it's important for buyers to know as much as possible before spending your hard earned bucks on anything. And this is a bus related issue because most of us use eBay/PayPal to purchase many of our bus items.
"i bought a book on ebay... paid with paypal... used a debit card to
purchase it with... paypal ackowledged payment immediately, the buyer
refused because i used a credit card???.. i think he checked his fees
and decided thay were too high for him, maybe???... i dont have the
paypal tied to any specific bank account... but use the "buy it now"
feature on ebay... and the debit card works.....and ideas or advice??? i
really dont want to open another bank account just to use
paypal....thanks jim.... (jimmci9)"
There are several issues here. As Ian stated above, but in a more general sense, an eBay seller has to pay listing fees, and a percentage of the sale price to eBay. If that seller also uses PayPal to collect payment, the seller pays an additional percentage fee to PayPal, basically to just transfer money from one account to another.
Your point above that he probably didn't realize the three fees involved, probably due to lack of experience with eBay and PayPal sales, and decided not to pay it is probably correct. As a SELLER, I don't know if he/she has the right to do that simply because when you become a PayPal Business account that is a point you agree upon. Of course, that does not mean they or we have read and fully understand ALL of the fine print in the agreement. There is lots of it and it changes on a regular basis. We can't give you a definitive yes or no on that, but I would bet an email to PayPal would clear that issue. I would be surprised if PayPal allowed that simply because the SELLER didn't want to meet their obligations. It's just plain bad business to do so. I would bet their is more to this than meets the eye, and an email to PayPay would probably show the real issue.
Ian's statement regarding the BUYER having recourse is true if the buyer did not receive the item purchased or the item was substantially different than what was offered.
Another issue is your paying with a Debit card, and the seller stating he does not take Credit Cards. A seller can accept debit account monies, or credit card account monies, or either. That is a choice they are obligated to state in their eBay listing and are supposed to abide with it. If in fact you used a debit card and the seller says you used a credit card, their is an obvious discrepency. Again, you need to communicate with PayPal on what happened. In any event, if PayPal sides with the seller on this issue for whatever reason, they have to refund your money because they authorized the transaction.
For several months, I was classified by PayPal as an "unconfirmed" buyer because, like many, I didn't want to give them my primary banking information. So I could buy from only those sellers that would accept credit cards. I have a debit card attached to my primary bank account, but never used it in any eBay purchases. So I don't know how that would have worked out, if at all. But I could (and did) open an account with a separate bank. Now my Flying J Pro Driver card is a debit card with their bank. I subsequently gave PayPal that account number and I became a PayPal "confirmed" buyer that offers more security to the SELLER, and more options for me as a BUYER. The Flying J account costs me nothing, and I preiodically transfer a little money into it from my main account to keep a few hundred dollars in there. That's my "bus money", and keeping my conversion expenses separate from our primary accounts, makes it easy for me to see how much I have spent on the bus in any month. And PayPal has listings for all purchases I've made so I can go back and see all the stuff I've purchased from day one if desired. I opened the account and make periodic transfers all online. Didn't have to go to the bank and sit and wait like in the old days.
My advice is twofold. One, communicate with PayPal regarding this particular transaction and ask them what are the sellers rights on this issue.
Two, you have to read EVERYTHING on the sellers eBay listing. If they do not specifically list that they will accept credit cards, send them an email via the listing and ask if they will accept a debit card. The two are different types of accounts. I have found that pre-sales communication eliminates many gotchyas later on.
Also, look for the box that describes transaction guarantee satisfaction from PayPal. You will only see this on sale items over a certain dollar amount -- I forget, I think it's around $300.
One additonal point: Keep in mind many sellers make additonal profit from shipping costs. I've seen so many listings of $20. shipping fees for an item that can be sent for $4. that I've lost count. And don't get caught up in a "bidding frenzy" such that you end up paying more for an item on eBay than you could have purchased from another retail site on the internet.
Experience is a great but sometimes painful trainer. But don't give up. If you're building a bus like me, you can save several thousand dollars purchasing new brand name equipment through eBay. You just have to be on guard. If it looks too good to be ture, you can bet the farm it usually is.
Chuck Newman
Oroville, CA |
Gary Stadler (Boogiethecat)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 6:18 pm: | |
Ron,
I use paypal for everything, both selling and buying.
When selling, there are fees as mentioned above, but they're not as bad as taxes or credit cards.
As far as having the trasaction reversed, if they pay you the money and you deliver the goods, there is virtually no way to get the transaction reversed.
It is a very safe system for both buyer and seller.
I would not hesitate doing your transaction via paypal.
Cheers |
jimmci9 #2
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 6:34 pm: | |
thanks chuck.... i'm confirmed with paypal... the seller said nothing about using a credit/debit card for the paypal purchase... all i know is that he refused payment.. and he is no longer listed as an ebay user...it took over a month for paypal to re-credit my card for the purchase... do i still use paypal?? yep...i will set up an older banking account to use for paypal... i like your idea of having my bus $$$ different from my other... thanks... |
Gus Causbie (Gusc)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Sunday, January 29, 2006 - 11:18 pm: | |
Chuch,
I complained to one vendor that his shipping rates were much too high compared to others with similar items. He said that he puts his items at lower prices but makes up the difference with shipping charges and that way he avoids some of the ebay and paypal fees. Sounds reasonable to me except when the bidding gets hot and high then all that theory goes out the door. |
RJ Long (Rjlong)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, January 30, 2006 - 11:05 am: | |
FWIW -
www.paypalsucks.com |
John Bessette (John_bessette)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, January 30, 2006 - 12:49 pm: | |
Palpal Is anti gun to
For that reason i would not use them.
RJ
good point.
John 4106 |
Bryce Gaston (Busted_knuckle)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, January 30, 2006 - 1:35 pm: | |
Gus I know sellers like that too and if you follow the #1 rule when using ebay it won't get you even then!
Rule #1 Know what Item is worth! Then decide the maximum $ you are willing to spend! Check to see what shipping is and subtract from total of what yer willing to pay = the most you should bid! If it goes over this amount stop bidding or pay the price! Bryce aka Busted Knuckle |
David Dulmage (Daved)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, January 30, 2006 - 1:42 pm: | |
PayPal is a tremedous step forward for completing payments for e-Bay transactions. Instead of having to go get a money order or do a wire transfer and wait for the paperwork to reach the seller, the payment is almost immediate. If I have had a problem with a vendor (such as slow shipping) and have contacted PayPal, they have responded promptly and it has helped in resolving the issue. I sold an antique boat a few years ago and accepted PayPal for that large value transaction. The PayPal fee was, in my opinion well worth it in terms of a secure and smoothly completed transaction.
FWIW
DaveD |
Craig (Ceieio)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Monday, January 30, 2006 - 7:46 pm: | |
Ron -
1) Yes, the seller can reverse the transaction later.
2) If you transfer the money to a checking account, Paypal will complete the transfer in 3 to 7 days (per their stated policy). Mine usually transfers in 3 days. They can easily pull the money back in this timeframe and later.
3) Other transfer instruments can be faster (like the debit card mentioned above), but require setup time to use. There may be a charge for using some methods (like getting a chashier's check).
I have had good luck with paypal, but have also heard the horror stories as well.
Craig - MC7 Oregon. |
Donald Lee Schwanke (Dontx)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, January 31, 2006 - 10:29 am: | |
I think your first sentence should be modified Craig. I don't think the seller can reverse the transaction later, only Paypal can do that per the sellers request when justified, I can assure you it is not easy to convince them to do it. I had them do it one time when the item was not sent, sure woke up that seller! The second time, they would not reverse the transaction, the seller had grossly misrepresented the item, did not even send all that was advertised. Paypal would not reverse it. There are some fairly inflexible rules to follow for a reversal.
I have sold many vehicles on EBay and payment by paypal, several were in the $20k range, never a problem. |
Gary Stadler (Boogiethecat)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, January 31, 2006 - 11:56 am: | |
Paypal will allow a transaction to be reversed if nothing was shipped. But even if the seller shipped you an empty box and has a receipt to prove it, you'll have a more difficult if not impossible time getting them to reverse the transaction.
In the process of reversing a payment, Paypal emails the seller and asks for his side of the story. Real humans actually review both sides of the case and make reasonable judgements before taking any action.
But at least on ebay, if you don't be stupid and only purchase from sellers with decent feedback records, the chance you'll get burned is almost zero. There's a lot better chance that the post office will lose the package!! So you should also make sure it's shipped either postal priority or via a trackable carrier like UPS or Fedx. In over 2000 ebay transactions I've only been burned once and it was 100% my own fault, and the post office has lost two items that were shipped regular mail. All of these incidents were over 4 years ago...
As far as the 3-to-7 day time period for money to clear in cases of E-checks and other non-instant transfers, Paypal tells you right on your account to not ship an item until it's cleared, and they tell you when it's cleared.
But this thread all started with talk about buying and selling busses using paypal, not shipping items. That's an entirely different story...
Buying or selling a bus would be a total piece of cake because the seller certainly isn't going to give away the title or let the buyer drive it away until paypal shows that the transaction is completed on his account screen. And there's also no questions regarding shipment, if the guy picks it up, he picks it up and there's nothing you could do to convince Paypal to reverse a transaction where someone has picked an item up personally. The seller should also get s signed statement from the buyer that he picked it up personally, if nothing else for the DMV because that is a requirement although loosely enforced, at least here in Cal.
There are horror stories with Paypal, yes, but for the most part they happened only because either the buyer or the seller wasn't playing by the very clearly stated rules. That's when you get hurt.... |
Donald Lee Schwanke (Dontx)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, January 31, 2006 - 12:02 pm: | |
My experiences exactly Gary.. |
niles steckbauer (Niles500)
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, January 31, 2006 - 3:59 pm: | |
It is important to note that when you use a "verified account" or "debit card" for ANY type of payment you are at risk - financial institutions love those type of transactions for 1 very important reason, they avoid the Federal regulations with regards to "credit cards", i.e. that when you use a "credit card" for payment and a fraud is committed your liability is limited to only the first $50.00 - not true with the other types - Also, with "credit cards", even if ebay or paypal refuses to credit you - you can contact your Credit Card Company and they will reverse the charge - HTH - Niles |
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