Accepting payment via PayPal

Discussion in 'Community Discussion' started by allisonv7, Jan 14, 2006.

  1. allisonv7 macrumors 6502

    Jul 20, 2004
    Hey all...

    I just sold my laptop on ebay and the buyer is going to pay via paypal. How long should I wait to make sure the payment is good? I've never really used it for anything of much value before and don't want to send out the item and then have the payment withdrawn.


  2. technicolor macrumors 68000


    Dec 21, 2005
    As soon as they send it the payment is good, unless they are using the e-check feature.
  3. CanadaRAM macrumors G5


    Oct 11, 2004
    On the Left Coast - Victoria BC Canada
    The payment is in your PayPal account when you check your account through PayPal and see that it is there. You can move your money out to cash or whatever, check the PayPal regulations.

    However: The PayPal buyer can lodge a complaint in the first (30 or 45 days can't remember) if the goods haven't been received, or if the goods are not as described in the auction/sale agreement. Therefore, you must take steps to protect yourself against a fraud who would take delivery and then claimm the money back because you didn't send what they paid for. PayPal can then take the money away from you -- and out of your credit card or bank account as well if you have attached an account to your PayPal account-- and give your money to the purchaser.

    When you send the goods, do a few things.

    Take a picture of the machine. Record the serial number(s). Boot the machine and take a picture of the screen running. Then send it by a shipping method has a waybill/tracking number, that ensures that a signature has to be made on delivery, and that you get a confirmation copy of that signature.

    Also, when someone signs up for a PayPal account, they can verify their address. You are within your rights to refuse payment or shipping to a non-verified address. Say the PayPal account belongs to someone in Chicago but the buyer wants it shipped to Detroit -- there's a good chance that that is a hijacked PayPal account and you will lose your machine and the money.

    Contact PayPal if you have any questions about their regulations.
  4. clayj macrumors 604


    Jan 14, 2005
    visiting from downstream
    Don't forget also that Personal accounts at PayPal are limited to $500 per month received... if the laptop you're selling costs more than that, or if the buyer uses a credit card with PayPal (as opposed to a bank draft), you will be upgraded to a Premier or Business account, which incurs a 2.9% PLUS $0.30 charge PER TRANSACTION. So, if you sell your laptop for $1000, you will lose $29.30 to PayPal as a result.

    The other stuff mentioned above is also VITAL. Cover your butt and only ship to a verified address.

Share This Page