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Question on selling iPhone 3G - PAYPAL related

S

SephirothXR

macrumors 6502
Original poster
Nov 27, 2008
395
0
I couldn't think of anywhere to ask this as I'm sure a lot of people here had to use Paypal recently to sell their iPhones.

I just linked my bank account to my Paypal account, and Paypal will confirm my account when I tell them the exact amount that they deposit in my account in the next 2 days. When this happens and both accounts are linked, how exactly do I transfer money from PayPal to my bank account? Is it a simple process? One buyer is willing to pay me now but I've never had a transaction with PayPal before. When he sends money to my account (I give him my email address which is the account ID for my paypal account), that money is on my Paypal account and then I just click one button to have it in my bank account instantly?
 
If you ever get a email saying something like "I am out of town, but I want to pay you asap using paypal, can you give me your paypal account number?" or something close to that, watch out. It is a well known scam. (Especially on craigslist.) They will over pay you at first, and ask you to send the difference. Once you do, they will cancel your payment and you are out of money.
 
Also not to sound rude but Paypal does have a help section and i found this in under a minute

To withdraw funds to your bank account:

1. Log in to your account.
2. Click the My Account tab.
3. Click Withdraw at the top of the page.
4. Click the Withdraw funds to your bank account link.
5. Enter the requested information and click Continue.
6. Click Submit.

https://www.paypal.com/helpcenter/m...ps=solutionPanels&solutionId=58782&isSrch=Yes
 
Akira1980 said:
If you ever get a email saying something like "I am out of town, but I want to pay you asap using paypal, can you give me your paypal account number?" or something close to that, watch out. It is a well known scam. (Especially on craigslist.) They will over pay you at first, and ask you to send the difference. Once you do, they will cancel your payment and you are out of money.
Click to expand...

This was his email, VERY SIMILAR to your description. So you're saying that when I send him the phone, he can just cancel his payment? I mean once he pays me ($400 in Paypal and $0 in Bank) and I put it into the bank account ( so that I have $0 in PayPal and $400 in bank), he can still cancel? I will only send him the package when I get the money in my bank account. But wow if this is the case thank you so much, I figured something was suspicious when he offered $100 shipping and handling as I know that shipping costs are generally not that high. But yea how again can he cancel his payment when it's already in my bank account?
I'm interested in buying this item for my boy as a promised gift and
he is currently out of town for a project as it's his first time
traveling out of town.Since we're not going to be together this year,I
thought I should be getting him something nice. I will be paying you
for this transaction via my Paypal account,kindly get back to me with
your paypal email address as for me to transfer the money ASAP.I
would have prefer it if you can ship the package to me while I
personally send it to him but am presently in (Newzealand) and am
very much ready to pay for shipping charges.I will add an extra
$100.00 to cover the shipping&handling charges via USPS Priority
Mail.I will appreciate it a lot if you can kindly help me wrap the
package very well so that it will get to him as a mode of a gift . I
want your honesty in return to my faithfulness to you during this
transaction.Your immediate response is really appreciated.
 
SephirothXR said:
I couldn't think of anywhere to ask this as I'm sure a lot of people here had to use Paypal recently to sell their iPhones.

I just linked my bank account to my Paypal account, and Paypal will confirm my account when I tell them the exact amount that they deposit in my account in the next 2 days. When this happens and both accounts are linked, how exactly do I transfer money from PayPal to my bank account? Is it a simple process? One buyer is willing to pay me now but I've never had a transaction with PayPal before. When he sends money to my account (I give him my email address which is the account ID for my paypal account), that money is on my Paypal account and then I just click one button to have it in my bank account instantly?
Click to expand...

The transfer to your bank account is in no way instant, and can take up to 5 days. The way I work around this is to get the PayPal Debit Card and just use that to make purchases. The Debit card is the only way to get instant access to your funds.. Also be aware that for certain transactions PayPal holds the funds.. I'm not sure on the details as they have never held my funds before (I'm a longtime user) but people I work with are always talking about it.

Oh, nevermind it is a scam, I see your copy of the email he sent you..
 
SephirothXR said:
I couldn't think of anywhere to ask this as I'm sure a lot of people here had to use Paypal recently to sell their iPhones.

I just linked my bank account to my Paypal account, and Paypal will confirm my account when I tell them the exact amount that they deposit in my account in the next 2 days. When this happens and both accounts are linked, how exactly do I transfer money from PayPal to my bank account? Is it a simple process? One buyer is willing to pay me now but I've never had a transaction with PayPal before. When he sends money to my account (I give him my email address which is the account ID for my paypal account), that money is on my Paypal account and then I just click one button to have it in my bank account instantly?
Click to expand...


Lol, whenever you read one of those and it seems like a 5 year old wrote it, its a scam
 
Maclver said:
That Is A Scam... Do Not Respond Or Send Your Product Or Give Any Personal Info
Click to expand...
I want to say I feel really stupid right now even though I put "CASH ONLY" on my ad, but again how can he scam you if he gives you $400 (assuming he does this), and then you put it into your bank account (to the point where you can get cash), AND THEN send him the product? Obviously I'm missing something where he sends you $400 and it stays in your PayPal account since apparently this is a common scam, I'll just have to stay local for sure now. I knew I would eventually learn about all this but I guess lesson learned, local cash only. Thanks guys.
 
He's using a stolen credit card to pay PayPal. Once it hits fraud with the Credit Card Company, they take the money from paypal, and then paypal takes the money from you.
 
jungle311 said:
He's using a stolen credit card to pay PayPal. Once it hits fraud with the Credit Card Company, they take the money from paypal, and then paypal takes the money from you.
Click to expand...

I see. Good thing I was only going to send it to him (that is if I did respond to his email) until I had the money in my BANK account. But what if I've already taken the money from PayPal? Does the credit card company find a way to get access to your bank account and take it via PayPal?
 
No not the CC company, they only have access to paypal. But remember you linked your Bank account to Paypal, giving paypal the right to take fradulent funds back out of your bank account, and they will even though you might not have any money in there. Then you go into overdraft, your bank comes after you... It gets really bad..

If you are going to sell use ebay, block bidders from out of the country, have low scores, must have a paypal account, alll the blocks you can..

When you do have a winner/buyer they pay via paypal, and you follow the instructions for shipping under the seller protection plan. Then you are protected even if the buyer is a fraud.
 
jungle311 said:
No not the CC company, they only have access to paypal. But remember you linked your Bank account to Paypal, giving paypal the right to take fradulent funds back out of your bank account, and they will even though you might not have any money in there. Then you go into overdraft, your bank comes after you... It gets really bad..

If you are going to sell use ebay, block bidders from out of the country, have low scores, must have a paypal account, alll the blocks you can..

When you do have a winner/buyer they pay via paypal, and you follow the instructions for shipping under the seller protection plan. Then you are protected even if the buyer is a fraud.
Click to expand...

I'm doing this via craigslist, Ebay might be a bit too complicated with all the fees they give you and whatnot. I just took my bank account off of PayPal just now, I don't want all that trouble, I'm just going to be doing LOCAL cash only. I have 5 other people (at least I'm hoping they're real, lol) that I'm waiting on for responses, I'm also offering a case now so hopefully I'll sell it soon and get a 3GS soon. But still just wanted to say thanks to everyone here who told me about this scam, I'm still relatively new to all this and I knew I would eventually learn all the little tips and things these companies can do to you but at least I know some of the major ones now so thanks a lot.
 
im getting tired of Paypal and Ebay because everytime i go to sell something I always get this same email.. you would think ebay and paypal would figure a way to keep these people out
 
Massive Scam

SephirothXR said:
This was his email, VERY SIMILAR to your description. So you're saying that when I send him the phone, he can just cancel his payment? I mean once he pays me ($400 in Paypal and $0 in Bank) and I put it into the bank account ( so that I have $0 in PayPal and $400 in bank), he can still cancel? I will only send him the package when I get the money in my bank account. But wow if this is the case thank you so much, I figured something was suspicious when he offered $100 shipping and handling as I know that shipping costs are generally not that high. But yea how again can he cancel his payment when it's already in my bank account?
I'm interested in buying this item for my boy as a promised gift and
he is currently out of town for a project as it's his first time
traveling out of town.Since we're not going to be together this year,I
thought I should be getting him something nice. I will be paying you
for this transaction via my Paypal account,kindly get back to me with
your paypal email address as for me to transfer the money ASAP.I
would have prefer it if you can ship the package to me while I
personally send it to him but am presently in (Newzealand) and am
very much ready to pay for shipping charges.I will add an extra
$100.00 to cover the shipping&handling charges via USPS Priority
Mail.I will appreciate it a lot if you can kindly help me wrap the
package very well so that it will get to him as a mode of a gift . I
want your honesty in return to my faithfulness to you during this
transaction.Your immediate response is really appreciated.
Click to expand...

This is a SCAM. When they don't even try to qualify you and they want to send you the money to your paypal, it's a dead giveaway.

These scammers use stolen credit cards to make the payment. Then later you get contacted that the deal was fraudulent and you must return the stolen funds.

This happens even months later.

I sold mine on Craigslist. Of a dozen contacts, THREE WERE SCAMS.
One guy even yesterday asked for my paypal to send the money. The ad has been withdrawn three days ago. And yet they are dying to literally throw the money at you.

Without even any knowledge of you. Zero. What does that say.

You have to make them send you a confirmed paypal id/address first. And only agree to work with a confirmed paypal address.

When I asked for this, one scammer ignored it and came back a day later asking again for my paypal to send the money. Thought I would be eager and get on the hook. I didn't.

ANY STORY, any story about third parties and sending something to an unconfirmed paypal address is a SCAM.

It's not the funds don't clear. They do. It's that paypal will come back and yank it right out of your bank account(s).
 
I don't think I"m going to work with Ebay or PayPal for a while, now all I can hope is that I don't experience some problem locally, as in some violent guy, and health is a lot more important than money or materials. I'm going to meet up with him/her in a public place like an AT&T store, and most likely it'll go smoothly, but it's good to learn about the dangers of online scams with Ebay and PayPal and how PayPal can take your money if it's fake money. Now all I have to do is wait for these local people (seem local by the questions they asked) and hopefully I'll have an iPhone 3GS like the rest of you guys soon :D
 
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