Receiving payment via PayPal

[YS2003]

I have started using Paypal for paying some web merchants for their products. I am going to be on the flip side. I am selling some items on Craiglist and a buyer wants to pay me via PayPal. Is PayPal secure? I am a newbie on PayPal. Can I move money from my PalPal account to my actual bank account? My PalPal and the checking account are already connected.

 

[r.j.s]

In my experience, PayPal has been secure. I have been using it for 6 years with no issues. And, yes, you can move money from PayPal to your bank account. It does take a few days.

 

[YS2003]

In my experience, PayPal has been secure. I have been using it for 6 years with no issues. And, yes, you can move money from PayPal to your bank account. It does take a few days.

Super. Well, I have a potential buyer who is going to pay more than I advertised, as long as I accept the payment via Paypal. Is there something I should be aware for the Paypal transaction?

 

[Acorn]

the biggest problem with paypal is the buyer can go back after he has made a payment and take the money back later. so you could give him the item, check online that you indeed recieved a payment then the money be pulled by the time you get home.

one way around this for sellers is to not ship the item until the money is transfered from paypal to your bank account. paypal cant just take money from your bank without your approval.

lastly, There is a scam involving paypal where the buyer sends you a fake "funds recieved" duplicated paypal message when no money has acually been sent. A way to check this is you must physically log in to paypal to make sure the money is there.

 

[YS2003]

the biggest problem with paypal is the buyer can go back after he has made a payment and take the money back later. so you could give him the item, check online that you indeed recieved a payment then the money be pulled by the time you get home.

one way around this for sellers is to not ship the item until the money is transfered from paypal to your bank account. paypal cant just take money from your bank without your approval.

lastly, There is a scam involving paypal where the buyer sends you a fake "funds recieved" duplicated paypal message when no money has acually been sent. A way to check this is you must physically log in to paypal to make sure the money is there.

I started reading up something about the credit card chargeback. Is there a way to see the payment was done via the buyer's checking account or credit card?

When I send my payment to my merchants, I send my money from Checking account via Paypal. I want my buyer to do the same. But, I am not sure how I know if the payment is via the checking account or the credit card.

 

[r.j.s]

lastly, There is a scam involving paypal where the buyer sends you a fake "funds recieved" duplicated paypal message when no money has acually been sent. A way to check this is you must physically log in to paypal to make sure the money is there.

I have never actually seen that, but I do always check my account after I get the email ... it just seems like common sense to me.

 

[NathanCH]

http://www.paypalsucks.com Tons of horror stories. Be careful who you deal with.

 

[timerollson]

Super. Well, I have a potential buyer who is going to pay more than I advertised, as long as I accept the payment via Paypal. Is there something I should be aware for the Paypal transaction?

Scam.

 

[r.j.s]

Scam.

Wooah, I completely missed that part ... I'd be wary of anyone willing to pay more than advertised.

 

[nhcowboy1]

I'm a little confused . . . Craigslist transactions are ordinarily face-to-face transactions. Buyer hands seller cash, and seller hands buyer the item being sold. So what's going on here - are you shipping the item? Or does the buyer want to send you a PayPal payment and then pick up the item in person?

Either way, I'd say not to do it. If the buyer is close by, then you should insist on cash. If he's not, then you should find a different buyer.

 

[emt1]

If he wants to pay more than advertised, I'd be highly suspicious.

 

[Jhanson09]

If he wants to pay more than advertised, I'd be highly suspicious.

never ever take paypal payments unless done through ebay. Craig's list should be for cash ONLY transcations.

 

[Signal-11]

I have started using Paypal for paying some web merchants for their products. I am going to be on the flip side. I am selling some items on Craiglist and a buyer wants to pay me via PayPal. Is PayPal secure? I am a newbie on PayPal. Can I move money from my PalPal account to my actual bank account? My PalPal and the checking account are already connected.

You're being scammed.