Paypal, how does it work.

[POINTER94]

Got some stuff laying around that I want to unload so I thought I would throw it out on ebay. I want to use the paypal option and I have a paypal account but have only used it for paying for thing I purchased.

Is there anything I have to do to have people pay me with paypal? The instructions are very vague.

Thanks

 

[Bob_VT]

Re: Paypal, how does it work.

They send money from their paypal account to yours identified by your e-mail.

Paypal has a big shrink fee. If it is only a few items for ebay I would suggest US Postal Money orders (do NOT accept any others) and you save on the fees.

I use my paypal daily and even pay my shipping postage through it. The fees are high but I am running two seperate e-bay accounts (2 pay pal accounts and way to many passwords).

Be sure your paypal password is unique and only for paypal. (just for safety). You can tie it to your bank account and Paypal will send the money to your bank (on request and it takes 3-4 days).

Bewtween ebay fees, paypal fees and increased shipping costs it can get frustrating.

Bob

 

[ZmOz]

Re: Paypal, how does it work.

If it is only a few items for ebay I would suggest US Postal Money orders (do NOT accept any others) and you save on the fees.

I agree. PayPal is too much of a risk, hassle, and cost for just a few things. You might think that accepting only money orders will hurt your final bid price, but usually it doesn't. Most people are too stupid to read the payment details before bidding. I don't accept paypal for anything over $75 anymore, because I'm tired of getting screwed. People still make ridiculously high bids on the old crap I sell...

 

[POINTER94]

Re: Paypal, how does it work.

Thanks guys,

I got a half a dozen electronic items, and software items that I bought by mistake. I think I will go with the money order idea. Is there something specific about USPS money orders or should any old money order do? This shouldn't be an ongoing thing for me. I just don't have enough stuff to sell.:'(

BTW what is a shrink fee?

 

[Kenneth Brown]

Re: Paypal, how does it work.

USPS money orders are accepted anywhere, whereas most banl mo's are not. Shrink is the fee's they collect. It is called that because your profit shrinks.

 

[Bob_VT]

Re: Paypal, how does it work.

There are millions of counterfiet money orders out there. The USPS ones are printed with the same care as our currancy and have safeguards built in. The local banks around here will not even accept a strange money order. The USPS seem to be the lessor of all evils.

500 is my accepted paypal limit due to the fees. I also have alot of safeguards built in to my ebay.

The shrink fee is what paypal collects to pass on money. You have listing fees with ebay, final value fees with ebay and they take a small percentage (about 6%) Paypal takes about 5% more. If you pay me 500 via paypal I get 482 after the fees. It's just about 5 %.

 

[ZmOz]

Re: Paypal, how does it work.

Paypal takes about 5% more. If you pay me 500 via paypal I get 482 after the fees. It's just about 5 %.

Normal PayPal fees are 2.9% + 30 cents per transaction. Mine is even less because I qualify for the merchant rate.

 

[Dunaruna]

Re: Paypal, how does it work.

[colour=blue]I use a bank account that I setup just for e-bay use. I only accept direct bank deposit - never had any problems and it's free of fees.

 

[JB]

Re: Paypal, how does it work.

PayPal is more secure than checks or money orders.

Go to the site and read about security.

Just put in your listing that you accept PayPal only.

 

[ZmOz]

Re: Paypal, how does it work.

PayPal is more secure than checks or money orders.

Go to the site and read about security.

Just put in your listing that you accept PayPal only.

That couldn't be further from the truth. PayPal's protection is laughable at best. I have lost hundreds and hundreds of dollars due to unscrupulous sellers and down right stupid buyers. PayPal has numerous lawsuits pending at all times and they often lose them. NEVER, under any circumstances should somebody put money in a paypal account that they can't afford to lose. NEVER!

See more at http://www.paypalsucks.com/

The only secure way to do business is with good old dead presidents face to face. Even then you'll get ripped off eventually...

 

[roscoe]

Re: Paypal, how does it work.

ZmOz, Please tell us how you lost hundreds and hundreds of dollars with paypal, as both a seller and a buyer.

I would really like to know more, so I can make an informed decision.

 

[ZmOz]

Re: Paypal, how does it work.

ZmOz, Please tell us how you lost hundreds and hundreds of dollars with paypal, as both a seller and a buyer.

I would really like to know more, so I can make an informed decision.

It would take me all night to type the details, but as a buyer I have bought many things that the seller had no intention of ever sending. Each time I lost between $110 and $400. Every time but one PayPal didn't recover a cent for me. The one time they did provide a refund, it was $1.72 out of $110 I paid. This was all that was left in the sellers account, and they can't ever refund more than that. If somebody wants to rip you off, all they have to do is withdraw the money from their paypal account and it's gone forever.

As a seller, I've also lost hundreds of dollars from people using hacked paypal accounts, stolen credit cards, and morons. Once I sold about $150 worth of computer parts and shipped immediately. The buyer later claimed they never received their package, and complained to PayPal and their credit card company. As usual, paypal didn't do much, but the CC company did reverse the transaction. (because they actually care about their customers) Since paypal would never take a loss like that, they also took the money from my account. A few days later the buyer emailed me and said "sorry, it's been here all along, I just didn't see it". I never got the money back. PayPal even had the gall to charge me an additional $10 fee for the credit card chargeback.

These are just a few examples.

The bottom line:
If your seller wants to steal your money, they will.
If the buyer wants to steal your money, they will.
If you ask PayPal for help, they will crap on your shoes and then spit in your face.

As a seller, you can't go wrong with USPS money orders. Once you have the cash nobody can ever take it back.

I can happily report that several of the people who have ripped me off are now rotting in a federal prison.8)

 

[POINTER94]

Re: Paypal, how does it work.

Thanks for the feedback everyone. I managed to craft an ad and I have it scheduled for tommorrow.

Sorry to hear about your losses ZM.