Using Pay Pal

[oldredford]

Not related to Model A unless you do a lot of selling with Ebay. Pay Pal sucks!
I will never use that money transfer system again. Pay Pal = Rip Off.

The holding of the funds in this legit transaction for 1 month is unacceptable. Pay Pal can e-verify both parties. Nope, nothing doing. There is one Model A vendor that refuses Pay Pal payment. I am not a vendor but this is the last time for me.

Update....Pay Pal transferred the funds into my bank account. Not the 1 month as Pay Pal first said. Lesson learned.

[Oldbluoval]

Sure nuff! But is very expeditious .
Pricy

[Joe K]

I have had good luck buying things from a seller here using PP. He warned me about making sure to identify the transfer as a "gift" - which avoids the PP overhead - otherwise he would have to charge an additional percentage (what is it now?) to cover the PP charge for him.

Of course gifts don't carry the PP "protections" - so you kind of have to trust your seller.

I know Barnstuff for over 40 years - so I don't worry about him.

Joe K

[oldredford]

Pay Pal maybe expeditious to some but listen to this. I sold over 1k on ebay and was paid by the buyer thru pay pal. Pay pal is holding onto this money in their account for 1 month to make sure everything is on the square. This is an interest free loan to pay pal. They are making a killing on this. Sucks and I won't use pay pal no more....Plus the FEES. Pay Pal = Rip Off. IMO

[ronn]

Pay Pal maybe expeditious to some but listen to this. I sold over 1k on ebay and was paid by the buyer thru pay pal. Pay pal is holding onto this money in their account for 1 month to make sure everything is on the square. This is an interest free loan to pay pal. They are making a killing on this. Sucks and I won't use pay pal no more....Plus the FEES. Pay Pal = Rip Off. IMO

ditto! why I dont accept ppl ever...........................!

[mike657894]

Sponsored Links (Register now to hide all advertisements)

im much less angry about their interest they get on their holding and more on the percentage of my sale they gobble up.

[WHN]

I will not waste my time or yours telling everyone my problems with PayPal. Don't use.

[wrndln]

I have had good luck paying people and getting paid via PayPal for parts I buy and sell on my own - not eBay purchases. If you use the "Send to friends and family in the US" payment option with money to or from a bank account, it is totally free to both the seller and buyer. If you use a credit card as the source of the funds, PayPal charges a fee (about 3+%) to cover the credit card companies fees. This form of payment is safe and very fast. I can't see any down side in using PayPal for small to medium payments for items, as it is free.
Rusty Nelson

[ronn]

yes Rusty- free wo insurance

you better know who you are dealing with-because you are NOT covered if they rip you off.

[holdover]

Paypal is a tool. There is a fee for using it just as in using a CC. On EBAY I have had two purchases with out the item being sent, Paypal returned my money. As a buyer I like the fact that I do not have to give a CC #. It seems every few months one of my cards gets hacked and I have to go through the process of cancelling and getting a new one, and placing a fraud claim. Many of the people on the barn just have me send a check which is great. When I use Paypal for an off ebay purchase I add 3% to cover the fees. They are in the business of making money and to me are a convenience.

[foxfire42]

I wonder how long the "Friends and Family" option will be available. PP is greedy and this is another source of $$ they could tap. Maybe a flat fee rather than %. Time will tell.

[joel rapose]

I love Paypal... I operate a small mail order business and sell antique motorcycle parts...some of which are quite expensive...so getting an $800 bad check could really hurt... I figure that using any sort of credit card will cost me at least 3% so if I use Paypal and pay 3.5 or 4% it is just the cost of business...I pay it out of my profit ...it is instant and very trustworthy... I really could care less what they use the money for..that is just business...good for them.. Over the years I have probably sold $30k using Paypal and never had a problem...now checks are a different story..

[Oldbluoval]

The times I have used "gift" and "F&F", the recipient gets the full amount but I got charged a fee. Somebody tells me where somebody doesn't pay "something"!!

[joel rapose]

I also NEVER use Friends and Family....It is not honest...and it is a lie...no matter what, it is still a lie...and for 3 or 4% I won't be a part of it... not thrilled with folks that do that either...it is just wrong to lie. Little ones make big ones.

[wrndln]

Joel,
When someone want to pay me for parts I sell with a check as payment, after I receive the check for the parts I am selling, I wait until it clears the federal reserve (maybe 5 days) before sending the part to the buyer. I tell the buyer if he want to send me a check for payment instead of using PayPal, I will hold the part(s) until the check clears. I normally sell parts that are much less than $200, so it is not like the $800 check you mentioned if the check bounces. So far this has worked very well for me, but there is always a chance of a scam.

BTW, PayPal DOESN'T charge 3 or 4% for friend and family if a bank account is used. It charges nothing, as I have done many F&F payments and received many payment using F&F.
Rusty Nelson

[BRENT in 10-uh-C]

Originally Posted by Oldbluoval

The times I have used "gift" and "F&F", the recipient gets the full amount but I got charged a fee. Somebody tells me where somebody doesn't pay "something"!!

Bill, what happened in your scenario is PayPal used your CC instead of debiting out of a bank account to pay the person. If the money is debited straight from a bank account and sent as a F&F transaction, then there is not a fee to the sender or the recipient. I too made that mistake a time or two.


PayPal is great if you understand what it protects you from. There is generally a 'premium' added for anything in life that creates a convenience. PayPal is very clear on how they operate and what their policies are, ...and it is plainly written in their terms & agreement section. Folks generally are supposed to check they have read the Terms & Agreements before they can proceed with an account, so is there really any valid reason to complain about how they operate? If someone does not want their money tied up, then there are other ways to transfer funds.

Something to always remember is FRAUD is rampant everywhere. I would venture a guess the reason why PayPal has their "hold on releasing funds" policy is because in the past they have likely been burned where they are unwilling to take a chance any longer.

[joel rapose]

Brent you hit it in the head....thanks... Paypal is in business to make money...just like any bank does... no different... I always download my account to my bank once loot is over a thousand... I don't like to have too much money hanging out there... not sure my bank is any more trustworthy ....but at least it is not online.

[Jim Mason]

CC take roughly 6% of the sale from the seller. the seller buries the fee in the price. if you get a smart manager you can offer to pay cash for a 3% discount or put it once the card, and the manager will take the cash. PayPal is similar but the seller can't bury the fee. is 3% to much to pay to not be defrauded, run the auction, have national (International?) advertising, etc. Etc.?

[TerryH]

I have used PayPal for many years, buying collectibles from all over the world. Prior to PayPal, I had to go to the bank and get a draft, then mail it.....a serious, time consuming hassle. I have never had a single issue using PayPal, but like anything, you also need to know who you are dealing with.

[pat59]

I use PayPal often. No problems with it at all.
Pat