Paypal Question

[newb]

Ok, so Im gettin ready to sell some stuff on another forum. I dont think I understand Paypal completely. How do I verify the payment the buyer sends, so I dont transfer it to my bank account and then have my bank come back later and tell me the funds are insuficent? I see it takes about 5 days for the funds to transfer from Paypal to my account, but is there any way to verify sooner? Ive just never used Paypal before, and dont want to get burned on an $800 item cuz I had no idea what I was doin.

If I do everything I should and get ripped off, thats one thing. If I just let the guy take my parts cuz Im an idiot, thats another lol.

 

[Briansol]

it's 'real' money the second its in your paypal account. you dont need to wait to withdrawl it to verify anything.

The issue is, the buyer can claim in 30 days that he didn't receive said item, and its up to you to prove that you shipped an item to him to paypal.

ALWAYS ship insured, with tracking number, and make it delivery confirmation (they have to sign for it, or pick it up and sign for it if they aren't home[leaves a door tag, not the item]). If shit goes worng, this is what paypal will ask you to verify.

it costs a few bucks more, but its worth it.

 

[newb]

Perfect. Easy enough. Thanks a lot.

 

[GSRCRXsi]

if its through USPS, delivery confirmation does NOT have to be signed for. to ensure a signature, you have to get Signature Confirmation, which proves beyond a doubt that the person who you sent it to received it since they require ID and your signature. All delivery confirmation gets you is a tracking number, and verification that it was delivered.

 

[Dustin_m]

One more idea, if you can, use a different bank account than your main one to link to paypal. There are tons of horror stories out there about how paypal could give a shit less about the seller of an item. If you use a non-important account and an issue arises where the buyer makes a false claim and paypal sides with them, you can empty and close the account. Still a p.i.t.a., and depending on the bank they may or may not pay paypal the money then go after you, but at least they don't physically get your $$.

 

[Briansol]

waste of time. by the time you are aware of an issue, paypal already took your money.

having the tracking/etc will stop all this.

 

[TurboMirage]

B is right.

also, only sell to paypal "verified" buyers. less of a risk... but nothing is as good as a money order

 

[newb]

Alrighty, now I understand how this all works lol. Thanks everyone.