Paypal fees query

mike1976_2

Hi,

I'm selling an item on ebay for £700.

The guy wants to collect and pay in cash and I think funny money may be involved.

If I ask this guy to pay via paypal, what fees would be incurred, for him to put £700 in his account from his bank, pay me and then for me to withdraw it into my bank account.

Looking at their site it appears to be free. Can anyone confirm?

Mike

frivolous_fay

The first rule of paypal is: NEVER accept paypal for a collection item.

You can't prove they received the item if the buyer pretends later on they didn't get it. For an amount this large, I really recommend thinking hard about this advice.

Why not just ask for a straight bank transfer? All he'll need is your sort code and account number. Nothing funny about it, no chance of it 'bouncing', once 24 hours have passed it can't be called back. ONce it has gone into your account he can come and pick up the item.

Or, for convenience's sake, accept cash, but check it very carefully. Have a friend with you so you don't get intimidated into being rushed, and unable to check the dosh properly!

mike1976_2

thanks for the reply

it's a car

i'm not sure what to look out for on dodgy money. i have heard that it is so good nowadays that it is hard to spot using those pen checkers?

frivolous_fay

To my knowledge I've never seen a dud note - the only one I suspected I showed to a bank cashier through glass at a distance of a metre, and she instantly told me it was genuine.

Things to check are:

- The silver stripe runs through the note when you hold it up to the light
- The watermark of the queen in the centre is there
- Very important - the FEEL of the note has to be right. Bank notes are made from cotton, which has a distinctive feel to it.
- The ornate text should be slightly raised - although it may be hard to check in a worn note

There are probably more things that I'm forgetting, but I couldn't find a good guide to checking notes online!

Just bear in mind that some dodgy notes *may* be slipped in amongst real ones.

What makes you think he's got funny money?