Paypal Not As Secure As You Think

frivolous_fay

yeslek wrote: »

the safest way to receive a payment is to wait until the funds are cleared and in your account.

Sorry to disagree yet again (sigh) but that's only safe if you don't mind your paypal account going into the red and dealing with debt collectors.

Besides, PP can recall a payment into your bank account (see GSP's thread which I linked further up the page)

Also, cheques can be fraudulently recalled months after they've cleared.

soolin

yeslek wrote: »

the safest way to receive a payment is to wait until the funds are cleared and in your account.

Nope, it's like fay says plus waiting for funds to clear into your bank accountt is *less* secure as you lose any seller protection you have if you don't ship within 7 days of payment.

windswept

yeslek wrote: »

the safest way to receive a payment is to wait until the funds are cleared and in your account.

I'm saying nothing!:rolleyes:
There's just no tellling some folks.

greenstreetprince

yeslek wrote: »

the safest way to receive a payment is to wait until the funds are cleared and in your account.

no its not, as soolin states, the seller protection policy doesn't cover you if you wait 7 days or more before dispatching the item(s).

paypal will take your account into the red, and will set debt collectors onto you.

that's not very safe

soolin

It is this misunderstanding of how paypal works that results in the anti paypal sites. The last time I looked through one of those sites 99.9 % of the sorry tales would have been avoided if peopl eunderstand what they were agreeing to when they chose to accept it. The most common mistake, and something I saw only today on a powersellers listing, was the statement 'I am not responsible for items lost in the post unless you ask for a quote for special delivery'.

How long I wonder before that seller gets a nasty shock and runs of whinging to an anti paypal site?

greenstreetprince

not very long soo!

not responsible? my backside!

dweezil_2

Paypal are so frustrating and misleading for Sellers
. Their T&Cs are so complex (eligible/ineligible - confirmed/unconfirmed - verified/unverified etc, etc) and lengthy for two reasons.
1. The main one is to protect Paypal - if a fraud is committed, they can point to some obscure condition you as a Seller, didn't comply with, so that you lose, not they.
2. To deliberately confuse the Seller - if all sellers announced they would not accept payments via PAypal unless buyer confirmed/transaction eligible etc, the majority of transactions on Ebay would be carried out by cheque/PO etc, Paypal would lose millions if not billions!
That is why the warning of fraudulent chargebacks is not given prominence on Ebay/Paypal.

I would advise anyone to get money out of their Paypal account ASAP after receiving it - never leave anything in their for PP to snatch if a chargeback occurs. The worst they can do then, is put your account in a negative balance, poss threaten you with Debt Collectors, but at end of the day, all you will have lost is use of your Paypal Account.
REALLY REALLY wish they had a serious competitor on Ebay.... can dream!

frivolous_fay

dweezil wrote: »

Paypal are so frustrating and misleading for Sellers
. Their T&Cs are so complex (eligible/ineligible - confirmed/unconfirmed - verified/unverified etc, etc) and lengthy for two reasons.
1. The main one is to protect Paypal - if a fraud is committed, they can point to some obscure condition you as a Seller, didn't comply with, so that you lose, not they.
2. To deliberately confuse the Seller - if all sellers announced they would not accept payments via PAypal unless buyer confirmed/transaction eligible etc, the majority of transactions on Ebay would be carried out by cheque/PO etc, Paypal would lose millions if not billions!
That is why the warning of fraudulent chargebacks is not given prominence on Ebay/Paypal.

I would advise anyone to get money out of their Paypal account ASAP after receiving it - never leave anything in their for PP to snatch if a chargeback occurs. The worst they can do then, is put your account in a negative balance, poss threaten you with Debt Collectors, but at end of the day, all you will have lost is use of your Paypal Account.REALLY REALLY wish they had a serious competitor on Ebay.... can dream!

Most of your post is correct, but they can certainly do worse than 'threaten' you with debt collectors. Debt collectors collect debt, and they don't tend to back off until you pay them. Don't forget the fees that will be added for chasing you for the money.

dweezil_2

Has anybody heard of anyone being taken to court yet for a Paypal 'debt'? I ask, because I have seen lots of threads with DCAs chasing for a while, trying to intimidate people into paying back money PP reckons they owe, but not seen one regarding a court case.

frivolous_fay

I'm sure paypalsucks has some horror stories... :rolleyes: