| From: badgerman
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| Date: 21-Jan-17 |
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I'm in the process of selling a bow. Buyer preferred to go through Paypal. I registered as a first time user and was accepted. The buyer submitted the money and is being held by Paypal and will transfer it to my bank account in 21 days since I am a new subscriber. My question is would it be wise to ship the bow to the buyer, even though the funds are still being held by Paypal I have talked to the buyer on the phone and trust him as being legit. After he receives the bow can he stop the payment from Paypal? I'm new to the Paypal thing but can see its value in selling with all the scammers lurking on the sidelines. Joel
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| From: JustSomeDude
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| Date: 21-Jan-17 |
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The buyer can open a dispute that can freeze the money. If you had already withdrawn the money from your PayPal account, it pull from your attached bank account.
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| From: Chas
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| Date: 21-Jan-17 |
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Joel, I've used PP quite a bit and don't recall there being a 21 day wait when I started. Some transactions you will need to go in and "accept" the transfer. That said, my theory is if you've done your due diligents and the buyer is someone on here regularly and you have their name and phone number (call him or her to confirm) then I would ship. After all, they trusted you before receiving goods..but I'm somewhat of a "trusting soul". Your call.. ps..not sure if they can "stop payment" once received. I'd contact PP for the answer. Chas
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| From: 2 bears
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| Date: 21-Jan-17 |
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No advantage to holding up shipment. If there is a dispute Pay Pal will get your money as JustSomeDude said. You can even leave the money in the Pay Pal account to purchase with rather than them drawing on your bank. Pay Pal is the safest way for both parties. To me the cost is worth the piece of mind buying and selling. I have never had a problem either way. Ken
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| From: Scooby-doo
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| Date: 21-Jan-17 |
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It will show that 21 days until proof of delivery is shown. Add your tracking info. Once it shows it has been delivered the money will go off "hold" in a couple days. Scooby
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| From: Legato
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| Date: 21-Jan-17 |
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The money is placed into your PayPal account. Meaning if you sold the bow for $500 you will be freely and immediately able to utilize that money to buy goods with merchants that accept PayPal. The 21 day hold is standard until you are "verified." What that means is that after 21 days the money in the PayPal account will transfer into your bank account and be able to be withdrawn into tangible cash on hand.
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| From: 4blade
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| Date: 22-Jan-17 |
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One thing, if the buyer sent the money as a gift using a credit card, and no fees were deducted from the transaction on your end for goods. They could after receiving the item, turn around and claim it is fraud with the credit card company and you will lose. I'm not saying this is going to happen but it is something to be aware of when using paypal.
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| From: bigdog21
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| Date: 22-Jan-17 |
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have you looked in your pay pal account and money is there? or does it say pending. if there yes ship, if pending no I would not ship. go to pay pal first time seller and it will answer all your questions plus look at pending payment. and is it a regular on here a handle could get you a lot of info. if its on the up and up I am sure the would not mind .
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| From: bigdog21
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| Date: 22-Jan-17 |
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ps. send with signature required. so you can prove you sent and they received for pay pal to cover you if they try to get a refund. saying never received item it happens.
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| From: Bowlim
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| Date: 22-Jan-17 |
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4blade, same problem, but easier for them if they use the business option, they can claim the bow was never delivered. I don't know why everyone thinks paypal is so safe, check out ebay seller forums.
Overall, though, Paypal is not probably going to be an issue with this sale.
I would certainly send the bow, as he is down the money, and the hold is not his fault, you have to man up and take whatever risk there may be. (not suggesting you aren't the type that would man up, but when I do a deal, there are risks, and I have to accept those when they are my risks).
Check with paypal though, I don't see the point to a 21 day hold as verification. They want to know you are for real, but the process they use normally involves proving you actually are who you say you are relative to the linked account, and that takes a few hours.
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| From: falcon
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| Date: 22-Jan-17 |
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Ive never had a problem with PP but my son did someone in La. hacked his account and bought some computers with it. he got his money back but it missed up his bank for a couple of weeks. I still feel gook about it
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| From: oldgoat
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| Date: 22-Jan-17 |
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It's only a hold for the seller, not the buyers funds, I believe if the buyer receives the bow and is satisfied and notifies PayPal that the transaction is complete, they will then release the money sooner, a few business days later, but no you shouldn't wait to ship the bow.
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| From: Kwikdraw
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| Date: 22-Jan-17 |
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If it's an ebay transaction, this routine is normal, depending on your status and feedback numbers. If not, and is on a "classifieds" site, then I don't understand the hold. I've sent money to many people, and never had a "hold", unless, like I said, it's an ebay transaction.
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