Is PayPal Safe for $X,XXX Domain Sale?

[Johnn]

Originally Posted by Pink Misfit

The problem with moneyboorkers, epassporte, click2cash and all the others like them is really how many users have these types of accounts? And even if they do they also can be a stolen account. Doing online is risky. I have been using direct bank wire. Buying or selling.


Paypal can kiss my white a s s!

What if someone hacked into a checking account and send direct wire to your account?

Btw, I know your name is pink but you don't have to tell us the color of the other part.

[hugegrowth]

Ok, so they're on the ball then with domains.

[Pink Misfit]

Originally Posted by Johnn

What if someone hacked into a checking account and send direct wire to your account?

Btw, I know your name is pink but you don't have to tell us the color of the other part.

Can someone actually hack a checking account? I thought all wires had to be done in person. Geesh!


Sorry I will edit that part out.

[Johnn]

Many banks would allow you to wire 'on line'.

[Pink Misfit]

Originally Posted by Johnn

Many banks would allow you to wire 'on line'.

great now I can be nervous about something else.


Thanks Bro!

[Johnn]

Yes it can be done in person and the signature can be forged too!

http://www.marketwatch.com/News/Stor...le&dist=google
--------------------------------
There is "Wire transfer Scam" known as "flashing".

- The sender sends 'wire transfer' to your account.
- Your bank received the information (it is not clearance yet) that the funds WILL BE available to be deposited into your account.
- If timing correctly the sender can withdraw the funds prior to the receiving bank to request to complete the funds transfer.
- When this happens. you will be responsible for any funds that have been draw against your account.

Many people check their account and saw the funds in the account (electronically) and hurry to transfer the name or deliver the product.

The key here is the scammer 'timing' the transaction "in transit" and not "complete"

[MOGBase]

Thanks for all of the comments. After reading everything I am definitely going to be using Escrow to handle the transaction for the domains. I'm not going to risk losing $X,XXX with PayPal since I have lost $100 due to a reversed transaction there before. Escrow sounds good and I don't mind eating the fees.

Thanks again. Feel free to keep up the discussion, it's interesting reading all of your inputs.

[Doc Com]

Folks, it is really easy...

There are any number and no limit to ways that peeps want to part you and your money.

If you have it, someone else wants it and will invent, create, manipulate anything to get it.

[ShytKicker]

Why does Paypal have chargebacks? Why don't they get rid of the feature?

[GAMEFINEST]

Escrow is the best way to go, I use paypal for members i trust on forums with valid feedbacks

[f1fanaticgt3]

Paypal blows! I had a credit card on file with them sometime ago and much to my surprise there was someone in Canada buying a bunch of stuff with it. Turns out it wasn't to hard to hack into paypal accounts and steal info. Lame if you ask me!

[DomainMillionaire]

Originally Posted by Pink Misfit

The problem with moneyboorkers, epassporte, click2cash and all the others like them is really how many users have these types of accounts? And even if they do they also can be a stolen account. Doing online is risky. I have been using direct bank wire. Buying or selling.


Paypal can kiss my booty.

Pink, the paypal fiasco may actually work against you. I once had a chargeback done to me and I said f it . A few months later I got a collection notice and I had to eat the whole thing. It was only 500 bucks so it was ok. Once it goes to collection, it can ruin your credit, so there really is no way out. and for 26k, im pretty sure they are gonna be on your case. and yes sadly,its your case, paypal always gets the seller.

[domaingenius]

What if a buyer through escrow.com changes the whois info to something other than his own details and then pleads to escrow.com that he never received the domain ?.

DG

[internext]

I recommend using escrow too. I have used escrow.com mostly but for an extra layer of protection, Moniker's escrow service is top-notch. They differ in that they are an accredited registrar and actually take possession of the payment AND the domain prior to transferring either. Definitely avoids the escrow 'what-ifs' seen previously in this thread altogether.

[Pink Misfit]

Originally Posted by DomainMillionaire

Pink, the paypal fiasco may actually work against you. I once had a chargeback done to me and I said f it . A few months later I got a collection notice and I had to eat the whole thing. It was only 500 bucks so it was ok. Once it goes to collection, it can ruin your credit, so there really is no way out. and for 26k, im pretty sure they are gonna be on your case. and yes sadly,its your case, paypal always gets the seller.

Oh I know its going to go on my credit. Theres no doubt about that. The actual balance negative is 21,087! Its still pending "for verification" waiting for the credit card company to decide. Its been over 5 months so they need to just settle it. I called and asked why its taking so long. Their website says like 90 days.

Since it was done about a week after the transaction took place, I emailed the guy a CD with his stuff on it so I could put in a tracking number for the needed info.

But of course its not gonna help because they always decide in the buyers favor when it comes to chargebacks

[poulos]

escow has been good so far,
but if a con wants to con he can buy the domain and change the whois info back to yours and still hold the domain and say he never received it,
thats why i like sedo.com they get the domain and then transfer to you,

[DomainMillionaire]

Originally Posted by Pink Misfit

Oh I know its going to go on my credit. Theres no doubt about that. The actual balance negative is 21,087! Its still pending "for verification" waiting for the credit card company to decide. Its been over 5 months so they need to just settle it. I called and asked why its taking so long. Their website says like 90 days.

Since it was done about a week after the transaction took place, I emailed the guy a CD with his stuff on it so I could put in a tracking number for the needed info.

But of course its not gonna help because they always decide in the buyers favor when it comes to chargebacks

Just curious as to what you sold. As far as Im concerned, its stolen poperty at this point. If the guy is in the US also, you should be notifying the authorities and it should be pretty easy to nail him.

[Banned: domain newbie]

My rule with paypal- only do transactions of the amount you can afford to lose - its like gambling really ! especially with their " untraceable goods" policy

escrow is the best, better pay the fee than lose it all

Originally Posted by domaingenius

What if a buyer through escrow.com changes the whois info to something other than his own details and then pleads to escrow.com that he never received the domain ?.

DG

hmm, i thought of this too, it happened ones in my case, when i noted - domain got moved after initial transaction - but nothing bad happened of it so far

[HasRob]

I've never had a problem with paypal myself. As long as the buyers paypal account information and registrar information match 100% exactly. Name, address, country, phone, email etc.

although as others here have said, escrow.com is much safer.

[Pink Misfit]

Originally Posted by DomainMillionaire

Just curious as to what you sold. As far as Im concerned, its stolen poperty at this point. If the guy is in the US also, you should be notifying the authorities and it should be pretty easy to nail him.

It was custom software that my husband created for him and yea he is in the US