Is PayPal Safe for $X,XXX Domain Sale?

[tekz999]

Use an escrow service, I only have had terrible experiences with big paypal transactions.

[MobileDesigner]

ive done 2 transactions over $x,xxx each. no problems so far. but i know the guys. if it is someone i dont know, then i may investigate their histories. DNforum is the best so far for me. If they steal from you, then their reputation is destroyed here. i dont think anyone wants to destroy their reputation on this site.......

[sashas]

why don't we all just get super paranoid and not sell any domains at all?

That would rock, wouldn't it?

[Varchar]

Paypal is never safe... I recently got scammed for $1200 for a site I purchased and even I found out that it is a scam within 30 days, they refused to refund my money and simply says that they don't care about the quality of the product deliver. They are very irresponsible.

Use paypal only if you know and trust the buyer. I would use escrow if it is the first time you deal with the other party.

Kawing

[italiandragon]

This is a very interesting topic and it`s never enough to discuss things that help us to be a step ahead of the scammers.


I hate PayPal and as most of you , I use it only with reputable members or for low amounts.

One question I have regarding the chargebacks:

let`s suppose that someone does a chargeback 50 days after you got the payment in your PayPal account. ( I heard that sometimes people are allowed to do chargebacks up to 60 days) so since it`s quite old, it won`t show up in your "last activity" and if you are not somone who checks old activity , then how exactly do you notice the chargeback? Does PayPal send you an e-mail of it or nothing at all?

Thanks

[Jeffreyw]

I have only used Escrow once, and that 5 years ago, and as for Paypal transactions there were too big an amount.

But i can suggest that when selling we can ask for requirements for the buyers like this:

-Buyers should have more than 1,000 posts here on DNF or NP.
-Or should be a DNF verified member.
-Or should have more than 20 iTrader rating.

Otherwise if the buyer doesnt have that requirements above, will use Escrow.com or other escrow services.

[sashas]

-Buyers should have more than 1,000 posts here on DNF or NP.
-Or should be a DNF verified member.
-Or should have more than 20 iTrader rating.

- Many buyers here just come to buy. So they have very low post count.
- Many buyers (and sellers) don't bother with the iTrader sometimes
- iTrader rating can be made up very quickly by selling low value names for cheap. Whats more important is to have sold/bought high value names.

[MOGBase]

One question I have regarding the chargebacks:

let`s suppose that someone does a chargeback 50 days after you got the payment in your PayPal account. ( I heard that sometimes people are allowed to do chargebacks up to 60 days) so since it`s quite old, it won`t show up in your "last activity" and if you are not somone who checks old activity , then how exactly do you notice the chargeback? Does PayPal send you an e-mail of it or nothing at all?

Thanks

I am a freelance graphic designer and had a client reverse a transaction for $XXX back in mid-September of 2007. The original transaction took place in early July of 2007, so the period in between was approximately two months (60 days).

Here is the email I received from PayPal regarding my reversal:

Notification of Reversed Transaction

Dear _____ ___________,

One of the benefits of using PayPal is that we make every effort to alert
you to potentially problematic transactions. Our goal is to help you make
sound business decisions.

A review of recent transactions indicates a problem with the payment
detailed below. As a security measure, we have reversed the transaction.


-----------------------------------
Transaction Details
-----------------------------------

Transaction Date: Jun 10, 2007
Transaction Amount: -$XXX.XX USD
Your Transaction ID: XXXXXXXXXXXXXXXXX
Buyer's Transaction ID: XXXXXXXXXXXXXXXX
Case Number: XX-XXX-XXX-XXX
Buyer's Name: ____ _______
Buyer's Email: ________@_________.___

Sincerely,
PayPal

Please do not reply to this email. This mailbox is not monitored and you
will not receive a response. For assistance, log in to your PayPal account
and click the Help link located in the top right corner of any page. If
your inquiry is regarding a claim, log in to your PayPal account and go to
the Resolution Center.

----------------------------------------------------------------

[Jeffreyw]

That's why i wrote "otherwise..." at the last line

- Many buyers here just come to buy. So they have very low post count.
- Many buyers (and sellers) don't bother with the iTrader sometimes
- iTrader rating can be made up very quickly by selling low value names for cheap. Whats more important is to have sold/bought high value names.

[Melly]

This is a very interesting topic and it`s never enough to discuss things that help us to be a step ahead of the scammers.


I hate PayPal and as most of you , I use it only with reputable members or for low amounts.

One question I have regarding the chargebacks:

let`s suppose that someone does a chargeback 50 days after you got the payment in your PayPal account. ( I heard that sometimes people are allowed to do chargebacks up to 60 days) so since it`s quite old, it won`t show up in your "last activity" and if you are not somone who checks old activity , then how exactly do you notice the chargeback? Does PayPal send you an e-mail of it or nothing at all?

Thanks

Actually I think they can do a charge back at any time. Its a normal transaction that they can't reverse on after a certain period of time like 45-60 days.

[RTM.net]

Use paypal only if you know and trust the buyer. I would use escrow if it is the first time you deal with the other party.

I have used PayPal for $XXXX on several occasions, usually as a seller and the clients have always been satisfied and it's gone smoothly. I do a basic number of due diligence checks on the transaction, the buyer, their rep in the domaining community... and then assess it on a case by case basis.

If in doubt, any doubt... use escrow - a reliable escrow service.

Rob

[italiandragon]

Actually I think they can do a charge back at any time. Its a normal transaction that they can't reverse on after a certain period of time like 45-60 days.

I don`t think they can chargeback later than 60 days.

[idevlabs]

Only use PayPal for an amount you'd be willing to lose, because there's a very good chance you're going to lose it unless you know the person. Escrow.com is really fast and professional though, they certainly earn their commission. The only caveat with escrow.com is they have limited payment options. They don't accept PayPal payments that are going to someone not in the US, and they don't accept PayPal payments over $5k.

[DN48]

ppal customers service is the worse i ever seen and they like doing investigation and hold on if its not ebay item...!

[HAMAN]

other options:
- 2co.com
- Moneybookers.com

[kwok]

Hello,

I am a verified PayPal member with a Premier Account. I have a portfolio of LLLL.com domains for which I have received a mid-$X,XXX offer. Is it safe to use PayPal for this transaction? If so, what should I be looking to "ask for" in regards to verification and whatnot. I have made multiple transactions on PayPal for $XXX, but never have done any transactions in the $X,XXX range.

All help is greatly appreciated. Thank you.

Absolutely not. Too much LLLL.com scam artists recently, and many people on the other forum were scammed in similar $x,xxx package deals. Don't use Paypal.

[Poohnix]

I don`t think they can chargeback later than 60 days.

Yes, they can. I've been using PayPal for a member service for 5-6 years, and hate to have to have them as a payment alternative, but would lose too many customers if i wouldn't use them. But on several occasions there has been reversals of PayPal transactions up to 6 months or more after the fact.
And since it's an online service, it doesn't matter what proof I provide, PayPal *always* decide in favor of the buyer.

I would never sell domains via PayPal unless I really knew the buyer very well, and had several previous successful high dollar transactions with that buyer.

I've been on the other end, as a buyer, in some cases even for xx,xxx transactions, but that's with a seller that has sold a lot of high-prices domains to me before, and know me.

.

[Zion]

I used paypal for a high x,xxx sale (I was selling). The person proved trustworthy, but it cost me about $300 in paypal fees to accept the money. I would avoid it.

[Banned: runky]

I will never use PayPal no more, because i got funds reversed 32days after i received a payment.

[kong707]

I think for using Paypal buyer can file a charge back only once. So if we(seller) asks buyer to file a chargeback and then cancel it before we transfer the domain. This way can be safe , right ? Buyer can't do the chargeback twice.