risk of accepting paypal?

[uclaboyz]

Want to take a $500 payment via Paypal (outside of DNF), asked for buyer to send via Mass pay but don't think he can pull it off... what's the risk on me for taking a regular payment via Paypal, should he file a dispute?

If I transfer the money to my bank, can Paypal legally draw the fund back from my linked bank acct?

Looking to see if anyone has similar experience.

Thank you!
Steve

 

[kollam003]

You will need to verify your credit card with Paypal to get the money, You need to add your banking details. I will not recommend using paypal for digital goods. Since Paypal has your credit card details even if you have withdrawn they can bill your card, if they take the legal route they can get the money from you. Its better to deal throw escrow and split the fees, or ask the buyer to pay.

If the buyer files a dispute you are 99% sure that you will lose the money. Paypal will not support digital goods under paypal seller protection.

 

[katherine]

I would at least ask for a traceable phone number, and call.
I think a masspay payment can be revoked too no ?
Other option: use escrow.com, I think paypal is an option for US buyers, then you shift the risk (and leave the verifications) to them.
There is a fee but it's safer.

 

[ulterios]

If you are unsure of the buyer and/or have doubts then I would go with what katherine suggested and use escrow. It's much safer than Paypal for domain transfers. I did however hear that Paypal was making some changes to their policies on digital goods like domains, but I haven't seen their policy changes lately so I can't verify it.

 

[dejanlesi]

Use Ecop.com which accepts Paypal payments and gives you an escrow piece of mind. Why even risk it?

 

[ulterios]

Use Ecop.com which accepts Paypal payments and gives you an escrow piece of mind. Why even risk it?

I have never used Ecop, are they good?

I have seen some ads and mentions of them but haven't used them yet.

 

[dejanlesi]

I have never used Ecop, are they good?

I have seen some ads and mentions of them but haven't used them yet.

Francois, the owner of Domaining.com, also owns Ecop. He is great to work with and I use the service all the time.. The best thing is that you can pay with Paypal and also get paid with Paypal..

 

[ulterios]

Francois, the owner of Domaining.com, also owns Ecop. He is great to work with and I use the service all the time.. The best thing is that you can pay with Paypal and also get paid with Paypal..

Oh, ok. I didn't know he owned Ecop so that's probably where I saw some of the ads for it.

I like the Paypal both ways thing too, I didn't know they did that.

Thanks for the information and have a Great Weekend.

 

[kollam003]

I have used them once and it worked very well.

 

[ulterios]

I have used them once and it worked very well.

Thanks for your input.

I'll have to try them out on my next deal.