k9mark
Well-known member
Stupid question im sure but how do you sell an item via paypal? Im looking to sell a rod I have.
paypal
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Set up an account on Paypal. Its free. The person sending you money will type in your paypal contact (which is simply your email address typically) and transfer his money to your account. You then must transfer the money from Paypal to your bank acct. Very easy. There is a small fee of about 3.2%
you have to set up a paypal acct. and it is linked to your bank acct. you give the person your email/paypal acct and the funds they send via pay pal get deposited for a fee.........
jbirds probably right on that detail , I don't sell just buy so I only see the funds going away !
jbirds probably right on that detail , I don't sell just buy so I only see the funds going away !
flyfishmich
Well-known member
Do you have an account set up? You'll need that. I am not sure if you have to have a confirmed account but they will ask you to verify 2 small deposits into your checking account. You enter those 2 amounts and your account is verified. After that when you agree to a selling price for your equipment the buyer sends payment from his/her paypal account to yours using your email address.
Then, if you choose, you can transfer the funds into your bank account which takes about 3-5 days.
Paypal takes a little less than 3% of your sale peele e rice. sometimes you can ask the buyer to pay an etra 3% to cover fees but "usually" the seller just eats them.
Others will fill in details I have missed but I have been using paypal for 10 years. I just got hack on my last deal and the hacker took my entire balance. 1 phone call to paypal and in a week I got my money back after I filed a fraud complaint.
Other than that things have been great.
Then, if you choose, you can transfer the funds into your bank account which takes about 3-5 days.
Paypal takes a little less than 3% of your sale peele e rice. sometimes you can ask the buyer to pay an etra 3% to cover fees but "usually" the seller just eats them.
Others will fill in details I have missed but I have been using paypal for 10 years. I just got hack on my last deal and the hacker took my entire balance. 1 phone call to paypal and in a week I got my money back after I filed a fraud complaint.
Other than that things have been great.
silver creek
Well-known member
Keep your Paypal balance at "0.00" Whenever I get paid, I transfer it to my banking account.
Always send items to the registered paypal address when you sell. Be very suspicious when the address they ask you send items to is not even in the same city or state as the registered account.
There is a scam from a phony paypal notice that an item of yours has sold and the money has been deposited to your account. NEVER GO TO THE PAYPAL LINK in any message.
Instead confirm all payment by going independently to Paypal through your paypal Bookmark and confirming the payment.
http://www.cbsnews.com/news/dont-fall-prey-to-this-paypal-scam/
Always send items to the registered paypal address when you sell. Be very suspicious when the address they ask you send items to is not even in the same city or state as the registered account.
There is a scam from a phony paypal notice that an item of yours has sold and the money has been deposited to your account. NEVER GO TO THE PAYPAL LINK in any message.
Instead confirm all payment by going independently to Paypal through your paypal Bookmark and confirming the payment.
http://www.cbsnews.com/news/dont-fall-prey-to-this-paypal-scam/
markfrid
Well-known member
Not to hijack the thread, but I tend to keep a Paypal balance - I guess from the above I should be concerned. The question I have is: if a hacker can get my Paypal balance, and my Paypal is linked to my bank, can said hacker also clean out my bank account?
Mark
coastrider
Well-known member
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If a hacker can get into home depot and other dept stores you can be guaranteed they can hack Paypal. I dont keep a balance but they keep my Credit card on file
Sent from my SGH-I547C using Tapatalk
Sent from my SGH-I547C using Tapatalk
silver creek
Well-known member
Your bank deposits money into Paypal's routing number and not the hackers. So hackers cannot directly get your money.
For the hackers to actually get your money from your back account, they would have to hack Paypal and get Paypal to request money from your legitimate account. They then would need to transfer that money into their account from paypal.
The difference between Paypal and Home Depot and Target is that, Target and Home Depot's business is selling merchandise. Paypal's business is moving money and so securing the information about bank accounts and routing numbers IS THEIR BUSINESS.
Paypal acts as an escrow account that hold the money, takes their cut and then transfers the money into the seller's account.
To my knowledge, this has never occurred and if it did, you would not be responsible since "Paypal" was the portal of the hack and they would be responsible.
markfrid
Well-known member
Interesting, Mr Silver, thanks very much.
Mark
Mark
fredaevans
Well-known member
paypal? I wouldn't touch them with an electric shock pole.
Consider .. giving your banking 'details' to whom? For what if they're 'hacked?' Who hasn't? Etc., etc. If a 'fraud/hack' occurs whose backing up your play/CC number with PayPal?
I'm old school and see something I want to buy (Amazon.com I trust) and I'll contact the seller and 'Would you accept a personal cheque or would you like a bank cashier's cheque?'
Never had someone say know if they know 'why.' The why is I got totally burned on my first PayPal transfer :stretcher.. and NEVER again to that well of cold water.
Consider .. giving your banking 'details' to whom? For what if they're 'hacked?' Who hasn't? Etc., etc. If a 'fraud/hack' occurs whose backing up your play/CC number with PayPal?
I'm old school and see something I want to buy (Amazon.com I trust) and I'll contact the seller and 'Would you accept a personal cheque or would you like a bank cashier's cheque?'
Never had someone say know if they know 'why.' The why is I got totally burned on my first PayPal transfer :stretcher.. and NEVER again to that well of cold water.
flyfishmich
Well-known member
Never send money on Paypal as a gift either. Because then you do not have fraud protection. If you send it as a gift then you acknowledge you are sending a gift.
Its an option when sending money.
My Hack occurred the day after I received payment. Ugh before I woke up in the morning.
I will keep a balance if I am looking to purchase something with the money I get from a sale. But I don't use it so much anymore so its no biggy
Its an option when sending money.
My Hack occurred the day after I received payment. Ugh before I woke up in the morning.
I will keep a balance if I am looking to purchase something with the money I get from a sale. But I don't use it so much anymore so its no biggy
k9mark
Well-known member
Thanks everyone
Best thing to do is set up a bank account and cc specially for your online trading.
E.g a cc with a low credit limit. And a bank account disconnected from any of your savings and investments.
This isolates your risk of fraud to the amounts in these specific accounts.
Keep your eBay account balance low. So if you sold an expensive rod and don't plan to buy via PayPal the. Transfer money to your bank account then transfer off to a separate account , even with a different bank.
E.g a cc with a low credit limit. And a bank account disconnected from any of your savings and investments.
This isolates your risk of fraud to the amounts in these specific accounts.
Keep your eBay account balance low. So if you sold an expensive rod and don't plan to buy via PayPal the. Transfer money to your bank account then transfer off to a separate account , even with a different bank.
Also realize you do not need to keep a balance in PayPal in order to make purchases. PayPal accesses your connected bank acct for the funds.
I Have made hundreds of transactions thru PayPal, both coming and going and have had 100% satisfaction
I Have made hundreds of transactions thru PayPal, both coming and going and have had 100% satisfaction