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 Replies: 6 / Views: 2,868 |
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Pillar of the Community
Canada
1700 Posts |
I have used Paypal as a buyer in the past, but not as a seller. I was hoping to sell some bullion online, and I am considering Paypal. One thing that confuses me is that Buyer/Seller Protection policies seem to exclude "financial products." Has anyone run into trouble during bullion sales or purchases as a result of this fineprint?
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Pillar of the Community
United States
7641 Posts |
I kinda run on a policy of only selling stuff online that I can afford to lose ....(both the product and money involved).
I've read of horror stories with online payment processors (like PayPal) refunding buyers after product has been delivered.
On bullion I think you'd be much safer selling it locally. May not bring what it would online but you would have fewer risks.
You just have to weigh the risks and costs involved and decide for yourself whether it's worth it or not.
Good luck whatever you decide to do!
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Pillar of the Community
Canada
3733 Posts |
everyone who sells bullion on ebay, accepts paypal. so I can't see it being an issue. keep in mind any sale over 750$ canadian, requires a signature, and that is near impossible to get right now, as postal carriers aren't interacting with people. |
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Pillar of the Community
United States
1026 Posts |
I'm not sure this has been mentioned before, but apparently PayPal changed their policies when it comes to refunding cancelled orders or returns. Now PayPal does NOT reimburse a sellers when they approve an order cancellation request through ebay. This has happened to me last night as I refunded someone who cancelled an ebay order within a few hours of placing it. In my case it was only $5.20 I lost, but imagine you sell something for several thousand dollars and then the buyer requests to cancel the order... This could be costly. |
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Pillar of the Community
United States
7375 Posts |
I don't understand. What do you mean Paypal doesn't reimburse a seller. Did the buyer already pay, or not, before they cancelled? Something doesn't sound right.
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Pillar of the Community
 United States
5684 Posts |
If a seller cancels an order at the buyer's request, ebay will refund the buyer and deduct the funds from the seller's PayPal account. But PayPal won't reverse their 2.9% seller fee, so that amount is still paid by the seller. It's a terrible policy, and it happened to me last month on a $300 sale that the buyer wanted to cancel shortly after he paid. But not much you can do about it if you want to use ebay and PayPal. |
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Pillar of the Community
United States
7375 Posts |
Yea, that stinks. Am sure it's happened to me. Glad I don't really care, or that's one more thing to get spun up about.
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Replies: 6 / Views: 2,868 |
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Posted 05/12/2020 3:27 pm
