Paypal Chargebacks - Coin Community Forum

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Author	Replies: 3 / Views: 1,506
okie-colin Pillar of the Community United States 1083 Posts	Posted 12/11/2008 8:42 pm I am thinking of selling a bullion set on ebay that should bring about $2,000. I would limit payment only to Paypal. I read their user agreement and it seems there is no protection for sellers. If the buyer uses a credit card for payment and than claims fraud or non-delivery and has his card company reverse the charges, it appears to me that Pay pal will just reverse the payment. This can happen up to 180 days after the sale. I assume Paypal can do this through access to the seller's checking account or credit card. Even if I have proof of delivery the buyer can just claim I sent a fake or any number of things. Where is my protection as a seller? I am the one who pays their fees. Comments please. Report this Post to the Staff

bmanofnbc Pillar of the Community United States 1424 Posts	Posted 12/11/2008 8:50 pm You are not the only one with this dilemna... I will be closing my ebay AND paypal accounts within the next week, just as soon as my last auction lot is rec'd by the buyer. Between all of the fees and the new rules put in place it just isn't worth it to me any more. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 12/12/2008 08:36 am Bad things happen to good people at Paypal, and it's not always deliberate. Just last month I had a good-intentions-but-bad-results incident with a buyer which cost me (temporarily) $1200 while Paypal "investigated." I'd sold a large item overseas to a soldier at an APO; the only possible shipping method didn't meet Paypal's requirements for tracking. Therefore, they froze my money since I couldn't provide them "sufficient" tracking data, although the buyer was satisfied and apologetic for having started the ball rolling in the first place. Moral of the story? I no longer link Paypal to a credit card, and I have my Paypal bank account electronically linked to a second account which Paypal can't touch. All payments are immediately transferred into that second account, where I hold them until the deal is completed to both parties' satisfaction. I have a ten-year unblemished ebay record. I don't need Paypal to enforce my quality as a seller. Report this Post to the Staff
okie-colin Pillar of the Community United States 1083 Posts	Posted 12/12/2008 09:45 am Thanks Dave. That is a great idea to have a seperate bank account, but I am only an occasional seller. Way too much trouble and expense for me. I was going to convert one of my four coin bullion gold eagle proof sets to cash so I could finish my Lincoln set. I only lack the 1909-S VDB and the 1914-D. I awoke to the news about the failed auto bailout and changed my mind. I think I will hold on to my gold and silver bullion and not buy any collector coins for a year or so. Time to hunker down. Report this Post to the Staff
	Replies: 3 / Views: 1,506

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