If the seller demands Paypal and won't accept USPS Money Order, i don't buy from them.
If the seller demands Paypal and won't accept USPS Money Order, i don't buy from them.
I first used PayPal about twenty years ago. It has been convenient for international sales. For domestic sales I have accepted alternatives; cash, personal checks, bank drafts, and USPS Money Orders.
I have been using PayPal since its inception for hundreds of transactions and have only had two problems. The first was when a seller tried to pay while on vacation and was unable to do so since his address zip didn't match his payment zip. We had to wait until he got home to complete the transaction. The amount involved was around $1500. The other was an inexplicable three or four day hold on my withdrawing funds. The amount involved was around $300. PayPal is fast and convenient. Who wants to drive to the post office and wait in line to purchase a money order for every internet transaction.
I've used PayPal for more than ten years as both buyer and seller, typically a few transactions each year. I've never had a problem.
However, the horror stories, heard most frequently from the seller side, are real. Unfortunately, the handful of anecdotal reports that you'll get here are too small and too non-random a sample to provide a robust estimate of trouble rates by transaction or by user.
I think the one clear take-home is that if you do join, it would be wise to apply the same due diligence with respect to counterparties that you would apply with a cash transaction. You cannot be sure that PayPal's dispute-resolution procedures will work in your favor if something goes wrong.
In this day and age, I think it is important to at least have the option. I took over my father-in-law's business in 2008. He did not take credit cards, ever, and he had been in business since 1985. Cash and check only. People were thankful when I started taking credit cards. Flash forward and I have people asking if I take paypal. Not enough to warrant a change yet but the time is coming.
I have been ready to buy items on the forum here, but when I saw the PP only disclaimer, I went to the next seller. I stopped being involved 15 years ago with PP on fleabay, when someone, no doubt one of their employees, tried to scam my account to the tune of $266. Fortunately, the fraud department at Discover Card smelled a rat and notified me in time. Never again. I will gladly stand in line at the PO for a money order.
I recently got scammed on an apartment rental. After filing a police report and small claims case the lady paid me back (over $3k) via PayPal. A year later she contested the charge and because there were no tangible goods sold I lost and PayPal went straight into my checking account and took the money.
Been using PayPal for about 20 years now (basically since right after they started). Never had any issues as buyer or seller. I pay for online orders through PayPal when I can. It serves as an additional buffer between others and my bank account. I have begun looking into the retail services myself for my online store and for at shows.
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As rorye's example shows, it doesn't function effectively as a buffer - the terms to which you sign up enable PayPal to extract money from your linked bank account in connection with disputed transactions as they decide, not as you decide. AFAIK if you want a buffer you need to create a dedicated bank account for PayPal transactions, move only as much money into the account as needed to keep it open and to fulfill any purchase transactions, and transfer incoming funds beyond the required minimum to another account ASAP.
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