Selling with PayPal

[Miztaziggy]

Would you sell your bike through PayPal if they offered to pay fees?

Even with risk of chargeback and credit card fraud?

[VTRDark]

I would but only once funds are transferred and cleared to my bank account which shouldn't be a problem with genuine buyers. If I was really concerned about selling something online then there is always the option of using Escrow.

But if selling a bike it needs to be picked up so the best option is a £100 or something on winning auction and the rest in cash when picking the bike up and sorting out all the paperwork.

(:-})

[Miztaziggy]

Ok and even if the buyer might have used a credit card to fund PayPal, and has 60 days to initiate a chargeback?

Apparently they can suck the money right back from your bank account to refund the credit card. If you don't have the money they will end up sending the Bailiffs

[VTRDark]

Apparently they can suck the money right back from your bank account to refund the credit card. If you don't have the money they will end up sending the Bailiffs

Not sure on that. I didn't think Paypal can not transfer money directly out your Bank account without your permission. If money is fraudulently taken from your credit card then you notify the credit card company to put a stop on it. After all it's not real money yet it's just digital transactions. Surly this is a risk with any credit card services.

(:-})

[popkat]

If someone has the funds to pay by paypal then just get them to transfer the money direct to your bank account, it's yours then. And if credit card they can draw the funds to their bank account from it, there is a charge but likely to be similar to the paypal charge anyway. So basically if they can card it through paypal they can also put it in your bank, if not they might be scammers.


I sold my Bmw r1200s last year and the guy put £6500 in my bank account after some forum chatting and only a 10 minute phone call, i was worried that he could claw the money back,i rang the bank and they said no it's mine, 2 days later i met him 100 miles away and after 10 mins he was on his way a happy chappy......ME, i was gutted i'd sold one of the best bikes i've ever had, and i never thought i'd say that about a BM, lol..

[Bullyboydave]

I sold a bike recently through eBay and always did prefer cash on collection, but the money I received on pick up contained £100 in fake 20's. Very hard to prove we're you got this from and buyer came from miles away with wife and kids etc to pick up bike.Was gutted as didn't relise till I banked the cash, so it was bye bye £100, but could of been a lot more,I don't think the buyer relised it was fake,but there again who knows, From now on I will only a accept paypal or a cheque and release the bike when I have the cash in my bank.think the best idea is to treat everyone as a potential crook or conman unless you know them personally .

[Miztaziggy]

I sold a bike recently through eBay and always did prefer cash on collection, but the money I received on pick up contained £100 in fake 20's. Very hard to prove we're you got this from and buyer came from miles away with wife and kids etc to pick up bike.Was gutted as didn't relise till I banked the cash, so it was bye bye £100, but could of been a lot more,I don't think the buyer relised it was fake,but there again who knows, From now on I will only a accept paypal or a cheque and release the bike when I have the cash in my bank.think the best idea is to treat everyone as a potential crook or conman unless you know them personally .

As I said the problem is that even if they pay with PayPal and you withdraw to bank, they can still chargeback the money for at least 60 days. PayPal will try to take it, but if they can't will show a negative balance and try to recover from you eventually by sending in debt collection companies

[cheekykev]

Can't see what the problem is here, if you sell on ebay make sure the winning bidder pays £100 deposit and arrange with them that when they come to collect you both go to the bank, he then transfers the FULL amount directly into your account and you give him a refund on his deposit, hand over the keys, reg doc, bike and a receipt etc, job done, moneys yours, bikes his, all the money has been dealt with at the bank so no ifs or buts and piece of mind
I've sold and bought many a bike this way privately, must admit never through ebay though.
Anyone who is in a rush to do a deal and won't go to the bank with you is probably up to something.
Always remember, if you smell a rat and you think things are not quite right then they are usually not

[Wicky]

Also beware of accepting a banker's draft as payment as it could be forged. This happened to a friend selling his bike, he even helped push the bike onto a trailer only later to discover he'd been conned and couldn't claim on his insurance as he'd handed over the keys and assisted the thieves.

Exactly the same as this cautionary tale describes > http://www.telegraph.co.uk/motoring/273 ... -tale.html

[AMCQ46]

Ouch,

[VTRDark]

You can't beat good old cash even if there are a few fake notes. As long as they are not blatenly obvious then just get rid off them down the local corner shop.

(:-})