receiving funds through paypal

[islandman4567]

I want to know how secure paypal is.

I've heard that you can still get siffed when receiving funds.

should you wait for a few days for the funds to clear?

if the person paying says they didn't receive the item , how do you prove it was sent? always ship with tracking?

 

[Papi Chulo]

if the person paying says they didn't receive the item , how do you prove it was sent? always ship with tracking?

Why not ask them to pay with Interac email money transfer?.. it is instant

The only way you can prove it was sent is if you send it via Priority Post or by courier

 

[blueline]

Why not ask them to pay with Interac email money transfer?.. it is instant

The only way you can prove it was sent is if you send it via Priority Post or by courier

There are other ways to ship with tracking. I mostly use expedited and there is also express post. Both include tracking numbers. Depending on where an item is shipped, the cost is fairly reasonable with expedited. I use a Venture One card that you can get through Canada Post for small business shipping. You get something like 5% off shipping costs within Canada, not much I know, but often regular parcel post and expedited comes out to be just about the same. Then I choose expedited because it provides tracking.

 

[islandman4567]

Why not ask them to pay with Interac email money transfer?.. it is instant

The only way you can prove it was sent is if you send it via Priority Post or by courier

what do you need to set this up? can I have them send the funds to a paypal account or does this work like debit?

I'm a bit wary of giving out any banking info.

 

[Papi Chulo]

what do you need to set this up? can I have them send the funds to a paypal account or does this work like debit?

I'm a bit wary of giving out any banking info.

If someone in canada uses online banking at one of the major banks, they have an option to send an interac transfer by email

They only need your name & email address.

When they send it, they choose a security word, which they need to provide to you.

You get an email, which takes you to your banks site, to receive it.

Done

 

[Edifice]

When you receive the funds through paypal how do you receive it?
I take it's like a virtual account.

How do you transfer the money to say your CC or bank account?
What options does one select?

 

[Brotherman]

If i remember correctly, the maximum is $500 for interac email money transfer.

 

[WinterHawk]

If i remember correctly, the maximum is $500 for interac email money transfer.

The maximum may depend on your own account set up, the maximum I have is $1,000 per day, not $500.

 

[islandman4567]

I have a paypal account , but I've only used it to pay for stuff.

if I sell something to someone ( not from ebay) and they pay for it using paypal how do I verify its been paid for. is there any wait time (like days), or is it instant?

I want to know if I can ship it right away as soon as I see the funds in my account.

 

[blueline]

I have a paypal account , but I've only used it to pay for stuff.

if I sell something to someone ( not from ebay) and they pay for it using paypal how do I verify its been paid for. is there any wait time (like days), or is it instant?

I want to know if I can ship it right away as soon as I see the funds in my account.

It is instant. As soon as you see it in your account, the transaction is complete, you have the funds and then you can ship.

 

[islandman4567]

ok,

thanks.

 

[ixlr82]

Paypal is not guaranteed for services. You actualy have to have something shipped to you and receive it in order to use the buyers protection..

 

[Dodger]

I initially resisted Paypal as a payment option due to fees, but have since relented and frankly it is easier and less time consuming than M/O's and cheques. The money is there quickly, in most cases, there is some delay for those users that pay by E-cheques, but notification is good and Paypal notifys you when the payment has cleared.

Overall I would say it is a good service and so far I cannot complain about anything. The transfers have a minimum dollar value which attracts a charge but a reasonable limit of I think $150. US and above is free. The time for the transfer is a little long about 5 days but hey that is still better than the postal service in most cases. Also leaving some money in your account allows for quick easy purchases as well.

 

[islandman4567]

for the guys that buy a lot from the states , do you keep a seperate account for US funds and CAN funds?

I wanted to know if I could setup a separate one to avoid the currency conversion fees.

 

[Dodger]

It is only a US dollar system. The conversion happens when you transfer funds either in or out. Otherwise it is only expressed in US funds

 

[tboy]

First off, is this for an item sold through ebay? If so, use paypal. It protects the seller as well as the buyer.

If it isn't through ebay, then I reccommend using email money transfer. It is easy but it does cost. CIBC charges $5.00 per transaction for the sender. It takes about 20 minutes for the email to get to you and then you deposit it directly into your bank (as stated).

If you have an paypal account already, you're good to go to receive payments.

As for shipping, all couriers provide a tracking number as does Canada Post. In my experience Canada Post has ended up being the cheapest overall but that will depend on what you're shipping. All have online cost calculators to help aid in finding out what the cost will be. Though you should have done all this before selling the item (I take it you haven't sold it yet?),

 

[Gyaos]

I want to know how secure paypal is.

As secure as them stealing about 4% of your cash in one (1) transaction. Then losing your money if the other party retracts for any reason. Then freezing your account without notice for any reason for 6 months (that's a long time). Then having insiders inside Paypal phish you to get more out of you.

Paypal is an illegal company and an illegal system. I see Paypal going out of business in about 3 years when they are caught and liquidated as an S&L Loan equivalent or worse, everyone's cash will be lost and non-recoverable, like a mini-depression.

Think it won't happen? Do you think one day their "server" and "back up" will NOT be stolen and thrown into the Pacific Ocean? Think your "small amount" of money is safe as a virtual number and not insured or invested? Multiply that by all the accounts of "small money" in "x" number of countries under mutually exclusive banking laws in which Paypal claims they themselves are not a bank? Lots of pissed off people all over the planet, coming up. A Katrina can hit Paypal and then they don't pay.

Ask your banker to insure a Paypal transaction and they will tell you to go fry an egg.

Gyaos Baltar.

 

[Robio]

I had a problem with pay pal

I want to know how secure paypal is.

I've heard that you can still get siffed when receiving funds.

should you wait for a few days for the funds to clear?

if the person paying says they didn't receive the item , how do you prove it was sent? always ship with tracking?

Every thing was going well then one guy I guess had buyer’s remorse decided to get his money back even thought he got the item he ordered. It is in dispute right now but that amount is locked up an unavailable until pay pal reviews it. It has been over 20 days I m not impressed even if it does end up in my favor why is my money locked up when I do not have the item nor the money. Pay pal should not be able to evasively tamper with your account but I guess they are governed by American laws and not ours

 

[PussyHunter]

If you receive money through Paypal pull it out immediately. If the buyer disputes it they will freeze the money till it is settled which can take 6 months and if they rule in the other guy's favour your out the item you sent as welll as the money. If the money is removed from the account then there is nothing that Paypal can do. A lot of buyers will claim they didn't get the item and lodge a dispute that will tie up your money and time.

If you pay through Paypal ALWAYS use a credit card for the transaction. Buddy of mine bought an item from an online retailer. Item never showed from Germany. He lodged a complaint with Paypal and after the investigation ruled in his favour they told him there was no money in this guy's account to pay him back so the mattter was settled.

He called the credit card company and told them he paid for this item and never received it. Told them he paid through Paypal and told them about the complaint. They said the payment was to Paypal not the seller as far as they were concerned and returned his money next day. They took it back off Paypal on his behalf.

 

[Robio]

that sounds like a rule for buyer what about seller getting scamed by buyer and paypal