Paypal, easy to get scammed?

animal52 · #1 11-13-2009, 10:12 AM

I'm appealing to some of you who have more experience with paypal than I do. I have a potential buyer telling me that he can't get his paypal funds because paypal only allows $500 a month in transfers. He's offering me 1/2 in cash, 1/2 thru paypal today. My gut feeling is that there is something fishy about this. Does anyone know the ins and outs of paypal enough to tell me if this is a scam? What's the safest form of funds transfer on paypal? Thanks everyone.

**Freddels** · #2 11-13-2009, 10:17 AM

I don't remember ever having a problem like that. There might be a limit if his account is not verified but I'm not sure about that.

Bastard · #3 11-13-2009, 10:19 AM

From my experience with paypal, you can send as much money as you want but you can only take a certain amount out and put it in your bank account. Maybe this guys a little confused, but there should be no reason he can't send you all the money at once.

bongomania · #4 11-13-2009, 10:20 AM

He's at least telling some truth, because unless you have your account linked to a non-paypal credit card, they do limit withdrawals to $500 a month.

That said, I don't like transactions where the buyer has to finagle the money from somewhere and make excuses.

unclekebm · #5 11-13-2009, 10:22 AM

make sure he's 'verified'
then after and only after you see the funds in your account
you can give up the product

warning: there are 'acammers' out there using PayPals letterhead...
saying that there's a 'hold' on the money until you ship or hand over the product

the key is: Only hand over or ship the product if the $$ is actually in your PayPal account

RWP · #6 11-13-2009, 10:36 AM

1/2 cash & 1/2 paypal is a good deal if by cash you mean $$ in your hand.

animal52 · #7 11-13-2009, 10:51 AM

That's what was meant. Whether or not the cash ever materializes is something else entirely

OK, so I should make sure the guy is verified. Now, if he has the funds in his account, I should be able to get an instant payment, right? Is there any chance that the payment could bounce like a bad check?

On a different note, do you guys ever get a little sketched out inviting someone from craigslist to your place to try out some gear? I sometimes worry that this person now knows where I live, and what sort of valuables (mostly bass gear) I have. This is the situation at the moment because I'm sure as hell not gonna drive to Baltimore. Anyone ever choose a neutral ground, such as a nearby guitar center?

unclekebm · #8 11-13-2009, 10:59 AM

IMO neutral ground is best...

It doesn't matter if the 'funds' are in his account
When you see the funds in your account, not pending, but actual spendable $
then you can finish the transaction...

As far as 'bouncing', No it won't, but..
He could file a claim, saying that you didn't send the item as advertised or he never received it
But I doubt that would happen and the 'truth' would be sorted eventually by PayPal

Do Not believe what any one says to you!!
Proof is Actual $ in Your account - No $ No sale Period!

animal52 · #9 11-13-2009, 11:05 AM

word, thanks again everyone

If this happens, I'll go for the local GC only after the money is in my account.

This is the end of gear hunting/trading/buying/selling for me. Time to slim the herd and focus on playing my gear.

RWP · #10 11-13-2009, 11:16 AM

You can never be too careful, so meeting somewhere away from your house might not be a bad idea. Sad we have to think that way. Ask him to leave positive feedback as soon as possible. That closes the deal with paypal. The buyer would have a hard time proving a paypal claim after leaving positive feedback.

Steve · #11 11-13-2009, 01:10 PM

Tell him to take the money out of his paypal acct, add it to the money in his hand and send you a USPS money order.

It's his problem, not yours.

IMHO

Pilgrim · #12 11-13-2009, 01:17 PM

very simple. HE gets the bass AFTER and ONLY AFTER you have all the money.

He can pay you half now, and you'll fill out a bill of sale showing that the other half is due before you will deliver. both of you get a copy - he has a receipt for his cash and you have protection.