AuctionCut

I just started selling and I sold my first two items this week. YEAH! Are there any downfalls to using Paypal or is it the best way to go?

Congrats on your first sale!

Paypal is the easiest way to be paid. You can accept the payment within minutes of the auction ending and easily withdraw it to your bank account within around seven days. As with any organisation that has grown to the size of paypal, problems can arise although they rare.

Make sure you protect yourself and only send the item to a confirmed address, otherwise you'll be leaving yourself open to the risk of chargebacks.

As the majority of eBay users also have an paypal account, the two services are pretty much intergated so it really is the way to go.

What do you mean by send an item from a confirmed address?
One more question, once my paypal account says that the buyer has transferred money into my paypal, is it okay to send or do I need to wait until the money is transferred into my bank account?

What do you mean by send an item from a confirmed address?

Users confirm their address with paypal to prove they actually live there. They can do this, by registering a credit/debit/bank account with paypal or responding to a letter sent from paypal.

When you get sent a payment, you need to check to ensure the address is confirmed. You can see this, in the delivery information contained within the email or by logging into your paypal account and viewing details of the transaction.

Click on the image below to an example of this information, next to Address status you'll see it is confirmed or unconfirmed. (address blanked out for privacy).

[img=mini]http://www.AuctionCUT.com/confirmedaddress.GIF[/img]

once my paypal account says that the buyer has transferred money into my paypal, is it okay to send or do I need to wait until the money is transferred into my bank account?

Yes - it's ok to send the item out then. Waiting for it to be transferred to your bank account will only delay the transaction unnecessary.

tskinner73 wrote:One more question, once my paypal account says that the buyer has transferred money into my paypal, is it okay to send or do I need to wait until the money is transferred into my bank account?

You are fine once the funds are in your Paypal account. If you choose to transfer to your bank, it will take another 2-3 business days.

I must have read the small print wrong on ebay, as I thought to transfer from paypal to my bank account took from 7-10 working days? Must check that as I am hoping to do my first transfer soon.

I must have read the small print wrong on ebay, as I thought to transfer from paypal to my bank account took from 7-10 working days? Must check that as I am hoping to do my first transfer soon.

It use to take this long - I done a transfer the weekend and it said 4 to 5 days (in the UK). May be different for a US bank account.

5-7 Working days I was told today, but am hoping this is the maximum amount of time it takes to transfer. People don't half like holding onto your money eh!

Hey

Paypal is not that good. I take it no one has had an account limited before. A good friend of mine had £1000 in his Paypal account Paypal then limited his account so he could not withdraw the money to his bank account. As I had also used his computer to check my Paypal account my account was limited as well, luckily I only had £100 in it. They did this by logging the IP address of the computer and said that my account was linked to another limited account.
The reason they gave was very vague to why they limited his account. He has only just got the money back now and this is 6 months later. Paypal can hold your money for up to 6 months to protect them from "charge backs".
So be very careful and empty your Paypal accounts on a regular basis and for any large sales make sure the money has gone into your bank account before sending the goods. Finally be careful which computer you use to log onto to your Paypal account the IP address is stored. Make sure you are the only person who uses Paypal from that computer.
Hope that helps.

A friend of mine wrote a review about paypal on eBay and received quite good feedback from it, you might want to have a look:

http://tinyurl.com/ygggcb

The new ebay is here!!!
They now have a monopoly with paypal. I tried signing up and using my own merchant account to accept payments. Ebay tried to discourage me in an effort to force me to sign up to paypal to accept payments. They have everyone brainwashed into thinking they are safe and secure. They are far from that. Look them up on The Better Business Bureau website. 7040 complaints against them since January and counting. Ebay and paypal will soon be a thing of the past with their fees going up and their scam and monopoly with Paypal is making people walk away. Paypal ALWAYS takes the side of the buyer. I sold an item to a buyer in California. I mailed it and they claimed they received an empty box. Paypal refunded their money-no questions asked!!
They are a scam.
Sell on Amazon.com.
Ebay's stock is dropping fast and Amazon's stock has skyrocketed.
You tell me that ebay is a great place to sell now.
Think about it before you bash me for stating the truth!!
BEWARE of the ebay success kits that are sold by ebay. Yes, every single one of them, and they are designed to make you use paypal to accept payments and not one of them mentions anything about moneybookers or any other payments accepted.
Ebay does not let sellers use Google Checkout because Ebay does not make money from payments that go through Google Checkout. They claim that their system does not support it but that is a load of crap.
Moneybookers is a horror show, once again an attempt to discourage you to use Paypal to accept Payments.
Paymate is allowed but only to power sellers. What are you supposed to use in the meantime?? You guessed it- Paypal!
Just remember, ebay is no onger seller friendly, and if you are considering opening an ebay business-be warned, and I hope you have a few thousand dollars to throw away to the greedy giants.



PERSONALLY I WOULD STAY AWAY FROM EBAY AND PAYPAL ALLTOGETHER.
AMAZON HAS MORE TRAFFIC, AND ONCE YOU ARE PAID, THATS IT!
THERE IS NO FRAUD, AND NO SCAMS OR MONOPOLIES.
MONEY GOES RIGHT INTO YOUR BANK ACCOUNT. NO PAYPAL TO DEAL WITH.
TRY THEM OUT!!
THEY ARE CHEAPER THAN EBAY TOO!!
LISTING IS FREE!!

Paypal claimed that there was suspicious activity with the credit card associated to my Paypal Account, and told me they can no longer provide their services to me. This is after I got tired of the ebay and paypal fees, and started, or tried to use my own merchant account to accept payments. They have a monopoly with paypal. This is the message they sent me after I told them I wanted my money as it has been longer than 6 months.
By the way, the credit card...I am still using it. There is absolutely nothing wrong with it and there never was.
Here is a copy of the message they sent me. After reading this, you tell me wehter or not they are a scam. Thank god I only had about $65.00.
I have filed a report against them with BBB.
Never got a response from them. They have over 7,000 complaints registered against them with BBB.

Thank you for contacting PayPal.

A review of your Account indicates PayPal elected to part ways with you
on March 21, 2009, via Case ID PP-659-551-227. Due to the risk
associated with processing payments on your behalf, PayPal will hold the
Account balance for 180 days.

Section 10.2 of our Legal Agreement outlines that if we have reason to
believe that you have engaged in any Restricted Activities, we may take
various actions to protect PayPal, eBay, a User, a third party, or you
from Reversals, Chargebacks, Claims, fees, fines, penalties and any
other liability. The actions we may take include but are not limited to
the following:
a. We may close, suspend, or limit your access to your Account or the
Services (such as limiting access to any of your Payment Sources, and
your ability to send money, make withdrawals, or remove financial
Information);
b. We may contact buyers who have purchased goods or services from you,
contact your bank or credit card issuer, and warn other Users, law
enforcement, or impacted third parties of your actions;
c. We may update inaccurate Information you provided us;
d. We may refuse to provide our Services to you in the future;
e. We may hold your funds for up to 180 Days if reasonably needed to
protect against the risk of liability; and
f. We may take legal action against you.

PayPal, in its sole discretion, reserves the right to terminate this
Agreement, access to its website, or access to the Service for any
reason and at any time upon notice to you and payment to you of any
unrestricted funds held in custody for you. You can review PayPal’s
Legal Agreement by clicking the “Legal Agreements” link at the bottom of
any PayPal web page and then clicking the “User Agreement” link.

We know situations like this can be difficult, so thanks for working
with us. If you have more questions, visit our Help Center by clicking
"Help" in the top right corner of any PayPal page.

There's no doubt if you trade on ebay you are putting yourself at the mercy of a potential monster. It's expensive to sell on ebay, not content with the money they take from you through ebay, they come for a second bite through paypal. If we sell on ebay we have to accept this. Make sure you factor in all the costs when setting your price. Including paypal costs. Unfortunately if you want to sell on ebay you're going to have to use paypal. Just make sure you add the cost to your price. Paypal and ebay are the same now ,so they could easily drop the transaction charge if they wanted, but they want to squeeze every penny from buyers.

I have lots of info on paypal hrere

http://ebaysellerreview.blogspot.com/