Edited - Timepiece Gentleman

[Moondoggy]

Originally Posted by shaunylw

If you want to do a $3,000 deposit prior to a wire, ok. Why would you list each watch as $3,000? Why wouldn’t you list it at the price you are selling, then note their is a $3,000 deposit?

Second, you’re charging a $3,000 deposit, then refunding it once you receive a full wire. Why wouldn’t you subtract the 3k from the total price and take the wire for the remaining amount?

The scary thing is the collective group of them couldn’t figure this process out. This was the best they could come up with .


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but the trolling they would be getting I would imagine is off the wall, they want $3,000 PAYPAL to verify the buyer then the remaining can be any method I would assume.

[shaunylw]

Originally Posted by Moondoggy

but the trolling they would be getting I would imagine is off the wall, they want $3,000 PAYPAL to verify the buyer then the remaining can be any method I would assume.

I hear ya, i don’t think the $3,000 is a terrible idea to weed at the trolls. But why not subtract the 3k from the total invoice when they send the final payment wire? I don’t know many people willing to PayPal 3k as a goof, then refuse to pay the invoice and ask for a refund.


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[arbeiza]

Originally Posted by shaunylw

I hear ya, i don’t think the $3,000 is a terrible idea to weed at the trolls. But why not subtract the 3k from the total invoice when they send the final payment wire? I don’t know many people willing to PayPal 3k as a goof, then refuse to pay the invoice and ask for a refund.


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Because this way there is no real transaction and no fees from PayPal. PayPal will just authorize the 3K in the Credit Card, and then release them after the wire is confirmed. If there's no wire, they will capture the funds and pay the PayPal fee (which is not an issue because... that's just free money, so it's ok to lose 3%).

This is just dodgy AF, and if they keep doing that, PayPal will eventually cancel their merchant account. Yet another example...

[shaunylw]

Originally Posted by arbeiza

Because this way there is no real transaction and no fees from PayPal. PayPal will just authorize the 3K in the Credit Card, and then release them after the wire is confirmed. If there's no wire, they will capture the funds and pay the PayPal fee (which is not an issue because... that's just free money, so it's ok to lose 3%).

This is just dodgy AF, and if they keep doing that, PayPal will eventually cancel their merchant account. Yet another example...

Oh… got it. That makes total sense.


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[77T]

Originally Posted by shaunylw

Oh… got it. That makes total sense.


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Except his post isn’t true…fees apply to any payment a seller receives - even if the seller refunds the full amount.

You can see my post a few dozen upward.


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[arbeiza]

Originally Posted by 77T

Except his post isn’t true…fees apply to any payment a seller receives - even if the seller refunds the full amount.

You can see my post a few dozen upward.


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There's still the way of just doing an authorization on the card to lock the funds and then void the authorization when the wire is received, before the capture.

This is a good way to guarantee solvency and fend off ballbusters without incurring fees, with the drawback that TPG wouldn't be able to dispose of the 3K. Also if they keep doing this, PayPal will probably cancel their account.

[trout_thumper21]

From “I’m so sorry” to “The whole world is watching”. This guy

[47Fountain]

Originally Posted by arbeiza

There's still the way of just doing an authorization on the card to lock the funds and then void the authorization when the wire is received, before the capture.

This is a good way to guarantee solvency and fend off ballbusters without incurring fees, with the drawback that TPG wouldn't be able to dispose of the 3K. Also if they keep doing this, PayPal will probably cancel their account.

For some reason, they weren't allowed to take Credit Cards previous to this whole debacle. I highly doubt that has changed.