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Old 23 September 2019, 03:52 AM   #1
docmarioce
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Paypal fees

Hi friends.
I am selling a watch and I am trying to close a deal. I want to receive payment via Paypal. Haven't received payment in the past this way. Anyone know about the fees that have to be paid and who pays the fees?
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Old 23 September 2019, 03:54 AM   #2
TreiseKL
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3% and it will be the seller's responsibility. You'd only do this if you have no reputation for a wire transfer.
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Old 23 September 2019, 04:01 AM   #3
docmarioce
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Thanks!
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Old 23 September 2019, 04:01 AM   #4
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Originally Posted by TreiseKL View Post
3% and it will be the seller's responsibility. You'd only do this if you have no reputation for a wire transfer.
This.

And never mind the fees.

Did you CYA with everything else?
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Old 23 September 2019, 04:06 AM   #5
docmarioce
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Quote:
Originally Posted by chewbacca View Post
this.

And never mind the fees.

Did you cya with everything else?
cya?
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Old 23 September 2019, 04:11 AM   #6
docmarioce
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Quote:
Originally Posted by Chewbacca View Post
This.

And never mind the fees.

Did you CYA with everything else?
I found CYA in the internet. What is everything else?. I haven't sold here in years.
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Old 23 September 2019, 04:15 AM   #7
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Originally Posted by docmarioce View Post
I found CYA in the internet. What is everything else?. I haven't sold here in years.
You insurances as a receiver change depending on how and why you're getting the funds.

Is it a gift, cash for services or goods, tied to an eBay auction, etc...

PP will hold the funds if you're new and the Buyer could file claims up to many months after if there's an issue.

Its well documented, and why many many sellers insist on transfers via wire.

Remember, PP is not a bank.
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Old 23 September 2019, 04:20 AM   #8
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Hmm interesting. Is not that easy. Great to know. I have been a client of PayPal for years and I am selling to a member here in the forum. Anyways... I think I'll stick to wire transfer or I'll be keeping the watch.

Thanks!
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Old 23 September 2019, 04:21 AM   #9
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Quote:
Originally Posted by Chewbacca View Post
You insurances as a receiver change depending on how and why you're getting the funds.

Is it a gift, cash for services or goods, tied to an eBay auction, etc...

PP will hold the funds if you're new and the Buyer could file claims up to many months after if there's an issue.

Its well documented, and why many many sellers insist on transfers via wire.

Remember, PP is not a bank.
If it is a gift... Do the fees apply?
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Old 23 September 2019, 04:28 AM   #10
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If it is a gift... Do the fees apply?
Last I checked, depends on the amounts and your status with PP. I'm not familiar with current 'gift' rules.
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Old 23 September 2019, 06:34 AM   #11
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You better educate yourself better on Paypal. Many scams using it on Sellers. Especially when your trying to skirt the 3% as a gift. You may not have any recourse. The scammers are getting very creative. Did you start this transaction or did someone here with a very low post count contact you first? If your radar is going off its probably right. Dont be the next guy starting a thread in the watchout section.
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Old 23 September 2019, 08:27 AM   #12
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I would avoid PP. All the buyer/seller has to do is file a claim....then you will have to prove everything else. In my case, a learning experience, I was ignorant and assumed I was covered by PP as a buyer. Its a false sense of security. I paid through PayPal, and never received the watch. However, because the seller provided a tracking number, PayPal closed my case and I was out $7000. Long story short, I ended up prevailing thanks to the help of a postal worker in New York who had the package and took a photo of it for me....proving the package was a fraud. Otherwise, I would have been out of luck. I will never use PayPal....buying or selling.
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Old 23 September 2019, 12:34 PM   #13
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Thanks to all. So my only option is wire transfer. That is the most secure right. Once the money has been transferred cannot be returned right?
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Old 23 September 2019, 01:10 PM   #14
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Wire transfer is the best option, but many here are fearful of a seller scam so won't send a wire. If you have limited feedback and transactions a face-to-face deal is a great way to go if feasible.
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Old 23 September 2019, 10:24 PM   #15
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Wires seem to be the best way if you cant do a FTF for the seller. However they can be reversed but only have a limited time to do so before the funds are removed. Thats why scammers keep people hooked for a few days till the funds have been removed and then radio silence afterwards. Scams run both directions.
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Old 23 September 2019, 11:12 PM   #16
JohnnyMack
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Do not use Paypal...Ever!!

I sold a Rolex (full packaged..Watch, Box, Warranty Card, etc.) legitimately thru PayPal. Listed properly, and explicitly documented its condition, to include any extra pictures the buyer wanted (about 10). I clearly stated that all sales were final. The buyer appeared legit and was fairly local. It took about a week for the buyer to completed the sale's transaction, along with a whole bunch of excuses of why funds were not transferred promptly.

However, once he submitted his funds in full thru Paypal, I then shipped the watch via FedEx with tracking and insurance. The buyer did receive the watch (with proof), but then wanted $600 of refunds to polish the watch. I told him no. He then wanted to return the watch, I told him again all sales were final now that he had the warranty card, serial

Within about 1 day of delivery, (because I am not new to Paypal), the funds were released from holding. Getting a suspicion that this was a fraud case about to happen, I quickly liquidated the account by transferring all funds from Paypal, including those from the recent Sale of the watch.

About two days later, the Buyer called his Credit Card company, and stated that the "product was not as described" to reverse the funds. Paypal immediately will comply to the Credit Card company's request to reverse funds, w/o any investigation. They will not even hold funds until proof of return. Even though they say they will, Paypal does not do anything for the Sellers, except hand over the first rebuttal document you submit to them.

Paypal immediately dismisses themselves from the situation, stating it is between you and the Buyer, for claims of "not as described" and requires no proof of return!
I politely requested Buyer numerous times to return the watch, and now have opened a fraud case with local PD, to at least try to get the watch returned. Bottom line is I have the cash only because something did not feel right, to action to liquidate the Paypal account immediately, but also have all the documents to show that Paypal did not handle the transaction properly.

Will never ever use Paypal again for any transaction.

So the biggest scam going, is to purchase something via Paypal, and claim something is "not as described." Paypal will immediately comply to not piss off the buyer and reverse funds immediately.

BTW...you may also get a fraudulent emails from with Paypal letterheads/logos, that appear legit that state that funds have been transferred and for you to ship the product. The emails contain "Help Numbers" for you to call that appear to Paypal agents. It is all fraudulent activity. So in my experience with Paypal, and my learnings going forward, it is cash-in-hand.
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Old 24 September 2019, 04:54 AM   #17
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Hmmm interesting stories. Thanks Guys for sharing!
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Old 25 September 2019, 01:00 PM   #18
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Thanks for the lessons.
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Old 25 September 2019, 01:28 PM   #19
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So the biggest scam going, is to purchase something via Paypal, and claim something is "not as described." Paypal will immediately comply to not piss off the buyer and reverse funds immediately.
That's not correct. If a buyer files a claim you have 20 days to sort it out before PayPal gets involved.
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Old 25 September 2019, 10:31 PM   #20
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That's not correct. If a buyer files a claim you have 20 days to sort it out before PayPal gets involved.
I am correct, because I am speaking about a "Charge Back" to which the Buyer immediately goes to their Credit Card/Financing Company, external to PayPal. PayPal will only hand over your initial rebuttal submittal but will IMMEDIATELY reverse funds in the Paypal account. No Proof of Evidence or Proof of Return.

The Buyer then never returns the item and the Buyer can ask for a Charge Back anytime (I believe most CC Companies are ~6 months.)

You are talking about an internal PayPal "Claim". The buyer can escalate to a "Case" before the 20 days to which Paypal goes through its "Dispute Resolution" process. That is where Paypal gets involved. In this case, my Buyer did open a claim initially, escalated to a Case, but lost the Case because of my documentation and his lack of response. However, he chose to Charge Back a head of the Case being finalized (because he knew he had lost.)

I should have been smarter in not using PayPal at all, but I thought I had all my bases covered.
1. Well documented write up with significant Photos.
2. All sales are final language
3. Waited for all funds to be deposited
4. FedEx Delivery with Insurance
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Old 26 September 2019, 12:03 AM   #21
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With all the scams, headaches and fees I would do face to face at a bank or trade it to a dealer. Good luck.
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Old 26 September 2019, 02:10 AM   #22
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That's not correct. If a buyer files a claim you have 20 days to sort it out before PayPal gets involved.
Seems legit....

And until the brick with a tracking number comes back to you, your money is held and you're running for the booze to calm your nerves.

But once it shows as Delivered and Returned, case closed.

Sounds fair.
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Old 26 September 2019, 07:29 AM   #23
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I am correct, because I am speaking about a "Charge Back" to which the Buyer immediately goes to their Credit Card/Financing Company, external to PayPal.
Why are you getting mad at PayPal then?
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Old 26 September 2019, 12:58 PM   #24
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Well, another option is to sell on Chrono24 and pay the 6.5% fee (of the watch price and the agreed upon shipping amount). But you do get the peace of mind that there is an escrow account holding funds until everyone is happy. I've sold on Chrono24, and bought here on TRF some very expensive watches.

I found actually talking the other person on the phone will help give you a good "gut feeling" if the person is honorable, or not. Ask the questions, listen to the answers. Are they believable?

It's a scary world out there with all the scammers. You just have to take precautions. I had a buddy tell me he videos himself at the FedEx counter showing the watch, placing it in the box, taping it up, and handing it to the FedEx worker (and getting his/her name). If someone were to accuse you of "shipping a brick" you can defend yourself with the video evidence. Ugh. What a pain. And yet, I haven't heard this would even be sufficient with PayPal or the credit card companies. Do they really want to watch videos? That would take actual work.
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Old 27 September 2019, 02:29 AM   #25
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Why are you getting mad at PayPal then?
God Lord......if you feel safe using PayPal or an other online service, have it. Just stating my recent experience and interaction with their Service to which they are paid a fee/commission to execute. I have learned my lesson, luckily have the cash, but now need to deal with their BS after.
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