Any cons from getting a paypal payment from an international buyer

I am selling a car part to an international buyer and I wanted to know if there was any cons to taking payment by Paypal?

Any other ways to take payment?

 

Sent you a PM.

 

Once the loot hits your PayApl account , there's really no way you can get burned as the seller...just make sure the agreed transfer price is in US funds. Of course you'll have to pay the usual PayPal fees.
The next thing the guy will probably want you to do is lie when you fill out the shipping form - mark the value way down or list it as "gift" so he dosen't get hit with a high import duty on his end.... not sure what the consequences are (if any) if you get nailed doing this.

 

There is the Credit Card kick back~denial thing,,and also where the Buyer receives the part and changes it out with a worse part, takes a picture of it in the just opened box and then files a claim.
Yes,,once the money hits PayPal send it on to your personal account quickly. I've shipped car parts all over the world and never once had a problem. I have 1013 Positives, no Negs so far,lol.

 

I would not do it with Paypal. Get the money into your bank account where no one can dispute it.

 

In this day and age PayPal is about the safest,,First would be US Postal Money Order.Then Bank to Bank wire.

 

On a parts deal you're pretty safe, do use a shipping method that allows for tracking so you can prove it got to him if he tries to dispute it.

I've got to the point I'll only buy parts that I can pay with paypal because I've been burned too many times sending money orders.

 

I use PayPal all of the time, but don't trust it; it seems like too many things could go wrong, if one knows the system and is a little crooked.

 

set up a separate checking account associated with your Paypal , and use that only for Paypal. do not have any ready reserve or credit line on that account. do not use your business account! transfer the money received immediately to that checking account and withdraw the money before you ship out the parts

i have a Paypal debit card and i immediately take it out of my Paypal account.if someone wants to file a claim....justified or not...there is no money for anyone to take

 

This is the same advice my banker gave me. All a buyer has to do is file a chargeback claim to Paypal and you loose your money and your paypal account gets frozen until it is resolved.

 

Wow! The Best advice I forgot to mention. I did exactly that,,,set up a seperate account for eBay/PayPal only(even though they are the same company).
Theres tons of stories of accounts being frozen by PayPal and it was also the Homes Personal account. PayPal can and does lock the account that is associated with the transaction.

 

That's the exact same way I do it. Keep it separate from your business or personal account.

 

there is absolutely no seller protection with paypal. especially on an international transaction. you need to ship with delivery confirmation which is viewable online. if you don't all the buyer has to say is they did not receive it and they get it for free no questions asked.

for any seller who thinks paypal is safe they are incredibly wrong.

what's the item and how much money are we talking about?

the old separate accounts and pulling the cash immediately only works if you are willing to have it go to collections and have a ding on your credit score as well as never using payscam again

 

Theres tons of stories of accounts being frozen by PayPal and it was also the Homes Personal account. PayPal can and does lock the account that is associated with the transaction.

paypal can only lock your paypal account. there are certain ways they can sneak into your bank account, but only if you continue to use them after a dispute has been filed.

 

Make sure the payment clears in Paypal and then immediately transfer the amount to your bank account. I use Paypal a lot with international customers with no problems. I try not to keep a high balance in the account though.

 

Does the same apply (separate account - transfer out ASAP) for selling a car to an international buyer using paypal.

I will have car for approx 2 weeks after money transfer before it is shipped.

Any other suggestions to protect myself???

 

I am in the shipping business. If you ship, don't use the post office, it becomes very hard to track packages internationaly where 2 post offices are involved. Second state FULL VALUE and INSURE for FULL VALUE. If the package is lost/damaged and you insured for less than value the buyer is going to want his money back and you will want full value for the item you sent.
Yes FEDEX/DHL/UPS are more expensive than the PO, but you get what you pay for.
Duties and taxes/VAT etc are to be paid by the buyer. The buyer might consider them to be extremely high and not want to pay them. With many foreign countrys you will have to pay all DUTIES/TAXES etc to get the PACKAGE BACK. The return shipping will also be paid by you. Of course you can abandon the item in the foreign country, but the buyer will not have received the item and then will file a claim with paypal etc.
Lastly, DO NOT SHIP TO AFRICA.

nick

 

This is exactly how I did mine.

My question here is how long do you have to wait until the money is actually yours? My bank has told me something similar. Once the money is in your PayPal account and you transfer it into your bank account, I think that PayPal could put a hold on it or charge back.

 

Bank to Bank wire, cleared funds on your account is the only way to go. As others have said, PayPal has claw backs which opens up all sorts of possibilities for scams. If the buyer has a problem with bank to bank wire I would question their integrity.

An escrow account is another option, which means the money is held and not released until the buyer has received the car. Pre digital age I used to do this with a Letter of Credit and the money was released upon customs clearance fron the outgoing port of shipment.

 

if its for teh aluminum head,,first realize you won't get teh full amount paypals gonna take about $40 bux,,and to cover your buttt,,insure it and keep teh customs invoice

also make sure to state in your invoice

"This item is used and sold AS-IS,,no Refunds,,by sending payment Buyer agrees to these terms"

Cover yourself in your invoice

 

imo, there is always the possibilty for a problem in nin face to face deals.

paypal, can be a problem if the buyer used a credit card to back it. pp dont like to get in the middle of disputes unless its an ebay deal, as ive tried before.

but, if the credit card co stops the payment to them, they will try and get the money back from you.

all in all pp is a pretty good system, but dont count on too much assistance from them.

i too, take the money right out of the pp account upon reciept, and move it else where.

skull

 

Bank to bank wire transfers , only way to go.

I've been doing it 2 to 3 times a month for almost 14 years now, never lost a dime.

 

Bank to bank wire transfer. Set up a separate cking acct to use only for wire transfers, and immediately transfer funds deposited there to your regular account. It's free, it's safe, and you won't get burned.

 

If I was selling a car internationally and did not know the buyer real well I would only accept a wire transfer .

I also had a deal on Paypal where I sold a ot 4x4 truck to a buyer in Fl. They payed by PP and then came to get the truck. It was raised with big tires and barely fit on the u-haul trailer hanging over all 4 corners and their truck got stuck trying to pull out of a dirt road. While the road was blocked and we waited for a wrecker I took pictures of it loaded on their trailer. These would later prove to save me.
I was soon able to get around them and headed home while they got pulled out. The following day I got a notice form PP freezing the funds and they claimed they never picked the truck up. After going back and forth for two weeks PP was still going to give them their money even though I had pic and it was not until I threatened fraud charges that the buyer dropped the claim. Had I not taken pictures of it in their possesion it could have turned out worse. Apparently they sold the truck to the wrecker company becasue they knew they could not safely tow it back to FL. Bottom line make sure you cover yourself first and if it doesn't feel right it prob is not.

 

I never had any issues selling parts or car to an overseas buyer using paypal

 

If the other party in the transaction is honest, there will likely be no problem. If not, you could be in for serious problems. I would investigate a more safe route.

One of my customers is a programmer at PP, and even he suggests a more secure route for international transactions.

 

There is Nothing wrong with pp except the transaction fees.. as for recourse , if its not a Epay purchase.. there is no recourse.. just make sure you send the item with a signiture conformation.. as every sale should be.. I also would not send till the payment clears from pp to your account.. Ive had a few that pay with insuffisant funds only to have it removed from the account..

 

Ahem.

Speaking as a "furriner" using Paypal is the easiest way of handing my (very) hard earned cash to someone who I,m wanting to buy parts off of.
I did buy a car out of LA last year using the bank transfer method, no hassle, got a good friend to help me out with the cash handover but for buying parts, Paypal has got to be the best method for both parties.

Trust us! We want your stuff.

 

might even want to have it at seperate bank, as they have a tendency to tranfer the money out of your other account if there is a problem


skull

 

For a car the 3% paypal fees will suck.

Go to your bank, open a new account.

Get banks name
Bank address
Bank ??? number
Account number
Routing number
Email all this to your buyer.


Get buyer to deposit cash via an international electronic transfer

Once cash arrives transfer into your normal account.

Have done this MANY times and its the cheapest safest way.