PSA - Paypal Gift is the worst possible way of transacting in M2M

[yodog]

Hi all,

Just wanted to remind members that taking Paypal gift as a seller on M2M is probably the WORST way to accept monies. I was just charged back a very large sum of money while taking PP gift payments, because the buyer had funded the gift payment with a credit card. All the buyer has to do is call the issuer of that card, say it was fraud and unauthorized, and you immediately lose the dispute. Paypal cannot help in any way, all they do is simply deduct your balance or put it in a negative balance. No matter what evidence you provide, it won't matter because now you are fighting a bank and not with paypal. There is also the conundrum that even if you provide tracking, shipping, PROOF of delivery, if the payment was sent as GIFT it is against Paypal's TOS.

Stay vigilant, what they say about "buying the seller" rings true of "buying the buyer"

 

[drphillyfly]

What are your thoughts about banktransfer?

Thanks

 

[yodog]

I know for myself, I will only be taking bank transfer going forward, period. This was a very expensive lesson.

 

[Tschacko]

Oh no ! I hope it was not the fucking guy from Hamburg again

 

[Art Tic]

Sorry it happened to you, my friend.
Karma will get the scumbag!

 

[gatty]

yodog I'm guessing it was a sale here?

 

[freediver]

i hate these guys

I was lucky in my transactions but is something can happen to anyone

 

[Ams55557]

Sorry yo, I saw that dude by 6 watches in a week. I was in awe that someone actually was doing the shopping spree that I always wanted to do. Guess there’s a reason.

I wonder if there is an etherum solution for this sort of thing.

 

[hanski]

First, that sucks! Sorry it happened to you.

Can you give us any other insights into selling the buyer? Was this a newbie? Any signs of it going bad before it did (in hindsight)? And obviously has this person been banned and the other sellers contacted about this as the post above me eluded to?

Oh, and are we gonna release some personal info so we can tar and feather em?

 

[Glaude]

People have the false impression that because they use or ask Paypal Gift or Friends and Family as it's called now, you are protected against chargeback, but even without going as far as to call the bank to issue a chargeback against Paypal, as in Yodog's case, Paypal gift can still be charged back, we've seen it in previous issues via the HD.

I'll not detail how it's done, but just be aware, that when you can and by agreeing with the seller, use another method of payment if possible or choose your buyer/seller carefully !

 

[AlphaProt]

This sucks when this happened. Why are some people so dishonest!


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[john45]

Very sorry this happened. I know you to be very honest and straightforward in your dealings......

 

[efajri]

I am sorry that happened to you.

BTW, Wells Fargo Zelle is good for transaction.


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[p0pperini]

I really prefer TransferWise if it’s an option. But I had no idea about this loophole with F&F PP.

Given that it’s the option used in 99% of M2M, I’ve been really lucky so far - having traded over 50 watches this year without any payment issues or bad experience.

So that’s a positive light to throw on this discussion and these rep forums - the vast majority of members are honest and trustworthy folk.


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[hm11esh]

Sorry to hear that. Shame that one individual ruins the whole experience fro all.

Thank you for the heads up. I always use bank transfer anyway to protect myself

 

[samquigley]

Apologies for the noob question, but what are the best options (besides direct deposit, which the buyer could well feel uneasy about)?

 

[csthe]

I don't get why someone will scam for a price of a rep... It is not like we talk in millions here...

 

[p0pperini]

I don't get why someone will scam for a price of a rep... It is not like we talk in millions here...

It’s an interesting perspective that scamming isn’t worthwhile unless the amount involved is millions...

It happens because a) thieves operate at all levels of the economic spectrum, and b) the sums involved are significant; reps can be worth high hundreds, to thousands.

Anyway, the loss of £50 to a thief would hurt me. And as the OP is pointing out through painful experience, it’s easy money for a scam artist. And scammers love easy money.


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[tripdog]

I don't get why someone will scam for a price of a rep... It is not like we talk in millions here...

Because it's easy ?

 

[yodog]

Apologies for the noob question, but what are the best options (besides direct deposit, which the buyer could well feel uneasy about)?

If you are in the US - Zelle/Venmo

International - Bank Wire/Transferwise

Hell an envelope full of cash is better than fuckin' Paypal.