Possibly stupid question about paypal

Pycroft
Pycroft Posts: 1,960
edited July 2010 in The Clubhouse
Hi all...

I've never used paypal as a seller - only to pay for something I am buying. I have a question. I may be selling my preamp to someone I have never dealt with. He seems like a straight-up guy who belongs to a number of other reputable websites, etc. etc. He was asking if paypal was okay as payment. Since I've never used it in this capacity, is there anything I should be looking for as far as scams, etc. or is it pretty safe? Also, once it's in the account, what can I do with it? I know I can use it to pay someone else for something. if I needed cash, will they send me a check for the money that's in there?

Thanks, and I look forward to your opinions.

James
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Post edited by Pycroft on
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Comments

  • Toolfan66
    Toolfan66 Posts: 17,212
    edited July 2010
    They will send you a check or transfer the funds to your bank account if you request it that is..
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  • Toolfan66
    Toolfan66 Posts: 17,212
    edited July 2010
    I have done many transactions with paypal and have yet to have a problem. Make sure he covers your paypal fee 3.5%.
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  • TouchOfEvil
    TouchOfEvil Posts: 967
    edited July 2010
    TOOLFORLIFEFAN wrote: »
    I have done many transactions with paypal and have yet to have a problem. Make sure he covers your paypal fee 3.5%.

    You can ask that they do this however it is against PP rules.
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  • tcrossma
    tcrossma Posts: 1,301
    edited July 2010
    Where does this 3.5% fee number come from? I thought PayPal charged 2.9% + $0.30?
    Speakers: Polk LSi15
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  • heiney9
    heiney9 Posts: 25,164
    edited July 2010
    TouchOfEvil wrote: »
    You can ask that they do this however it is against PP rules.

    Only if you are using Ebay. FWIW, I always build the 3.5% into my minimum opening bid or my BIN or simply add it to the shipping cost when using Ebay. There is no issue asking for the 3.5% when selling privately or on CL or Audiogon, etc.

    H9
    "Appreciation of audio is a completely subjective human experience. Measurements can provide a measure of insight, but are no substitute for human judgment. Why are we looking to reduce a subjective experience to objective criteria anyway? The subtleties of music and audio reproduction are for those who appreciate it. Differentiation by numbers is for those who do not".--Nelson Pass Pass Labs XA25 | EE Avant Pre | EE Mini Max Supreme DAC | MIT Shotgun S1 | Pangea AC14SE MKII | Legend L600 | BlueSound Node 3 - Tubes add soul!
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  • JimKellyfan
    JimKellyfan Posts: 696
    edited July 2010
    heiney9 wrote: »
    Only if you are using Ebay. FWIW, I always build the 3.5% into my minimum opening bid or my BIN or simply add it to the shipping cost when using Ebay. There is no issue asking for the 3.5% when selling privately or on CL or Audiogon, etc.

    H9


    zacaly

    just build it in, next time if you have to
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  • TouchOfEvil
    TouchOfEvil Posts: 967
    edited July 2010
    heiney9 wrote: »
    Only if you are using Ebay. FWIW, I always build the 3.5% into my minimum opening bid or my BIN or simply add it to the shipping cost when using Ebay. There is no issue asking for the 3.5% when selling privately or on CL or Audiogon, etc.

    H9

    Was not aware of that. Good info.:)
    Living Room Rig:D
    Rotel RSP-1069/Rotel RMB-1095/Rotel-1072/Polk lsI15's W/modded xoverW/DBsubs/Polk LsiC/lsI7's/Klipsch sub-12"the weak link"/DLP Mitsubishi 65"
    Xbox360/PS3/WII
    M.Br. setup:)
    Emotiva MMC-1/Rotel RMB-1075/Polk BlackStone TL350's/Velodyne SPL1000/Samsung 51" Plasma
    Computer Rig:
    Rotel RB1050/Tannoy DC4's/Klipsch RW-10d/ImodIpod/HK AVR230 for now....
    Headphones-Ultrasone-HFI780's w/LittleDot MK Vamp Portables Panasonic HJE-900's
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