How safe is it to sell books and receive payment via Paypal?

[Wong]

I know a lot of people sell books here on the boards and receive payment via paypal. I recently agreed to sell a couple books (over $5000) and the buyer sent me an echeck payment via paypal. This is a non-eBay sale. According to PayPal, it takes 3-5 business days to clear. I would definitely wait for the payment to clear prior to sending the books out, but has anyone had any experiences where the buyer claims he didn't get the books or makes some other excuse to dispute the charges? Also, the person's adress is unconfirmed. PayPal says there is no Seller Protection on this deal since the address is unconfirmed. Should I go through with the transaction? Any other pitfalls? Any thoughts would be appreciated.

[RockMyAmadeus]

Insurance.

 

Insurance.

 

Insurance.

 

Pack the books to withstand a nuclear explosion.

 

Oh, and insurance.

 

Assume Paypal is no better than a personal check....because most times, it's not....and is often worse....and proceed from there.

 

Don't forget the insurance.

 

INSURE THE PACKAGE.

 

 

[Comicduck-migration]

I know a lot of people sell books here on the boards and receive payment via paypal. I recently agreed to sell a couple books (over $5000) and the buyer sent me an echeck payment via paypal. This is a non-eBay sale. According to PayPal, it takes 3-5 business days to clear. I would definitely wait for the payment to clear prior to sending the books out, but has anyone had any experiences where the buyer claims he didn't get the books or makes some other excuse to dispute the charges? Also, the person's adress is unconfirmed. PayPal says there is no Seller Protection on this deal since the address is unconfirmed. Should I go through with the transaction? Any other pitfalls? Any thoughts would be appreciated.

 

echeck simply means the seller probably doesn't have a credit card link to their account. Buyer isn't using a credit card and since the money is coming straight out of their checking or savings account they wouldn't be able to implement a charge back but they still could file a pay pal claim. Send the package with insurance and signature confirmation, better yet send the package registered mail with insurance. Registered mail is by far the safest way to ship a package. CGC ships all their packages registered mail.

 

 

[RockMyAmadeus]

I know a lot of people sell books here on the boards and receive payment via paypal. I recently agreed to sell a couple books (over $5000) and the buyer sent me an echeck payment via paypal. This is a non-eBay sale. According to PayPal, it takes 3-5 business days to clear. I would definitely wait for the payment to clear prior to sending the books out, but has anyone had any experiences where the buyer claims he didn't get the books or makes some other excuse to dispute the charges? Also, the person's adress is unconfirmed. PayPal says there is no Seller Protection on this deal since the address is unconfirmed. Should I go through with the transaction? Any other pitfalls? Any thoughts would be appreciated.

 

echeck simply means the seller probably doesn't have a credit card link to their account. Buyer isn't using a credit card and since the money is coming straight out of their checking or savings account they wouldn't be able to implement a charge back but they still could file a pay pal claim. Send the package with insurance and signature confirmation, better yet send the package registered mail with insurance. Registered mail is by far the safest way to ship a package. CGC ships all their packages registered mail.

 

 

Don't waste money on signature confirmation. Anything insured over $200 has to have a signature, anyways. Sig Conf. is just wasted money.

 

Registered mail is an excellent idea, and the insurance cost is significantly cheaper. It's charged per $1,000, not per $100 like regular mail. I send all my subs to CGC via registered mail.

 

By the way....people can dispute e-check payments, successfully. I have.

[Junkdrawer]

send it registered mail if you want to be assured of a safe delivery. this service provided by the usps is the safest way to transport a package as it travels under lock and key the whole way and a signature of every carrier and eventually the buyer signs. postal carriers have in the past left priority sig required packages on the door step. it happens. they would certainly loose the job for leaving a registered package this way. keep in mind the buyer has 45 days to open a case to get money back. for any reason. it helps to know your buyer a little or their reputation.

[Wong]

Thanks for all the feedback. I will definitely be sending it registered and insured...

 

So RMA, how did you sucessfully dispute e-check payments? Item not as described?

[Comicduck-migration]

I know a lot of people sell books here on the boards and receive payment via paypal. I recently agreed to sell a couple books (over $5000) and the buyer sent me an echeck payment via paypal. This is a non-eBay sale. According to PayPal, it takes 3-5 business days to clear. I would definitely wait for the payment to clear prior to sending the books out, but has anyone had any experiences where the buyer claims he didn't get the books or makes some other excuse to dispute the charges? Also, the person's adress is unconfirmed. PayPal says there is no Seller Protection on this deal since the address is unconfirmed. Should I go through with the transaction? Any other pitfalls? Any thoughts would be appreciated.

 

echeck simply means the seller probably doesn't have a credit card link to their account. Buyer isn't using a credit card and since the money is coming straight out of their checking or savings account they wouldn't be able to implement a charge back but they still could file a pay pal claim. Send the package with insurance and signature confirmation, better yet send the package registered mail with insurance. Registered mail is by far the safest way to ship a package. CGC ships all their packages registered mail.

 

 

Don't waste money on signature confirmation. Anything insured over $200 has to have a signature, anyways. Sig Conf. is just wasted money.

 

You need signature confirmation in order to track the package online. If not, you'll have to call the post office for updates on tracking.

[Timmay]

You need signature confirmation in order to track the package online. If not, you'll have to call the post office for updates on tracking.

 

You need delivery confirmation to track online, and agree with shipping it registered with insurance, which will be cheaper than regular priority with insurance.

[Comicduck-migration]

You need signature confirmation in order to track the package online. If not, you'll have to call the post office for updates on tracking.

 

You need delivery confirmation to track online, and agree with shipping it registered with insurance, which will be cheaper than regular priority with insurance.

 

You are correct but pay pal does require signature confirmation for packages over $250.

 

 

[RockMyAmadeus]

Thanks for all the feedback. I will definitely be sending it registered and insured...

 

So RMA, how did you sucessfully dispute e-check payments? Item not as described?

 

Yes, BUT...it was through a credit union, so they may have much more leeway in doing that. But they treated it just like a CC payment, and filed the dispute with the merchant.

 

This was back in the days when no one won any "SNAD" disputes with Paypal.

[RockMyAmadeus]

I know a lot of people sell books here on the boards and receive payment via paypal. I recently agreed to sell a couple books (over $5000) and the buyer sent me an echeck payment via paypal. This is a non-eBay sale. According to PayPal, it takes 3-5 business days to clear. I would definitely wait for the payment to clear prior to sending the books out, but has anyone had any experiences where the buyer claims he didn't get the books or makes some other excuse to dispute the charges? Also, the person's adress is unconfirmed. PayPal says there is no Seller Protection on this deal since the address is unconfirmed. Should I go through with the transaction? Any other pitfalls? Any thoughts would be appreciated.

 

echeck simply means the seller probably doesn't have a credit card link to their account. Buyer isn't using a credit card and since the money is coming straight out of their checking or savings account they wouldn't be able to implement a charge back but they still could file a pay pal claim. Send the package with insurance and signature confirmation, better yet send the package registered mail with insurance. Registered mail is by far the safest way to ship a package. CGC ships all their packages registered mail.

 

 

Don't waste money on signature confirmation. Anything insured over $200 has to have a signature, anyways. Sig Conf. is just wasted money.

 

You need signature confirmation in order to track the package online. If not, you'll have to call the post office for updates on tracking.

 

As the Post Office is fond of saying, "it's not tracking."

 

Though they have improved the system substantially in the last 5 years to make it a de facto tracking, the truth is is that it's not, and you may be paying the premium for something that doesn't end up happening anyways.

 

 

[RockMyAmadeus]

You need signature confirmation in order to track the package online. If not, you'll have to call the post office for updates on tracking.

 

You need delivery confirmation to track online, and agree with shipping it registered with insurance, which will be cheaper than regular priority with insurance.

 

You are correct but pay pal does require signature confirmation for packages over $250.

 

 

That is correct. Paypal requires it.

 

And what does Paypal do when the buyer initiates a dispute?

 

That's right. They fold like a 15" spinach tortilla from the 99 cent store....

 

So who cares what Paypal "requires"? They will not, and cannot, protect sellers, especially not now.

 

Buy insurance. It's your best bet.

[InvstmntComcSuply]

One thing that needs to be considered, is that insurance does not cover fraud perpetrated by the buyer.

 

For example: buyer informs Paypal that book is SNAD and returns restored book, or reprint or significantly lesser grade copy, or X-Force #1 instead of the book seller actually sent. As RMA pointed out, Paypal folds like a cheap suit and will refund the money to the buyer once Delivery Confirmation shows they returned "something" to the seller.

 

There are significant risks to high $ transactions over the internet, many of which are not readily apparent. Unfortunately, you can attempt to protect yourself as much as possible, but, about the best you can do is thwart the incompetents and keep the 'honest" folk honest.

 

 

[ComicConnoisseur]

One thing that needs to be considered, is that insurance does not cover fraud perpetrated by the buyer.

 

For example: buyer informs Paypal that book is SNAD and returns restored book, or reprint or significantly lesser grade copy, or X-Force #1 instead of the book seller actually sent. As RMA pointed out, Paypal folds like a cheap suit and will refund the money to the buyer once Delivery Confirmation shows they returned "something" to the seller.

 

There are significant risks to high $ transactions over the internet, many of which are not readily apparent. Unfortunately, you can attempt to protect yourself as much as possible, but, about the best you can do is thwart the incompetents and keep the 'honest" folk honest.

 

at $5000 or similar price range I always ask buyer to send me a Usps money order by Express, I never had a buyer get upset with this as they were understanding seeing my point of view. You might want to go with USPS money order by Express in the future,it saves a lot of anxiety.

Keep us posted and good luck.