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Preferred method of payment for Mega-Keys at a con...

Started by Gem_Mint,

138 posts in this topic

Gem_Mint

Gem_Mint

Posted
Posted

I'm curious as to what the preferred method of payment would be?

 

Would dealers rather $6k in cash?

 

Do they swipe a card?

 

Do any prefer you gift the funds via paypal on the spot?

 

Any help on this one?

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Gem_Mint

Gem_Mint

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If you use PP gift you're not only screwing yourself, you're breaking PP's terms. Given the CC fees, I assume they'd prefer cash or a check. Although a check...that's probably pretty sketchy.

 

That's what I'm thinking. Check is too sketchy. Even cash would be risky, unless they have a marker...

 

Gifting via PayPal on the spot, there is no risk. You have to book, they have the money... no fees. (shrug)

 

Edit: how are you screwing yourself? And who cares about breaking PP terms?

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Speedy-D

Speedy-D

Posted
Posted
If you use PP gift you're not only screwing yourself, you're breaking PP's terms. Given the CC fees, I assume they'd prefer cash or a check. Although a check...that's probably pretty sketchy.

 

That's what I'm thinking. Check is too sketchy. Even cash would be risky, unless they have a marker...

 

Gifting via PayPal on the spot, there is no risk. You have to book, they have the money... no fees. (shrug)

 

Edit: how are you screwing yourself? And who cares about breaking PP terms?

You're screwing yourself because with PP gift, you don't get any of their protection, and unless you're linked to your bank account, there are still fees. You just have the option to pay them yourself. And who cares about PP's terms? I guess that's your call, but they've put up a service you seem to value, it's not unreasonable to think you might want to play by their rules.

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Chip Cataldo

Chip Cataldo

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... and unless you're linked to your bank account, there are still fees.

Not true. If you have the money in your Paypal account balance, there are no fees whether you have your bank account linked or not. Then it would depend on if you have any spending limits on your account.

 

Peace,

 

Chip

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miraclemet

miraclemet

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I agree you dont wanna get flagged for a "gift" that might get your account suspended.

 

But in terms of the lack of protection. For a hand-to-hand transaction I dont see that you'd need protection (usully you need the paypal protection if the seller doesnt ship, ships the wrong thing, something gets damaged in transit...etc).

 

As long as it's a slab (and you dont have to worry about paying for a unrestored book and getting a restored book) I dont see how you need "protection"

 

(of course that's how I ended up with a kid! ((kidding)))

 

Cash would obviously be king.

 

any dealers wanna chime in?

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Speedy-D

Speedy-D

Posted
Posted
... and unless you're linked to your bank account, there are still fees.

Not true. If you have the money in your Paypal account balance, there are no fees whether you have your bank account linked or not. Then it would depend on if you have any spending limits on your account.

 

Peace,

 

Chip

Okay, my mistake.

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lizards2

lizards2

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I've noticed that I get charged a 1% fee now for gift transactions.

Anyone else experience this?

That's the fee for being a frostback.
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namisgr

namisgr

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Amazing to me that anyone would consider using cash to pay for a mega key. I wouldn't be comfortable carrying large (5 figure) sums around in cash. Using PayPal gift for buying merchandise is against the terms of service.

 

I make all large purchases at conventions by check. Cash is fine for small and medium sized buys.

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Mark 1

Mark 1

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I don't think it's against the Paypal rules to gift cash that is already in your paypal account.

 

I sent a dealer 4k preferred once as the money was in my account. No problems occurred at all.

 

 

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namisgr

namisgr

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I don't think it's against the Paypal rules to gift cash that is already in your paypal account.

 

I sent a dealer 4k preferred once as the money was in my account. No problems occurred at all.

 

 

Fair enough. I'm more comfortable keeping five figure sums of money in an FDIC-insured checking account than with PayPal.

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N/A

N/A

Posted
Posted
I don't think it's against the Paypal rules to gift cash that is already in your paypal account.

 

I sent a dealer 4k preferred once as the money was in my account. No problems occurred at all.

 

 

They don't catch everything. Paypal is gift is not supposed to be used for that. It does not mean that it is not used for that.

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