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Waiting for Paypal

Normally I don't sell to those with no feedback on Audiogon or eBay, but occasionally I make an exception. Once the paypal account shows that I have the money from the buyer, I request a check immediately. Is there a safe length of time to wait before I ship the item? Is it safe to ship once I receive the check from Paypal? My bank account is linked to Paypal. If there is a default later on, can Paypal pull the money back out of the bank account even if they sent me a check in the mail instead of direct deposit? What would you do? Thanks.
tgrisham
pbnaudio's avatar
pbnaudio
1,614 posts
 
If your paypal account is linked to your checking account - watch out - they'll pull it as fast as they can if problems arise.

The "linking" is the very reason I don't do paypal, if someone gets hold of your paypal account and goes on a shopping spree - your out of luck - or at best without your $ for a long time till / if things get squared away.

Best of luck

Peter
tgrisham OP
1,291 posts
 
Thanks, Peter, that's what I thought. Up to this point I have wanted a verified account so I didn't have credit limits, but was always worried about that part of it. So, I cancelled the bank account from Paypal. That way they can't pull the money back and tell me about it later, when it's too late. Oh well, it's really hard to safely transfer money and products unless you take a credit card.
jmcgrogan2's avatar
jmcgrogan2
6,346 posts
 
I have a seperate bank account set up just for Paypal, as soon as the funds clear from Paypal into my Paypal account, I transfer them to another account. That way I can take Paypal, but still protect myself.
rlwainwright
1,904 posts
 
JMCGrogan has the right approcah. PayPal are pirates, I got burned on a Seiko watch and they did *nothing* to help. Use a separate, PayPal-specific account and xfer the money ASAP. Then ship the item. Do NOT trust their dispute resolution process, it is bogus and, essentially, worthless...

-RW- Not that I'm bitter...
ebm
9,311 posts
 
Paypal not anybodys pal!!!
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