Thread: Buying audio gear

I haven't used PayPal in over 10 years, can someone help me out and explain paying an individual person using a visa credit card. If I want to pay the PayPal fees and not the individual seller.

If something I want to buy cost $30,000 from an individual do I send them additional 3% ($900) meaning $30,900 using a credit card.

I know when I use a bank account I have to add the extra 3% to a person. I'm guessing you can't use friends and family with a credit card so you don't have to pay the fees.

Correct. CC fees are also much higher - approaching 5% in some cases, depends on the merchants volume and a number of other factors.


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My bank has “Zelle” that transfers funds almost instantly. But, they have a limit on much you can transfer in a one months time period. I think something like $4000.00 a month. But, quick and no fees. Something to consider.

Look into doing a escrow service for this.

Originally Posted by johnthomas

I haven't used PayPal in over 10 years, can someone help me out and explain paying an individual person using a visa credit card. If I want to pay the PayPal fees and not the individual seller.

If something I want to buy cost $30,000 from an individual do I send them additional 3% ($900) meaning $30,900 using a credit card.

I know when I use a bank account I have to add the extra 3% to a person. I'm guessing you can't use friends and family with a credit card so you don't have to pay the fees.

You may want to look at TransferWise. It’s an app that allows you to wire funds at a potentially lower cost than other options especially if it involves foreign currency rate exchanges.


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When I want to transfer money to another individual using PayPal, if the source funds come from a linked checking account, there is no fee. If I want to transfer the same money to another individual using a credit card, fees are involved. I've sent money to individuals several times, fee free, using my linked checking account. I do not know if there is a limit to those transfers, however.

I've been using Paypal for a long time to purchase or sends monies . No issues. some FYI Credit Card Fees, Send Money Fees & Other Charges - PayPal US

Originally Posted by CPP

I've been using Paypal for a long time to purchase or sends monies . No issues. some FYI Credit Card Fees, Send Money Fees & Other Charges - PayPal US

PayPal certainly protects the buyer but much less so theseller. If the buyer claims there's afault (even damage in transit), PayPal can and does claim the entiretransaction value back from the seller's account. The seller has to justify his claim that thegoods were in the condition he stated in the ad. If he doesn’t satisfy the buyer to agree withthe seller’s proposals to remedy the problem, the transaction value is returnedto the buyer and THE BUYER CAN KEEP THE ITEM!

This is very worrying as it can only be resolved with theco-operation of the buyer, who may in fact be taking advantage of PayPalconditions.

I’ve experienced just this problem when sending an amplifierby DHL (booked through Parcel2Go) but it had been dropped at some time and abig capacitor had been ripped from its PCB. I had it fully insured through Parcel2Go, but after the event, theystate that electronics are not covered. They agreed to refund my insurance premium, but of course I couldn’tclaim from DHL - no insurance with them, no contract with them.

In the end the honest buyer agreed to accept from me 50% ofthe repair cost. Only when the buyer agreedto drop his PayPal claim did I get back the transaction value.

Sellers must trust buyers if using PayPal – it’s not an evenplaying field!

Originally Posted by Hear Here

PayPal certainly protects the buyer but much less so theseller. If the buyer claims there's afault (even damage in transit), PayPal can and does claim the entiretransaction value back from the seller's account. The seller has to justify his claim that thegoods were in the condition he stated in the ad. If he doesn’t satisfy the buyer to agree withthe seller’s proposals to remedy the problem, the transaction value is returnedto the buyer and THE BUYER CAN KEEP THE ITEM!

This is very worrying as it can only be resolved with theco-operation of the buyer, who may in fact be taking advantage of PayPalconditions.

I’ve experienced just this problem when sending an amplifierby DHL (booked through Parcel2Go) but it had been dropped at some time and abig capacitor had been ripped from its PCB. I had it fully insured through Parcel2Go, but after the event, theystate that electronics are not covered. They agreed to refund my insurance premium, but of course I couldn’tclaim from DHL - no insurance with them, no contract with them.

In the end the honest buyer agreed to accept from me 50% ofthe repair cost. Only when the buyer agreedto drop his PayPal claim did I get back the transaction value.

Sellers must trust buyers if using PayPal – it’s not an evenplaying field!

"Sellers must trust buyers", pretty much applies to anything regardless of how an item is sold, Ebay, The Gon, paper add, sell mag, Facebook Market Place anything. A seller has got to support their product, but a buyer has the final word if the product is not in the condition noted.

Originally Posted by CPP

"Sellers must trust buyers", pretty much applies to anything regardless of how an item is sold, Ebay, The Gon, paper add, sell mag, Facebook Market Place anything. A seller has got to support their product, but a buyer has the final word if the product is not in the condition noted.

Chris

When we buy or sell online through Ebay or other platformswhere the other party is an unknown and therefore not implicitly trusted, wetend to use PayPal instead of transfers or cheques through the post because weBELIEVE PayPal will protect us if things go wrong – rogue buyers, rogue sellers,scams in particular. My point is thatPayPal is much more protective of buyers than they are of sellers.

I gave a first-hand example where I really had to try hardto get payment restored after a minor accident in transit. If the buyer had been minded to takeadvantage, or if I had not worked so determinedly to get the matter amicablyresolved with the buyer, the buyer may have not only got their money back, butalso got to keep the slightly damaged amplifier. Is that in any way fair?

Your last sentence (a buyer has the final word if theproduct is not in the condition noted) is fair enough if the seller hasdishonestly described it, but otherwise not so. At worst (if the matter cannot be resolved between buyer and seller) theitem should surely be returned to the seller and the transactioncancelled. Not so with PayPal – the buyergets his money back AND CAN KEEP THE ITEM. What’s the fairness in that?

PayPal charge a not insignificant fee for their services –they charge the seller not the buyer – so I’m simply saying that people shouldbe aware that using PayPal isn’t the level playing field we are led to believe.

Peter

Originally Posted by Hear Here

Chris

When we buy or sell online through Ebay or other platformswhere the other party is an unknown and therefore not implicitly trusted, wetend to use PayPal instead of transfers or cheques through the post because weBELIEVE PayPal will protect us if things go wrong – rogue buyers, rogue sellers,scams in particular. My point is thatPayPal is much more protective of buyers than they are of sellers.

I gave a first-hand example where I really had to try hardto get payment restored after a minor accident in transit. If the buyer had been minded to takeadvantage, or if I had not worked so determinedly to get the matter amicablyresolved with the buyer, the buyer may have not only got their money back, butalso got to keep the slightly damaged amplifier. Is that in any way fair?

Your last sentence (a buyer has the final word if theproduct is not in the condition noted) is fair enough if the seller hasdishonestly described it, but otherwise not so. At worst (if the matter cannot be resolved between buyer and seller) theitem should surely be returned to the seller and the transactioncancelled. Not so with PayPal – the buyergets his money back AND CAN KEEP THE ITEM. What’s the fairness in that?

PayPal charge a not insignificant fee for their services –they charge the seller not the buyer – so I’m simply saying that people shouldbe aware that using PayPal isn’t the level playing field we are led to believe.

Peter

Well I guess since Paypal has been around, I have never had a "BAD" experience, I guess I'm lucky .Anyway, your comment:

"(if the matter cannot be resolved between buyer and seller) the item should surely be returned to the seller and the transaction cancelled", I agree with that 100%.

The buyer protection from PayPal is for legitimate buyers and sellers. The issue is not the legitimate buyers and sellers, it’s those who routinely abuse the protection. When we sell used gear, we stopped allowing normal PayPal due to a laundry list of scammers. I would sooner not sell the used piece than have to go through the nightmares we experienced in the past.


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Chris - Yes, I too had been lucky until this happened. It’s only when a problem arises that yourealise that PayPal isn’t as fair in their modus operandi as you had thought. And I was lucky in having an honest and reasonablybuyer. It could have turned out muchworse for me as seller.

Perhaps you may like to bear in mind the implications of the buyer being able to keep theitem and get all his money back. If youdon’t believe me, ask PayPal for detailed clarification of their adjudicationservices.





Peter

Originally Posted by Mike

The buyer protection from PayPal is for legitimate buyers and sellers. The issue is not the legitimate buyers and seller, it’s those who routinely abuse the protection. When we sell used gear, we stopped allowing normal PayPal due to a laundry list of scammers. I would sooner not sell the used piece than have to go through the nightmares we experienced in the past.


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Mike – I think that’s right, but not only with scammers but also in the circumstances I describe when an honest sellers deals with an honest buyer but something happens (in my case a bit of damage in transit) that leads to a claim – and nightmare negotiations to get the matter resolved the FAIR WAY, rather than the EASY WAY that PayPal prefers of just voiding the transaction with no obligation on the buyer to return the goods.

Peter

Originally Posted by Hear Here

Chris - Yes, I too had been lucky until this happened. It’s only when a problem arises that yourealise that PayPal isn’t as fair in their modus operandi as you had thought. And I was lucky in having an honest and reasonablybuyer. It could have turned out muchworse for me as seller.

Perhaps you may like to bear in mind the implications of the buyer being able to keep theitem and get all his money back. If youdon’t believe me, ask PayPal for detailed clarification of their adjudicationservices.



Peter

Like I said, I've used paypal to handle transactions for a long time. I've been lucky, never had an issue. And I Never said I didn't believe you.

I closed my PayPal account earlier this year. I sold a piece of equipment to someone on the west coast for $5500.
PayPal notified me that funds had been sent but it had been a few years since I had a sale that large. They notified me they were putting a hold on the funds until the purchaser agreed to release the payment.

I contacted the buyer and said they confirmed the purchase. Somehow it triggered a second payment to my account. I immediately refused the payment and it showed that the buyer just needed to accept in funds back.

At that point PayPal froze my account. I spoke with them and they said they could do nothing at that time. There would be a 3 week wait to see what happened with the buyer.

I tried to make them understand the buyer had also contacted them to explain the issue was on their end but no change. They only released the funds 2 weeks after he received the equipment.

You have no recourse if they decide you are not entitled to your money.