Home Shady Lane

Retailers, Manufacturers, ePay, AudiogoN, Paypal or whatever. Buying and selling advice.

RE: That was back in the dark ages.

I am not sure where you are getting that PayPal holds money in an escrow account until the buyer releases it by acknowleging the itme as delivered and as described, but that is certainly not true. I sell many items on eBay and the money is available to me the seller as soon as it hits my PayPal account, I can transfer it to my bank account any time.

If the buyer contacts PayPal and opens an case against me, PayPal can either put a hold on the money if it is in my PayPal account or if the money is not there put a hold on my account, but PayPal is not the same as an escrow account and never has been.

If the seller is dishonest and they sell something for $10,000 and the buyer pays via PayPal, the seller can transfer the money to their bank account, close that bank account or move the money to another account and PayPal can't get at the money. I have heard of this happening, but have never seen it myself as either a buyer or seller. I don't know what PayPal does if this happens if they refund the money to the buyer and go after the seller or if they tell the seller they are out of luck.

There is no sure thing in the world and dishonest people will always figure out a way to work the system to get your money if they really want to.

Jeff
We’re Burning Daylight


This post is made possible by the generous support of people like you and our sponsors:
  Parts Connexion  


Follow Ups Full Thread
Follow Ups

FAQ

Post a Message!

Forgot Password?
Moniker (Username):
Password (Optional):
  Remember my Moniker & Password  (What's this?)    Eat Me
E-Mail (Optional):
Subject:
Message:   (Posts are subject to Content Rules)
Optional Link URL:
Optional Link Title:
Optional Image URL:
Upload Image:
E-mail Replies:  Automagically notify you when someone responds.