Cowboi

what percentage would pay pal take off you on a large sum like that?

also how secure is pay pal.
if i saw money in my pay pal account is there no way it can be lost or once its there is it mine?

percybigun

paypal is 100% secure unless you fall for a daft scam email and give out your password.

its free to withdraw to your bank account anything over £50. but you will pay a fee when you receive the paypal moneys, see here it might tell you the fees:

https://www.paypal.com/us/cgi-bin/helpweb?cmd=_help

at a guess probably about £100-150?

if the payer draws the money out of his bank account after paypalling you, his bank might choose to bounce it fully, and you could end up out of pocket.

why not get a BACS bank transfer instead? its quicker, and free.

JamesS2RS

£60 pounds ish.

Turbocabbie

Their terms of service are not completely disclosed upon signup and some key "conditions" are not disclosed. They fail to mention their total lack of security to prevent your account from being compromised by phishing & spoof sites. That if your account is accessed by a criminal using one of these methods, PayPal will hold YOU monetarily & legally responsible! Also, no place do they openly tell potential members that their money is 100% at risk. That PayPal can, will, and has in the past, completely cleaned out customers' accounts, (including your checking or savings account) with no appeals process available. Instead they bury in the fine print of 37 pages of their "Terms of Service" (ToS) where they disclose to you that PayPal can close your account for any reason what-so-ever, or no reason

http://www.paypalsucks.com/

vroomtshh

Paypal have just changed there charges. It depends how he pays you, how you get charged.

Paypal is safe if you withdraw the funds to your bank account, then close the bank account. Thats the only safe way.

I have recently cancelled my paypal, because paypal are worse than the nigerians for scamming. My ebay account is next to go.

I would rather someone gave me two grands worth of turnips than trust paypal with the money. Its your money though so your choice.

sm

there is no charge to withdrawl any amount over £50 from your paypal account to your bank account

you are charged to recieve money into your paypal account from another paypal account

for a rough estimate i recieved £500 from another paypal account into my paypal account and paypal charged me £20

Chip

iTrader: (3)

Money in your paypal account isnt safe, as the people you got it from have 45 days to file a complaint and get it back, AFTER that period, its then safe, well ish, sometimes they just randomly decide they dont want to let you have it for ages :S

Cowboi

just found out its 3.4% + 20p.

cant do a bank transfer as its coming from a credit card.

kind of a bit nervous about pay pal now. had a few problems with it before, so with the amount of money it does get you thinking.

cheers for the info

Chip

iTrader: (3)

Are you thinking of selling a car via paypal or something fucking stupid like that?

Cowboi

well its not quite a car but an engine.

guy that wants it wants to put it on his card and have a few months to pay for it.

Chip

iTrader: (3)

Only way Id be doing that, is if I waited 45 days for the money to clear, fuck taking 2K of uncleared funds off someone you dont know.

I treat paypal the same as an IOU effectively for the first 45 days, if its someone you trust then fair enough but if it isnt you have to accept that you might get the money or you might not.

I think you are a total mug if you go through with it personally.

Chip

iTrader: (3)

PS

If he wants to pay by card, just tell him to take 300 quid a day out the cashpoint on his card for the next 7 days then pay the cash into your bank

Turbosystems

iTrader: (5)

just sell your engine to someone that can afford it

percybigun

some credit cards dont allow withdrawls of cash, and the ones that do charge about £3 for withdrawls. but yes i would deffo ask him to consider doing it by that method!

Cowboi

i was thinking this too. either than or borrow it from a family member or something.

with cash everyone knows where they stand.

Cowboi

but 7 lots of 3 quid aint much when ur spending over 2k.

i'd ask for more than that to cover the pay pal fees

Chip

iTrader: (3)

Providing its not fake 20s

Cowboi

u fancy buying a new cvh engine?? lol

RsDarren

iTrader: (1)

I got charged when i recived £500 from a buyer by Paypal roughly around £30-40. Then when i asked paypal to transfer it into my bank account they charged me pretty much the same again?? so ended up losing out on around £70!!

Absolute con!!

Cowboi

i'll have to get one of them special pens and trying drawing on 100 notes lol

Chip

iTrader: (3)

The pens dont work on the new notes as far as im aware.

Easiest option for you is make him take out cash and pay it direct to your bank account, that way you know its not fake, you know its not getting taken back and you get to keep your money, if he doesnt like the terms then sell it to someone else, id sooner get less for it personally than leave myself open for getting scammed out of 2K

Paypal is for people you trust, and for small amounts, NOTHING else IMHO, different for businesses that are selling lots of stuff through it as the occasional scam can be offset in the books, but for a private individual to take a large sum from it, its nuts IMHO, especially from someone who is refusing to take the money out of the hole in the wall on his card, surely that must ring alarm bells?!

What next, he wants you to post it to nigeria?

Micky The Finn

personally i would not do this,it sounds to suspect,like said above,if he cannot pay another way dont sell it,and if the money is taken after you receice it its the scammer at fault not paypal,in a normally decent honest transaction paypal is 100% safe,its only when the scumbags who use the service start messing about it goes tits up then your on your own because paypal do break the law to make sure they dont lose any money,but challenge them and they will work with you,ive just had a large ammount recredited by them out of their own account as they could not get it from the scammer,i mentioned a few legal points to them and hey presto they paid me it back themselves,so not all bad,like anything else you just have to know whats what.

they only charge me 1.4%+ 20p as well so better than a credit card company.

Micky The Finn

thats just not true,

£500 received would be 3.4% + 20p

and free to transfer to a bank if over £50.

it actually cost you £17.20p

xr4x4rs

iTrader: (5)

also, if paypal see more than 1500 go in, they freeze your account as it automatically goes into a money laundry scheme, so they have to ask you loads of questions etc,

i had over 4k go in mine when i sold some stuff, so had lots of payments going in, i couldnt touch it until i answered all the questions etc,

you could accept by credit card, and instantly transfer the money from paypal to your bank, that way if he does claim back he may win the case but because you have no money in your paypal he carnt get it back as its not under the buyers protection as it wasnt bought through ebay, but you wont be able to use your paypal account if this happens, as any money that then goes in goes straight to him

Stu.H

Here you go mate,

http://ppcalc.com/

Chip

iTrader: (3)

And make sure you cancel the direct debit too of course, or they WILL try and take it back again!

Stu @ M Developments

iTrader: (12)

Agreed.

RichardPON

Unfortunately, it isn't free over £50 in all cases.

Once you have had a set amount go through your paypal account, they upgrade you to a premium account.

Once upgraded, you are subject to charges for cash withdrawals.

COMEDY DAN

This is 100% correct, be very carefull.

I personally wouldnt let 2k of my money filter its way through a system as flim flam like Paypal....

C.H.A.P.S payment, and offer to cover the cost of a chaps.

They take 24 hours and are around £17.

Totally safe and both parties are covered as its documented and the monies sender gets a receipt.

Matt

they dont take 24 hours
a chaps payment can be issued up until about 3pm usually and it wil credit the recipients bank by close of banking business the same day
the banks fees will vary between £15-£25
they will become a thing of the past soon...
http://www.co-operativebank.co.uk/se...stomerServices

Chip

iTrader: (3)

Matt, Dan meant "no more than 24 hours" as opposed to 45 days for paypal funds to clear.
He wasnt saying exactly 24 hours.

Fil

i think its been pretty much sumed up on this thread

but pay pal and 2000quid, do not mix

Dicko&Vacant

iTrader: (3)

Although if they decide to clear out your account, youve agreed they can do this in the t&c you signed up with, so youve got no leg to stand on

I would do a bank transfer tbh its a lot more secure

Sarah

COMEDY DAN

I sent one 2 weeks ago.

It cost me £17 and it credited the next working day in the recipients account.

Now to me that suggests it cost me £17 and took 24 hours....

No worries mate, maybe your bank is slightly different.

Thanks.

AlexD

iTrader: (3)

I would do a straight BACS Transfer IMO.

I rember taking payment for 1.5k and had a warning from pay pal, that over 1k transfer was not covered under their insurance if it goes missin !!

.

COMEDY DAN

paypal=cocks.com lol

Billabong

All he has to do is get a credit card cheque - payable to himself - deposit in his bank, and then do a bank transfer to your account - job jobbed, all safe.

cossiecrew

thats bad ive just set one up as ebay will no longer let me trade on there without one thats shit though

Cowboi

cheers for all the advice guys, not going to go ahead using paypal for this amount of money. no offence to the guy involved, just to many risks.

have offered to play with the price a bit if it can be done with cash or bank transfer.
i know credit cards will charge quite high interest on cash withdrawals so maybe we could come to an agreement.