Pay Pal Question

[firefighterjosh]

OK I have somone wanting to ship my 87 banshee to them. They want to use pay pal because they are afraid of getting ripped. Ok no biggy I do not blame them. but Can I trust pay pal for large amounts of money?


I not exactly how this thing works....

Heres my guess

He sends (made up numbers) $1,000 to pay pal

I ship the banshee

When do I get my money? Does he have to say he recived it? And will I get f in the rear if he decides he dosen't want it?


Just curious

[nowukno]

I would let him pay through paypal and then transfer the money to your bank account which takes 2-3 days. Once the money is in your bank , your safe.

[firefighterjosh]

How much does pay pal charge for that much money?

[400exrider707]

Originally posted by firefighterjosh
How much does pay pal charge for that much money?

It used to be something like 3% to receive money, but I think it might be a hair more than that now, so 3% of the total cost of the shee, then to transfer to your bank account is free. I would definitely do it and make sure you have the money in your bank account before you ship it out, and let him know thats what your doing.

[Sjorge450R]

i've never been charged for using paypal.

[NorCalRacer]

If it is a large amount Paypal can (and normally does) freeze the money for 180 days for "review". They also charge a percentage. If you do use Paypal, put the money in your bankk ASAP and hope they don't "catch" that you have a large amount.
good luck

[bwamos]

Paypal is fine.
Just make sure they have a verified account. If not require that he pre-qualifys the money before the transaction can take place so that you dont get ripped off.

verified just means he has to link his bank account to Paypal for identity verification they make a couple $0.05 deposits for verification.

Helps to keeps you from getting ripped off by a scammer w/ stolen credit card info.

[400exrider707]

Originally posted by Sjorge300EX
i've never been charged for using paypal.

You dont get charged for sending, only receiving money.

[gbcap]

the reciever looses about 3 percent up to $1000 and then it goes down to 1%

they will freeze the account if you don't have much activity and then get a 3k payment into your account...so i would not use paypal if you never really use it for this transaction.

you can use an escrow service. it is slightly more expensive but they send the money to the service...you send the bike to the guy...when he receives it they send the money to you. normally charge about 3-6%

[Kickstarts-suck]

I just got $145 from a guy and we used paypal and it charged me $7.41:mad:

[derekhonda]

use a certified check. Money is guaranteed to you. Your banshee is guaranteed to him (well it basicallly is, you would be committing fraud if you didnt send it) Only cost $5 too.

[honda350r]

A certified check is a piece of paper with no guarantee if it is fake!! Cash in hand then send the Banshee!

[Sjorge450R]

Originally posted by 400exrider707
You dont get charged for sending, only receiving money.

still never lost money...lol maybe cause its going straight to my bank account....

[firefighterjosh]

I use it for my credit card. I am use it to donate money to some sites I am on like this. I have payed for 2 parts $30 each and someone sent me $30. I have only had it for maybe 3 months.


think that is enough activity?