Fraud alert!! Just received a fake paypal confirmation payment!!!

[stevemulholland3]

an old hustle,glad you didnt take the bait-now dont send him anymore replies or you will find that you will start getting mail from the director of a national bank in africa that needs you to claim some funds for a dead millionaire

[bodybump]

Originally Posted by stevemulholland3

an old hustle,glad you didnt take the bait-now dont send him anymore replies or you will find that you will start getting mail from the director of a national bank in africa that needs you to claim some funds for a dead millionaire

Hahahah actually who would need a Rolex watch in Nigeria??When its even hard to get fresh clean water from there...

[Bisquitlips]

Originally Posted by mic6

what i always do when selling watches is this:
I go to paypal page and transfer the funds to my bank account
Then in two days I go to the bank and verify it is there

After that i pack and ship the watch

This is a good process.

Since 1998 I have had about 500 transactions on eBay without one issue. The thing to remember is that a buyer can actually transfer funds to your PP account and then file a reversal. If those funds are still in your account, they will be removed and sent back to the buyer's account even if you have sent the item to the buyer.

It is always best to transfer the funds to your bank account and then wait until they hit and then pack and ship.

Even after you transfer the money to your bank the buyer can still reverse the transaction, but if the money is not in your PP account it is much easier to contest that reversal.

Hope that makes sense, but it always pays to be cautious. Literally!!

[Bisquitlips]

Originally Posted by toph

x10000, never ever ever. all the buyer has to say is i did not get the watch or it is not as described- and guess what your funds are 9 times out of ten gone or frozen.
www.paypalsucks.com

I have to say that I have never used PP for any transaction above about $1500.00 or so.

I think I would consider an escrow service for a $8000.00 transaction and split the fees with the seller. Peace of mind is worth that IMO.

[bodybump]

Originally Posted by Bisquitlips

I have to say that I have never used PP for any transaction above about $1500.00 or so.

I think I would consider an escrow service for a $8000.00 transaction and split the fees with the seller. Peace of mind is worth that IMO.

Sir richard how does escrow actually works??

[stevemulholland3]

with escrow the buyer puts a certain amount in an escrow account in the sellers name,but the funds will not be released until the buyer gives the o.k-but he cant take it back either-its effectively frozen.
also,now if the buyer does not o.k. the release of the funds in a certain amount of time they are automatically released.
ONE MORE THING...
about paypal,I dont like to get into details about it on an open forum-but someone cannot just contest something on a high dollar purchase and get their money back anymore,paypal was loosing too much money with that process.
contact them if you want someone to explain the new protocol-but dont scare people into not using a perfectly respectable form of payment until you know all the facts..please guys..

[toph]

Originally Posted by stevemulholland3

with escrow the buyer puts a certain amount in an escrow account in the sellers name,but the funds will not be released until the buyer gives the o.k-but he cant take it back either-its effectively frozen.
also,now if the buyer does not o.k. the release of the funds in a certain amount of time they are automatically released.
ONE MORE THING...
about paypal,I dont like to get into details about it on an open forum-but someone cannot just contest something on a high dollar purchase and get their money back anymore,paypal was loosing too much money with that process.
contact them if you want someone to explain the new protocol-but dont scare people into not using a perfectly respectable form of payment until you know all the facts..please guys..

With all due respect Steve, Paypal have screwed me at least 3 times. Things may have changed- (I dont know but i will find out how)- but that does not mean that I or others should not inform him of the disgraceful way that we have been treated before. I am not scaremongering, these events have happened- , only too often FACT

[Bisquitlips]

Originally Posted by toph

With all due respect Steve, Paypal have screwed me at least 3 times. Things may have changed- (I dont know but i will find out how)- but that does not mean that I or others should not inform him of the disgraceful way that we have been treated before. I am not scaremongering, these events have happened- , only too often FACT

Agreed! PayPal does exactly what it wants to do regardless of their posted rules of conduct. My understanding is that they are NOT subject to the same Federal oversight and rules of conduct as banks and other financial institutions yet you can "deposit" and stay funds in their accounts, which is in itself scary.

My point was not meant to frighten anyone, but to engender prudence. It was a suggestion to move the funds out as soon as possible and give the transaction a little time to gel.

PayPal is a very good facilitator of transactions! I have used it for years without issue, and will continue to do so.

[springer]

Bodybump, good homework great post here.

[Orchi]

Err buddy JT...thanks very much for sharing...!

Which is one of the main reasons why Orchi always insisted upon
NOT to accept Paypal...n NOT using one either to pay for
ALL of Orchi's purchases...!

A genuine buyer should have NO issue to pay by bank wire transfer or
commonly being referred to as bank Telegraphic Transfer(TT)...BUT
to genuine Sellers...only.

[Duc-904]

Originally Posted by stevemulholland3

with escrow the buyer puts a certain amount in an escrow account in the sellers name,but the funds will not be released until the buyer gives the o.k-but he cant take it back either-its effectively frozen.
also,now if the buyer does not o.k. the release of the funds in a certain amount of time they are automatically released.
ONE MORE THING...
about paypal,I dont like to get into details about it on an open forum-but someone cannot just contest something on a high dollar purchase and get their money back anymore,paypal was loosing too much money with that process.
contact them if you want someone to explain the new protocol-but dont scare people into not using a perfectly respectable form of payment until you know all the facts..please guys..

Good post Steve. There is a "certain" amount of seller protection if you ship to a confirmed and verified address. Just make sure you always have a tracking number and provide full insurance.

[Hatchet]

That was a world class fake Paypal email. You should send a box of rocks to the address in Nigeria and put it's value at $8800 so that they have to pay an ungodly customs fee only to have a box of rocks. See:

http://www.thescambaiter.com/

[tphan]

Thanks for sharing...

My rules:

1. Bank wire
2. Must cleared prior shipping
3. No Paypal unless it is under $500.00
4. References
5. Posting history

[norituck]

Originally Posted by Hatchet

That was a world class fake Paypal email. You should send a box of rocks to the address in Nigeria and put it's value at $8800 so that they have to pay an ungodly customs fee only to have a box of rocks. See:

http://www.thescambaiter.com/

That would be funny