Pay Pal pros and cons-what was your experience?

[PEEL]

Last year I got taken while using Digi Bid (NOT DIGIDESIGN) a tradesafe company I had originaly had no problems with. So Im very apprehinsive to sell over the net. Can anyone share with me there experiences regarding Pay Pal. Im lookig for the safest way to sell expensive studio equipment. Your horror stories and pitfalls would be appreciated.

[Slim Shady]

No horror stories, I've done probably 50+ transactions with them and they've all gone fine - their certified address system seems to work pretty well. Only problem with PayPal is their ridiculous fees, especially when using credit cards (or more accurately, receiving payments when someone else is paying you with a credit card). I've stopped accepting Paypal on my eBay auctions unless the seller is willing to cover, or at the very least, split the PayPal fees with me, otherwise you lose so much money in the deal, it's not really worth it.

[PEEL]

Hey thanks for the quick response Slim. Iv seen you all over the DUC. In fact I think you once blasted me for my spelling errors. I dont blame you for it..my girlfriend gives me a hard time for it also. Anyways thanks! Anybody else? Id like to hear from somone who had some troubles. That way I can avoid the same problems. Thanks!

[Pako]

Paypal's awesome! They are also affiliated with Ebay, so purchase through ebay payed through Paypal makes a nice combo. I had a situation where I had to threaten the seller, I made proper payment through Paypal, but the package didn't show..., repeated emails and broken promises, I finally went through PayPals Easy Dispute process which put the money back into my account and froze the sellers account until I was satisfied! IT WAS AWESOME!!! I feel I might have been taken if it wasn't for Paypal.

~Cheers

[PEEL]

Now that is awsome. I thought I could hear Snap's "Iv got the power" playing faintly in the distance! Its nice to know they will go to bat for you. Keep em coming folks! Pakos advise was great!

[AverageJoe]

I use PayPal all the time and find them to be great. They have a new seller protection service that I don't know all the details about but it seems to be something they are pushing as a new service.

I agree on the fees- I think it's like 3 percent if the buyer pays with anything other than a PayPal balance (credit card, transfer, etc)... this can add up quickly on big ticket items.

If you are selling on eBay, I don't believe it's within eBay's policies to say in the auction that the buyer must split the fees with you, so I always put "PayPal payers must contact me before bidding" and then in an email tell them they will have to split the fee with me. You're still out 1.5% though.

PayPal's especially cool to keep your 'gear buying' money in! There's even a PayPal debit card that gives you cash back.. something I haven't gotten yet but have been intrigued by!

[where02190]

Paypal sucks. I had a problem with a purchase paid thorugh them, they did NOTHING!!!!!

What I got was NOT what was advertized, totally different model from what was advertized/pictured, and in poor shape (yet advertized as like new). Basically they told me I accepte dthe package so I'm stuck with it.

I'll never use them again.

[Surf Twang]

Someone broke into my account and made several unauthorized purchases using my checking account before I discovered what was happening. PayPal reversed all the charges but my bank didn't waive all the stop payment fees. I have kept my account inactive ever since. It was all very unsettling.

[PEEL]

O.K This is what I needed to hear. Im sure there are more pitfalls..so Im going to wait a couple more days and see what develops here. I appreciate everyone who posted sharing their plight.Thanks!

[captain54]

Paypal refunded my money and froze a bogus Ebay seller's account when he failed to deliver merchandise I paid him for.....it worked out well for me....

you have to make sure you trade with someone who is a verified PalPal user...otherwise, proceed at your own risk...