what is the Pay Pal scam

[td65]

How does this Pay Pal scam actually work? I think explaining some of the scams would be helpful to new guys like me. And is there a search function for the scam listings? Thanks Tom

[RonOwensRacing]

here is a couple of links you can check out.

http://www.paypalwarning.com/is_paypal_a_legal_scam

http://www.aboutpaypal.org/paypal_the_real_scammers

[Scorpion1110]

As I have said before, I refuse to use them. There is simply no way that I would ever give them the right to make decisions, with regard to claims.

What happens when the entity with the most to lose is put in the position to mediate or make the final decision on a case? They find for the party which eliminates or reduces their liability.

Paypal reserves the right to decide who is right and who is wrong; remember that when you sign up. You have given them ultimate power.

And when you say "you have never had a problem with Paypal", don't forget to add "yet" to the end of the sentence.

BTW- does providing all of your info including banking information to an outfit that only exists on-line make you feel good when you think about it? LOL

A USPS MO, with a stamp and a delivery confirmation and I keep all my personal information, plus I get to determine who is right and wrong and what action to take including filing a claim. Sounds like a good deal to me :)

Yep paypal. Doesnt get any better than that. Right Elon?

Scorp

[oldandtired]

I do use paypal, and here is my proceedure.
As soon as the money hits the account, I move it to my checking account.
My funding source is a credit card and IF they reverse the money, I can file a dispute with the credit card company.
JMO

[td65]

Thanks for it information. I have only had a few emails on the 75 caprice and they are all the same story and want to pay only with pay pal. They all rejected the phone call offers and asked the wrong questions in my opinion. The Racing Junk people even set a warning and eliminated the email of one. Still looking for a real buyer I quess!?

[Scorpion1110]

I do use paypal, and here is my proceedure.
As soon as the money hits the account, I move it to my checking account.
My funding source is a credit card and IF they reverse the money, I can file a dispute with the credit card company.
JMO

Dave:

When you transfer from Paypal to your checking account its an ACH transfer. Did you know that even though you have cleaned out your paypal account and moved it to your checking, they can do an ACH reversal and pull the money back out of your checking. Yep- they can reverse the transaction.

The only way you can keep them from reversing the ACH is by placing a stop payment on the account targeted to Paypal-that stops the ACH reversal. In other words you would need to place a stop-payment on your checking directly targeted to Paypal for an amount or range.

I spent hours with my Bank going through this because of a scam situation I saw brewing on a car I sold-Paypal was the tool that the scammer used.

So paypal, reserves the right to make unilateral decisions regarding claims, they reserve the right to freeze your account, they hold all of your banking and personal information, and can dip into your personal checking or savings and pull money back.

Yep no worries with them ;)

Scorp

[oldandtired]

I learn something new every day.

[shawnp]

Got the email today. Can't call, no cell service and not sure how is text message is going thru. Funny thing, it's not a text, it's an email. Buying a motor for his dad, he is off shore on rig right now, wants pay pal and private courier to pick up. He is even nice enough to tell you how to register at pay pal!! LOL. Friggen scamers.

[edspring1]

Personaly I hate Pay Pal. If you ever read their Terms & Conditions it would scare the crap out of you. Either way Buying or Selling. As a seller you better make 100% sure you sent the customers package according to THEIR guidlines. Proper Insurance, Confirmation Signature, ETC. Things that not all buyers want to pay for, you have to make them to be secure in the event something may go wrong, or pay for it yourself. Make NO MISTAKES about it, they are like every other big company only this one is dealing with YOUR money. And then there are their time limits for any type of claim. Just like flea-bay. You have to jump threw all the hoops, do all the forms, and do it all within thewir time limitations.
Postal Money orders are just as bad if not worse {sorry Scorpio}
Once the seller/buyer cashes it, its done. Unless you want to pursue civil action. Last time I ck'd even with the receipt the P O takes 30 days to stop payment from the time you do all the forms. Absolutely no recourse threw the P O what so ever.
I hate Pay Pal, their fees, guidelines, etc., BUT I do use them because the seller prefers it, atleast with them if anything goes wrong you have some sort of chance of getting refunded. As a seller, I make 100% sure I do everything according to their guidelines.
I haven't found a better way of sending or receiving funds yet. Anyone have a better way that both parties are protected ? Heck money orders are found to be forgeries everyday. I had a buddy that deposited what was supposed to be a P O Money order, then started to use those funds 2 wks. later and then 2 weeks after that, his bank took the money out of his acct. causing bounced checks, bank fees, etc. Because it was a forgery.
Like I mentioned I just don't know of a safer way than Pay Pal like them or not. I think the key to all this is, if both parties would just be honest we wouldn't be having this conversation.

[zipper06]

The biggest problem with paypal, and i use them, have for over 10 yrs. is that no matter what you do, all percausions taken is if the buyer files a complaint, that the parts were misrepresented or not what was advertsed (even though it was) they will refund his money to the buyer, and you may or may not get the parts returned and the seller has no options. They will deduct the funds from your account or from your bank account, (if registered) I personally bought an injection pump from a guy in Ca., he never sent it, i filed a complaint and the guy had taken the money out of the paypal account, and closed his bank account. I got part of the money back, but ebay took their cut and i was still out over $100.00 for something i never recieved.

Zip.

[Scorpion1110]

Personaly I hate Pay Pal. If you ever read their Terms & Conditions it would scare the crap out of you. Either way Buying or Selling. As a seller you better make 100% sure you sent the customers package according to THEIR guidlines. Proper Insurance, Confirmation Signature, ETC. Things that not all buyers want to pay for, you have to make them to be secure in the event something may go wrong, or pay for it yourself. Make NO MISTAKES about it, they are like every other big company only this one is dealing with YOUR money. And then there are their time limits for any type of claim. Just like flea-bay. You have to jump threw all the hoops, do all the forms, and do it all within thewir time limitations.
Postal Money orders are just as bad if not worse {sorry Scorpio}
Once the seller/buyer cashes it, its done. Unless you want to pursue civil action. Last time I ck'd even with the receipt the P O takes 30 days to stop payment from the time you do all the forms. Absolutely no recourse threw the P O what so ever.
I hate Pay Pal, their fees, guidelines, etc., BUT I do use them because the seller prefers it, atleast with them if anything goes wrong you have some sort of chance of getting refunded. As a seller, I make 100% sure I do everything according to their guidelines.
I haven't found a better way of sending or receiving funds yet. Anyone have a better way that both parties are protected ? Heck money orders are found to be forgeries everyday. I had a buddy that deposited what was supposed to be a P O Money order, then started to use those funds 2 wks. later and then 2 weeks after that, his bank took the money out of his acct. causing bounced checks, bank fees, etc. Because it was a forgery.
Like I mentioned I just don't know of a safer way than Pay Pal like them or not. I think the key to all this is, if both parties would just be honest we wouldn't be having this conversation.

As a seller there is one important point-and its this point that makes A USPS MO far safer to you than receiving a Paypal-

If the buyer is unhappy with the item and sent you an MO, THEY need to pursue it through the PO,

If they sent you a PAYPAL, Paypal can unilaterally decide the buyers right, immediately freeze your account and you dont have item or funds.

Read my post- Thats what I am saying.

From a buyer standpoint paypal is better-far better. From a sellers standpoint its safer to take a USPS MO.

Wait until Paypal freezes your account due to a buyer scam and we will see whether you still want to use them.

IF YOU ARE A SELLER IT IS SAFER TO AVOID PAYPAL-PLAIN AND SIMPLE.

Scorp

[bixblk]

I have used paypal in the past and still use them for buying small stuff for the kids because of the convienence.
I have posted this before, but this was my experience
Things may have changed because this was about 5 years ago.
I bought a car part (dominator carb) from a private party, I got it and it was a broke down 600, I alerted the seller and after a couple of tries he emailed me and played the game that he sent me a dominator, when he called he told me good luck.
So I alerted paypal and this dude that sold it to me had the game down pat, he had shipping info signed for etc. But honest I bought a dominator and got a busted ass 600. Paypal did not support me at all. So at the time I had approximately $ 2800.00 in my PP account I tried to get my money out and because I had "pressed" them so hard about my experience and logged a formal complaint, they told me that I could only take out $ 500.00 a month and they would charge me $1.50 to cut the check each month. The BS part about this was I had gotten checks from them in the recent past for 850 and 900 but now all of a sudden they told me my account had a 500 per month limit to remove funds, and they charged me 1.50 to cut the check.
Some small items I will use pay pal, but in general they are nasty
Jeff
JMO

[smokingwheels]

I have my Wagon up for sale online.

Got a sms from a guy his name showed up on my phone as if he was in my address book, the msg contained his email address asking me to contact him, so I did but in my reply I gave a link to my web site for more info.

The first reply contains a link and instructions on how to get paypal account and a story about how his bank account is not online...yea right as if.
I then went to a few search engines and typed the email address user name and found nothing so no online history.
Well if I was buying a 1984 Wagon for $10 000 I would want to know a bit more about the modifications before depositing the money into a paypal account .

I sent a reply about removing personal file from my PC based ignition system and that I would need a few days, I even rang paypal and confirmed no buyer protection on cars.

In his next reply he said, I was just about to make the payment when i had this little problem with the picking up agent.
To fix the problem I would have to do a western union money transfer for £500 to his agent in Malaysia, and he tells me to go to a post office or online. as if I have that sort of money in the bank.

I sent a reply and haven't had anything back for 6 hours now.
I sent this,
To do a western union transfer I would have to withdraw funds from paypay first that takes a few days.
Whats the name of you pickup agent in Malaysia?

I just discovered this forum today nice name, well its put my mind at ease now after reading these posts thanks.

[Scorpion1110]

The Paypal Scam made the list.

This is required reading these days;

http://money.cnn.com/2011/07/26/technology/internet_scam_artists/index.htm?cnn=yes&hpt=hp_t2

Scorp