what is the Pay Pal scam

Old 06-23-2011, 05:56 AM
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td65
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Default what is the Pay Pal scam

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
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Old 06-23-2011, 03:52 PM
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RonOwensRacing
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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
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Old 06-24-2011, 03:18 AM
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Scorpion1110
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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
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Old 06-24-2011, 03:33 AM
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oldandtired
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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
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Old 06-24-2011, 07:58 AM
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td65
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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!?
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Old 06-24-2011, 06:28 PM
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Scorpion1110
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Originally Posted by 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
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
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Old 06-25-2011, 04:33 AM
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I learn something new every day.
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Old 06-28-2011, 08:14 AM
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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.
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Old 07-14-2011, 06:23 PM
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edspring1
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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.
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Old 07-14-2011, 08:54 PM
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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.

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