danthefisherman Posted August 16, 2017 Report Share Posted August 16, 2017 This is a pretty noob question, but can someone describe a buying/selling transaction with PayPal from beginning to end? I've never actually used it before and am looking to broaden my horizons. Would also like to hear any tips or advice on good buying/selling practices From what I understand, a seller lists a product, the buyer expresses interest, seller sends invoice, buyer pays price, and then the seller ships the product. Friends and Family transactions are exempt from PayPal fees but are less secure. Is this basically how it works? Thanks for the help! Quote Link to comment Share on other sites More sharing options...
evilcatfish Posted August 16, 2017 Report Share Posted August 16, 2017 You pretty much have it right except the seller doesn't have to send an invoice. You can send money to anyone at anytime as long as you have their PayPal address, invoice or not Quote Link to comment Share on other sites More sharing options...
Rogervang Posted August 16, 2017 Report Share Posted August 16, 2017 seller should always provide a tracking number. that's a plus. Quote Link to comment Share on other sites More sharing options...
Cochran53 Posted August 16, 2017 Report Share Posted August 16, 2017 Also, I recommend that you insist on goods and services. Whether that means you pay a little extra, or the seller loses a little, you are both protected. It's the one sure way to avoid losing money/baits to fraud. With that being said, it is probably safe to use paypal gift/friends & family for the vast majority of people that use this forum. There have just been too many bad apples for me to risk it anymore. asavamedhi 1 Quote Link to comment Share on other sites More sharing options...
bigpoppabass Posted August 16, 2017 Report Share Posted August 16, 2017 I rely on member's number of posts to decide if friends or family, and/or whether I want to do the buy. I usually put shipping address in paypal note if I am buying. I also advise if I received or sent money. Tony91723 and evilcatfish 2 Quote Link to comment Share on other sites More sharing options...
Good Year 71 Posted August 16, 2017 Report Share Posted August 16, 2017 Cochran53 recommendation is relevant to private transactions and I agree with him 100%. Goods and Services is the same as paying an invoice from retailer; it's a sale. The Friends and Family gift option provides zero buyer protection; retailers do not offer this payment option. When you gift to anyone, for any reason, you will never get that money back unless the other party decides to do so. Though there are well meaning and good intended folk who ask for this, it also is the ONLY place scammers and cheats operate. Just don't do it. Add 3.5% to purchase total so as to cover recipient fee or walk from the buy. I've learned this the hard way more than once. I resisted PP before buying into concept and feel stupid not doing it earlier. The service is designed around principle of having your personal payment information with but one vendor: PayPal. This saves you from having your credit card or bank information stored in servers around the world just waiting to be hacked. At worst, it's not a bad idea. At best, it can save you months of trouble. The service fee is paid by retailer, it costs you literally nothing. A private seller would also have to cover this fee, hence you add 3.5% to cover their gap. Sending payment as gift is entirely at your own risk. Register, it's a onetime thing unless you decide to update payment option such as new card or bank account. That's it, very simple. Quote Link to comment Share on other sites More sharing options...
BrhodesBassin Posted August 16, 2017 Report Share Posted August 16, 2017 Do yourself a favor and pay the fee Mountainryan and surfk9 2 Quote Link to comment Share on other sites More sharing options...
Mountainryan Posted August 16, 2017 Report Share Posted August 16, 2017 Yup, just plug in the email the seller gives you and follow the prompts on PayPal, I don't trust anyone with money, pay the 3% or risk losing it all. I have had people assume I was doing a gift but if I had told them that I would prefer to pay the fee and they said no, I would walk from the deal. I have also had bait makers send me an invoice when baits are done. Same principle. surfk9 1 Quote Link to comment Share on other sites More sharing options...
andrewbee Posted August 16, 2017 Report Share Posted August 16, 2017 Agree 10000000% with everyone here.... Want to add this tip I opened a bank account ONLY for paypal transactions. The account is also link'd directly to paypal...Whenever you link your bank account with paypal, the whole "paying 3%" is bypassed. Haven't paid a fee for goods & services in 3 years and opened up claims for refunds without an issue during that same time frame. I also like this because I've caught people trying to scam me... (Neil Dootson / Darkside reels.. sorry not sorry for name dropping) insisted I send gift and assured there were no problems.... I never got my reels, never got my bearings... But I did get the money that I sent (without having to pay a fee) Hope this helps anyone in the future with dealing with a scammer. asavamedhi and Garrett 2 Quote Link to comment Share on other sites More sharing options...
danthefisherman Posted August 16, 2017 Author Report Share Posted August 16, 2017 Thanks for all the replies! It's extremely helpful! Is an invoice a good idea though? It's almost like a receipt or proof of transaction in my mind... Quote Link to comment Share on other sites More sharing options...
Good Year 71 Posted August 17, 2017 Report Share Posted August 17, 2017 User history is recorded as long as you maintain account. PP also sends an email confirmation upon transaction. That written, an invoice is never a bad idea, though not necessary. You could always just look it up. Quote Link to comment Share on other sites More sharing options...
deaknh Posted August 17, 2017 Report Share Posted August 17, 2017 Agree 10000000% with everyone here.... Want to add this tip I opened a bank account ONLY for paypal transactions. The account is also link'd directly to paypal...Whenever you link your bank account with paypal, the whole "paying 3%" is bypassed. Haven't paid a fee for goods & services in 3 years and opened up claims for refunds without an issue during that same time frame. I also like this because I've caught people trying to scam me... (Neil Dootson / Darkside reels.. sorry not sorry for name dropping) insisted I send gift and assured there were no problems.... I never got my reels, never got my bearings... But I did get the money that I sent (without having to pay a fee) Hope this helps anyone in the future with dealing with a scammer. I don't get the bank acount to paypal avoiding the fees. The fees are paid by the seller, not buyer. When people say to pay the 3%, it means add the fee on to the sellers asking price to stay safe. The fees are never automatically added to the buyer, only the seller. Quote Link to comment Share on other sites More sharing options...
Nick S. Posted August 17, 2017 Report Share Posted August 17, 2017 If your PayPal account is linked to a credit/debit card instead of your bank account it will charge you a fee as the buyer. Quote Link to comment Share on other sites More sharing options...
deaknh Posted August 17, 2017 Report Share Posted August 17, 2017 (edited) If your PayPal account is linked to a credit/debit card instead of your bank account it will charge you a fee as the buyer. That's odd, I'm linked to a card and a bank account as well as paypal credit and I've never paid a fee as a buyer. I have been using paypal for over 10 years. Edited August 17, 2017 by deaknh Quote Link to comment Share on other sites More sharing options...
waynem Posted August 17, 2017 Report Share Posted August 17, 2017 If your PayPal account is linked to a credit/debit card instead of your bank account it will charge you a fee as the buyer. If you are only linked to a credit card then you are charged a fee if you send money as Friends & Family. If you are linked to a bank account then the fee to send money to a friend is waived. When you buy something as Goods & Services the seller pays the fee, not the buyer. Also keep in mine there are some scammers out there who know how to work the system. One way they do this is to "mistakenly" overpay for your stuff if you are the seller. So if you have a $75 bait they send you PayPal payment of $175 and then say "Oops I mistakenly sent you $100 too much money. Send $100 back to me as Friends & Family". If you do that you cannot recover the $100 from PayPal if they disappear because the refunded money goes immediately into their account with no waiting period. Scum like that may then lie and say they never received the bait you sent, file a claim with PayPal and you will be out everything If you are dealing with someone new or questionable you are better to pay as Goods & Services and link the payment to a credit card rather than the bank account. That gives you 2 levels of protection if something goes wrong. Quote Link to comment Share on other sites More sharing options...
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