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Accepting £5500 through paypal? Yes/No?


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Looks like i have sold my boat on ebay, although the guy has asked if he can pay for it through paypal.



As its such a large sum of money, I am not sure if i should accept it or not. I know there is no buyer protection on boats as its classed as a vehicle so he cant raise a payment dispute, but I am sure the money can still be charged back through his bank.



Hmmm he might be genuine but i am not sure, anyone else dealt with large amounts of money through paypal?



Last thing i want is to give him the boat then my paypal balance suddenly goes minus 5 grand!



or am i just being paranoid?


Edited by Taggy
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If its being posted then yes,


If its being collected then no.



The buyer can say he never recieved the item after it has been collected and you will not have proof pf postage


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im the same here about the ducati, got offerd the money he wants the money sent pay pal, im unsure about this as pay pal favors the buyer and I don't want him to have the bike then brake something and go hey you sold me a bad bike


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A lot of people use paypal so they can pay via credit card if the don't have cash up front. Be aware you paypal might get frozen depending on what stage of account you have as there limited to £1900 per year. This can be uncapped just takes a few emails and firm filing.

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i was just in the same case buying a bike frame ( no where near that money ) but the seller wasnt overly keen on ending his auction early for a cash buyer as the last time the buyer didnt show so we agreed on this



half upfront through paypal to show commitment


remaining half cash on collection



maybe worth doing something like this but with that amount of money id write up something he has to sign on collection to say hes collected it ............ cover your ass at all cost



james


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Dont do it mate I done this and if the buyer does not have the money in his account eventually the bank charges it back leaving you that amount of money down.... get a bank transfer or cash

Edited by lee659
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Even if he pays you a deposit on a credit card and then pays you the rest cash on collection he's covered for the full amount via the credit card anyway it sucks for genuine seller's it comes down to trust unfortunately I purchased my engine ect on credit card just so I was covered if it turned out to be a bag of shit! The best way is to draw up a legal document for him to sign to confirm he is happy with the purchase and everything has been checked and checks out that way he won't have a leg to stand on because it would be down to him to have done all the relevant checks for him to be satisfied with what he is paying for and if anything was to happen it would be down to him plus you'd have proof of collection and purchase! It's hassle but for that amount of money it's well worth it.

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Used to be an old scam when I sold stuff for an online game I played people would have the money in there account buy using PayPal it would go though fine as the balence showed as available. Then they just had to remove the cash from the account by the time PayPal took the money it was gone and they would just do a charge back and as the seller you lost the money. I got done for 200quid and they tryed to take me to court over it. I'd be very wary if you do it. Send them an invoice get a full receipt with copy's of there photo id so if they do try scam you. You have a leg to stand on

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A lot of people use paypal so they can pay via credit card if the don't have cash up front. Be aware you paypal might get frozen depending on what stage of account you have as there limited to £1900 per year. This can be uncapped just takes a few emails and firm filing.

I've done it, 7k limit on my credit card and the easiest way to pay a private seller with it is by PayPal. I'd accept it but wait out until the moneys cleared and in your bank account.

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decided not to use paypal in the end, I rang up their customer services and they even advised me against using them for large transactions and told me to take cash lol!!!!



Says it all really


Edited by Taggy
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