Hi,
I am selling my car. The buyer want to pay via PayPal. Their reason is they have money ready in their Paypal account already.
The process is they come to my place, transfer money via PayPal straight to my account which I believe it will shown up right away in my account and I withdrawn it to my bank account immediately.
I am willing to do the deal but is there any precautions that I should take?
Will it safe enough?
Thank you
cash only cuz
Cash only! Especially if you're already meeting them face to face!
They could be using a fraudulent/hacked Paypal account. Once it's reported, PayPal will reverse the transaction and you're screwed. Even if its not fraudulent/hacked, they can still put a claim in and have the transaction reversed.
Tell them you're happy to wait for them to transfer the funds out of their paypal into their bank account and then withdraw it.
is there any precautions that I should take?
Only 1, REFUSE PAYPAL.
Typical scam.
Doesn't matter if you do withdraw the money from your bank account, when the payment is reversed Paypal will recover the money from your account putting it in the Red and you'll have to repay your bank.
You are getting scammed.
they can withdraw the funds to a bank account for free
Tell them to draw the money out via credit card to their bank account because it's instant, and you'll wear the the 1% fees
Call their bluff.
Ask them what bank they are with, ask to meet them at an address where a branch of their bank is, then get them to transfer it to themself and then take out the cash and give it to you. But it won't as it's a scam.
Their reason is they have money ready in their Paypal account already.
I don't know much you're selling the car for but I doubt someone keeps large sum of money with Paypal because they can suspend the account and lock the funds at any moment.
I withdrawn it to my bank account immediately
Have you verified your account with Paypal or have frequently been moving a large sum of money($1000+) with Paypal? Otherwise, they may lock your account and it's a huge pain to deal with it.
DON'T DO IT BRO
Unless you have a track record with PayPal they will make you wait a couple of weeks to get the funds out of your account
You may as well skip the paypal scam and just give them the car.
I withdrawn it to my bank account immediately : By doing that you have all scams covered as most are based on the funds not hitting your account .
PP won't reverse if buyer has taken off with car . Contact them if you don't believe me .
Too many people panic merchants in this thread worried about $5 reversals and don't know the system .
By doing that you have all scams covered as most are based on the funds not hitting your account
Nope, I would say thats #2.
PP won't reverse if buyer has taken off with car
Paypal wont, but bank might and Paypal can't do anything but pass the debt on to you.
Unless this is some kind of special transaction where if OP doesnt sell to this buyer, he'll never have this opportunity again, there's no reason to take on this risk. Guaranteed payments > maybes.
Ah you buying this car this weekend bro?
From PayPal forum
Moderator PayPal_lucy Moderator
Jun-15-2011 03:28 AM
Re: Advice about selling a car, recieving payment via paypal.
Hey there hasey,Cars aren’t covered under PayPal buyer or seller protection.
This means that the buyer can’t open a case through PayPal, HOWEVER, if there is an issue with the payment (failed from bank or unauthorised) then you would not be covered.
When he is sending someone else to pick it up I would suggest cash on collection.
Final point, you will then have to transfer from PayPal to your bank account, you might find you are limited how much you can take out. Also payments over $10K can be caught up in money laundering issues.
Just have them pay cash
“Yeah, sorry mate, I don’t have PayPal. Just withdraw it from your PayPal account and come over with the cash once it’s cleared. I’ll keep the car for you till you pay. It’s not going anywhere…
They money isn’t on “their” PayPal account, that’s why the can’t just withdraw it to their account. 100% it’s a hacked account.
I know its rocket science to simply check an ID to combat that one .
Besides that many Ebay merchants only form of payment is PP so many people have large amounts in PP . Its not unusual.
you seem to be 'wanting' to get scammed….
excuses why you should take it, rather than 99.9% popular opinion that its clearly a scam…
I would classify this as an unnecessary risk. Can't understand why you would promote taking the risk? Maybe the purchaser is indeed honest, but maybe not.
There is a significant amount of evidence indicating scammers use PayPal this way…. If the purchaser indeed had lots of money in PP asking for the cash or bank cheque is reasonable, up to the seller and merely adds a little time for the purchaser for a huge safety gain for the seller.
Thanks all of you for inputs.
They already transfer me 500$ via Paypal as a deposit. But it will be the last amount I will accept via Paypal.
Already told them to prepare the cash.
Thanks once more
Happy Easter
Don’t leave us hanging.
F
please make sure to report back to let us all know
how the scam— err, i mean sale, went down
Definitely no!
There's nothing instant about PayPal. Use PayID instead.
PayID may not be instant too
PayID prob won't be instant over $1000
I have paid for three motorcycles by Osko/PayID in the last few months, lowest was $2,500, highest was $5,000 and all three were almost instant, I would say the longest one was 10 ~ 15min to process, the rest I was on the phone with them and they confirmed it turned up while I was on the phone.
I tried using payID to buy a car and they blocked the payment because they thought it was suspicious.
They did call up about an hour later and explain, but that made it far from instant.
Every time I advertise on Gumtree I get these scammers pestering me with payment via PayPal.
SCAMMERS.
DO NOT DO IT.
I made sure i don't link gumtree to PayPal. I assume PayPal is giving Gumtree some kickback for pushing it (or it is to give ATO some proof of not running a black economy platform)
As it usually takes two to tango.. What's stopping you from selling cash in hand to a local? Did you list the car on gumtree as accurate and honest as possible?
SUSSSSSS
There are limits you are allowed to have in a PayPal Acc…. at a certain limit, the Au Govt will conduct an audit.
I doubt very much this individual has any such funds, and is who he says.
Just don't do it…. why are people so *&^%$
Ask for screen shots…. contact PalPal themselves….
Just don't do it
If there's a limit it must be pretty high. I've had over $70K in there and nothing happened.
I've done a couple of instant online bank transfers. Definitely avoid PayPal.
ewww no, next up someone from Nigeria will be asking you to ship the car there, with payment via western union…
NO NEVER!!!!!!!!!!!!!!!!!!!!!!!!!
Even if you move your money to your bank account later on PayPal may cancel the payment (to your PayPal account) and then you have a debt with PayPal.
PLEASE DON'T DO IT !!!!!!!
Hi All,
End up not selling that car to that Paypal person but to another one offer cash instead. Thanks you for all of your input
good boy, go and have a beer now :p
Hell no.