Selling on FB Marketplace and Buyer is insisting on making PayID payment. What could go wrong?

xers on 27/01/2023 - 10:03
Last edited 29/01/2023 - 09:21

Selling my old graphics card on FB marketplace and after numerous low balling attempts (as expected), someone finally offered last night to buy it at my asking price + $10 for me to deliver it to him (2 suburbs over, 15 min drive). The only issue is he is asking to pay by PayID. Initially, I agreed but explained that I would need payment to be cleared first before delivering the card to him in the morning, which the buyer was happy with and said he would pay in the morning before I reach his house.

However, this morning, I had second thoughts and decided to do some quick googling and found that apparently PayID payments can be reversed if the request is made within 24 hours? I proceeded to tell the buyer this and insisted that payment be made by cash. For his trouble I was willing to deliver it free to him. Buyer said he would try to cash out but 15 minutes later messaged back and said that he couldn't for some reason. He asked me to reconsider PayID again and sounded really desperate. As a compromise, I suggested that maybe he could make payment now and I would deliver 24 hours later (i.e. tomorrow morning) which he agreed with.

The buyer has since made payment and I have received it in my account as cleared funds. I have also tried to transfer it to a different account with no issues. Is there anything that could go wrong if I deliver to the buyer's address 24 hours later as promised?

Thanks in advance for all insights.

UPDATE 28/01/2023: Card delivered. No signs of transaction being reversed so far.

Also as requested by Marty131, a poll:

Have you ever had a PayID payment that you have received, reversed?

Poll Options

  • 138
    No, never, and I receive PayID payments all the time!
  • 44
    No, but hardly ever receive PayID payments
  • 1
    Yes, but the funds had not cleared
  • 4
    Yes, even after the funds had cleared
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Comments

  • George2021 on 30/01/2023 - 12:13

    out of curiosity… did he test the card when you delivered it to ensure it wasn't DOA?

  • Associatedvchar @ Facebook on 30/01/2023 - 13:24

    as someone used to develop software for a bank, I could tell you that every banking transaction could be reversible includes card payment, direct debit, PayID, etc. so your odd is up to your bank decision.

    another thing is that you may need to declare your sale proceed for tax purpose if you accept payment through a bank service.

    the only non-reversible transactions are cash and crypto payments. but these come with their own risk too. as for cash payment, you may run into a group of gangs and you eventually get nothing from your sale. as for crypto, it is not really something you want to do with your scale of sale but it probably worth to try if you get a chance.

    so what to do?

    if your buyers are good, their choice of payment doesn't pose any risks to you; otherwise, they can always ask the bank for a charge back or use some sort of tricks to take advantages on you but the odd is not always against you.

    I have been doing a lot buys and sales on facebook marketplace as well as gumtree, and I normally prefer cash payment for small transactions. you know what? I ran into a gang once but I was lucky I could get away from him. the tip is that you should choose a safe place to process your deal to avoid unexpected.

    • Roman Sandstorm on 30/01/2023 - 17:57
      +2

      as someone used to develop software for a bank

      Did you develop PayID? Work on the extensive policies and relationship with Osko?

      Seriously, there's 'panic merchant' info in this thread, and there's 'common sense'.

      There are risks involved with every form of financial transaction. As you even mention, 'gangs' could be hanging around waiting to rough you up and steal your cash.

      But PayID is pretty much rock-solid for everyday small-scale transactions. The only 'issues' or 'frauds' associated with it appear to have nothing to do with PayID itself but rather the usual social engineering upon which scams mostly rely.

      When you sign up at your finiancial institution for PayID there is a long list of terms and conditions. There is also (from the sites I have looked at) advice regarding its use. Because it is secure and instant (although perhaps some banks eg, Commbank, require a one-time initial 24 hour transaction before 'normal' operation), it is trivial to see on one's own phone that a transaction has gone through. And without consent of both parties it is not feasible to reverse a completed transaction.

      PayID also protects both the sender and receiver by the registered name being displayed prior to sending, and upon receipt.

      • G-rig on 30/01/2023 - 18:08
        +1

        Yes nothing at all to worry about.
        Can't believe the topic has gone so long, lot of paranoia and worry wharts in here.

        Also don't know anyone who would declare the sale of second hand items, most of low value.

        Just use eBay if you're worried or buy right the first time (or return the item within the window when new).

  • Rillanon on 31/01/2023 - 04:57

    I've being using payID more and more these days, especially for FB marketplace buys.
    More and more ATMs are getting decommissioned or change over to one that charges you fees so it's actually a huge pain in the ass to with draw cash most days.

  • Motek Benzona on 31/01/2023 - 08:45

    In the old days i ran a 2nd hand business on Ebay. I was Australias biggest seller of 2nd hand goods for a while. It was back in 2002-7 (Ebays golden age of trigger happy lunatics paying $300 for something i bought for $5)

    During that time the only way people EVER paid me was via bank transfer, not even pay ID, just plain old bank transfer. I never had one single transaction go wrong, no scams, no cancellations, no nothing.

    I gave up my 2nd hand business on Ebay when forced paypal became the norm and THAT is when the scams started. As long as you see the money in your bank, do not click on stupid links, do not put up with any kind of "it will take 24 hours to clear let me pick up" crap you will be ok. Bank transfer is extermely saye, and pay ID is even safer.

    Its much easier to lose your money via paypal or Ebays new system. Seling on marketplace with payid is just fine.

  • mickrb30 on 31/01/2023 - 09:27

    if they want to use pay ID dont give them the item until the money is cleared, available on you account, Ie not pending,
    get them to agree on this BEFORE committing to sell.
    Check their facebook gummy accounts on how long they have been active, friends etc. look at the past sold itemsI
    If they been around for years most likely it will be a good transaction, if they just joined be more weary, then cash only.
    Be a detective,also check the phone number on google, it would show up as a scammer if it was recently used multiple times,

  • IdBuyThat4aDollar on 31/01/2023 - 11:08

    I always take payid if possible on marketplace. No issues.

    Only thing to be aware of is if they ask for your email (even when your payid is linked to your mobile number) then it could be suss
    https://www.heritage.com.au/about/news/2023-scam-alerts/2023…

  • Cave Fire on 31/01/2023 - 12:41

    Probably a good idea to double check your receiving payid in your banking app. Sent a transfer back to myself through search for payid by name and pulled up an old Payid. Sending bank was not able to trace the bank used. Thought it was "spoofing" but just an old registration.

  • Ash-Say on 01/02/2023 - 14:53

    There is article on this scam
    https://www.news.com.au/technology/online/hacking/whats-your…

  • quill on 06/02/2023 - 16:52

    It's it possible to reverse a bank transfer? Seller refuses to send me a tracking number and I am worried it might be a scam.

    • G-rig on 06/02/2023 - 21:43

      What makes you think would be a scam. Sounds like dodgy communication, prob best selling to someone else

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