I see some people only accepting payments from paypal if it's from the account balance. How is this safer (are they unable to charge back)? I'm new to transactions and one thing that scares me is selling gold to someone via paypal and having them chargeback exit scam so any knowledge on the subject would be appreciated. Crypto is another option but then there are transaction fees when you try to convert the crypto back into cash. 

Thanks in advance!

7 minutes ago, gyrater said:

I see some people only accepting payments from paypal if it's from the account balance. How is this safer (are they unable to charge back)? I'm new to transactions and one thing that scares me is selling gold to someone via paypal and having them chargeback exit scam so any knowledge on the subject would be appreciated. Crypto is another option but then there are transaction fees when you try to convert the crypto back into cash. 

Thanks in advance!

Of course you can still receive a chargeback. As long as you check for vouches before your sales/sell to well-known gold sites, you'll be fine. Following these two rules I've never had to deal with a chargeback and I've been using paypal since around 2015.

Edited April 2, 20196 yr by AsBakedAsCake

1 minute ago, AsBakedAsCake said:

Of course you can still receive a chargeback. As long as you check for vouches before your sales/sell to well-known gold sites, you'll be fine. Following these two rules I've never had to deal with a chargeback and I've been using paypal since around 2015.

then why does it matter if it's from their balance? I'm assuming the other option would be some sort of credit system from paypal?

Just now, gyrater said:

then why does it matter if it's from their balance? I'm assuming the other option would be some sort of credit system from paypal?

The bank will automatically refund the money to the buyer, whereas PayPal will freeze the disputed funds in the seller's account while the claim is decided.

It's much harder to get it back via balance.

1 hour ago, AsBakedAsCake said:

The bank will automatically refund the money to the buyer, whereas PayPal will freeze the disputed funds in the seller's account while the claim is decided.

 

5 minutes ago, Dbuffed said:

It's much harder to get it back via balance.

Appreciate the answer you two, sad to hear it's still possible for a chargeback though

Gold sites don't exactly offer the highest price. 

2 minutes ago, gyrater said:

 

Appreciate the answer you two, sad to hear it's still possible for a chargeback though

Gold sites don't exactly offer the highest price. 

Gold sites have a higher markup due to their fees paid to fraud protection and also assuming they will receive chargebacks. It might suck but at low FB you might not have a choice

3 minutes ago, gyrater said:

 

Appreciate the answer you two, sad to hear it's still possible for a chargeback though

Gold sites don't exactly offer the highest price. 

Anything is possible in the minds of PayPal, just really hard to do it with raw balance.

There are other ways to also get rid of such problems, ID and such.

2 minutes ago, Night said:

Gold sites have a higher markup due to their fees paid to fraud protection and also assuming they will receive chargebacks. It might suck but at low FB you might not have a choice

Even with high FB you guys have to worry about chargebacks from exit scams (as rare as they may be).

P.S I hope you don't change your profile pic anytime soon. Everyone needs a daily reminder of how cool Aang was  

2 minutes ago, Dbuffed said:

Anything is possible in the minds of PayPal, just really hard to do it with raw balance.

There are other ways to also get rid of such problems, ID and such.

speaking of collecting IDs, how does that help you prevent a chargeback? I've always wondered how you'd use that (other than doxing them as a deterrent haha)

1 minute ago, gyrater said:

Even with high FB you guys have to worry about chargebacks from exit scams (as rare as they may be).

P.S I hope you don't change your profile pic anytime soon. Everyone needs a daily reminder of how cool Aang was  

speaking of collecting IDs, how does that help you prevent a chargeback? I've always wondered how you'd use that (other than doxing them as a deterrent haha)

A lot of people claim the "payment wasn't from them", if you have their ID + other details it counteracts that.

1 minute ago, Dbuffed said:

A lot of people claim the "payment wasn't from them", if you have their ID + other details it counteracts that.

Ahh didn't think that would suffice as evidence but I guess it's not too easy to refute how a complete stranger has a photo of your driver's license and you paid him for a service/goods. Then comes the issue of privacy. I'm assuming you'd have to be very trusted for people to think sending you a photo of their ID won't cause any issues for them.

5 minutes ago, gyrater said:

Ahh didn't think that would suffice as evidence but I guess it's not too easy to refute how a complete stranger has a photo of your driver's license and you paid him for a service/goods. Then comes the issue of privacy. I'm assuming you'd have to be very trusted for people to think sending you a photo of their ID won't cause any issues for them.

Yep I would assume so also. 

It's really part and parcel with everything you do, things such as confirmation on chat logs, optional notes and such have to be added in play.

Just now, Dbuffed said:

Yep I would assume so also. 

It's really part and parcel with everything you do, things such as confirmation on chat logs, optional notes and such have to be added in play.

I started screenshotting everything right from my first ever transaction haha. Good habits should be formed as early as possible

Crypto fees are really small if you use a crypto exchange.

8 minutes ago, Proton said:

Crypto fees are really small if you use a crypto exchange.

Smaller than paypal Proton? my impression was that selling small amounts of crypto (Approx $50/day)  might incur trading fees that add up to become a decent chunk of profits