gyrater Posted April 2, 2019 Share Posted April 2, 2019 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! Quote Link to comment Share on other sites More sharing options...
AsBakedAsCake Posted April 2, 2019 Share Posted April 2, 2019 (edited) 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, 2019 by AsBakedAsCake 1 Quote Link to comment Share on other sites More sharing options...
gyrater Posted April 2, 2019 Author Share Posted April 2, 2019 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? Quote Link to comment Share on other sites More sharing options...
AsBakedAsCake Posted April 2, 2019 Share Posted April 2, 2019 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. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 2, 2019 Share Posted April 2, 2019 It's much harder to get it back via balance. Quote Link to comment Share on other sites More sharing options...
gyrater Posted April 2, 2019 Author Share Posted April 2, 2019 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. 1 Quote Link to comment Share on other sites More sharing options...
Night Posted April 2, 2019 Share Posted April 2, 2019 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 1 Quote Link to comment Share on other sites More sharing options...
Guest Posted April 2, 2019 Share Posted April 2, 2019 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. Quote Link to comment Share on other sites More sharing options...
gyrater Posted April 2, 2019 Author Share Posted April 2, 2019 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) Quote Link to comment Share on other sites More sharing options...
Guest Posted April 2, 2019 Share Posted April 2, 2019 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. Quote Link to comment Share on other sites More sharing options...
gyrater Posted April 2, 2019 Author Share Posted April 2, 2019 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. Quote Link to comment Share on other sites More sharing options...
Guest Posted April 2, 2019 Share Posted April 2, 2019 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. Quote Link to comment Share on other sites More sharing options...
gyrater Posted April 2, 2019 Author Share Posted April 2, 2019 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 Quote Link to comment Share on other sites More sharing options...
Proton Posted April 3, 2019 Share Posted April 3, 2019 Crypto fees are really small if you use a crypto exchange. Quote Link to comment Share on other sites More sharing options...
gyrater Posted April 3, 2019 Author Share Posted April 3, 2019 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 Quote Link to comment Share on other sites More sharing options...
