Buying and selling tools online using Paypal - Fee Free. No protection.

[jteneyck]

If money comes into your PayPal account from selling something or from a F&F gift, and your account is not linked to a bank account, you have at least two options to use that money.  You can buy something from someone or somewhere that accepts PayPal, or you can have PayPal send you a check via mail.  On your PayPal Summary page, look under PayPal Balance.  There are two options highlighted in blue; the lower one is "Transfer to your Bank".  If you click on that you will see ".... you can request a check by mail for a fee".  If you click on that another screen opens which explains that each check has a charge of $1.50 and that you can only receive $1000 per month via check.  I've used this feature 2 or 3 times now, and received the check in about a week.  I had no problems depositing those checks into my bank account. 

John

[Steve N]

I won't use "friends and family".

It requires a link to my bank account.

Martin this isn't true. I can see a lot of reasons not to use F&F, but using just my CC I can use any of the features they offer. They will however bug the devil out of you, to get you to commit a bank account, because after you do you have given up and recourse should they put the screws on you.

If someone wants to dodge the fees, a check or MO is a way to do it, via the good old USPS. I'm not sure today what guarantees you get with a MO, but if you write a check, you are in the same boat as using PayPal with a bank account.

[Kansas City Fireslayer]

I've used F/F payments here when I've sold tools. I've been on the forum for 13 years and I consider most here as "friends". I agree with what others say about Paypal's policy in accordance with payment declaration. I also use PayPal F/F to pay nearly all my kids fees for services and goods (uniforms/coaching). I'm quite sure our teams aren't the only ones doing so.

From a sellers perspective, I will add that Paypal's sellers protection policy is a joke. There is no recourse on the return of your goods after PayPal decides to refund a buyer for ANY reason. I've only been burnt once by PayPal refunding a blatantly obvious scam--with no return of goods--but their responses to my phone calls were outright comical if not scary for any seller utilizing PayPal for goods of significant value. "The seller should return it on their own". "The honest thing to do is to return your item". There is no follow up or recourse with PayPal. PayPal is Ebay essentially....remember that. Scammers will scam you and you are SOL....Buyers di not have to use Ebay's return policy as they can go straight to PayPal which is like a CC and has less hoops to jump through for a scam. Your only recourse is to file a theft complaint with PD.

PayPal is a gamble for the seller as well and these losses should be calculated into ones budget or business plan if you are "in business". I think this contributes to much more traffic in this S/S forum. Take less than Ebay prices for less headache. It's a win/win for the forum.

[Rob Young]

OK, I have not sold anything with paypal, but I may in the future.

If you only have your paypal account linked to your credit card, how do you get your money?

Don't they just issue you credit to your credit card?

I guess you could "spend" the money, issued to your credit card, but is there any way to get "cash"?

Thanks, I have a few "extra" tools I need to get rid of someday, so I need to know how this works without linking to a bank account.

Inbound money is applied to your PayPal account.  You have the option of then applying it toward a CC balance or having a check mailed.  I believe there is a small service fee for the check.  It's been a few years since I've done this so things may have changed.  

The entire process should be detailed on the PP web site.

[PaulJohnstone]

I think my problem is that when I created the PP account, I put a bank number in. I think once you do that, it won't let you remove it.
It will let you enter a 2nd one, then remove the original one.  So now I might just open an entirely new PP account. Thanks for the tip.

[jteneyck]

Call them up.  I got fast and friendly service when I had an issue. 

John

[Arlin Eastman]

That is really good thing to think about Greg.

I have never thought of it and trusted everyone to send the item in question.  Like now I am selling some 6" and 12" Starrett rules in S&S and just asked for F&F so I do not have to pay the fees, however, I would most certainly not have any trouble having someone sending it the other way and paying the fee.

I guess I will have to watch for that from now on.  Thanks for bringing it up and I really can not afford to be stiffed.