PAYPAL procedure

[Frenchie]

How do you proceed with paypal ? Somebody (I do'nt know) promiss me (by e mail) to pay me with paypal as soon as he has proofs that my domain name has been transfered to him. Is that the correct way ?

 

[GiantDomains]

If its a large sale, use escrow.

 

[Shiftlock]

I agree with doberry, but if you want to do the transaction by PayPal, I would insist on payment before transfer of the domain. Why should you extend credit to somebody you don't know? You pay for the merchandise before you receive it.

 

[Frenchie]

No, it's for some hundreds only. Meanwhile, would the correct way not be that the buyer pay first, and then the seller register the name to buyer's name? Or does it depends ?

 

[GiantDomains]

Yes definitely. Payment first. If you are paypal verified, use that as a reference.

If its a small deal, buyer pays...THEN seller releases. Large deal, escrow.

 

[Frenchie]

Thank you everybody for your advise, but what could be the "break even point" between paypal and escrow? 500, 1,000$ or more?

 

[Shiftlock]

That's really up to the buyer and how much trust he has in you. If he's willing to pay for the domain by PayPal, do it that way.

 

[DomainPairs]

If you are not American don't use PayPal. You have no rights and the money can be grabbed back by an American afterwards. You may not even be able to get your money out of PayPal. If you want a dollar to Euro conversion with escrow. -http://www.auctionpix.co.uk offer a good value service.


PayPal are milking europeans at the moment and I understand that there may be a government investigation into them in the UK.

 

[kingdon]

PayPal is just a service that moves money between a buyer and a seller. When you send money through them, they're not responsible for checking if the person you're doing business with is honest, that's your job. Anything over $500 and you should use an escrow account.

And like DomainPairs says, there are people getting ripped off from Thiefs. When you think of PayPal, think of Western Union, they only transfer money between people. I have used them for years and they've never bungled any of my transactions.

 

[Shiftlock]

I have heard stories about people having all sorts of problems with PayPal, but I can only speak for my experience. I've received hundreds of PayPal payments, some for as much as $4000 (had to be done in two transactions due to a $2000 maximum transfer limit). I've had only one problem. In that instance the buyer apparently used a stolen credit card number to fund the purchase. Luckily it was < $100, so no big deal. If you're afraid of that, then only accept PayPal payments that are funded by a verified bank account.