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Post subject: Questions about using Pay-Pal
Posted: Sat Feb 01, 2014 9:32 pm
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Professional Musician
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Joined: Tue Jul 17, 2007 4:54 am
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Location: Laurel, MD
So I've decided to break down and sell some guitars on e-bay, but I've never used Pay-Pal before. I have some questions and concerns.

1. How secure is it? I mean the application form asks for my checking account information and SSN. I'm not too cool about that.

2. Right now I'm using my credit card to pay for it, but how will I get paid if I don't use a checking account?

3. Also is it possible to do with without giving Pay-Pal my SSN?


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Post subject: Re: Questions about using Pay-Pal
Posted: Sat Feb 01, 2014 9:51 pm
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Hobbyist
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Joined: Sat Jan 19, 2008 11:23 am
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Location: Upstate N.Y.
I've been using paypal for years,never had a problem.
If you don't use your bank account, your money stays in your paypal account.
I've used the paypal dispute, with a ebay seller that didn't send me my stuff,they resolved the issue,and I got my money back.
You'll have to give them your ss # to open an account.


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Post subject: Re: Questions about using Pay-Pal
Posted: Sun Feb 02, 2014 2:24 am
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Aspiring Musician
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Joined: Sun Apr 14, 2013 4:41 pm
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Location: Sydney. Australia
PayPal is an ideal facility for scamers of all sorts.
Their Buyers protection policy is a joke and non-existent.

Good luck! :!:


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Post subject: Re: Questions about using Pay-Pal
Posted: Sun Feb 02, 2014 5:50 am
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Location: Indiana
^ Not sure what that is about....things might be different in Aus...?

I have used PayPal for several years, no problems, and great protection if you are a buyer. From a seller's perspective, PayPal gets a percentage of your sale, described on their site based on total sale price.

I don't like it one bit, but these days you have to give a SS # for a credit card, bank account, utilities, credit check, and many other transactions, and I think that it's better to give the # to one source which you can use for many transactions and the buyer or seller get none of your bank or CC or SS info, and you don't have to hassle with checks or money orders or setting up to accept CCs. Many retailers accept PayPal, and I like not having to give my CC # out multiple times.

PayPal is as safe, as secure as a CC, if not more so. As pointed out, you can leave the money in your PayPal account (interest bearing), or transfer any balances to your bank account, but I believe that you have to have a bank account in order to open a PayPal account.

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Post subject: Re: Questions about using Pay-Pal
Posted: Sun Feb 02, 2014 8:05 am
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I've had a n acct for several years and never an issue yet. Also as mentioned, they do go to bat for you in disputes.

For what it's worth, check out Reverb.com too. It's smaller than eBay, but is all musical instruments and gear. :wink:

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Post subject: Re: Questions about using Pay-Pal
Posted: Sun Feb 02, 2014 8:23 am
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Rock Star
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Location: Connecticut
I'm using Paypal for some Vintage Gibson Les Paul Custom parts I sold / selling....
It works well, but you do have to submit personal info ... No way around that....
But it is better than giving your personal banking info to a buyer / seller ( NEVER )

Is it safe ... ??? YES .... As safe as any encrypted transactions that involve currency exchanges...
Is It Fool Proof ... ? NO ... There isn't a bank account or for that matter any repository of info that is impregnable... Those are the risks ( very minimal ) of internet banking....

That being said, Do the max for your user name and password, make it so it does not reflect or hint / clue to any of your personal info....
After your initial sale, you will need to update your info to transfer funds from Paypal to your bank account..... The following is critical ....

Paypal will ask you to confirm who you are by either a phone pin and E-mail response ...
Or by submitting your bank routing, account, password, SS.... Do Not Do The Latter.... It does allow you quick access to your funds..... BUT the downside is that all your pertinent and sensitive private info is being repeated and sent out to a third party ( Pay Pal ) that has absolutely no need to know that info to transact....
You will have to build a reputation, funds will not be available immediately upon sale.

For the small inconvenience, it is really the best way to transact with an unknown party....

Do some research and see what successful PayPal sellers / buyers do to protect themselves...

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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 7:29 am
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Professional Musician
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I've been hooked up with PayPal since they started and I have never had any issues. I was doing a lot of selling back in the late 90s and I would just transfer from PP to my bank account about once every two weeks, never any issues.

Once eBay bought PayPal, things (of course) got a little more difficult and more expensive, but I still require PayPal on all of my auctions, as do a large percentage of other sellers.

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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 8:05 am
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Location: In a galaxy far, far away.
When I set up my paypal account years ago, I was not required to enter in a bank account or SIN #.
Maybe the Canadian site is a little different or things have changed since I signed up.

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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 8:10 am
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Professional Musician
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I've used Paypal more than 15 years.

I also have a Merchant Acct. w/ Paypal because of the online Biz I have selling vintage Euro Car Parts.

Frankly, Paypal SUCKS... !!

But... they're also the Only Game in Town so whaddayagonnado ..??

They require the same info. it takes to open a Bank Acct. in this post-911 World.

Few other options for you except Check (and waiting to ship until the check clears) and Direct Deposit/ Wire Transfer (set up a separate, un-linked acct. for this).

But, to effectively Sell on eBay or CL, you also have to be easy to deal with...

So Paypal it is...

cheers!

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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 8:32 am
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Aspiring Musician
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I setup a new saving account just to transfer my funds too I never had a issue. The only thing that sucks is Ebay and Paypal fees are a rip off.


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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 9:05 am
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Professional Musician
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goodinbed wrote:
I setup a new saving account just to transfer my funds too I never had a issue. The only thing that sucks is Ebay and Paypal fees are a rip off.

Yeah, Why can't every thing be 5 cents? :?


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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 9:57 am
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Aspiring Musician
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I've had no issues with PayPal, but like anything else related to this type of thing, you have to watch your $@! and pay attention when dealing with this stuff.

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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 10:40 am
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Roadie
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Joined: Fri Dec 20, 2013 8:29 am
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PayPal is one of those necessary evils. Given the fact that it's owned by eBay, you have few other choices to simplify the purchasing process when selling on eBay.


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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 10:58 am
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goodinbed wrote:
I setup a new saving account just to transfer my funds too I never had a issue. The only thing that sucks is Ebay and Paypal fees are a rip off.


Check out Reverb.com :wink:

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Being able to play and enjoy music is a gift that's often taken for granted.

Don't leave home without it!


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Post subject: Re: Questions about using Pay-Pal
Posted: Wed Feb 05, 2014 12:03 pm
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Joined: Mon Feb 25, 2008 8:47 am
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I've used PayPal since the beginning as well and never had one single issue. But I dont like selling on eBay because of the fees either.


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