PAYPAL

[briano]

Dumb question but how does Paypal protect a Buyer? Let us say, I buy £1000 watch on fleabay and pay through my credit card into my Paypal account, how am I protected in the vendor defaults?

Briano

[andy tims]

If the buyer completely defaults (does not post your goods) you file a dispute & if you get no joy can excelate to a claim, then you can get your money refunded, but there are limits - buying a £1,000 watch you might get £500 back.
However, the best bet is to check the sellers history first & pay for recorded delivery.

[gilford]

Also, if you pay through Paypal AND use your credit card to fund the purchase you are also covered under your credit cards insurance (which is a lot better than Paypal's crappy protection).

I have heard that Paypal have started a new thing where as if you buy an expensive item from a new member on e bay, the money is held in Escrow (if that is the right word) for a set amount of time to make sure all is ok but this is something I have only just heard, I'm not sure if it is in effect as yet

[eccles]

Paypal can only get money back from someone if they have the money in their registered account.
If you are claiming back £1K and they only have £3.14 in their account, thats all you'll get, if the accounts empty, you'll get nothing.

[Stamp]

eccles said:

Paypal can only get money back from someone if they have the money in their registered account.
If you are claiming back £1K and they only have £3.14 in their account, thats all you'll get, if the accounts empty, you'll get nothing.

Wrong. So wrong.
I sold a phone to someone for £300.
He received it and left feedback.
Three months down the line he tells his card company he didn't authorize the transaction. The card co took £300 from paypal who took £300 from my paypal. This left me £300 in the minus. Then started debt collection proceedings against me with threats of court action etc.
IMHO Paypal is great to pay with, no good to sell and receive with.

[M5 Russ]

Stamp said:

eccles said:

Paypal can only get money back from someone if they have the money in their registered account.
If you are claiming back £1K and they only have £3.14 in their account, thats all you'll get, if the accounts empty, you'll get nothing.

Wrong. So wrong.
I sold a phone to someone for £300.
He received it and left feedback.
Three months down the line he tells his card company he didn't authorize the transaction. The card co took £300 from paypal who took £300 from my paypal. This left me £300 in the minus. Then started debt collection proceedings against me with threats of court action etc.
IMHO Paypal is great to pay with, no good to sell and receive with.

You should have went to court as you have done nothing wrong. A filed a counter claim for theft or whatever.
Paypal can only cause you grief when you do not involve the court.
Any sort of problems then get a small claims court action going.

[bigbaddom]

Doesnt the credit card insurance only cover you for new items? this is a question not a statement, but one I fear to be true.

[phelix]

bigbaddom said:

Doesnt the credit card insurance only cover you for new items? this is a question not a statement, but one I fear to be true.

No, new or used make no difference.

[TheStoat]

One other thing to watch out for... Credit card companies have started to put exclusions in the fine print to the effect that buying from a UK website is ok but US etc website purchases will not be covered. I guess they want to limit their exposure to fraudulent and genuine claims where they cannot recover the money. What effectively becomes an international dispute could quite easily see the recovery cost the credit card company a lot of money and keeping things within the UK limits the cost to them. Trying to remember which card I had where this was the case, might have been Barclaycard or Egg..... Best bet is to phone your customer services and ask directly if a particular purchase would be protected