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  1. #21
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    Quote Originally Posted by TeachMePlease View Post
    I have a coworker who recently sold his boat to an older couple who aren't necessarily tech savvy.

    They came and did a sea trial on a Friday, they came back Saturday, looked at it again, and made an offer. He accepted the offer.

    He was communicating with the husband, they were figuring out if they'd meet to exchange a cashier's check, or do a wire transfer, or what... From the background, the wife yells "Oh, honey, I already sent the money with PayPal!"

    My friend freaks out... It's a large sum of money ($26K or so)... It doesn't show in his paypal account for the first day (Monday)... They've already made arrangements for a boat hauler to pick the boat up on Wednesday... Tuesday rolls around, and PayPal tells him he has a pending transaction, but no money.... Wednesday rolls around, still no funds in his account, but the hauler is there to pick up his boat... He reluctantly lets them take it...

    Thursday, Paypal says the money is in his account, but on hold for security reasons (presumably because it's a large amount)... Friday, Paypal says he can move the money to his bank account... He does... It disappears from his Paypal account, but doesn't show up in his bank account... Several phone calls and they tell him it's pending, not to worry...

    Monday... A week later, the money finally shows up in his bank account and he starts breathing again....

    Moral of the story: Paypal kinda sucks.
    Come on now,the wife just assumes that boat owner even has paypal and just HAPPENS to know his email id and just nonchalantly sends him $26000. This sounds like a bar story

  2. #22
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    I've lately had a number of morons- all women as it were - with whom I've been unable to complete a simple transaction because I don't use Paypal or Venmo. Stupid B*tches don't seem able to carry $20 in their pocket.

    Sold a rug on Craigslist for $100. She shows up, 'buys' it, and then tells me she has Paypal. No cash. WTF?

    Took a neighbor's kid along with mine to the water park. Admission $20...she wants to Venmo me the money. WTF? I told her I'd just pay for her kid - it's less hassle.

    It goes on and on...

  3. #23
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    When we go eat at a restaurant I pay the bill the credit card but I pay the tip in cash. It costs me the same to pay in cash and they do not lose money as they will if I tip by card.
    Would you be willing to take a 2% pay cut just so your boss can avoid the hassle of printing checks or using direct deposit? My Dentist offers a small cash discount.
    Bill D

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  5. #24
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    Quote Originally Posted by edwin dirnbeck View Post
    Come on now,the wife just assumes that boat owner even has paypal and just HAPPENS to know his email id and just nonchalantly sends him $26000. This sounds like a bar story
    Do you sell things on Craigslist? If you don't then all this may sound unbelievable to you. If you do then it sounds pretty standard.

    A few months back I answered a craigslist ad in the free section. It was leftovers after the auction of a big company. I made a years wages in 3 weeks following in copper scrap and I put another $400,000 in new product on my shelves and built a healthy Amazon store. These are popular items that retail for $230 each and cost $80 each to buy when you buy 10,000 of them at a time. All I had to do was clean out a 60K sq ft building.

    I sold a truck for $20k to a russian guy that spoke zero english and the guy pulled out a box of $20 bills.

    I had the president of a corrugated cardboard company show up to buy a 30HP screw compressor in a Lamborghini.

    I sold an air compressor to the mayor of a local town. 65 year old man in high heels with double D tits wearing makeup and a beard.

    Bought a big welder 2 days ago. I emailed and the response was from the President of a huge shop in Portland. I joked that I'd only buy the welder if he gave me a tour of his plant. He thought that was great and he did it.

    I've had more than a few small plane owners fly into the local airstrip from states away to buy little things.

    I've got free cars, free CNC machines, free building materials, even a free refrigerated building (camlock refer panels) off craigslist.

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  7. #25
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    Bingo!

    Paypal is not a legally required method of payment for debts, like coin of the realm. By law a business must accept US currency or the currency of whatever country you live in or are presently in. But that is pretty much the only universally accepted method and even then, some may try to get payment in some other form. Paypal is a payment service and no one is required to accept payments through their system. This is just like saying you do not accept checks or credit cards. Or any of a number of payment methods.

    Before the internet many "mail order" sellers did not take personal checks. They were probably burned too many times. I can remember begging someone to accept my check and wait until it clears to send the merchandise. Postal money orders and things like cashier's checks from banks were often used, but what a pain in the a**.

    Paypal does take a hefty percentage. They are taking a risk of the credit cards behind the transaction as they can be stolen and credit card companies add an additional level of user protection. If a credit card company refunds the card holder's funds, you can bet they will take it back from Paypal, without even a single second spent on Paypal's return policy. This costs Paypal money on transactions that are disputed. If your seller is trying to keep his prices down, Paypal fees would be one thing to avoid.

    And yes, it is his call.



    Quote Originally Posted by TDegenhart View Post
    #1 doesn't like paypal just like some don't take credit cards. Maybe he had a bad experience. Maybe the charges are too high. His call not yours.

    Tom

  8. #26
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    PS:

    If you are buying anything on the internet, I urge you to pay with a credit card. Credit card companies are required to have a lot of consumer protection and I have had charges that were over a year old completely reversed after I documented the transaction and the steps I took to the credit card company. I doubt that Paypal would do that if you had financed the purchase with your bank account.

    Now, Paypal does have the option of using a credit card for the source of funds in any purchase. They try to hide that option, but it is there. I use it all the time, even if I have a Paypal balance large enough to pay for the purchase. But I try to keep my Paypal balance as low as possible. At present mine is $0.00. By using the credit card option with Paypal, you get all that additional protection by a company that is better regulated than Paypal.

    But I said credit card, not a debit card. Paying with a debit card is like writing a check or withdrawing the cash from your bank account and paying with that. There is a lot less protection if the deal goes bad.

    And credit cards pay points. I get back at least $500 every year in CASH from my credit cards. And I pay the full statement balances every month so there is never any interest or fees. And my credit ratings are always excellent.

    Credit card = win, Win, WIN!

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  10. #27
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    "I sold an air compressor to the mayor of a local town. 65 year old man in high heels with double D tits wearing makeup and a beard. "

    My goodness. At that age I hope he was sure to use plenty of support for those DD's.

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  12. #28
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    "By law a business must accept US currency "

    Err, not anymore. They may want you to pay them in plastic dollars, and not plastic rubles, but no, they don't have to take cash.

    The Fed - Is it legal for a business in the United States to refuse cash as a form of payment?

  13. #29
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    Quote Originally Posted by Rudd View Post
    "By law a business must accept US currency "

    Err, not anymore. They may want you to pay them in plastic dollars, and not plastic rubles, but no, they don't have to take cash.

    The Fed - Is it legal for a business in the United States to refuse cash as a form of payment?
    But.. I have heard that if there is no sign outside saying they do not take bills larger then... When they refuse payment in legal currency you can walk away without paying for your meal. I have no idea if this allows you to take merchandise with you. I just understood it applied to food that you already ate.
    Bil lD.

  14. #30
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    Quote Originally Posted by edwin dirnbeck View Post
    Come on now,the wife just assumes that boat owner even has paypal and just HAPPENS to know his email id and just nonchalantly sends him $26000. This sounds like a bar story
    Believe what you like... But this happened about 6 weeks ago, and the beauty of the truth is it doesn't care what you believe.

  15. #31
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    the last time i did see a real cheque was some 40 odd years ago.
    it was in a textbook on trade law.......
    if i were to buy that boat i would ask the banknumber of the vendor, take out my phone, open the app and nost of the time within a minute or two the vendor can check his bank account app and the money will be there.
    no risk, no delay.
    i cannot understand why the USA does not have a system like all of Europe does have.
    it does make payments so much easier.

  16. #32
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    Quote Originally Posted by janvanruth View Post
    the last time i did see a real cheque was some 40 odd years ago.
    it was in a textbook on trade law.......
    if i were to buy that boat i would ask the banknumber of the vendor, take out my phone, open the app and nost of the time within a minute or two the vendor can check his bank account app and the money will be there.
    no risk, no delay.
    i cannot understand why the USA does not have a system like all of Europe does have.
    it does make payments so much easier.
    Yes...it's soooo much better where you come from.

    You and Gordo share a room ?

    Or a head ?

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  18. #33
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    Quote Originally Posted by Garwood View Post
    65 year old man in high heels with double D tits wearing makeup and a beard.
    lol WTF?

    Was his name Richard Speck? (kidding)

  19. #34
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    Piss on PayPal! Back in the late 90's and early 2k's when the sport bike craze was big I decided to start making frame sliders at night and sell them on Ebay. It took off overnight so much as we had to start running some on day shift. Then one day PayPal sends and email saying they were going to hold funds until I could produce an invoice for the items I was selling on E-bay. Try explaining to some overseas call center agent that has basic English at best that YOU are the manufacturer so there can be no invoice. They canceled my account stating it was high risk and the decision could not be appealed. Try selling on Ebay without a Paypal account.

  20. #35
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    Quote Originally Posted by Mtndew View Post
    lol WTF?

    Was his name Richard Speck? (kidding)
    Stu Rasmussen - Wikipedia

  21. #36
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    Quote Originally Posted by g-coder05 View Post
    Piss on PayPal! Back in the late 90's and early 2k's when the sport bike craze was big I decided to start making frame sliders at night and sell them on Ebay. It took off overnight so much as we had to start running some on day shift. Then one day PayPal sends and email saying they were going to hold funds until I could produce an invoice for the items I was selling on E-bay. Try explaining to some overseas call center agent that has basic English at best that YOU are the manufacturer so there can be no invoice. They canceled my account stating it was high risk and the decision could not be appealed. Try selling on Ebay without a Paypal account.
    They did exactly the same shit to me several times. I would scan material receipts and certs I even sent them my power bill and copies of my lease. I bet I sent them the same shit 10 times in the 5 years I moved alot of money through Paypal.

    The last 2 years I was with them (after their split with ebay) they really fucked with my cashflow. I tried a few different things, but eventually went with Stripe and they are great. No bullshit, no bias. Just do what they do and I'm happy.

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  23. #37
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    My brother used to accept Paypal for websites he developed for businesses. After having a couple of cheap customers put in a refund request because "goods not as advertised" and having Paypal empty his account with no recourse, he stopped maintaining a balance and refuses to use it for any large transaction. Of course, the idiots forgot that he had full access to said websites and shut them down immediately, but it still cost him a lot of time. One idiot tried to sue him over a website that he took down for nonpayment, I think the judge forced her to pay the full amount, double his hourly rate for all the time he spend fighting with her, and all the court costs. I've been burned by them over stupid BS before as well, I refuse to use them for any amount I'm not prepared to lose. They really are a good example of "predatory business practices".

  24. #38
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    Quote Originally Posted by digger doug View Post
    Yes...it's soooo much better where you come from.

    You and Gordo share a room ?

    Or a head ?
    Probably just a 21C banking system, just like we have here in Australia as well.

    Not *our* fault that your system is so decrepit and untrustworthy that it either can't do those fast transfers, or the users (that'd be you) trust it so little that you wouldn't give your bank deposit number out regardless.

    PDW

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  26. #39
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    Interesting. I did not know that.

    I am going to carry a $1000 bill and see how many free meals I can get.



    Quote Originally Posted by Rudd View Post
    "By law a business must accept US currency "

    Err, not anymore. They may want you to pay them in plastic dollars, and not plastic rubles, but no, they don't have to take cash.

    The Fed - Is it legal for a business in the United States to refuse cash as a form of payment?

  27. #40
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    I've been using Paypal pretty much since it's inception and have never had an issue.
    BUT
    I've never used it for selling though. Just money transfers or buying.

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