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Do you require PayPal payments

P

Palmetto1155

Knifemaker / Craftsman / Service Provider
Joined
Feb 28, 2013
Messages
183
Ive been away working and havent spent much time on BF the last couple years. Recently though, I have been looking to buy a few things, but it seems everyonnes' listing I look at lists PayPal as their only type of payment they will accept is PayPal. I do not, and will not, use PayPal for anything. So, basically Im asking here, if you have something to sell, and you list only PayPal, should I just move on without asking for alternate payment options?
 
I doubt there's a universal answer to that question. Some sellers might work with you on an alternate payment option; others will not. As with most things sale-related, it doesn't hurt to ask the seller.
 
Dadpool said:
I doubt there's a universal answer to that question. Some sellers might work with you on an alternate payment option; others will not. As with most things sale-related, it doesn't hurt to ask the seller.
Click to expand...
Thanks, ill just start asking. When it comes to buying knives, im in no hurry to get them, so im more than willing to wait until any payments i send clear.
 
The PayPal issue is technically law. I won’t judge what people choose to do, but I still use g&s. I guess the question is, “how bad do you want the knife?”

If someone was selling a Koenig Arius for $450, would you turn up your nose and walk away?

The market will decide. I’m not jumping around trying to figure out how to keep the tax man at bay. I’m biting the bullet, others will too. I still see value in the g&s protections… knife related or not.
 
Due to the change in the law regarding the reporting of gross "business" transactions over $600 by eBay, PayPal and other websites, the trend on the Exchange is currently is to request some form of direct cash payment. Not just via PayPal F&F but also via Zelle, Venmo, ApplePay, etc.

Other than utility bills, I really do NOT like making direct purchase payments from my bank account. I don't even use a debit card, which offers fewer consumer protections than a credit card does.

As a buyer, I always prefer PayPal G&S because I can use my credit card to make the purchase and there are certain consumer safeguards in place in case the transaction goes sideways. Not just thru PayPal but also thru my credit card company.

Actually, if there's an issue, I usually don't even bother filing a claim w/PayPal or eBay but will file the claim directly with my credit card company, which is usually Amex which I have found is very "consumer friendly" when it comes to disputing charges.

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I have made the choice to REFUSE to buy any knife where the seller requires a cash payment, unless I have dealt w/the seller before or if the seller is a member in long standing w/BF and has a "significant" positive trade history w/o any negative feedback.

I've noticed a few "older" members now requesting a direct cash payment BUT my impression is that MOST of the people asking for this form of payment are newer members who joined recently and/or have very little trade history.

-------------------------------------

As a seller, I also always prefer to use PayPal G&S, even though it costs me $, because it provides me w/discounted postal rates and allows me to conveniently print shipping labels from their website.

I am not in the "business" of buying/selling knives and do not have a resale license but I keep a receipt of every knife that I buy/sell and I don't sell so many knives that it would be a problem for me to prepare a Schedule C to "reconcile my sale transactions w/a Form 1099 that PayPal or eBay sends me.

-------------------------------------

That said, I read somewhere that the change in the reporting requirement EXCLUDES the sale of "personal" items. I haven't read the new legislation or the IRS's regulations arising from that legislation yet but, if that's the case, it may be possible to file for a "personal exemption" from receiving a 1099.

The change in the reporting law is too new to say whether this will be possible or not but I will be looking into it by the end of the year.
 
I still use PP G&S as my default, but recently accepted a personal check from someone I trusted, and would also consider money orders. The new tax laws muddy the waters, but eventually equilibrium will be reached.
 
I will default to PayPal G&S, accept USPS money order, or personal check from longtime members or people I've dealt with previously with good feedback.

Using any third-party payment processor, i.e. Zelle, Venmo, etc. will probably still ping you for a 1099. The tax law change applied to all payment processors, not just PayPal. It does not apply to noncommercial payments to friends and families, but it's against TOS to request PayPal F&F to sell items.

That being said, PayPal F&F is almost de rigeur in a lot of places for buying and selling knives. I abide by PayPal's rules and always list PayPal G&S, but if someone pays me by F&F, I didn't request it and won't get bent out of shape about it.
 
Palmetto1155 said:
Ive been away working and havent spent much time on BF the last couple years. Recently though, I have been looking to buy a few things, but it seems everyonnes' listing I look at lists PayPal as their only type of payment they will accept is PayPal. I do not, and will not, use PayPal for anything. So, basically Im asking here, if you have something to sell, and you list only PayPal, should I just move on without asking for alternate payment options?
Click to expand...

1) there is no cookie-cutter answer to this, all sellers are different, and the number of sellers on the Exchange increases steadily
2) you can always ask
3) Just now, things are changing due to Tax laws, more people using Venmo instead of PP, etc.
 
madcap_magician said:
Using any third-party payment processor, i.e. Zelle, Venmo, etc. will probably still ping you for a 1099. The tax law change applied to all payment processors, not just PayPal. It does not apply to noncommercial payments to friends and families, but it's against TOS to request PayPal F&F to sell items.
Click to expand...

Now I wonder 🤔....will Venmo accept $600 in loot AND Paypal take an additional $600 before you get 1099k'ed --- or will it be a TOTAL of $600 between the two of them? < since they're owned by the same consortium >
 
sgt1372 said:
Due to the change in the law regarding the reporting of gross "business" transactions over $600 by eBay, PayPal and other websites, the trend on the Exchange is currently is to request some form of direct cash payment. Not just via PayPal F&F but also via Zelle, Venmo, ApplePay, etc.

Other than utility bills, I really do NOT like making direct purchase payments from my bank account. I don't even use a debit card, which offers fewer consumer protections than a credit card does.

As a buyer, I always prefer PayPal G&S because I can use my credit card to make the purchase and there are certain consumer safeguards in place in case the transaction goes sideways. Not just thru PayPal but also thru my credit card company.

Actually, if there's an issue, I usually don't even bother filing a claim w/PayPal or eBay but will file the claim directly with my credit card company, which is usually Amex which I have found is very "consumer friendly" when it comes to disputing charges.

-------------------------------------

I have made the choice to REFUSE to buy any knife where the seller requires a cash payment, unless I have dealt w/the seller before or if the seller is a member in long standing w/BF and has a "significant" positive trade history w/o any negative feedback.

I've noticed a few "older" members now requesting a direct cash payment BUT my impression is that MOST of the people asking for this form of payment are newer members who joined recently and/or have very little trade history.

-------------------------------------

As a seller, I also always prefer to use PayPal G&S, even though it costs me $, because it provides me w/discounted postal rates and allows me to conveniently print shipping labels from their website.

I am not in the "business" of buying/selling knives and do not have a resale license but I keep a receipt of every knife that I buy/sell and I don't sell so many knives that it would be a problem for me to prepare a Schedule C to "reconcile my sale transactions w/a Form 1099 that PayPal or eBay sends me.

-------------------------------------

That said, I read somewhere that the change in the reporting requirement EXCLUDES the sale of "personal" items. I haven't read the new legislation or the IRS's regulations arising from that legislation yet but, if that's the case, it may be possible to file for a "personal exemption" from receiving a 1099.

The change in the reporting law is too new to say whether this will be possible or not but I will be looking into it by the end of the year.
Click to expand...
Thanks for a very detailed view on this. I suppose I will just ask when I find something of interest and if I can deal within the parameters of myself and the seller/buyer, then we will complete the transaction. If not, there will be no hard feelings on my end, thats for sure. Truth is, I dont "need" another knife, but I certainly "want" more :)
 
Maybe this is a good opportunity for a forum member with a career in corporate finance to set up “Pay4Blades.com”! (I just made that website up, you like it?)
 
I have been using USPS money orders for the last couple years, for both buying and selling. It is hit or miss, with buying being the easier of the 2. Unless the ad says, l will only take PP, it does not hurt to politely ask, but do not be suprised or upset if you are turned down, and do not say I will take it before asking.
 
Between the other flashlight forum and the BF, I now only do transactions via PP g&s, unless I know the member(s) well to trust them. I've been nipped once each using Venmo and PayPal f&f (both for buying stuff), but never using g&s (for both buying and selling).

There aren't many options out there that provides seller and buyer protection as well as PayPal. If the fees are of concern, I will add extra. If the seller says they don't deal with PayPal g&s, then I will see if I know the person well. Regardless, if the package is lost or stolen, nothing protects you better than PayPal g&s, given you follow the PP rules and guidelines. Just my perspective.
 
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