PayPal for knife transactions - good/bad?

Geode

Geode

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I am exploring the use of PayPal as a means of money transfer for buying/selling knives.

A buyer just let me know that he would only use PayPal for his protection. I sort of understand - maybe someone can eloborate on this point for me.

What about the seller's protection?

Thanks and Happy Easter
 
Maybe he means that with paypal he is sure to get the money before he sends the knife. Most Paypal transactions are instant. I use paypal a lot and have never had any problems. I upgraded to a premier account. The benefits are that I can take credit card payments and I have a debit card to my account, so I can get my cash or just spend it from there. The downside is they hit me for 3% on ALL the money that I get as payments. That's why most people (sometimes me too) will say to add 3% if using paypal. I hope that helps.
 
generally, there isn't much seller's protection
you might want to search on the web for paypal stories of sellers who've had their accts locked down and their money taken simply because someone paid them with a fraudulent credit card
 
Good b/c it's fast.

Bad because it doesn't protect payer. Paypal is a pain when it comes to disputed charge.
 
You guys are making me feel like good old fashioned money orders and dealing with folks who have positive comments on the GB&U are the way to go.

It looks like Paypal makes things happen faster than they might ordinarily, but that the down side is the risk to buyer and seller may not be reduced at all, while Paypal collects a transaction fee.
 
I do send only old fashioned MO and credit card if i'm buying something from an online store.
I've heard enough PayPal stories to prevent me from using paypal.
 
I've done well over 100 transactions with paypal so far without a hitch. I've never had a problem. Sure there are a lot of horror stories out there about it, but there are horror stories about any company that large.
 
I use paypal all the time no problems so far it is fast for sending money. there fees seem pretty good.Money orders for me are to expensive to cash or bank.
 
At first Paypal is a bit nervewracking....will they ship? am I giving my money away?........ if you check you can usually find info on forum members. I'ts a bit of a generalization,but knife people seem to be very stand up. Paypal just makes transactions fast and easy.
 
I have been bitten my PayPal on more than one occaision. My advise is, to make a payment, it's good. To accept payments, make sure they have a confirmed address or else you may get screwed!! :(
 
I use PayPal alot. No problems. Make sure the buyer has a confirmed address by PayPal. If you ship to a uncomfimred address and the buyer claims to have not received the item, Paypal can reverse the money. From a buyers stand point,,PayPal is good because it allows you to use Plastic which gives you some added leverage if you need to dispute a charge. I like PayPal,,very convenient.
 
I buy all my knives with paypal, its more secure because i dont have to give anyone my credit card info. I usually buy knives off ebay now. and I only buy from people with like 700+ positive feedbacks
and like 99.5% positives, these people are not going to screw you over :) a few knife dealers on ebay have like 3000+ positives to their credit.
 
I've bought and sold alot using PayPal and have not had a single problem. It's a real time and money saver. No running to town to wait in line to buy a money order. The customers are happy because they can get their knife shippped out the same day and have it in their hot little hands within a week at the most.:D
 
PayPal recently changed its policies regarding firearms and related items. If that is of interest, check the PayPal website for further info.
Jim
 
I agree 100% with notdos. Paypal has worked well for me with nearly 100 transactions while I still have a dispute involving a postal money order.
 
I, like many others who previously posted, have had over a hundred transactions with PayPal without any problems. PayPal is great!

Stuart
 
I have been using paypal for years ... Have had no problems to date. For receiving money, the confirmed address shipping is critical.
 
Paypal has it's good points and bad.In my opinion it offers a way for regular people to accept someone to pay with a credit card and is fast.It does provide more protection to the buyer than the seller as some horror stories will convey that point.Unfortuntetly alot of scam artists are aware of this biased stance against the seller so they use it to rip people off and file false complaints with Paypal.My recommendation is to never set it up using your bank accounts.If someone would not pay me but only through Paypal I would consider that a red flag.Especially if claims about protection are mentioned when you are a member in Good standing for a couple years on a forum.Good Luck
 
I would like to add that trying to get your money out of paypal is a pain in the butt.When transfering they don`t tell you your bank has to accept internet banking.So you fill in all your bank forms transfer the money then you get mail saying your transfer is cancelled minus funds for this plus retransfer funds.International sellers get screwed:grumpy: .....................................
 
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