Speaking of scams....

[RobinRTrueJoy]

Have you had any problems? Tell me your experiences please. I have buyers wanting to buy horses using paypal.

Thanks,

Robin

 

[friesepferd]

all paypal is, is a way to do a wire transfer for free. If they set up their bank account with paypal and you do too, the money will esentially just be wired from their account to yours. This does sometimes take a few days, depending on a few things.

I would say sure, go for it, but don't give them the horse until the money is completely transfered and is in your bank account.

I would say other than cash, this is probably one of the safest ways to go. With any transaction, especially something like a check, I would never give the person the item until I can confirm with my bank that the money is in the account.

 

[Becky]

Robin, I've sold several horses where the buyer has used PayPay to pay. I've never had any problem doing so (knock on wood!). I do ask that they pay the PayPal fee I'm charged.

 

[RobinRTrueJoy]

Thanks!

Can you tell me what percent is the paypal charge?

Thanks!

Robin

 

[Charlotte]

I can only make 5 'draws' from my PayPal account per year so I have to be careful about accepting payments that way.

And from past experience, I can tell you that they will do nothing to help you out in the event of a problem with the transaction. You are on your own.

We accept Pay Pal payemnts, but we are careful about how we use it.

Charlotte

 

[Becky]

Robin, I think the PayPal fee varies depending on the type of account you have set up. I *think* I'm charged around 3%.

 

[friesepferd]

you dont pay a fee if 1) the person sending the money has it hooked up to their bank account, instead of a credit/debit card

and 2) they select that it is a personal transfer, and not a purchase.

otherwise YOU, the seller, pays the fee. Which depends on the amount

Purchase payments received (monthly) Fee per transaction

$0.00 USD - $3,000.00 USD 2.9% + $0.30

USD$3,000.01 USD - $10,000.00 USD 2.5% + $0.30

USD$10,000.01 USD - $100,000.00 USD 2.2% + $0.30

USD> $100,000.00 USD 1.9% + $0.30 USD

So I would just make sure you tell the buyer they need to pay the fee, as there should be one.

Here is the exact info:

https://www.paypal.com/cgi-bin/webscr?cmd=_...ay-fees-outside

 

[Charley]

2) they select that it is a personal transfer, and not a purchase

I would not ask a buyer to put it as a personal transfer and not a purchase when they are indeed making a purchase. As a buyer that would make me look more closely at the ethics of the seller.

 

[WhiteTailsMinis]

I use paypal for paying for services (LB, tack and supplies, ads, sponsorships) but they are all minimal fees. I did not have to set up a bank account to do so.

I am not setup to receive via Paypal. At this time, I don't offer services or small items so all they'd be paying me for is horses. For those amounts, I prefer cashiers check, money order, or a bank wire. I feel safest with these methods. I absorb the first two bank wire fees - they (the buyer) are responsible for including the fee if they need more than the two wires to pay in full.

I have also accepted personal checks - the horse does not move until the funds are cleared.

I have BNF (oh I have waited so long to be able to use that term since I first saw it LOL LOL LOL) who accept my personal checks all the time. There's plenty of time for things to clear before the horses are shipped or picked up.

While I've never had a problem with Paypal personally - I am using them for less than 200 bucks each time so if I lost that money, I wouldn't be as hardshipped as say thousands of dollars.

I try to limit bank account or debit card info out there on the internet as much as possible.

I will shop via internet and then call their number and order by phone sometimes if it's a new vendor I've not used before.

Just my methods and feelings - others may do just fine - I'm still somewhat leary as the expertise of hackers out there has gotten pretty impressive. LOL

 

[GOTTACK]

PayPal is not a secure site- My account was hacked into and money taken out without my permission! It was taken care of but only after a lot of talking with my bank, PayPal and it took about 2 weeks to get my money back. Now I have removed it from my web site. I was told by PayPal to change my password OFTEN!

 

[REO]

Marlene, what is BNF?

I would only be afraid of charge back. That they get the horse quickly and then do a charge back and take their money back. I think it takes 5-7 (?) days to transfer the money from PP into your bank account? But if your PP account is also connected to your bank account, PP can go in there after the money if a buyer does a charge back. At least, this is how I understand it.

 

[WhiteTailsMinis]

Reo - LOL - there was a post few weeks ago that kept using that acronym ... I had never seen or heard of it before then. LOL

BNF .... "Big Name Farm" LOL

 

[Carolyn R]

I have had a paypal account for years, I had set it up to purchase items from ebay. Eventually I set it up so I could also accept funds too. I have accepted and sent small and very large amounts of funds. I have never had an issue.

The only thing I can add is that you may want to consider the fees, if you do not want to be responsable for the approx. 3% charge, then you need to state "payments accepted through paypal, 3% is added for using this service" . Paypal is a way to accept debit and credit cards when you may not be doing a high volume of bussiness. If you can't afford to have you own credit card set up through a company like telecheck to automatically clear credit cards/debit cards/and checks , then companies like paypal offer this.

Remember, these companies will never ask you to supply info in an email or to respond directly through an email, they ask you to directly log into the paypal site and enter your login info there, they will have any alerts listed upon logging in.

This is how many scammers get you, they send an official looking document and ask you to "click here" to resolve an issue, it then takes you to pages that ask you to supply info such as logging in on their mock set up and "updating" personnal info.

 

[Carolyn R]

Marlene, what is BNF?
I would only be afraid of charge back. That they get the horse quickly and then do a charge back and take their money back. I think it takes 5-7 (?) days to transfer the money from PP into your bank account? But if your PP account is also connected to your bank account, PP can go in there after the money if a buyer does a charge back. At least, this is how I understand it.

If someone pays with an electronic check, it takes a few days to clear, paypal list the payment as pending or cleared ( I never send goods until this type of payment clears), credit card/debit card payments will state "completed" immediately after they are sent (unless their are issues with the financial systems computer network, they it will not say completed, but is usually quickly resolved once their system is back on board) at this point the transaction is in cyberspace awaiting your command, you can either let it sit in cyberspace until you use it on goods or transfer it to your account or apply for a paypal debit type card which, once you have the card, you can instantly transfer the funds to the card account, then you can use it like a debit card until you deplete it.

The bank account transfers, when you request the completed payment be transferred to your bank account, will usually take 3-5 bussiness days, but I have had them complete the transaction into my account in as little as 36 hours (very quick around the holidays). When the amount clears your account the paypal transfer on your account overview page will state "transer request completed"

Now if there is an issue and you choose to refund all or part of the payment, you can do that also. An actual fraudulent compaint has to be made in order for paypal to repo/charge back any funds. They do investigate, in which case signed contracts and documented emails will be your defense.

Remember, any credit card company (even those that big bussinesses use) have the ability to do this (Ex. stolen card, counterfeit merchandise.....).

 

[HGFarm]

I have used Paypal for YEARS, both buying and selling.... the person on the other end NEVER sees your financial info, only that you have made a payment, or if the seller, that you have received a payment. The person sending you a payment ONLY gets your email addie that you use to send the payment. The seller sees there is a payment and who it is from, but doesnt get ANY credit card or bank info, so that is secure. Once you get it, you can move it to your own account, etc... as you like. I have never had a problem with using Paypal.

DO NOT fall for the scam emails that are sent out pretending to be from Paypal that say your account is being closed, etc...... like they do the banks, eBay and other things people use.... now THOSE are scams, LOL

Edited to note that they helped me too once when I got ripped off by a shipper and they sent me all my money back in about 24 hours!!!!

 

[REO]

I remember that now Marlene!

But maybe that's because we are RNC (Redneck Central)

 

[TyeeRanch]

Just have to add my Paypal experience in here as well. I have had it set up for things such as Ebay, etc and have never had a problem. I do however, occasionally breed dogs and have a rare breed therefore have pups that travel quite a ways. I had one family that was interested in a pup, and after careful consideration, I agreed to take a deposit for one out of my next litter. The deposit is a non-refundable deposit and is states as such on my contract. The family knew they would not be getting a pup til spring, but two months after sending the deposit through Paypal, decided they changed their minds. All they had to do was contact Paypal and tell them that I had not delivered what they paid for. Paypal issued them their money back without checking with me or caring that we had a signed contract. I will never do ANYTHING like this again through Paypal, its just not a secure way of doing things.

 

[REO]

That's what I was trying to say. They can do a charge back. Some people get what they paid for and still get their money back because they're crooks. You have to be careful.

And if you have an account where your PP account is connected to your bank account (premier PP account) then it doesn't matter if you sent the money to your bank account, they can still do a charge back and PP will take money from your bank account that it is attached to.

That is what I was trying to say. Just moving it doesn't make it safe if you have an account that is connected to your bank account. That is the way I understand it.

Just saying, be careful

 

[Annabellarose]

I maintain a separate bank account that I associate only with my PayPal account that I NEVER associate with my real bank account (the one that I use to pay bills with, buy groceries with, etc.). When an amount clears my PayPal (internet) account and then my PayPal bank account I withdraw the funds as cash and then deposited the cash in my real bank account. So many banks offer free checking accounts.

I have never paid for a horse with PayPal, but I think that it is wonderful when I see it available on a seller's website as a payment option.

 

[wildoak]

I sold a big horse last year that was paid for via PP. She sent me a deposit to hold the mare, then came down, rode her, and called her husband who did the paypal transfer on the spot while we were in the arena. As soon as my account showed the funds deposited she loaded her up and took her home. Made it very easy for both of us. I can see though, how a charge back could be a pain if paypal doesn't verify anything with you first.

I did have someone hack into mine several years ago and use it to buy something on ebay. Took some phone calls (hardest thing was finding an actual phone number for paypal!) but we did get it straightened out. It was for a relatively small amount, under $100 I think.

Jan