How to Use Paypal: Avoiding Fees and Scams
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Published on Mar 22, 2012
Tips for Selling on eBay: http://youtu.be/n9yFwtkm12I
Tips for Selling on Craigslist: http://youtu.be/LyzGFNwJITc
For more advice on how to make side income, visit http://www.gobankingrates.com
In our last video, we gave you some tips for selling on eBay and Casey mentioned that PayPal is one of the easiest and most popular ways to accept payment. However, conducting financial transactions online does pose a few risks, so I'm going to give you some tips for making your transactions go as smoothly as possible.
-Always free for buyers
-Usually free for money transfers, unless you're using a debit card instead of a bank account or transferring money internationally
-For sellers, there's a 30 cent fee plus 2.9% of the total transaction amount.
Sellers, keep fees in mind when pricing your item, so that you aren't taken aback by fees once you complete the sale.
Unfortunately, eBay no longer allows sellers to leave feedback for buyers. But you can still look at the general feedback for a potential buyer to get an idea of how reliable they'll be. If you do run into a problem selling on eBay, you can use the Seller Reporting Hub to report things like an unpaid item, feedback extortion, or any other issues you run into with a buyer. If you're not doing business on eBay, you can use communities and forums to find out if your buyer has a bad reputation.
Completing the Transaction
Don't keep your buyer waiting. If they have any questions for you, make sure you answer them promptly so the transaction isn't delayed. And as soon as you receive payment, put the item in the mail.
As a seller, it's also strongly recommended that you purchase either tracking or delivery confirmation so that you can be sure the package gets where you intended. Delivery Confirmation through the US Postal Service is only 85 cents, and if your package does get lost in the mail, you can avoid any discrepancies.
Protect Yourself and Avoid Scams
Make sure that the billing address matches the address that you're shipping to. If your buyer asks you to ship the item outside the country, beware. This is a common PayPal scam because the seller is only protected against a loss if they ship to the address that's on file for that buyer.
Watch out for this suspicious buyer behavior or requests:
-Wanting to rush a shipment at any cost
-Sending partial payments from multiple PayPal accounts
-Not making their payment in full
You can use PayPal to send and receive money for a variety of reasons, not just when using eBay.
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