WatchUSeek Watch Forums banner

1 - 13 of 13 Posts

·
Registered
Joined
·
428 Posts
Discussion Starter · #1 ·
Hi, i know that paying by using the paypal gift option is not recommended when buying because the risk is great you will get a lemon watch or a brick if it is a bad seller. Today while discussing a possible private watch purchase the seller wants me to pay by paypal e-check. I have never heard of it so i would be grateful if someone could explain it in detail and if it is a recommended payment option.

I have no idea why we can't use regular paypal and registered mail with signature since it will protect both the buyer and the seller so please give me a warning if paypal e-check could result in me getting scammed.
 

·
Registered
Joined
·
722 Posts

·
Registered
Joined
·
168 Posts
Hi, i know that paying by using the paypal gift option is not recommended when buying because the risk is great you will get a lemon watch or a brick if it is a bad seller. Today while discussing a possible private watch purchase the seller wants me to pay by paypal e-check. I have never heard of it so i would be grateful if someone could explain it in detail and if it is a recommended payment option.

I have no idea why we can't use regular paypal and registered mail with signature since it will protect both the buyer and the seller so please give me a warning if paypal e-check could result in me getting scammed.
If you don't like the method of payment, walk away. Just tell the seller, you would really rather pay standard paypal and offer to split the fee's. If you have any doubts at all....I'd walk away.
 

·
Registered
Joined
·
2,932 Posts
I almost went this route in a face to face transaction but eventually just went to a bank because the receiver had to let the funds cool off for a few days before getting the funds.
 

·
Registered
Joined
·
1,877 Posts
i might be wrong and im sure someone will correct me if i am ,but i was under the impression that paypal protection terms only apply to transactions on e-bay, not private deals.
 

·
Registered
Joined
·
8,409 Posts
i might be wrong and im sure someone will correct me if i am ,but i was under the impression that paypal protection terms only apply to transactions on e-bay, not private deals.
Correct.

13.3 Ineligible Items. PayPal Purchase Protection only applies to PayPal payments for certain tangible, physical goods. Payments for the following are not eligible for reimbursement under PayPal Purchase Protection:

Intangible items, including Digital Goods
Services
Real estate, including residential property
Businesses
Vehicles, including motor vehicles, motorcycles, caravans, aircraft and boats
Custom made items
Travel tickets, including airline flight tickets
Items prohibited by the PayPal Acceptable Use Policy
Items which you collect in person, or arrange to be collected on your behalf, including at the retail point of sale
Items that violate eBay’s Prohibited or Restricted Items Policy
Industrial machinery used in manufacturing
Items equivalent to cash, including prepaid or gift cards
PayPal Direct Payments
Virtual Terminal Payments
Personal Payments
 

·
Registered
Joined
·
1,817 Posts
This moves money from your checking account, and all the money must be there when you do the transfer. I believe in order to avoid the payment you also need to classify the transaction as a gift. I did this twice over the WUS forum (buyer and seller) and it went fine. But I wasn't looking to screw anyone or break the law; I guess it goes back to buy the seller.
 

·
Registered
Joined
·
4,440 Posts
I'd recommend only using Paypal with a credit card. No gift payments, no e-check. Also, gift payments are against WUS Sales Corner rules, so you cannot use them here anyway. Plus, you have no recourse if something bad actually does happen. My advice: fund payments with a credit card or don't buy the product at all.
 

·
Registered
Joined
·
2,586 Posts
Less fees involved for the seller. Payment method is legitimate. Google is your friend.

The eCheck's in the E-Mail - For Dummies
I have only been a buyer on eBay and couldn't understand why many sellers ask over the value of a watch on "Buy It Now". This explains why. If for example a watch is listed as buy it now for $3,000 the seller needs to pay a fee of 2.9% which would be $65.7 on this transaction. And it looks like if a buyer agrees to "Buy It Now" and then backs out after punching in "pay now", well, the seller is stuck with the fee of 2.9%.
 

·
Registered
Joined
·
640 Posts
I have only been a buyer on eBay and couldn't understand why many sellers ask over the value of a watch on "Buy It Now". This explains why. If for example a watch is listed as buy it now for $3,000 the seller needs to pay a fee of 2.9% which would be $65.7 on this transaction. And it looks like if a buyer agrees to "Buy It Now" and then backs out after punching in "pay now", well, the seller is stuck with the fee of 2.9%.
Actually, the fees ebay/paypal charges for such a transaction are much higher, but fully refunded if the 'buyer backs out" as you say.

For a $3,000 ebay buy it now auction, paid with paypal:

Paypal fee: 2.9% +$.30 = $87.30 (3.9% for non u.s. payments, and some merchants have lower rates if they have high volume)

ebay Final Value Fee: 12% of first $50, 6% of amount > $50 up to $1000, 2% above $1000 = $103

So, that's $190.30 total, over 6% paid in fees for $3000.
Also note both fees are also charged for buy it now amount plus any shipping amount
 
  • Like
Reactions: billiybop

·
Registered
Joined
·
428 Posts
Discussion Starter · #12 ·
Good info gt0279a :-!, as a buyer i had no idea there were so many and so high fees involved when using ebay/paypal. E-Check is not for me since i do not use paypal in that way, i do have a virtual cc (e-card) tied to my paypal account but it is limited to the amount paypal pulled when i got verified. When i buy something i just transfer the amount needed for that payment to paypal, wait the 2-3 business days for the money to get to paypal and then pay.
 

·
Registered
Joined
·
1,877 Posts
i know its not relevent to the original post but i thought this might be of interest. i just payed a "quite" considerable sum for a watch with paypal (credit card) . less than five minutes after pressing the confirm payment button i got a call on my mobile from my bank checking that it was me making the payment. i found this quite reassuring, especially on a sunday afternoon.
 
1 - 13 of 13 Posts
Top