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Paypal when selling privately?

JustLikeMe

JustLikeMe

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Does anyone have any experience taking payment via Paypal when selling privately as opposed to eBay? I'm wondering about the fees - Paypal states the following:

'It’s free to use PayPal to send or receive money between friends and family in the UK, as long as the payment is funded by a bank account, debit card or PayPal balance, and no currency conversion is involved.

If you fund the payment using a credit card, send money in a different currency or make an international transfer, we charge you, the sender, a small fee. A currency conversion fee may also apply.'

Am I therefore correct in thinking that if the buyer wishes to fund the purchase with some money from a bank account and the rest on card that no fees are payable on the bank account and only the buyer pays fees on the card payment, or am I missing something here? I'd really appreciate any advice from somone who has sold a machine or other item privately in the past as I've only ever received cash/cheque/bank transfer in the past.

Many thanks,

Guy
 
I don't know but I would be more worried about chargebacks if I didn't know the buyer.
 
I don't think there is any protection via sending the money as a friend so would not expect any chargeback either.
Personally, by this point I would do a bank transfer so there are no fees but that won't work if you need to use a credit card.
 
If they pay by paypal gift there are no fees to either party (unless they load via a credit card etc)

Basically paypal gift payments have no protection for either party, hence no fee and no liability on paypal.

If they load money onto paypal from a credit card they get charged a rate. if you accept a payment via paypal (ie not gift) you get charged a percentage for recieving it (Usually 3.4% + 20p for loading and recieving)

https://www.paypal.com/uk/webapps/mpp/paypal-fees
 
Thanks all for the replies, much appreciated. Am I correct therefore in summarising as follows:

Given that I am the seller, and the money is being sent as a gift via two separate transactions, one from a bank account and one from a credit card, as a seller I will pay no fees, and the buyer will pay fees only on the amount funded via credit card. Additionally, as it is a gift transaction and not a purchase, the buyer will not be able to retroactively chargeback the transaction.

Apologies if I sound simple, I just want to fully understand the situation before going ahead.
 
Last edited:
Yes that is my understanding.

Buyer: No fee on gift payment from linked bank account
Buyer: 3.4%+20p on monies transferred from buyers credit card

Seller: recieves 2 x paypal gifts with no fees to pay...
 
BigIan said:
if you accept a payment via paypal (ie not gift) you get charged a percentage for recieving it (Usually 3.4% + 20p for loading and recieving)
Click to expand...

When I'm buying using Paypal, from someone I've not met before who lives miles away (even someone from the forum) I'd always be inclined to send the funds not as a gift to a friend, so I was insured, but would offer to pay the seller's 3-4% Paypal fees for receiving the money.
 
"...the money is being sent as a gift via two separate transactions, one from a bank account and one from a credit card"

I'm not a big user of PayPal, but any credit card payment can be subject to chargeback from the card issuer end. Is the payment via the CC perchance substantially larger than the one from the bank account?
 
Not if its just a withdrawal, which if they are loading it into paypal is basically what they are doing, no ?

No more risky for the sellar recieving a gift payment, more risky for the buyer sending a gift payment...

I guess i would keep a reciept from the courier as proof of sending just in case.....
 
Thanks all for the advise - the machine will be transported by Martin, so I'm sure he'll be able to provide a receipt of some nature. If anyone has anything to add that hasn't been mentioned please do.
 
Iron Man from the original run - will likely be selling my VE later this year too unless I move to a bigger place before Lebowski arrives!
 
Nice machine :thumbs: As you have got/had both machines is there much difference between the original and the VE, playing wise, rules, finish, etc?

There appeared to be a lot of hype over the VE release but nobody has really posted much about it, unless I missed it :oops:
 
Remember PayPal will only accept a trackable online courier as proof of delivery. Nothing else. If someone you don't know wants to collect or you are delivering or using a non trackable courier accept PayPal gift only. When you use a credit card through PayPal gift it counts as a cash withdrawl so charge back should be impossible.
 
My only advice on paypal is this, if you are selling something that is being collected by the buyer (pinball part for instance), BEWARE, there have been cases of the buyer paying via paypal, collecting and then stating Item not received, you have no tracking number to confirm delivery, paypal sides with the buyer, buyer walks away with item and refund, rare but does happen.

As described above by Steve Brum
 
.... another thing. If you're sending as a gift but make any comments about purchase of item within the transaction, Paypal may pick up on it and hold the payment. I once sent about a grand across and both the seller and I were contacted on telephone asking why gift payment was made if purchasing something.... that was a surprise !

Paypal gift only with someone you know well if you ask me.
 
Thanks all for the input - I was enquiring on behalf of my dad, but he's read some horror stories re charge backs himself and has decided he isn't comfortable with the idea. It's a shame but it does seem that PayPal isn't seller friendly.

Steve C said:
Nice machine :thumbs: As you have got/had both machines is there much difference between the original and the VE, playing wise, rules, finish, etc?

There appeared to be a lot of hype over the VE release but nobody has really posted much about it, unless I missed it :oops:
Click to expand...

There aren't too many differences between the two to be honest - the real advantages of the VE are the newer style Stern speaker / DMD panel which means that the DMD doesn't reflect off the playfield glass, the reflective foil decals which do look great, and the software has been modified slightly to allow for better LED control. Apart from that they're almost identical - no differences in the rules, and the gameplay feels very similar. My VE does play faster, but I'm sure thats simply due to having owned it since new. Personally I really like the cool led white lighting as opposed to the warmer incandescents on the original run, but that's subjective. Both are great machines but I do prefer the VE by some margin.
 
NEVER accept PayPal payment for a pin imo. Bank transfer is just as easy and you can't be screwed by it. PayPal will always side with the buyer in a dispute
 
You can still be screwed by paypal if the customers paypal account is linked to their debit card. All they have to do is claim fraud and they get proceedings to follow that can ultimately lead to them getting their money back.
 
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