I'm seeking members' views on using PayPal F&F for a sale of c£3k to a member on here. I've no concerns with the buyer at all but I've always used BT for significant watch purchases/sales and I'm just wary of PayPal given the stories around accounts being frozen or the possibility of an account on here being hacked (rare I know).
I occasionally encounter fraud in my professional life so am aware that might be making me unduly cautious here, hence I'd appreciate other opinions and any experiences generally.
Thanks to those who responded to the original thread I'd created in WT when it should have been here...
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For a purchase at this level I would only use Bank Transfer, at least the transaction is identifiable and safe. It is a purchase, and not a transfer to family etc. Plus - I may be wrong - while Paypal F&F is charge-free for the receiver, do not think it is for the buyer.
Personally, I would go with a Bank Transfer for that kind of sum. I've paid a deposit by paypal F&F for something I agreed to buy recently from SC, but will be paying the balance in full via BT.
I might be wrong but a Bank transfer once it has left your account is gone and is not recoverable my Bank will ask are you sure that you want to proceed with this as to PP if you again send as FF it is also gone however if you send with a fee there is a dispute/ recovery route.
As far as i can see you pays your money and takes your chances.
I FEEL LIKE I'M DIAGONALLY PARKED IN A PARALLEL UNIVERSE
He is the seller, recovery routes perhaps less of a concern.
Personally speaking I’d prefer bank transfer as a seller, but F&F as a buyer. Unless it was a seller you knew and had no concerns, then bank transfer.
Thanks so far.
For the buyer, I can see the benefits of paying by credit card and collecting miles/points etc.
For the seller, I can only see an increased risk, albeit possibly minor, compared to BT.
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F&F is more reliable as there are time restraints on bank transfers. I did a face to face deal with a tz'er and tried to do a bank transfer (halifax) but because it was after 5pm and for a large amount it would not go though as it needed to be manually approved. F&F worked fine though.
I don't think F&F works with credit card - I think it has to be linked to bank account or debit cardOriginally Posted by deepreddave
Keep the money for a week before posting to make sure it clears and is in your account.
I did this last year on here for £11k but I trusted the seller and they trusted me.
You can link any card to your account with PP inc a credit card/s and it works with a F&F
I FEEL LIKE I'M DIAGONALLY PARKED IN A PARALLEL UNIVERSE
I have done 100s of transactions for various amounts from a few pounds up to a few thousand using paypal over the years without any problems but these days I tend to use BT more and more especially if the amount is over £500.
I did do a face to face for a few thousand a while ago and we had agreed BT but the buyer was unable to do the BT on his mobile, but we did the deal and he completed when he got home, one of the benefits dealing with a regular TZer :)
Using PayPal F&F is a way of evading fees, PayPal are unlikely to let a 3k transfer pass without asking questions.
Hi
I've paid using Paypal F&F this week a four figure sum with no issues....and a five figure sum last year too !
Best Neil
Thanks again for your input, food for thought!
I appreciate you are the seller, the only time I've been out of pocket is by 'buying' something over on The Watch Forum; the seller asked me to use PayPal family and friends. I did so as he was a 'long standing member'; I never received my goods and seller removed the thread, a total joke. But you live and learn, I'd never use family and friends again to pay for anything.
I have used both recently with face to face deals. PayPal was immediate, but the bank transfer took almost 2 hours to go through and was more problematic. I think if you trust the other person, either are equally good.
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F&F payment - you pay a fee to PP - if something goes wrong. You have no way to file a claim as your not buying anything.
Wire - once the money is sent. Thats it's. Something goes wrong. No way to get it back and most banks charge a wire fee.
CC - something goes wrong - file a chargeback
PP proper - seller pays the fee - something goes wrong - file a claim
Face - Face - do you know the seller? - some police stations will allow you to do transactions for a safe deal (if you call and ask) maybe
DON
Personally I don't notice much difference in PP F&F vs BT, so I happily accept or use either. PP G&S is of course much safer for the buyer, but on the flip side the seller is very vulnerable to false claims.
Nobody pays a fee on a PayPal F&F transaction.
Sender pays a fee on F&F.
Flat rate fee scale is listed here. https://www.paypal.com/ie/webapps/mpp/paypal-fees
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Not for transactions within the UK, which to be fair is sort of implied in the name of the forum.
Thanks again and it would be a UK transaction if it goes ahead.
Personally I think PayPal are complete cretins.
I sold various bits hiking gear on groups to people I vaguely know via F&F and the moment it went over £2k in a year I got a warning email, then the following week they cancelled my account with no explanation except that I had breached T&C's. I still haven't had the balance returned by them.
paypal is ok for small amounts and kids but for big stuff BT is the method
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