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How can the money I made on Paypal be safe ?

Discussion in 'Making Money' started by legin, Apr 30, 2017.

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  1. legin

    legin Newbie

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    So lately I have started selling a service online and I'm generating around $1000 sales every day. What happens if after a while the customers start raising claims and disputes. Will Paypal take the money back from the credit card ? What happens, and what route would you go to have the money safe ?
     
  2. pavan

    pavan Elite Member

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    if you are doing something illegitimate then paypal will definitely take it back and considering the amount you owe them they can even file a law suit and claim every penny that you stole from them. As far as customers are concerned they are somewhat safer, they will get the money back even if paypal is not able to recover it from you
     
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  3. Tozzy

    Tozzy Jr. VIP Jr. VIP

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    PayPal is a shit I was selling a service for like 2 months, there were couple disputes which I resolved, anyway after I made around 2k$ PP frozen my account for 180 days. I never kept funds on it so lost around $10 which is nothing but now time to create a new account.
    Just withdraw money this or that way and if they start to make fraud chargebacks (so you cannot resolve) drop that account and start new one. Be ready for this all the time, I was cause heard about PP being a bitch and thus lost less than a little.
    You never have control over PayPal and cannot know when they decide to shut your account down.
    P.S. Service I offered was legit and disputes were legit as well (when I failed to deliver the service).
     
  4. danixD

    danixD Senior Member

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    A workaround is to transfer you PayPal money on your connected bank account and from that bank account transfer to another one of yours. In this way even if paypal try to chargeback he won't get anything
     
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  5. Tozzy

    Tozzy Jr. VIP Jr. VIP

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    That was more or less what I was talking about.
    Though if he is doing something non-legit he probably should consider options like exchanging his PayPal for BTC or buying something easy to resell (like gift cards) because as was pointed out by @pavan if chargebacks are really massive PayPal can be after getting back money legally.
     
  6. Billy_Batts

    Billy_Batts Elite Member

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    Or, and this might be strange.. Handle your business! PP doesn't freeze your accounts out of the blue!
     
  7. legin

    legin Newbie

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    Thanks for the tips lads. I have around 6K in my account right now and they only let me withdraw 750EUR every day.. Any tips ?
     
  8. danixD

    danixD Senior Member

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    Actually they will, for any reason they want and if they freeze all your money for 180 days you can lose your bussiness
     
  9. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Get your bank acct verified and withdraw often. Never use PP as a bank. They're just a payment processor.
     
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  10. ambushiv11

    ambushiv11 Jr. VIP Jr. VIP

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    You simply can't. I've had a friend that lost over 3000 EUR overnight. Just use Payoneer or any other virtual bank instead.
     
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  11. Billy_Batts

    Billy_Batts Elite Member

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    The problem with this is you can't stay under the radar from taxes, at least, not for long in my country.

    And freezing your funds for 180 days, never heard that, only thing I heard is that they freeze your funds for 21 days over a period of 180 days when you just starting earning through e-commerce.
     
  12. legin

    legin Newbie

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    Shall I eliminate Paypal ? What other payment processing systems are there instead of Paypal.. One that people will not be scared to use and one that does not flip me over when they complain etc..
     
  13. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    180 day freezes are a reality.

    So are taxes. Just pay the taxes and move along. You'll live with taxes till you die. Only thing you can do is hire an accountant and throw in some expenses to ease the returns.

    You can try Bitcoin.
     
  14. Tozzy

    Tozzy Jr. VIP Jr. VIP

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    21 days is regular hold for new accounts to cover possible chargebacks. This is what all accounts get through (except few countries but it is very hard to maintain account in those countries for an obvious reason).
    180 days is when your account is suspended and yes it can happen out of the blue for no reason, just if PayPal thinks they don't want you.
    That simply doesn't exist especially if you offer a digital service. Everyone has PayPal, everyone used to it. It's got the highest coverage and is recognizable by most people. There are lots of seller-friendly processors but PP is the most buyer-friendly that's why it is so popular.
    I don't know exact numbers but I'd say less than 10% of users know what on earth those bitcoin-ditcoin are. Plus paying with BTC is risky for the buyer. You can pay with PayPal some one you don't know and trust cause (unless you don't fall for f&f trick) you can get your money back super-easy.
     
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  15. legin

    legin Newbie

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    Some people might use that but not the average joe
     
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  16. danixD

    danixD Senior Member

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    Unfortunately everybody use paypal
     
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  17. Tozzy

    Tozzy Jr. VIP Jr. VIP

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    Even on this forum and other tech/im-related forums few people use BTC.
     
  18. pressrelease

    pressrelease Power Member

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    always safe to withdraw money from paypal, dont leave in there.
     
  19. johnsim135

    johnsim135 Registered Member

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    The safest is when the money is at your hand.Everything is fake when the money are at other people hand except Bank.
     
  20. Billy_Batts

    Billy_Batts Elite Member

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    I know but making pennies ATM so not planning on it Yet, but next year I will earn big mula and then for sure I will register a business and take a tax adviser.
     
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