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How to transfer $500 websites? Paypal, ebay or directly into bank account?

Discussion in 'Site Flipping' started by yoyo33, Feb 1, 2013.

  1. yoyo33

    yoyo33 Regular Member

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    So, $500 is a large sum for paypal/ebay or bank account?
    Which one is safer?
     
  2. ScripterAlex

    ScripterAlex Registered Member

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    $500 isn't all that much in the grand scheme of the things...but remember PayPal payments can be reversed, bank wire not so much. You may want to use an escrow service to be fully protected.
     
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  3. cgimaster

    cgimaster Power Member

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    use escrow.com if that is not an option then go with wire transfer and only delivery once u confirm / have the payment. If you're the website buyer then escrow all the way.
     
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  4. yoyo33

    yoyo33 Regular Member

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    Wow! I didn't knew paypal can be reversed... I am the seller.
    I'm thinking: fiverr can't be reversed from what I know. Can I ask the buyer to buy 100 gigs x $5 ?
    Is this crazy?
     
  5. cgimaster

    cgimaster Power Member

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    Fiverr can be reversed as well as PayPal and they are very one sided and easy to do.

    UPDATE: The main problem is that you won't know if the client will use credit card or PayPal funds to pay you, if they use credit card they can do a charge back which forces PayPal to give it back (as in take it away from you since the client took from PayPal in the worst case depending on the situation PayPal will pay for it).

    So if you have digital goods claim that would still bypass it.
     
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    Last edited: Feb 1, 2013
  6. yoyo33

    yoyo33 Regular Member

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    Ok, I get it. Bank wire must be for my safety.
    But what I should tell the buyer? What about his safety?
     
  7. cgimaster

    cgimaster Power Member

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    That is why escrow.com is a good option or you could use elance.com (in case u use elance make sure he funds the project before u transfer the domain).

    They will both work the same way however you pay a fee for the transaction.
     
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  8. jakeparker

    jakeparker BANNED BANNED

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    $500 is not much at all. Especially if it becomes your average ticket amount for the transactions you are processing. The best one that I like to use is Escrow.com. It may cost more in fees and take a bit more time but it is well worth it.
     
  9. Furious George

    Furious George Supreme Member Premium Member

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    Too many things could go wrong with the transaction. (I'm not even talking about fraud risks)

    A paypal rep once told me they almost always review payments over 250 dollars.

    If he's serious, he'll send a check. Having him wire you money is much safer, and most people don't have a problem with that. I understand your concerns about him wondering if you're a scammer, but you need to be able to make sure your payments are secure.
     
  10. EmpireQuality

    EmpireQuality Elite Member

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    stay away from paypal for sure.
    that company is very hard on sellers now.
    its much too risky.
    bank account will be a much better option for you, but the buyer might be suspicious.
    see if they are ok with it.
     
  11. yoyo33

    yoyo33 Regular Member

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    Leaving behind my fears, asking for a check looks suspicious from the buyer point of view.
    I would never send a check to an unknow seller :)

    I guess nothing is 1000% secure. I checked escrow and they accept paypal :) So what does this means? They have three balls? I mean paypal is risky, but escrow where the buyer pays with paypal is 100% safe? Hmmm... I don't buy it.
    In my mind, escrow could be 1000% safe if they act like an insurance:They collect fees from 1000 transactions and if at some point transaction number 978 encounters a scammer, they have enough money to cover the losses for the victim.
     
  12. cgimaster

    cgimaster Power Member

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    well elance.com is PayPal aswell but they state that funded payments are guaranteed to be paid in other words if the client does something they will still pay you and probably hunt down the client.
    I never used escrow so I cant say how it works for them but you can surely read it on their TOS or USAGE or w/e

    UPDATE: and I have used elance for years and never had any problems.
     
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  13. geekygood

    geekygood Newbie

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    Dude use escrow ..escrow services are fully protected..I am selling my domain names via escrow..
     
  14. bluebios

    bluebios Newbie

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    try payoneer.They are best in these cases