When is it okay to cancel a sale?

[Leon]

Originally Posted by jhs5120

I wish it was through my Credit Card company! I would've been on them like a freaking banshee! The buyer cancelled the transaction on his end with his credit card. He paid through PayPal (with his credit card) so PayPal immediately withdrew his funds from my account pending the "investigation".


Andy, signature confirmation would be a must, I agree. I'm just worried he would try something funny down the road. In terms of paper trail, one method I have done before was have a generic document stating the buyer has inspected the item and received it w/o issue. I have him sign it and then I take a picture of his drivers license next to the signature. Usually people don't have an issue.

And that is why I almost always transfer money over approximately $100 from my paypal account to my bank account.

[bn2cardz]

Originally Posted by Leon

And that is why I almost always transfer money over approximately $100 from my paypal account to my bank account.

Does this really protect you in the long run? Can paypal take the funds from you bank account? If not will they just take the money back via any future sales rendering the account useless to you to use? Or is this just a delay tactic to force paypal to resolve the issue?

[Leon]

Originally Posted by bn2cardz

Does this really protect you in the long run? Can paypal take the funds from you bank account? If not will they just take the money back via any future sales rendering the account useless to you to use? Or is this just a delay tactic to force paypal to resolve the issue?

On one sale it definitely will protect you as there is nothing in your Paypal account for Paypal to take.
I don't think Paypal can generally take money from your bank account BUT they can certainly garnish any monies in your Paypal account. So, if you want to continue using Paypal you will have to deal with them. But I don't leave much in there just in case...I would rather play on my terms than theirs.

[jhs5120]

Originally Posted by Leon

And that is why I almost always transfer money over approximately $100 from my paypal account to my bank account.

It wouldn't matter. I asked PayPal what would've happened if I didn't have enough funds to cover the $900 taken out of my account. They told me, $900 will still be removed from your account. If there is a negative balance, PayPal will provide a window to add funds to pay off the remainder. If the window passes they will freeze your account until it is paid. Any further delay would result in a collection agency.

Fun.