Shipping Overseas

If that were true then the whole system of wiring money would break down.

just an update..

I spoke with my bank (Wachovia) and they told me that giving out your bank info to anyone unknown is NOT a good idea. He said that between account #'s and routing numbers it CAN and HAS been used against people.

Just thought I would pass this along

Bingo!!!!

:-)

OK. What happens when you have only $5 in the account and PayPal tries to take the money back? There's got to be some sort of penalty. This just opens up more issues for the honest. So basically wire and personal check are best. Ship AFTER funds clear.

right?

Jtwrace,

In response to your question: "Why a separate bank account?"

Because you can withdraw the funds immediately upon payment. (I do this with wire transfers too.) The better question might be: "Why withdraw the funds immediately upon payment?"

The answer is: Because Paypal will, and does, take back the money if there is a problem reported by the buyer. (No matter what you as the buyer says.)

Paypal is setup first and foremost to protect the buyers, and not the sellers. (They make the wrong assumption that the buyer is always right and legit, and that the sellers are merely capitalist pigs out to screw the buyers.) The proletariat must be protected from you bourgeoisie types of capitalistic, profit minded, pigs, as both Karl Marx and our president believe. ;-)

I suggest you check out this link and read through all the problems that using Paypal as a seller can get you into.

AudioAsylum Search for "Paypal" in Shady Lane

This is not to say that Paypal is completely corrupt, they are not. In fact, I like to use Paypal when buying things, specifically because they make me the buyer their number one priority in protecting. (But I don't accept paypal as a seller, for the same reason.) As a seller I stand behind what I sell, (and I have ponied up money for items damaged in transit). But I don't want Paypal acting as a stooge for some scam artist trying to steal my equipment, (and hence my hard earned money).

With a separate account, paypal can only seize funds from that account, not the account you use to pay your mortgage, electricity, water, etc. I use this account strictly for paypal and my standing balance stays under $5.00.

I'm just playing it safe. There is a ton of info available to ascertain if paypal is a viable option for you. If you google variants of paypal, you can find enough info to read for days. Lots of people use paypal & really like it, others are diametrically opposed to it. Sorta like the old Ford/Chevy debates.

Also, there is the fee thing that gets a lot of folks up in arms. I don't charge a fee for paypal if someone pays me with an echeck, which is funded from a bank account instead of a credit card, as it's a $5.00 fee as compared to the 3% or 4% or whatever the credit card fee is. There has been some heated debates about that issue before.

why a seperate bank account?

I second Driver's comments, make sure you have a seperate bank account only for Paypal.

Cheers,
John

Paypal is ok if you use some guidelines. I have a completely separate account at another bank and wait until I've withdrawn the money before I ship.

The invoice thing is about paying duties.

I've had several overseas deals & they all worked out fine.

You are better off being paid with a bank wire transfer, especially if your buyer is from overseas.
(I have done it that way, and it worked out fine.)

Lots of bad things can happen if you allow a buyer to pay via paypal. (I don't like accepting paypal payments, but especially so for overseas transactions.) And to be honest, I also don't like to buy from overseas sellers, (except for LPs, cables, or other things that are difficult to break in transit.)

(As an Example: Suppose you ship your piece of equipment overseas, and it is "allegely" damaged in transit. The buyer will claim it is was damaged in transit, and you are now on the hook for the unit. The seller gets their money back, and you have to pay to have the unit shipped back to you. (And you have to trust that the buyer will ship it back, now that they have their money back!) And the cost of shipping, both ways is now yours to bear. (Fun times, huh?!)

Good Luck!

PS Yes, I know I am being overly cautious and paranoid, (but when everyone is out to get you, and/or your money, is it really paranoia?) ;-)

Yes is a member with good feedback.

is the person that is overseas a member of this site and if so, feedback ?

While I am not saying something isnt right, maybe some more info to help clarify things a little more before jumping to conclusions.