Protecting Yourself from eBay and PayPal
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To setup a PayPal sellers account and eBay sellers account you must have a credit or debit card (trust me on this one I’ve had 5 or 6 accounts in my time)
This means if a customer uses a stolen credit card or claims they did not receive their package, regardless if you have delivery confirmation, paypal will remove the funds from your account, leaving you without the item and payment.
If you do not have enough funds in your paypal account, paypal will deduct the payment from your checking account at will.
You MUST protect yourself from PayPal and eBay at all costs, here’s how:
1) Get a GreenDot credit card. The smallest amount is $30 with I think a $5 activation fee. YOU CAN USE THE $30 LATER – DON’T WORRY.
2) Once you have the GreenDot credit card use that card to setup your PayPal and eBay sellers account and let them verify the account using that card. Once they have verified the account use the remaining balance.
3) Get the PayPal debit card. Once your customer has paid you remove the funds at any ATM, leaving only enough to pay your eBay fees.
4) Setup more than one PayPal account this way using different GreenDot credit cards. This way once a customers pulls a scam, you can remove that PayPal account from your eBay account and you will have another ready and waiting.
5) Never give your Checking or Savings account number to PayPal or eBay.
6) Use one eBay/PayPal account for purchasing and 2 or more for selling.
7) Whenever possible, invoice your customers using PayPal, do not use eBay’s PayPal check out. If receive just 1 negative feedback, PayPal may with hold payment for up to 21 days. You are expected to send the item, however you may not receive the funds for almost a month.
eBay and PayPal are looking out for their best interest, shouldn’t YOU?