Paypal - Is it really economical to use Paypal? Is your money always safe with Paypal?Since I was 13 years old, I helped my father out with his ebay business. I have now started my own. My father, having had a relatively successful business often used Paypal and 95% of the time did not have any trouble whatsoever, but what about the other 5% of the time? In addition, I wish to discuss the possible economical disadvantages that occur with the use of Paypal -- are we actually getting a good deal here or is a subsidary of Ebay reducing our profit margins furthermore?
Problems that arise with the use of PaypalAs mentioned above, for years I have been using Paypal and have been abiding by their various policies. Some of which I think make the seller prone to fraud. Most of the time you will come across a good, honest buyer but there will be times when you come into contact with the exact opposite.
Lets say that I was selling a book and it got sold for £15. I sent the package by Royal Mail 2nd Class and the buyer recieved it and then left positive feedback and I proceeded to do the same. Ok, at this point you think that everything is fine, you have completed a transaction, recieved and left good feedback.....nothing can possibly go wrong? In fact, be under no illusion, at this point you are still at risk of fraud because if the buyer then decides he would like his money back, he/she will file an 'Unrecieved Item Dispute' on Paypal. This will require you, the seller, to provide evidence that the item was sent. This then requires the seller to provide a vaild TRACKING NUMBER (from a signed for package) to prove the item was sent. Unfortunate for me then..... because I have just sent a book but do not have a tracking number because I sent it by normal delivery thus the buyer recieves their money back and also has your product!
Is Paypal worth it?
This question can be debated over for ages. But I am going to summarise my feelings towards the use of Paypal as a means of recieving money. I use Paypal for all of my transactions on ebay, whether I am buying or selling. Buying with paypal is brilliant because there are absolutely no charges. Unfortunately selling incurs various charges that can mount up if you are a fast seller. Reducing your profit margins, after they have already been reduced by Ebay listing fee and Ebay End of item fee.
I suggest in summary that when possible you should try and accept money with a Personal Cheque, this method is still safe for the buyer and is economical for the seller especially with high priced items such as jewellery.I really hope that this review helped and remember that these views are just my opinions and are not representative of the views of everyone.
Happy to Help.