PayPal Risk

cybermonkey · 11-18-2007, 12:45 PM

Hi, everyone!

I need some advice on how do I protect myself using (PayPal) buying and selling domains. Is it important to have a verified (PayPal) for both seller and buyer? Can a buyer do a "Charge Back"? In which case would you recommend to use (Escrow) service?

Thank you,

webfreak · 11-18-2007, 01:27 PM

Unfortunately, you really cannot fully protect yourself using PayPal to complete domain transactions. Even with a verified buyer, there is a risk that you will lose the domain and the money.

I'd recommend using escrow.com or Moniker Escrow with transactions in the high $xxx on up.

Moniker Escrow: http://www.moniker.com/aftermarket/domain-escrow.jsp

***mis_chiff*** · 11-18-2007, 01:30 PM

Isin't there a way to invoice the buyer and
put a clause in the description about it being
"the sale of a domain name and there is no refunds. And by agreeing
to this purchase - buyer agrees to terms?"

Would paypal honor that - knowing the buyer was aware
of the terms?

Daniel · 11-18-2007, 02:16 PM

It's useful to have both verified, but not a guarantee.
They can charge back (anyone can).
Use www.Escrow.com for any large $XXXX deals.

Dan

r72gs · 11-18-2007, 02:18 PM

Originally Posted by mis_chiff

Would paypal honor that - knowing the buyer was aware
of the terms?

Paypal might, but if a credit card was used to add to paypal it could be up to the credit card comapny. Who knows how they would see it.

Best best, use escrow.com.

Porte · 11-18-2007, 04:19 PM

PayPal won't fully protect you against digital goods; including web sites, web products and domain names. So I would not certainly recommend PayPal for high-priced transactions. And using Escrow would be safer bet.

SimpleDomaining · 11-18-2007, 07:38 PM

it is really hard to protect yourself from fraud, which happens sometimes when you use paypal, but there are steps i always do at least to have a chance to fight back. i have had situation when i sold domain via paypal, got money, pushed domain and next day buyer claimed his money back. So after that i first of all always keep the email conversations with buyer, where he mention that he is going to send me payment via paypal. Next, i open my domain account, put mouse over the clock on the monitor to see date and time and make a print screen image that at this day and time, which was BEFORE buyer sent me payment via paypal, domain belonged to me. Next i do print screen of confirmation page of pushing domain to the buyer's account again with day and time on the image. This is giving me some prove, that right before i got payment, domain was mine, and that right after i got payment i have pushed domain to buyers account, which he provided via email, which i sure keep. This does not giving me guarantee to get my money back, when fraud happens, but giving some hope. And i sleep well

. Anyway, i never do any sales over $100 via paypal.

JoeCanadian · 11-18-2007, 08:06 PM

Here's my suggestions:

- know your buyer. If you are dealing in an environment like NamePro's where there is a buyer feedback - look at the feedback and if you don't feel right about a transaction its ok to pass.
????: NamePros.com http://www.namepros.com/domain-newbies/397170-paypal-risk.html
- require that payment be from the seller's cash balance. Your buyer can't do a credit card chargeback if he doesn't use a credit card. Also saves on fees if your money is paid to a personal account.
- agree with suggestion of using alternative with higher priced amounts. One platform I've used for smaller amounts is TDNam. Cost is only $5 for transactions under $100 and I've been told by TDNam that they absorb the risk of chargebacks. Of course both buyer and seller have to both be members of TDNam which is I think $4.99/year.

domainco.us · 11-22-2007, 04:35 AM

Originally Posted by Porte

PayPal won't fully protect you against digital goods; including web sites, web products and domain names. So I would not certainly recommend PayPal for high-priced transactions. And using Escrow would be safer bet.

Why is this so?

11-18-2007, 12:45 PM	THREAD STARTER #1 (permalink)
cybermonkey NamePros Regular Join Date: Oct 2007 Location: Dania, FL Posts: 579	PayPal Risk Hi, everyone! I need some advice on how do I protect myself using (PayPal) buying and selling domains. Is it important to have a verified (PayPal) for both seller and buyer? Can a buyer do a "Charge Back"? In which case would you recommend to use (Escrow) service? Thank you,

11-18-2007, 02:16 PM	#4 (permalink)
Daniel Danltn.com Join Date: May 2007 Location: Danltn.com / Nottingham, UK Posts: 1,201	It's useful to have both verified, but not a guarantee. They can charge back (anyone can). Use www.Escrow.com for any large $XXXX deals. Dan __________________ :lala: *VERY CHEAP ADVANCED* BULK DOMAIN-STATISTICS LOOKUP** :kickass: Danltn's Blog - Daniel Neville's Site Spoof your links! Submit your blog NOW! Putting bloggers on the map!

11-18-2007, 07:38 PM	#7 (permalink)
SimpleDomaining Senior Member Join Date: Jun 2005 Location: Phoenix AZ Posts: 1,628 Follow @simpledomaining	it is really hard to protect yourself from fraud, which happens sometimes when you use paypal, but there are steps i always do at least to have a chance to fight back. i have had situation when i sold domain via paypal, got money, pushed domain and next day buyer claimed his money back. So after that i first of all always keep the email conversations with buyer, where he mention that he is going to send me payment via paypal. Next, i open my domain account, put mouse over the clock on the monitor to see date and time and make a print screen image that at this day and time, which was BEFORE buyer sent me payment via paypal, domain belonged to me. Next i do print screen of confirmation page of pushing domain to the buyer's account again with day and time on the image. This is giving me some prove, that right before i got payment, domain was mine, and that right after i got payment i have pushed domain to buyers account, which he provided via email, which i sure keep. This does not giving me guarantee to get my money back, when fraud happens, but giving some hope. And i sleep well . Anyway, i never do any sales over $100 via paypal. __________________ naturalskincareproducts.com

11-18-2007, 08:06 PM	#8 (permalink)
JoeCanadian NamePros Regular Join Date: Aug 2006 Location: British Columbia, Canada Posts: 626	Here's my suggestions: - know your buyer. If you are dealing in an environment like NamePro's where there is a buyer feedback - look at the feedback and if you don't feel right about a transaction its ok to pass. ????: NamePros.com http://www.namepros.com/domain-newbies/397170-paypal-risk.html - require that payment be from the seller's cash balance. Your buyer can't do a credit card chargeback if he doesn't use a credit card. Also saves on fees if your money is paid to a personal account. - agree with suggestion of using alternative with higher priced amounts. One platform I've used for smaller amounts is TDNam. Cost is only $5 for transactions under $100 and I've been told by TDNam that they absorb the risk of chargebacks. Of course both buyer and seller have to both be members of TDNam which is I think $4.99/year. __________________ My 4 Letter .com's

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11-18-2007, 01:27 PM	#2 (permalink)
webfreak Senior Member Join Date: Dec 2005 Posts: 1,604	Unfortunately, you really cannot fully protect yourself using PayPal to complete domain transactions. Even with a verified buyer, there is a risk that you will lose the domain and the money. I'd recommend using escrow.com or Moniker Escrow with transactions in the high $xxx on up. Moniker Escrow: http://www.moniker.com/aftermarket/domain-escrow.jsp

11-18-2007, 01:30 PM	#3 (permalink)
*mis_chiff* goof free! Join Date: Mar 2006 Location: Canada Posts: 9,362 Follow @mis_chiff	Isin't there a way to invoice the buyer and put a clause in the description about it being "the sale of a domain name and there is no refunds. And by agreeing to this purchase - buyer agrees to terms?" Would paypal honor that - knowing the buyer was aware of the terms?

11-18-2007, 04:19 PM	#6 (permalink)
Porte Senior Member Join Date: May 2005 Location: I'm right here Posts: 3,525	PayPal won't fully protect you against digital goods; including web sites, web products and domain names. So I would not certainly recommend PayPal for high-priced transactions. And using Escrow would be safer bet.

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