How safe is PayPal Mass Pay?

[mrjohn]

I've had a couple folks in various situations offer to buy domains using PayPal Mass Pay. I've only started accepting Mass Pay for bigger sales.

How safe is Mass Pay? As safe as escrow.com?

What are the conditions where I, as the seller, would get screwed over?

 

[RicoShay]

As far as I know and understand, for the person who receives the MassPay its a lot more secure/safer than using standard payment methods. MassPay cannot be reversed so you wouldn't have to worry about chargebacks as you would when receiving payment via standard methods.

Once the money is in your account, its pretty much safe. Do read the PayPal site for more information and clarification of how it all works.

For me, as a reciever of the payment its a win-win situation as I don't have to pay fees and I'd feel safe in knowing that the payment cannot be reversed. However, as a buyer I wouldn't use MassPay unless I completely trusted the seller for the exact reason as above - no reversing in case something goes wrong.

 

[mrjohn]

Mass Pay seems to only come up when someone really, really wants a domain, and I'm a bit leery of them or (more often) leery of the sheer size of the purchase they're offering to make.

The places where I'm selling (besides the every now and then out of the blue email offer) are places where my feedback ratings speak for themselves.

So, as a seller, Mass Pay is nothing but a giant win for me? Cool. That's exactly the answer I was looking for.

 

[thoughtuwanttoknow]

PayPal Mass Pay Stolen Funds

PayPal Mass Pay can be reversed and funds can be stolen from your account at PayPal using the service. So, if you sell to someone using this service you better be sure of them as your domain and funds could both be gone before you know it. This has happened to me twice now. :o

 

[tricolorro]

PayPal Mass Pay can be reversed and funds can be stolen from your account at PayPal using the service. So, if you sell to someone using this service you better be sure of them as your domain and funds could both be gone before you know it. This has happened to me twice now. :o

"PayPal Mass Pay can be reversed"

I do not believe that is true.

From PayPal:

"Q.Can I cancel a payment that I've already sent?

A: You can cancel only unclaimed payments. If the payment is complete, you can contact the person who received the payment and request a refund."

--

"...and funds can be stolen from your account at PayPal using the service."

How?

 

[wussadotcom]

Well then, how about Personal Paypal? It doesn't charge any fees and irreversible right?

 

[mrjohn]

When I submitted all correspondence I was eventually able to obtain the funds.

But, that simply means it was challenged within the framework of PayPal, which is a lot easier than fighting a full-on credit card chargeback where they are making the claim the card was stolen.

Demanding Mass Pay, in my experience, seems to weed out the really bad buyers who want to load up thousands of dollars worth of domains without having any real feedback. That in itself is a win.

 

[RTM]

But, that simply means it was challenged within the framework of PayPal, which is a lot easier than fighting a full-on credit card chargeback where they are making the claim the card was stolen.

Demanding Mass Pay, in my experience, seems to weed out the really bad buyers who want to load up thousands of dollars worth of domains without having any real feedback. That in itself is a win.

I agree 100% especially with the latter part of weeding out less than serious buyers.

For the greatest level of assurance, an Escrow service can't be beat though...

 

[mrjohn]

The big problem with Escrow.com, though, is that the process drags on. I've had buyers who agreed to Escrow and then deliberately dragged their feet trying to pressure me into something else.