Is selling a domain using PayPal eCheck safe?

[affordableweb]

I received an offer on a domain that I accepted. The buyer lives nearby and seems legit but he has offered to pay with Paypal and has submitted payment using an eCheck.

I am concerned that the payment is not secure and can be refunded or whatever after I transfer the domain. Should I be concerned with this or is Paypal considered safe for domain sales?

 

[ginge133]

You should wait for the echeck to clear before you push the domain to him... Thats what id do anyway

 

[affordableweb]

Oh yeah, I'll be waiting for it to clear but I wonder if after it does clear can they cancel it still?

I guess I should ask Paypal but I am sure someone here knows more about dealing with domain sales and Paypal then the people at Paypal do.

 

[mis_chiff]

You should wait for the echeck to clear before you push the domain to him... Thats what id do anyway

I'll second that!
Unless you know the buyer personally - I would definetly wait!

Oh yeah, I'll be waiting for it to clear but I wonder if after it does clear can they cancel it still?

That I don't know - personally.
But definetly interested in the answer as well

 

[Tippy]

Well considering I've had regular payments cancelled 60+ days after the fact I dont see why they couldnt cancel, PayPal is risky but what can you do.

 

[affordableweb]

Well considering I've had regular payments cancelled 60+ days after the fact I dont see why they couldnt cancel, PayPal is risky but what can you do.

60 days later huh? See that is what is concerning me because although its not a million bucks it is X,XXX and I don't want to lose the domain. I'm going to have to put in a call to Paypal to see what they say.

 

[Tippy]

Unless I knew the person I wouldnt accept a payment via paypal over $500, certainly not in the thousands, too risky.

I'm sure if you explain to the buyer that you dont use PayPal for transactions over $500 for both your and his sake he should understand.

Suggest, bank wire, certified check or you say he lives near by, go visit him, cash is always the best, even if it costs you $50 in gas, PayPal fees would even it out I would imagine for that price.

Good luck,

Mike

 

[Brujah]

An eCheck is not the same as a normal paypal transaction. It comes straight out of the persons bank account. They can't get it back.

 

[StoneRoses]

An eCheck is not the same as a normal paypal transaction. It comes straight out of the persons bank account. They can't get it back.

Is this definately right? i hope so

Can someone clarify

 

[Mark]

Echeck or not .... Paypal is a risk. On lower amounts you have to use something though.

It sounds like you've checked the buyer out somewhat ... You can't do much more IMO other than wait for it to clear.

 

[affordableweb]

According to Paypal an eCheck can be refuted at the issuing bank as unauthorized. It can be canceled and is not secure.