PayPal Mass Pay = No Chargebacks

[RegFee]

Paypal Mass Pay = No Chargebacks?

http://www.dotweekly.com/2008/04/12/is-paypal-safe-to-accept-as-a-domain-payment-i-think-so/

I've known about Mass Pay for a while now, but I didn't even think about not being able to do chargebacks. In the comments, the author says he's done an $xx,xxx payment with mass pay, but wouldn't recommend an anonymous transaction >$1000. So if you have a buyer who seems to trust you and doesn't want to pay an escrow fee, maybe this would be a good way to go. I think I'll stick with escrow for most sales, though, and leave paypal for <$100.

 

[The Stealthy One]

Is it true that Masspay can be done only on PP balance? I think I have read thread in DNF about his. It can be done by either credit card or balance.

Yes! This is exactly what I am wondering.

 

[Spade]

Is it true that Masspay can be done only on PP balance? I think I have read thread in DNF about his. It can be done by either credit card or balance.

Correct. It can only be don if you have a balance in the account.

 

[Charley]

Is there some kind of downside to moneybookers that more people dont use it?

Before being able to transfer larger amounts, your bank account must be verified.

Bank account verification is done by making a small funding to your moneybookers account using a credit card. The account should be cleared in about 48hours.

Verification of your credit card is still required for any other credit card transaction within moneybookers.

 

[-REECE-]

Moneybookers also treats funding by credit card as a credit card cash advance. Depending on your credit card issuer, this may have large fees involved. In my case, it amounts to $10 per advance. If you fund your account once for 10k, it's alright (and much cheaper than escrow + safer than Paypal), but if you're funding it 1 domain purchase at a time, Moneybookers rapidly becomes very expensive. I've been Moneybookers/Escrow only on all my domain transactions for about 6 months now and it seems like more and more domainers are getting comfortable with Moneybookers -- at least I'm not getting as many "why can't we use Paypal?" as I used to

 

[htmlindex]

I have begun to use MoneyBookers and Escrow predominantly UNLESS I know who is sending me the paypal. I also refuse to accept paypal for international purchases.

Justin

Is there any reasons why you discriminate against international Paypal payments?

 

[dnk]

Most companies make payments by Paypal Mass pay for $ XXXX amounts, very safe and convenient as the recipient does not have to pay fees, but don't think it is widely used for domains.

 

[DotWeekly]

As I stated when I first wrote the article, in order to do a Mass Pay the funds have to be in your account at paypal. Unless the money was transferred in by another incoming payment, the only way to fund your account is via your bank account listed on file. So what paypal does, is a wire transfer from your bank account to your Paypal account to "fund your account". This becomes Cash!

With any form of payment, nothing is 100% solid/safe, but I feel much better getting a Mass Pay then just a normal Paypal payment.

The other nice thing, is the person getting the money does not get hit with any fees. They get the exact amount of the payment being sent. The sender get's charged Up To $1.00. I sent a Mass Pay the other day for $20 and the fee for me was around $0.40, so it's not Always $1.00.

Also, a Mass Pay can be used to "help" you in a transaction as well, since the person getting the cash, get's the full amount with no fees, which in the end makes them more happy