Hot answers tagged

90

The way this one works is interesting, and there's a variant of it in the 'states as well: You receive more money than you're asking for with this item. They ask you to pay their private transport using the 'extra' money they sent you, and maybe even leave a little extra for you for your troubles. After you send the payment to their 'private transport', a ...


89

You're potentially in very deep water here. You don't know who this person is that you're dealing with. Before you'd even met him, he just gave you his banking info, seemingly without a second thought. You have no idea what the sources of his money are, so what happens if the money is stolen or otherwise illegal? If it is determined that you used any of ...


79

I've sold a limited number of times on eBay (not for profit, just cleaning out basement). Any time a buyer offers anything that's not 100% 'normal', i.e. needing anything at all outside the terms of normal sale, I cancel the transaction. Maybe you'll lose the honest buyer who genuinely had some issue. It's a big world, and they'll find their item elsewhere, ...


68

With eBay, what's important to always keep front and center is how to protect yourself via eBay's policies, because diverging from them can easily result in all monetary burdens resting on you, possibly along with account penalties being incurred. I'll explain, but to start, in answer to "how to deal with" this situation: In Short, How to Proceed ...


63

There's absolutely no need to be embarrassed. This happens constantly, hundreds of times a day. The people you speak to at PayPal and other companies won't even notice or remember you it is so common. So nothing to worry about. All you can do is constantly dispute it with PayPal or other relevant parties. Good luck. Footnote: would probably achieve ...


58

Yes, the scam is PayPal is going to reverse on you eventually. Either they are going to reverse the charge, (a buyer can reverse a PayPal payment if they claim fraud), or they used a hacked account or stolen credit card data in the first place. Meanwhile, they'd have you irreversibly send good cash money. Once they've got you on the hook by sending you ...


58

Congrats! You found a legitimate arbitrage situation that indeed could make you some money. These are increasingly rare, which does make it kind of cool, even if you end up not taking advantage of it. IMHO it's not worth it due to the spending cap. The deal you Discovered appears to pay 5% on PayPal transactions, including those made to friends and family, ...


52

TL;DR - Do not attempt to take money from someone's bank account based on a verbal agreement, even if you feel you're entitled to it. OK, reading between the lines here it looks like the services offered by your company are of an "adult" (possibly illegal?) nature and that this individual has actually paid you in full for the services rendered up to this ...


45

Let me first say that I am not an accountant. I recommend that you do meet with an accountant; he or she will be able to tell you the best way to handle this. That having been said, I'm going to offer you one idea for handling this. Probably the least complicated way to structure this is as a separate sole proprietorship for each of you. You would claim ...


36

When you get an email like this, try searching for some of the text of the email. In this case I searched for "because it is an Instant payment and secure for online purchases" (with the quotes to search for the exact phrase). The first two matches were links to this very question, but there were a couple more that were interesting: Vmax Club Sweden • View ...


34

I think JTP's answer is a good one, you will want to cancel this order. Their reasoning is maybe a little more zealous than I would handle it, but in this case, I agree with your assessment - this is almost certainly a scam. But it seems your real question is: How do I cancel this transaction. Here is a link to an eBay site explaining how to cancel it. ...


31

It is not wise. I think that if your charity gets $1M/month (or even $100K/month) in donations, it would be prudent to have a (good) accountant oversee your operations, and use a proper FDIC-insured banking system. I'm aware of a company who was using PayPal for retail sales and got stuck with hundreds of thousands of dollars on their PayPal account and ...


27

I'd form an LLC, with the partner (or not). (I used Legal Zoom to do this, a few years ago. Today it costs $79. (There may be some minor state fees, no capital requirements in my state.)) Get a bank account in the name of the LLC. Connect bank account to Patreon/Paypal. Have funds go into bank account. Transfer funds from bank account to your account and ...


24

This is a large-scale scam operation This is not a local, inside-the-USA "sugar daddy" who loves you but is a jerk with money. This is an international scam operation that is working scams against many Americans at the same time, and crossing them up against each other. The perpetrators are in Pakistan, Belarus, Yemen or some other location beyond ...


21

What you have there is a General Partnership. You already have a General Partnership. You didn't need to do anything to create it, it just arose when you agreed to share revenue. In this situation you split income and expenses as far as the IRS is concerned. You don't get much flexibility in how this is done, because you have a General Partnership and ...


17

I have a PayPal account that I have linked to my bank account. My PayPal balance is always $0. When I make a purchase with PayPal, PayPal will automatically withdraw the funds from my bank account to make the purchase. PayPal does not ask my permission for each purchase. I probably gave them permission to do this when I linked my bank account. Or ...


15

You said that this individual was going to test you, and then... asked me to start by sending $29 to his account managers payapl so he would have my information, am right to think this is a scam? Regardless of if this is a scam or not (although it almost certainly is), that's not at all how PayPal works. If someone wants to send you money, all they need ...


15

Honestly, it seems like your best course of action is the police. Save everything you have from this man (literally everything), and turn it over to law enforcement. In general, it's possible to get information from photos, financial information, etc. Hopefully, this will be enough to track him down. This tool is a tool for viewing metadata of images. If ...


14

I have 2 PayPal accounts for this purpose (with different email addresses). The first account is tied to my real email address, and has my real name, phone and home address associated with it. This account is also connected to my bank account and credit cards. For riskier transactions where I don't need physical delivery (or will accept delivery to my ...


14

Some suggestions. First ask your bank if it is possible to accept a cheque in US dollars. Some won't but some will, possibly for a fee. Second ask your bank if there is an account you can open that would take a US dollar cheque. Lots of banks can set those up, again possibly for a fee. Try another bank in your country off they won't. This is your most ...


13

The only way to prevent it is to not use PayPal. The terms of usage are draconian, and by using the service you agree to them. I'm sure that when the case gets to a court of law, they will find where it is authorized. Paypal is not a bank, and the money there is basically "entrusted" with the company and is not insured by anyone. They don't need or have to ...


12

Your £180 laptop isn't anything special, and isn't anything that a buyer on the other side of the country should be interested in. He can find plenty of £180 laptops at home. You can avoid scams on these kinds of sites by dealing in person, cash only. Another sign that this is a scam: he doesn't even know what you're selling or how much you're selling ...


11

Not really. You can promise, but that would not prevent you from actually doing it. The seller can then claim "he promised" to PayPal, but PayPal usually don't care about seller claims, and I assume Google wouldn't either. These companies only care about their bottom line, and do not take any risks, so in case of chargebacks - sellers are usually screwed. ...


11

What legal way can I take what I am owed from this guy? The legal ways are for this guy to transfer you the money or give you instructions that will allow you to get the money. Alternatively you would need to file a civil suite to recover the funds. What illegal way do people use this info if they had it? I don't want to get in trouble, but I'm just ...


10

Although there are no transaction fees from PayPal, your bank should treat this as a cash advance rather than a payment and so will charge you fees. The cash advance fee will be larger than 1%, so you'll definitely lose money. Plus you'll start paying interest immediately (unlike for purchases). PayPal warns that you'll get cash advance fees here.


10

PayPal does charge a premium, both for sending and receiving. Here's how you find their rates: Log in to the "summary" page. Directly above the numerical amount of your balance are the words "PayPal Balance" Click on "PayPal Balance". A new window will open showing current balances of any currency that you have ever owned there. All of my money is in US ...


10

As long as there is nothing more to this story you aren't sharing, you can expect those bills you paid to come back (you will have to pay them again later). You can be pretty certain that the name he gave you was fake, and that the bank account you paid your bills with was not his. I would not try to do anything at all with the information he gave you ...


10

Up to the point where he wants you to pay for things everything is highly unusual but not illegal in any way. Then comes the point where he asks you to pay. Which you already did. If you still have the gift cards and didn't tell their numbers to anyone, then you haven't lost anything yet, you just bought gift cards. If you sent him the gift cards, or you ...


9

According to the paypal UK website: All you need to send money is an email address, or mobile number, and PayPal will do the rest. You don't even need the person's bank details. Also, you can send an invoice with the wanted amount. The client will receive an email with a payment button, to make the settlement they will only have to fill their billing ...


9

PayPal is generally a pretty safe way to send money, because not only is there a money trail, but PayPal has pretty good fraud and buyer protection. Furthermore, if you fund your PayPal account with a credit card, then you get the additional protection provided by your credit card bank too. If you use PayPal, there isn't really a way for her to take more ...


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