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 ...


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 ...


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 ...


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 ...


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 ...


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 ...


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 ...


14

Yes, Paypal has such a button you can use, but to be clear, the money you receive is taxable income. Your website is providing 'value' to the readers, and while they may feel they are making a gift to you, it's earned income as far as the IRS is concerned. (This assumes you are in the US, you may wish to add a tag to indicate your country)


12

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 ...


12

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 ...


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 ...


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

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 ...


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 ...


9

When you link a bank account to your PayPal account, all you are doing is saving your bank account information so that PayPal can pull (withdraw) or push (deposit) money from/to your bank account. In a sense, you can think of PayPal like a separate bank (even though they aren't truly a bank). When you deposit money into bank 1, bank 2 doesn't know about, ...


8

The exact heads under which you classify this would vary from country to county. Essentially you would need to treat as; - The fee charged by Paypal as Expense under some head. - The taxes would be on profit, so apart from your cost, the fee would also get deducted as expense and tax would be on the profit after this.


8

I'm assuming you're in the United States for this. I highly recommend getting a CPA to help you navigate the tax implications. Likely, you'll pay taxes as a sole proprietor, on top of any other income you made. Hopefully you kept good records because you'll be essentially paying for the profits, but you'll need to show the revenue and expenditures that you ...


8

See this help article from Paypal about payment methods for purchases. When you don’t have a PayPal balance or don’t have enough in your PayPal balance, we’ll use your bank account as the default payment method unless you select a different way to pay. So yes, Paypal will automatically deduct from your bank account when you make a purchase, unless you ...


7

PayPal is designed to automatically and correctly handle name formatting in Taiwan and other Chinese speaking countries. We are constantly working to improve localization for all PayPal supported countries. In some cases, a name may display as (first name, last name) on the PayPal website but this will not affect payment processing or the process for ...


7

You have not indicate your country of residence or that of your friend. The fees would depend on this. Normally within US transfer of funds between paypal acounts is free. Transfering Outside there is a small charge. Further if when you withdraw the money to your bank account there would be a small fee. Refer to When it's free and when there's a fee on ...


7

You're not focusing in the right place and neither is anyone else on this thread because this isn't about the guy owning you money... This is about you not having enough money to pay your rent. If rent wasn't due and the utility bills weren't piling up, you wouldn't be trying to justify taking money out of someone else's account. So let's triage this. Your ...


7

The thing to look at is PayPal's "PayPal.me" service, which is a pretty neat little item. When you sign up for a PayPal.me account (totally free), you create a unique username. So for example, my PayPal.me account name is DanCAnderson. I can give someone the following web link to send me $500: http://paypal.me/DanCAnderson/500 If you click the link ...


7

PayPal transactions are reversible. You get the money all squared away and they take your items. Maybe they will accidentally pay you too much and ask you to put a check or cash in the desk drawer. Everyone is happy until PayPal says the transaction was fraud, or backed by a bad credit card, etc... they take your money back or otherwise compel you to ...


6

You'll have to call your credit card issuer and ask them. Generally, credit cards don't do bank transfers, since its not a bank account per se. But it may be in some cases that there's an underlying bank account over which your credit card is managed, and then they might be able to do something like that. But we won't know, only your card issuer will.


6

this is to prevent fraud, and there is likely nothing (through paypal) that you can do to speed up the process apart from making sure you verify all the accounts linked to PayPal (bank, credit, etc) and that your relatives do the same. Be mindful that Paypal is NOT intended as a large sum transfer service - they are a convenience for online payments. Using ...


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