An "FYI" and a brief rant

Discussion in 'Coin Chat' started by ddddd, Jan 24, 2020.

  1. ddddd

    ddddd Member

    For those that might not have seen it, PayPal no longer refunds fees when you make a refund (this started around October 2019).

    The rationale is that they provide a service when the transaction is processed (regardless if it is later reversed).

    I can somewhat tolerate eating the fee if I made a mistake and then had to refund someone. What bothers me is cases like I had today. I had a coin listed on eBay with a clear photo and an accurate description (including noting defects with the coin). A person buys it, pays, and then a few minutes later messages me that they want to cancel (claiming they bought the wrong item-side note: how do you buy the wrong coin that is a buy-it-now listing that has been up for several days now?:banghead:). Of course I refund within a few minutes of seeing the message. For all this I get the privilege of paying money to PayPal. :( It's not a big amount, but it still stinks to lose money this way.
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  3. Islander80-83

    Islander80-83 Well-Known Member

  4. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Maybe you'll have to change your listings to inform buyers that the amount of a refund may be subject to the new PayPal rules if the return is through no fault of the seller. ~ Chris
    ripple and CoinCorgi like this.
  5. ddddd

    ddddd Member

    That would be my strategy, but eBay has virtually eliminated that possibility. The buyer can just open a case and receive all the money back. An even more vindictive person could take delivery, then open a case and force even more headaches. It stinks, but just canceling and eating the fee is unfortunately the most cost effective solution.
    ripple likes this.
  6. -jeffB

    -jeffB Greshams LEO Supporter

    Yeah, I used to occasionally snap up obviously-mistaken BIN listings, then message the seller pointing out the mistake and inviting them to cancel and refund. I figured better me than someone who would make a stink about not getting their $500 double eagle. I guess facilitating a $500 sale costs PayPal forty-five times as much as facilitating a $1 sale, so they need to keep $14.80 for the first one and 33 cents for the second one. I'm not sure which one ticks me off more -- keeping $14.80 for a single reversed transaction, or keeping 33 percent of each tiny one.
  7. ddddd

    ddddd Member

    The $1 sale would baffle me more because who cancels a $1 purchase?
    At least with the $500 sale it is a significant amount and one can somewhat understand the buyer's remorse.

    I'd still be more ticked off with a $500 transaction reversed as it's more money lost (unless of course someone nice like you is helping me not lose $1k on a listing error).
    ripple likes this.
  8. ddddd

    ddddd Member

    The one bright side of this policy that I can think of is that it will hurt some of the flippers who pre-sell items and then cancel once they realize the price has went up. I'm sure quite a few people found this out with the 2019 Eagles (those that committed to selling but then cancelled once they saw the prices going up -although the paypal hit was more than likely offset by the higher prices).
    ripple likes this.
  9. Pickin and Grinin

    Pickin and Grinin Well-Known Member

    Either one is making the fortune. There should be a standard transaction fee for this, not a percentage.
    jafo50, -jeffB and ripple like this.
  10. stldanceartist

    stldanceartist Minister of Silly Walks Supporter

    I had this happen with a couple half ounce gold pieces. Was lucky enough that I was able to talk PP into giving me a refund on the fees...but with this bs and the ridiculous 30- or 60- day return I no longer can offer returns on eBay and still protect myself.

    It's predatory, it's unethical, and they could care less what I think.
    ripple likes this.
  11. ddddd

    ddddd Member

    I have been against returns for a while but the latest policies just confirm no returns for me.
  12. Islander80-83

    Islander80-83 Well-Known Member

  13. Hiddendragon

    Hiddendragon World coin collector

    A few weeks or so ago I sold a coin and a few hours later the buyer emailed me and asked me to cancel it, saying their account had been hacked. I don't know if that's true or not, but I'm out the Paypal fee and eBay of course is going to want to charge me to relist it too. You'd think if the buyer asks you to cancel there should be fees waived, but no, it's all or nothing.
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