PayPal No Longer Returning Fees from Refunds!

Here's another "Kick in the A**" from PayPal - Whereas, eBay has a 30 day limit on a buyer requesting a return/refund for whatever reason ... PayPal's limit is 6 MONTHS! That said, that means that if I sell a coin and receive funds via PayPal, if the buyer - after trying to sell the coin on eBay or wherever for 5+ months wants to return the coin claiming "not as described" ... I, as the seller, will be forced by PayPal, to accept the coin back for a FULL refund to the "buyer" (read CROOK). How does that strike a blow in running your business? No wonder PayPal is always hitting us up to apply for one of there business loans ... they make us keep out cash flow out of balance because of the 6 month return policy. So, do you think this stinks? it reeks!

 

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"You [buyer] can request a refund up to 180 days after you pay for your item."

This is from PayPal's Policy from the official PayPal policy page!

Why does PayPal need to do this sort of "FREE 6 months trying to sell the coin you just bought or you can RETURN it to the seller for a FULL refund." -
Why - Why - Why - Why - Why - Why - ???

Does this P**S-Off anyone besides myself?

 

Why do you keep writing it over and over in bold colored text letting a whole bunch of people know who were previously unaware. Now more people can get scammed by it awesome

 

I don’t understand your comment that “Now more people can get scammed by it awesome “ What’s the fine line between making people aware of an injustice and - as you seem to feel - making others aware of the presence of a scam they can now use on unsuspecting sellers?

 

I think he’s being facetious. ?

 

Point was it's unnecessary to make it jump off the page in that manner. Nothing is going to change if the handful of people here complain to paypal. All that's happening is now more people are aware of it. It's been that way on PayPal for years if not longer. Their decision to charge sellers for returns shows they aren't worried about it, the only way you would actually get a change is for millions of people to complains or 100s of thousands to leave PayPal. They are doing a good job of getting people to consider using the new eBay method though

 

We must to agree to disagree. I don't see why alerting the "people" to a potential costly event is disingenuous and detrimental. To close this dialogue out ... the "buyer" that screwed me is: exquisitenostalgia on eBay - BEWARE!

 

How do you feel about using Venmo instead of PayPal for buying & selling coins? Are there any pros & cons there? On the surface, it certainly looks better than PayPal.

 

I agree - Venmo does looks musch better than PayPal. However, those of us that use eBay as our selling platform, are not allowed to offer an alternative payment service.

 

Venmo is riskier from a selling standpoint.

 

Venmo IS PayPal.

 

Why would you say it's riskier from a sellers standpoint?

 

Theres less protection. It was designed for people that know each other aka friends and family, and basically even tells you it’s not meant for business style transactions with strangers

 

But i wonder what the risk would be for the seller? Once the payment goes through, the seller would then fulfill his obligation to send. I would think it would be more risk for the buyer than the seller.