How long does the Payer have to reverse payment and screw me over?

4 replies
I am selling some niche sites and am getting paid through paypal. However, I want to use the money right away because I want to buy a car that my friends dad is holding for me. No, not a brand new car, a 97, that's all i can afford right now.

However, i've heard that some people screw you over and reverse the payment then take off with your website. Does this mean I should wait until I take the money out of my paypal account? If so, how long should i wait?

I just don't want to use the money in my paypal account and then later on get a reverse payment and then not have sufficient funds in my bank account.

Is this something I should worry about?
#long #payer #payment #reverse #screw
  • Profile picture of the author timpears
    Your best bet (I think) would be to use an escrow service.

    But to answer your question, it depends to some extent. PayPal has a 45 day policy on filing a complaint. However, if they pay via funds from their bank account, that will depend on the bank policy. My bank has a 60 day charge back policy in that case. If they use a credit care, it can be as much as six months, as best as I know. There may be bank cards that allow longer periods, but six months is fairly standard to be best of my knowledge.

    If they use their card or bank account, even after the PayPal period expires, the bank will still do the charge back and then PayPal will do their best to get their money back from you, and also charge you a $15 fee for the charge back, unless they have raised that fee in the past few years.
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    • Profile picture of the author LuisEAvila
      Originally Posted by timpears View Post

      Your best bet (I think) would be to use an escrow service.
      This came to mind but my websites are only prices at $30-$40 dollars so I don't know if it's worth it. I've seen some warriors say that they only use escrow for big payments. However, I've come to realize that I'm an extremely paranoid person and the thought of being screwed over boggles my mind.
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  • Profile picture of the author Silas Hart
    Originally Posted by wicho696 View Post

    I am selling some niche sites and am getting paid through paypal. However, I want to use the money right away because I want to buy a car that my friends dad is holding for me. No, not a brand new car, a 97, that's all i can afford right now.

    However, i've heard that some people screw you over and reverse the payment then take off with your website. Does this mean I should wait until I take the money out of my paypal account? If so, how long should i wait?

    I just don't want to use the money in my paypal account and then later on get a reverse payment and then not have sufficient funds in my bank account.

    Is this something I should worry about?
    You could perhaps ask them to file a dispute before they purchase, so that they can not do so after they have the website. Of course with PayPal, nothing is ever set in stone.
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    • Profile picture of the author Crew Chief
      Originally Posted by wicho696 View Post

      I am selling some niche sites and am getting paid through paypal. However, I want to use the money right away because I want to buy a car that my friends dad is holding for me. No, not a brand new car, a 97, that's all i can afford right now.

      However, i've heard that some people screw you over and reverse the payment then take off with your website. Does this mean I should wait until I take the money out of my paypal account? If so, how long should i wait?

      I just don't want to use the money in my paypal account and then later on get a reverse payment and then not have sufficient funds in my bank account.

      Is this something I should worry about?
      Unfortunately it happens... as timpears stated, for your protection, use a escrow service in transactions involving domain names.

      The fees are minuscule compare to the safety an escrow service provides.

      As far as your current situation, there is no time frame because you didn't offer a refund.

      That being said, I would transfer the money to you Bank Account and if the buyer files a claim, notify the buyer, the registrars and PayPal that you have become a victim of an illegal domain name charge-back scheme.

      It is a common scheme that PayPal is well aware of.

      Also notify the scammer that you are reporting this crime to these authorities, agencies and organizations:

      In essence, don't sweat it; if it happens - hammer the scammer like there is no tomorrow!

      You gotta introduce them to your little friend.
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