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PayPal and eBay - Friends Or Enemies?

 Online, the safest way to buy or sell anything is to do it through a safe merchant account. With many around it can be difficult to choose from. If you use eBay then you will be forced to use PayPal, a merchant account owned by Ebay.

PayPal has a sign up procedure which takes at least 3 - 5 days before you are able to withdraw any funds. You must link your debit account with your PayPal account, as a final verification of your PayPal account. Whilst you are awaiting PayPal account verification you can happily put as much money as you want into PayPal but you cannot withdraw funds until your account has been verified.

You will not earn interest leaving funds in your PayPal account, so it is important that you withdraw funds 
from your PayPal account asap for two reasons, the second will be explained later.

There are 3 choices of PayPal accounts. One to buy through PayPal only, one to buy and sell through PayPal which is their Premier Account and a business account. So really PayPal does cover all options of transactions online.

Buying through PayPal seems to be straight forward. You buy a product, if you have any issues with the product ie does not arrive, not as described etc then the buyer can open a dispute. This dispute, once opened automatically freezes the money the buyer paid, so that the seller cannot spend/use it. Imagine the seller's face now?

The buyer can therefore communicate with the seller via the PayPal email system, which makes a record of every communication between the seller and buyer. PayPal states that it prefers disputes to be rectified without the need for PayPal intervention, but there is an option for either buyer or seller to escalate disputes to PayPal for a decision.

This process continues until an agreement between buyer and seller is agreed or if escalated to PayPal, PayPal reaches a decision. The money is only released to the seller once an agreement has been reached and providing a refund as not been issued.

New changes in PayPal's procedure means PayPal can hold onto the sellers funds for either a 21 day or 180 day period, which all sellers need to be aware of.

PayPal and eBay: Sellers Enemy and Buyers Friend is the next article which covers PayPal suspension of accounts, restrictions on funds and the nightmare sellers face when dealing with eBay and PayPal. Don't miss it!!!