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Even though transfering money to a paypal account is almost instant it still takes time for this balance to be forwarded to a usable account. So my question is, is it best to wait for funds to clear in usable account (up to 7 days) before shipping items?

I have heard of problems with PayPal, but never seen them myself. I use PayPal 4 SpaceF's stuff, John Bowen, PlanetZ, forum memeber based purchases, Creamware, and all of my ebay stuff. This service has been excellant 4 me so far, and makes my expected shipments very quick. For example, I just recieved 4 ebay purchases last week, they arrived on thursday, I made my purchase through PayPal on Saturday, and Sunday.

It's the same for me Jimmy. I made quite a few purchases via ebay and paypal but only one sale. The buyer was happy to wait the 7 days last time untill funds actually cleared so no problem. But from the buyers perspective it's obviously a hassle to have to wait especially as paypal says the funds are there, wether or not the balance is real or just a number. My concern with shipping early is that it is possible (how possible?) for the buyer to try and stop the "actual transaction" from going through.

Hmmm. It's all funny money to me i'm afraid. Convenient but not very comforting i must admit.

As I've said elsewhere on this forum, I had a very very bad experience with Paypal, and personally will never do business with them again.

I sold a laptop- I was paid via paypal, I transferred the money to my bank account, I saw that the money was received/cleared there, and then I delivered the item to the buyer.

14 days later, the payment was reversed, paypal claiming it was fraudulent, and I was left with a negative $1000 balance.

I didn't qualify for their "seller protection policy" or whatever it's called - there's a long list of requirements you need to meet, which I didn't.

There was a class-action lawsuit against them for this kind of thing, but I'm not sure where that ended up...

Anyway, as long as you make sure you really follow those guidelines for "seller protection", you should be ok. But make sure you've REALLY got it all covered.

Good luck,
-John

That's terrible John. I thought once the money was in your account that all would be ok. The fact that paypal issued the funds should have meant that they were completety satisfied!

The better solution for such large transactions is to use a 3rd party escrow service.

Too bad google's service doesn't allow person to person ash transactions...