Paypal question

Re:Paypal question (voodoo do-er)

Tue, 03 Apr 2012 09:23:14 GMT

esCob4r

Well this is completely messed up. I told my parents not to do anything until i say so they forced me into sending the packages with out allowing me to find out what type of payment method was used. I am almost positive that it is instant transfer. I could be wrong though. When my father gets home I will find out. Either way my parents may have just screwed me out of 200 bucks. And if thats the case I guess I will not be seeing anyone for a while because I will not have a computer to play on anymore because this one I will break over my fathers face.

are you under 18?
if so your not allowed to have your own paypal AFAIK

Re:Paypal question (voodoo do-er)

Tue, 03 Apr 2012 09:21:54 GMT

EliteGeek91

I'm not for sure if this is your problem. But when I first made my account, I didn't have my social linked to it, so the first few sales I made, PP help the money for 21 days or until the tracking shows arrived. Of course I shipped soon, and included tracking, so it released the money 3 days after it arrived I believe.

Recently I added my social, etc and now I get money instantly.

I never added my social
just my banks deb. card

Re:Paypal question (esCob4r)

Tue, 03 Apr 2012 09:21:10 GMT

Bowenac

esCob4r

On the bottom of the account it showed Payment Method - Instant Payment or w.e... I called paypal and they basically said the funds will clear up to 3 days after the buyer receives the items and confirms it with paypal or w.e.. When did paypal start this process?

I know they do this with new ebay accounts, it is for buyer/seller protection. Where did you sell it, ebay, forum?

No I actually sold it on another forum. I don't mess with ebay anymore. its a crock and they overcharge for 2 dollar fees if your late on the payment and to ensure your late they will lock your account after you make a sale so you can not pay it.

Re:Paypal question (esCob4r)

Tue, 03 Apr 2012 09:20:01 GMT

Well this is completely messed up. I told my parents not to do anything until i say so they forced me into sending the packages with out allowing me to find out what type of payment method was used. I am almost positive that it is instant transfer. I could be wrong though. When my father gets home I will find out. Either way my parents may have just screwed me out of 200 bucks. And if thats the case I guess I will not be seeing anyone for a while because I will not have a computer to play on anymore because this one I will break over my fathers face.

Re:Paypal question (Bowenac)

Tue, 03 Apr 2012 06:44:42 GMT

esCob4r

On the bottom of the account it showed Payment Method - Instant Payment or w.e... I called paypal and they basically said the funds will clear up to 3 days after the buyer receives the items and confirms it with paypal or w.e.. When did paypal start this process?

I know they do this with new ebay accounts, it is for buyer/seller protection. Where did you sell it, ebay, forum?

Re:Paypal question (wdflyer)

Tue, 03 Apr 2012 06:27:20 GMT

EliteGeek91

Hmm, I'd like to see that. When they asked for mine, they called and limited my account, till I returned the call and give it to them.

I wouldn't worry about that, it is standard practice for them.

kram36

I should get a tax break, cause most everything I get money paid to me on is at a loss of what I paid for the item.

I was kind of wondering about that. Obviously all the money that comes in to your Payapl account for sales is not profit, if you meet this threshold and the entire amount of incoming payments is reported to the IRS are you on the hook for $20,000 in income?

Re:Paypal question (Xtrem)

Mon, 02 Apr 2012 22:59:46 GMT

They hold your money if you are a newer user of Paypal just in case you scam someone

Re:Paypal question (Nereus)

Mon, 02 Apr 2012 22:33:32 GMT

^ lol.. wish it worked that way.

Re:Paypal question (kram36)

Mon, 02 Apr 2012 22:27:33 GMT

Nereus

Re credit card payments, yes they take time to clear, and DO NOT send anything out until it is cleared. Tell the person that in future if they want instant transfer (clears immediately) they have to link a bank account to their paypal, which takes a couple of days to set up for the first time.
The SSN number can be used by your state tax dept to see if you're paying sales tax (where applicable) on items from out-of-state, if they decide to do an audit on you. Also I'm sure IRS / Homeland Security like to follow money trials as well, either for money laundering / racketeering investigations, or even just undisclosed income you should be paying tax on.

I should get a tax break, cause most everything I get money paid to me on is at a loss of what I paid for the item.

Re:Paypal question (EliteGeek91)

Mon, 02 Apr 2012 22:22:00 GMT

kram36

I just checked my account and they do have my SS#. I don't remember ever giving it to them.

Hmm, so they never asked lol...

kody7839

EliteGeek91

kram36

Mine is a business account also.

Well Idk, I'm not gonna cry about it. Maybe cuz I sell about 2k per month.. Not for sure.

That's odd. I run about 8-12K a month through my business account and they've never asked for my SS#. I wouldn't give if they asked either...kinda over the limits of what I'm willing to give for a convenience payment option.

Hmm, I'd like to see that. When they asked for mine, they called and limited my account, till I returned the call and give it to them.

Re:Paypal question (Nereus)

Mon, 02 Apr 2012 22:16:07 GMT

Re credit card payments, yes they take time to clear, and DO NOT send anything out until it is cleared. Tell the person that in future if they want instant transfer (clears immediately) they have to link a bank account to their paypal, which takes a couple of days to set up for the first time.
The SSN number can be used by your state tax dept to see if you're paying sales tax (where applicable) on items from out-of-state, if they decide to do an audit on you. Also I'm sure IRS / Homeland Security like to follow money trials as well, either for money laundering / racketeering investigations, or even just undisclosed income you should be paying tax on.

Re:Paypal question (wdflyer)

Mon, 02 Apr 2012 22:13:02 GMT

kram36

wdflyer

Just changes to Paypal's policies:

The following acknowledgement has been added to Section 4.7 (Taxes): You acknowledge that in starting in 2011, PayPal will report to the Internal Revenue Service the total amount of the payments you receive each calendar year into all the Accounts you own if you(i) receive more than $20,000, and (ii) receive more than 200 payments, in that calendar year.

How are they going to report it to the IRS if they don't have my SS#? I've been with PayPal since 2001, maybe I'm in some kind of grandfathered contract that does not require it?

This just started in the beginning of last year. Since it is income tax related I don't think they could grandfather anybody in, seems like they are just complying with the IRS tax code. It appears they won't ask for the info unless you reach the thresholds. Sounds about the same as what a Casino would have to report to the IRS if you win over a certain amount.

Before your payment volume exceeds the reporting thresholds, you’ll be asked to add your tax ID number, such as a Social Security Number (SSN) or Employer Identification Number (EIN), to your existing account(s), if you don’t already have one on file. link

Re:Paypal question (esCob4r)

Mon, 02 Apr 2012 21:59:18 GMT

Ok made me worried. I feel better now. =P

Re:Paypal question (kram36)

Mon, 02 Apr 2012 21:51:33 GMT

I just checked my account and they do have my SS#. I don't remember ever giving it to them.

Re:Paypal question (wdflyer)

Mon, 02 Apr 2012 21:31:01 GMT

Just changes to Paypal's policies:

The following acknowledgement has been added to Section 4.7 (Taxes): You acknowledge that in starting in 2011, PayPal will report to the Internal Revenue Service the total amount of the payments you receive each calendar year into all the Accounts you own if you(i) receive more than $20,000, and (ii) receive more than 200 payments, in that calendar year.

Re:Paypal question (kody7839)

Mon, 02 Apr 2012 21:30:11 GMT

EliteGeek91

kram36

Mine is a business account also.

Well Idk, I'm not gonna cry about it. Maybe cuz I sell about 2k per month.. Not for sure.

That's odd. I run about 8-12K a month through my business account and they've never asked for my SS#. I wouldn't give if they asked either...kinda over the limits of what I'm willing to give for a convenience payment option.

Re:Paypal question (EliteGeek91)

Mon, 02 Apr 2012 21:25:33 GMT

kram36

Mine is a business account also.

Well Idk, I'm not gonna cry about it. Maybe cuz I sell about 2k per month.. Not for sure.

Re:Paypal question (kram36)

Mon, 02 Apr 2012 21:21:36 GMT

Mine is a business account also.

Re:Paypal question (EliteGeek91)

Mon, 02 Apr 2012 21:19:41 GMT

Yeah true, but I said they asked for MINE. I guess cuz mine is a business account maybe, idk. But doesn't bother me.

But yeah, it's sorta normal for some. He can't scam you, it's just if you mind waiting alittle bit. When you ship, add delivery confirmation (USPS) or tracking (UPS, FedEx), and upload it to PP, then after it arrives, I think in 3 days, they'll release the money usually.

Re:Paypal question (kram36)

Mon, 02 Apr 2012 21:12:28 GMT

EliteGeek91

I'm not for sure if this is your problem. But when I first made my account, I didn't have my social linked to it, so the first few sales I made, PP help the money for 21 days or until the tracking shows arrived. Of course I shipped soon, and included tracking, so it released the money 3 days after it arrived I believe.

Recently I added my social, etc and now I get money instantly.

PayPal never requested my SS#. All they needed to verify me was a bank account. One of the blessings with having money in PayPal is it can't be tracked by your SS# for something like a garnishment.

Re:Paypal question (esCob4r)

Mon, 02 Apr 2012 21:11:01 GMT

So this is normal? And it is not something where I might get scammed? Ok that makes me feel a little bit better. I will ask my father if he added his social to the account or not. He made it so he could link his CC on it so I can use paypal. Thank Elitegeek! As always you come through as usual.

Re:Paypal question (EliteGeek91)

Mon, 02 Apr 2012 21:02:13 GMT

I'm not for sure if this is your problem. But when I first made my account, I didn't have my social linked to it, so the first few sales I made, PP help the money for 21 days or until the tracking shows arrived. Of course I shipped soon, and included tracking, so it released the money 3 days after it arrived I believe.

Recently I added my social, etc and now I get money instantly.

Re:Paypal question (esCob4r)

Mon, 02 Apr 2012 20:49:24 GMT

voodoo do-er

I never had that happen be4
strange
I contact the buying asap
and never send it out till payment clears, he may be trying to scam you

What am I suppose to say to this person? Thats what I am worried about.

Re:Paypal question (voodoo do-er)

Mon, 02 Apr 2012 20:18:57 GMT

I never had that happen be4
strange
I contact the buying asap
and never send it out till payment clears, he may be trying to scam you

Re:Paypal question (esCob4r)

Mon, 02 Apr 2012 19:55:26 GMT

On the bottom of the account it showed Payment Method - Instant Payment or w.e... I called paypal and they basically said the funds will clear up to 3 days after the buyer receives the items and confirms it with paypal or w.e.. When did paypal start this process?

Re:Paypal question (wdflyer)

Mon, 02 Apr 2012 19:50:05 GMT

esCob4r

I am not sure where to put this question but I received a payment for my 1090t. How ever the payment in the paypal account that was made just today and has a credit card linked to it is saying that the payment has been placed on hold for up to 21days. Can anyone shed some light on this as to why the payment is on hold? I can not print a shipping label and also I am a bit concerned to send this chip with a payment being on hold. How am I to know that I will actually receive the payment?

Just tell the buyer that they can either wait for the payment to clear, pay by another method, or get a refund.

But no matter what you do, do not send it out until the payment clears.

Re:Paypal question (voodoo do-er)

Mon, 02 Apr 2012 19:32:44 GMT

kram36

Refund the money and tell them no CC payments.

this

should has sad that fist off

Re:Paypal question (kram36)

Mon, 02 Apr 2012 19:24:51 GMT

Refund the money and tell them no CC payments.

Re:Paypal question (Tondo)

Mon, 02 Apr 2012 19:24:27 GMT

Which option did they pay with?

Re:Paypal question (voodoo do-er)

Mon, 02 Apr 2012 19:20:54 GMT

must be something there CC cump does, like it's being processed
but IDK
I'd contact the seller and ask them, and not send it till it is clears