Hello, I’m Casey, Editor of GoBankingRates.com. In my last video I gave you some tips for selling on eBay and I
mentioned that PayPal is the easiest and most popular way to accept payment.
However, conducting financial transactions on the internet does pose a
few risks. So, I’m going to give you a few tips for making your transactions go as
smoothly as possible. One of the most important things to keep in mind when
using PayPal are the fees. If you’re buying something, you never have to pay a fee. Transferring money to another person is usually free, too, unless you’re using
a debit card instead of a bank account or transferring money internationally. On
the other hand, if you’re accepting money via PayPal as a seller, the service will
take a cut. It costs 30 cents per transaction plus 2.9% of the
total transaction amount. This is really important to keep in mind when you’re
pricing your item so that you aren’t taken aback by the fees once you make
the sale. Unfortunately, eBay no longer allows
sellers to leave negative feedback for buyers, but you can still look at the
general feedback for a potential buyer to find out how reliable that person is. And
if you’re not doing business over eBay you can use things like communities and
forums to find out if your buyer has ever presented problems in the past. And
luckily if you do run into a problem selling on eBay, you can use the seller
reporting hub to report things like an unpaid item, feedback extortion, or any
other issues you run into with a buyer. Don’t keep your buyer waiting. If they
have any questions for you make sure you answer them promptly so that your transaction isn’t delayed and as soon as you receive
payment you should put the item in the mail. As a seller it’s also strongly
recommended that you purchase either tracking or delivery confirmation so
that you ensure the package gets where you intended. Delivery confirmation
through the US Postal Service is only 85 cents and if your package does get lost
in the mail you can avoid any discrepancies. Also be sure to verify
that the billing address matches the address that you’re shipping to and if
the buyer asks that you send the package out of the country, beware this is a
common PayPal scam because the seller is only protected against a loss if they
ship to the address that’s on file for that buyer. Speaking of scams, there is
some buyer behavior that you should watch out for that indicates that
they’re up to something. A few examples of unusual or suspicious
requests include wanting to rush a shipment at any cost,
sending partial payments from different PayPal accounts, or not making their
payment in full. You should know that you can use PayPal to send and receive money over the web for just about any reason and not just when you’re using eBay. As
long as you keep these tips in mind PayPal can be a great tool for managing
your finances easily and conveniently. Thanks for watching and visit GoBankingRates.com to learn more about generating side income. And don’t forget
to subscribe to our channel so you can see the rest of our spring cleaning
videos.