Vendors Be Careful When Selling Using Paypal and GoDaddy
Posted by Asuka_Aki | Posted in Money Makers | Posted on 17-09-2008 |
Tagged Under : turnkey
I have come across some interesting bit of information. We are all aware of PayPal fraud but I wondered how it is a person can sell a site through paypal and end up with no site and no money. Well I was on Digital
Point this morning and came across an article by MOG that clarified everything. How easy it is to be dishonest.
There has unfortunately been a large amount of fraud in the last few days with a few users whom appear to be buying domains and then reversing their paypal transactions.
As the perpetrators of this fraud appear to be using good, respected and well + Itrader’d accounts it is very difficult to detect any fraud in advance.
Basically: as a domain transfer is for a non tangible good, paypal will always return the funds to the buyer if they add a dispute to their transaction. It may take up to 60 days to do this if you disagree with the dispute, but paypal will always return the money.
Also, GoDaddy who are the most popular domain registrar, will never enter into discussion about fraudulently obtained domain names, as in their opinion if you sent it and you were authorized to do so, it is your responsibility not theirs.
Both of the above companies have every right to take their stance, but because of this a few members (including myself) have been caught out in the last few days.
SO BE CAREFUL WHEN SELLING YOUR DOMAINS!
My advice would be if you are using GoDaddy and its more than say $100, or at least if its more than you could afford to lose, then use a different service like moneybookers, and for goodness sake if its an amount more than $500 then use escrow.com or a similar service.
Please don’t start posting suspected fraudsters usernames in this thread, that is NOT the point in this, but please be extra vigilant over the next few days/weeks when carrying out transactions.
Above all, remember, if you are being offered a price that seems to good to be true, it most probably is!
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