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MarkW

Member
  • Content count

    22
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  • Country

    United Kingdom

About MarkW

Profile Information

  • Gender
    Male
  • Location:
    Coventry
  • Stacker/Collector:
    Stacker
  1. The cases I read about where PayPal's seller protection failed to cover the seller involved the recipient of the item claiming that the item sent through was not as described. In one case, the buyer took delivery of a brand new phone, claimed the item was not as described and sent a knackered old phone back to the seller at which point his money was refunded. New phone, money in hand! Great deal. After a bit of reading about this scam it seems this seller was not alone, and others have also been left empty handed and unable to use Paypal seller protection to retrieve their money. A platform that requires the item and the money to be sent to a third party for inspection before exchange might be a way to avoid such scams but it would be difficult providing this kind of service for a reasonable fee.
  2. Haha, get thee behind me Satan 😂
  3. Well yes and no. PayPal is more of a platform for making a wide variety of payments directly into other people's accounts. I was thinking more along the lines of a very specific tool which would focus on a safer payment system for goods, (non reversible transactions etc) where money is paid into a holding account and sent to seller upon receipt of goods as opposed to being directly paid into a user's account. But perhaps if it were possible to set something up which meant it were impossible to perform chargebacks and bank transfer reversals etc, it would have been done already?
  4. Ah yes very true, it's transfer of risk currently. I see a gap in the market here for an online payment system that removes risk for both buyer and seller .... for a small (but increasingly inflating) fee 😁
  5. I appreciate the information, thank you. I guess there will almost always be little loopholes that can be exploited by someone hell bent on operating online payment scams, but bank transfers do seem like the best option in terms of limiting exposure to a potential scam.
  6. Ah ok, but perhaps more difficult than say a standard charge back on a credit card?
  7. Hah! Well my sister works for the Wing Wah so I'd have access to the CCTV footage, should be easy to spot a shady character with a silver glint in his eye 😜
  8. Thanks Roy, I'd like to say I did it on purpose to see how sharp the community was when faced with a potential scammer but sadly I just forgot my forum etiquette 😅
  9. Thank you both for the advice, much appreciated
  10. Hi Roy, I purchased some Silver Koalas from GoldSilver.BE after a fair bit of reading on this forum about a month ago, hence the reference in my first post here regarding the useful information I had gleaned regarding purchasing. After further browsing of the forum I have gained more of an insight into the various avenues one can go down regarding Silver collection/stacking and would like to free up a little bit of money in order to expand my collection in other areas - a wider variety of coins. My apologies for diving straight into the trading section with no reputation and a relatively expensive item for sale. As with my first purchase of silver, I have been a little over enthusiastic!
  11. for sale

    That's very understandable and I fully appreciate your concern about new members diving in to the trading section with expensive items for sale! If an established member is interested in purchasing I would have no problem sending the coin before payment. Thanks for the information
  12. Hello all, Im Mark from the Midlands (Coventry), new to precious metals but looking to invest in some Silver. I have already gleaned lots of useful information from here regarding purchasing etc which has been a great help, so thanks to all who contributed! Looking forward to getting a bit of a collection started. Cheers! Mark
  13. for sale

    Yes I completely understand that this method shifts all the risk to the buyer. I am hoping the more experienced members of the community will help me with some suggestions as to the best method to use. I have posted my question in the silver forum. Thanks for the feedback both.
  14. for sale

    I understand what you are saying. I have appealed to the community for advice regarding the best way to take payments for coin sales online and will update this sales post accordingly should I receive advice on a better way to transact.
  15. Hi all, Just wanted to ask how people take payments if they are selling coins online? Have read a fair few stories of people being subject to chargebacks via online transfers and even using PayPal. In a number of instances I read about, PayPal's seller protection policy was not sufficient to cover the seller and prevent the credit card company from successfully reversing a payment, leaving the seller empty handed I have a coin listed for sale on this site currently and have specified that I would like a cheque payment, with the coin being posted out once the cheque has cleared. The obvious problem with this method, is that it shifts all the risk to the buyer. So, experienced traders, please impart your wisdom and knowledge Cheers! Mark