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PayPal will now exclude Gold from Buyer/Seller protections


SilverSniper

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PayPal has just announced an update to their user legal agreements.  Some points to note:

  • Gold will now be specifically excluded from the buyer and seller protections.
  • Cross border sale fees are being increased.
  • Clarifications on fundings sources.  i.e. linking, default, preferred, limitations, bank transfers and card information.
  • Lifting limits.
  • Risk of Reversals, Chargebacks and Claims. In relation to PayPal's role and their fees.
  • Closing accounts.  In relation to terms, and responsibilities.

Full details here:

https://www.paypal.com/uk/webapps/mpp/ua/upcoming-policies-full?locale.x=GB

Comes into force 27th April 2017


 

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Thanks for reading the small print for us :) 

Due to this we will be ceasing to offer Paypal as a payment method on our website, they will certainly be loosing a reasonably sized account from us. 

It will be interesting to see the implications for sites such as Ebay, also there is no mention about silver?

 

Bleyer Bullion is the South West's local bullion dealer, serving the whole of the UK by phone and online. Bleyer offers friendly, expert consultancy and welcomes face-to-face appointments with UK customers looking for a more personal service. Please visit us at: www.BleyerBullion.co.uk.

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They will be loosing huge accounts from jewellers too I suppose 

Bleyer Bullion is the South West's local bullion dealer, serving the whole of the UK by phone and online. Bleyer offers friendly, expert consultancy and welcomes face-to-face appointments with UK customers looking for a more personal service. Please visit us at: www.BleyerBullion.co.uk.

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No more buying / selling gold coins on eBay I assume ?
Sounds as if there have been too many claims and that's perhaps the fault of eBay in allowing bogus sellers and fakes to be listed despite so many reports to them.
Silver next perhaps ?

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This will make buying gold on ebay more of a minefield and will force buyers to use only well established sellers with exemplorary reputations. Assuming, of course that these sellers will still be there. It all depends on how ebay play it. Will they still insist on sellers offering paypal? Will they offer their own sellers protection system?

I can see it going like Germany where many sellers will only accept bank transfer, but will the buyers go down that route?

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On 2/2/2017 at 16:08, Daniel said:

Thanks for reading the small print for us :) 

Due to this we will be ceasing to offer Paypal as a payment method on our website, they will certainly be loosing a reasonably sized account from us. 

It will be interesting to see the implications for sites such as Ebay, also there is no mention about silver?

 

 
 

For your own website consider WordPay .... their reps have been hounding me lately.  They also offer buyer/seller protection, but I've not read the small print yet to see if there are any exclusions.

http://business.worldpay.com/lp/Merchant_Services_Brand

Obvs no good with eBay though.

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On 04/02/2017 at 12:45, SilverSniper said:

For your own website consider WordPay .... their reps have been hounding me lately.  They also offer buyer/seller protection, but I've not read the small print yet to see if there are any exclusions.

http://business.worldpay.com/lp/Merchant_Services_Brand

Obvs no good with eBay though.

We are already established with a different merchant bank, it was just nice to have the second option of Paypal for those people that prefer to use it.

Bleyer Bullion is the South West's local bullion dealer, serving the whole of the UK by phone and online. Bleyer offers friendly, expert consultancy and welcomes face-to-face appointments with UK customers looking for a more personal service. Please visit us at: www.BleyerBullion.co.uk.

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1 hour ago, shortstack68 said:

Ebay protection is only for the buyer, not when the seller can also get ripped off. Just last week my GF sold something on ebay and forgot to upload the tracking, the buyer decided that she'd try her luck and opened a case against her for non receipt, after checking the tracking number the receiver had actually signed for the item 2 days previous to her opening the case, these sort of people should be banned 

I had the same experience, albeit I did upload the tracking and the buyer was insistent that they never received it.  I enjoyed sending them a photo of their own signature, and politely reminding them that I had their address if they wish to continue trying it on.  Positive feedback was duly received a few minutes later :P 

 

But this lack of coverage is worrying.  eBay is so geared towards buyers now that scammers operate with complete impunity.

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1 hour ago, shortstack68 said:

Ebay protection is only for the buyer, not when the seller can also get ripped off. Just last week my GF sold something on ebay and forgot to upload the tracking, the buyer decided that she'd try her luck and opened a case against her for non receipt, after checking the tracking number the receiver had actually signed for the item 2 days previous to her opening the case, these sort of people should be banned 

 

 

On 2/2/2017 at 14:33, Numistacker said:

I assume that eBay gold sales are covered by eBay seller protection?
 

 

From my personal experience, when eBay does refund you they do so via eBay credit ..... much the same as a store credit.  Which is ok if you want to spend the credit value on another eBay purchase, but not good if you wanted your money back.  

It may not be the same in all cases.

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4 hours ago, shortstack68 said:

Ebay protection is only for the buyer, not when the seller can also get ripped off. Just last week my GF sold something on ebay and forgot to upload the tracking, the buyer decided that she'd try her luck and opened a case against her for non receipt, after checking the tracking number the receiver had actually signed for the item 2 days previous to her opening the case, these sort of people should be banned 

Yes I meant buyer protection. I thought that is why they insisted on paypal so that they could easily recoup the money from the buyer.

My only experiences of buyer protection involved my having the paypal transaction refunded.

I didn't realise ebay would take the risk themselves.

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  • 2 months later...

Has anyone contacted eBay or PayPal to check gold coins would not be protected either seller and /or buyer ?

Reading the new policy it is kind of vague.

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16 hours ago, Pete said:

Has anyone contacted eBay or PayPal to check gold coins would not be protected either seller and /or buyer ?

Reading the new policy it is kind of vague.

Ebay are still saying you're guaranteed to get what you paid for and there's no mention of gold or PMs in the exclusions.

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2 hours ago, sovereignsteve said:

Ebay are still saying you're guaranteed to get what you paid for and there's no mention of gold or PMs in the exclusions.

Does that mean the person who bought the fake 5g Pamp bar is pulling a fast one? He said he had no protection :blink:

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4 minutes ago, danmc82 said:

Does that mean the person who bought the fake 5g Pamp bar is pulling a fast one? He said he had no protection :blink:

I've no idea, it's a confusing mess. Ebay say one thing and paypal another. It will probably be wise to be super careful buying gold for a while until it becomes clear.

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Irrespective of what ebay/paypal says, surely distance selling regulations apply?

Only applies to business to private sales.
Does not apply to business to business or private to private sales.

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