PayPal will now exclude Gold from Buyer/Seller protections

[Pete]

3 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.

Yes but after reading this I am confused -

Notice of amendment to the PayPal User Agreement

Effective Date: Apr 27, 2017

 

11. PayPal seller protection
    Section 11.10 is amended in order to outline that the following items/transactions/cases are ineligible for PayPal seller protection:

1. Payments made in respect of gold (whether in physical form or in exchange-traded form); and

12. PayPal Buyer Protection
    Section 13.4a is amended to exclude the following types of transactions from coverage by PayPal Buyer Protection:
    
    b. payments made in respect of gold (whether in physical form or in exchange-traded form); and
    
    
    The amended section 13.4a now reads as follows (with added wording underlined):

“13.4 Conditions for reimbursement

You may be reimbursed under PayPal Buyer Protection for a problem with a purchase only if all of the following requirements are met:

a. Your purchase is an eligible purchase. Purchases of most goods and services are eligible (including travel tickets, intangible items such as rights of access to digital content and other licences), except for the following transactions: 

16. payments made in respect of gold (whether in physical form or in exchange-traded form); and

 

[sovereignsteve]

Seems clear to me. Paypal state that gold is inelligible for both seller and buyer protection.

However, Ebay, which is a different company say it is included in their buyer protection policy. Whether they will protect sellers, I'm not sure but I doubt it.

[arshimo2012]

2 hours 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

I think he opened the seal packaging  that's why didn't get protection 

[danmc82]

It does beg the question of why he took it to be checked in the first place

[SilverSniper]

There must be some wriggle that the con-artists are using, otherwise PayPal wouldn't be removing it from their protections.

[SilverSniper]

4 hours ago, sovereignsteve said:

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.

Must remember that PayPal doesn't only work with eBay.  

[Pete]

Judging by the large volume of eBay trades in gold coins I am surprised these new terms haven't hit some headlines somewhere.
Mind you I guess very few people ever read the small print.
Buyer / seller protection is well promoted so perhaps there could be a legal challenge in the pipeline ?
How could a seller or buyer have confidence in the near future selling / buying an expensive coin or gold coin set ?

[Goldmick]

I phoned paypal today worried about some coins I won last night I have not got them yet but they said I was covered by the seller's protection they might be OK they were  £415 and should be with me by Friday they said nothing about seller protection going soon if it does stop 27 this month I'm still OK I think is this right do you think it's when you make a claim cos I could say I won them before the 27 th 

[lightjaw]

This is why a place like this forum is even more Important. Somewhere where trusted people can buy and sell to each other.

[Pipers]

This is down to the fraudulent sellers not anyone else.  If you are sent a fake coin ETC you are going to make a claim, the fact is because of sites like this more buyers are able to tell if a coin is fake!

PayPal have made a business decision, they are no longer able to insure Gold claims, this is worrying on more fronts than whether one can buy a coin from Ebay, it suggests that large amounts of fraudulent  activity have been occurring, or PayPal have been leaned on by a Government to deter people from buying Gold.