Think paypal is guaranteed, but not sure of what the max amount of coverage is. It is about all I will use most of the time, fast (as in instant) and easy. Also use it to transfer money between family members, love it.
When I listed my '40 on EBay the buyer could only use PayPal for the $500.00 deposit. The remainder had to be cash or certified funds. Don't know if it was an EBay or PayPal rule. I think that the scammer is trying to get a mark without a PayPal account to set up one on a fake PayPal account. Regardless if it doesn't pass the smell test, run don't walk away.
Mine was on a cable laying ship, said he was happy with the price for my 46 Ford Chassis and he would send an agent to pick it up. I told him the it had to be in Cash US dollars and his agent could bring the cash and pick up the chassis. He kept insisting I set up a paypal account. I again told him no way had to be in cash US dollars. I had two replies for my chassis using the same tale of being on a ship at sea. Didn't do business with either and still have my chassis.
This is the same as I do, have a separate checking account so no one has access to my savings account. Ebay and PayPal go out of there way to protect the buyer, not so much the seller. I wondering since you have a credit card tied to your account will PayPal automatically withdraw the funds from that?ya..PP is guaranteed...
Okay...so I have something for sale...say a trailer for 1000.00 bucks
Buyer says "I'll PP you the money and me or a friend will pick it up..."
You get the 1K in your PP account, you think all is fine...right?
So,a few hours later, a pickup rolls in to get the trailer..hook it up...trailer gone, what do you care?...You have the money in your account...you are happy!
So, an hour or so later, you go to put the funds into your checking / saving /etc account, and find out the person has file a clain the "the property was not as described"...
Ya, ask me how I know...
So...with paypal, my advice is to open a new checking account for PP trans actions, open a saving account at the same place.
Link you PP to your checking account, not the savings account...so as soon as the money ge's in your checking, transfer to your savings...PP can not withdraw it.
Yes, I am out a trailer...I learned the hard way...trust is BS.