PayPal For Dummies

Chapter 3

Protecting Yourself

In This Chapter

• Protecting yourself when purchasing online
• Understanding how PayPal protects you as a buyer
• Deciding what to do when you have a problem
• Utilizing strategies for selling smart
• Comprehending PayPal's protection for sellers
• Working with buyers from “approved” countries
• Reporting problems

Imagine the following scenario. You're walking along a crowded city street, and you notice a man selling watches that are displayed on a folding table. On closer inspection, one of the watches appears to be a Rolex! Savvy bargain hunter that you are, you ask how much the watch costs and are very excited to learn you can get a “genuine Rolex” for just $100! Opening your wallet, you hand the man five twenties and walk off the proud owner of … well … total junk.

After you get over your anger and disappointment, what's your next move? Do you go to your bank and demand reimbursement for the $100 you lost because you bought a fake from a disreputable vendor? I don't think so! But many people would expect PayPal to provide reimbursement if they bought the fake Rolex from an online auction.

In fact, PayPal does offer you a certain amount of protection from disreputable sellers, but you need to use common sense when purchasing online. Not to be a cynic, but if it looks too good to be true, it probably is too good to be true.

Protecting Yourself As a Buyer

Protecting yourself as a buyer starts with using the same common sense you use to protect your identity ...