Need Info About Paypal

[kyutip]

I am about to receive a payment via paypal with credit card for around $525.
Is there anything that I should watch out for?
Because I hear that some people only accept paypal with cash.
Anybody can give me a reason why I shouldn't accept papypal with credit card?

 

[stonerdave]

Yeah, I got one...if the credit card the payer uses is stolen, paypal will freeze the payer's account...and yours.

Although this is somewhat unlikely to happen (I did about 30-40 withdrawals from my account since June with no problems), someone claimed it happened to them in the hot deals forum. Let me see if I can find that thread for you...

edit// Okay, here's the thread...

http://forums.anandtech.com/messageview.cfm?start=1&catid=40&threadid=245535

Basically, the moment you have the cash in your account, take it out.

 

[Daniel]

Yep I don't like to leave money in there for any amount of time, a few days at most but it all goes
right into the bank acct.

 

[kyutip]

Thanks stonerdave for the info!
So basically once I got the money, I should get paypal to send me the checks ASAP, right?