If I buy a domain name from 123 reg without a web hosting plan, then what?

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Got a quick question: If I buy a domain name from 123 reg without a web hosting plan, then what? Thanks for any comment. Second question.. I've taken Paypal payments, in to the thousands of dollars, many times. Once I didn't because I just didn't trust the guy and I had heard that it is possible for someone to pay via Paypal and then somehow not transfer the money. I'm wondering what situation that would be?.

If I'm selling to someone in the forum I can check their trader rating and posts to see if they feel trustworthy. But if I'm simply selling to someone who found me and emailed me, I'd like to know exactly how to determine what is a safe paypal payment and what is not. Someone once told me that I have to require that the party pay via Pyapal with an echeck, otherwise I could get screwed..

Could someone please clarify all this for me and tell me how to know when a Paypal payment might not be 100% secure, and when it is? Thanks...

Comments (9)

Good question... I dunno what is the right answer. I'll do some Googling and get back to you if I got an useful answer. You should email the people at 123 reg as they probably could give you help..

Comment #1

Have a look at PayPal MassPay. The sender has to have cleared funds in their paypal account so cannot do a chargeback via credit card etc..

I know a few large wholesalers who take this payment method in large quantities ($5000+) and have never had any issues..

At the end of the day you need to have some trust in your buyer if you are accepting large amounts of money...

Comment #2

If some random person emails you and is going to pay thousands of dollars for your domain, you should be using an escrow service, anyways...

Comment #3

I take paypal payments from Known buyers, but I also put trust in several others with Verified Paypal accounts. This seems to help as well, but it's always best to use Escrow if you have any questions about the buyer..

Another thing that I wanted to mention, is with "Digital Items" (Domain Names) paypal does not do refunds of any kind? which would make me think, paypal would not allow a chargeback on a HostGator name?.

With Mass Pay, it is also nice, because the person getting the money, does not get hit with any fee's. The sender pay's $1.00 to do a Mass Pay. (I love this feature and never hurts to ask your buyer to use it) Companies like NameDrive, Sedo use it for when they do payouts, that's why you get a full amount with no fees...

Comment #4

No payments from PAYPAL are 100% Secure .....

Between chargebacks as mentioned above - And Them using Fraudulent funds or possibly using a Stolen account .... As a few have said already - "Available Cash" is the safest , But even then it's not 100%..

The Chargebacks are generally Done from the Credit Card companies associated/linked to the PP accounts , Not directly done by PP itself..

Use it as Jamie(Yofie) said ,mainly with people you know - Or people that have no problem verifying their identity somehow. I Generally try to only use it for lower amounts (250 - 500$) but have accepted several thousand from people I already trusted...

Comment #5 is not that expensive, so you should use it whenever you have doubt...

Comment #6

That's not true. Paypal does have a seller guarantee and if you follow their policy they will honor it...

Comment #7

Just use an e-check and wait for it to clear. I believe that is close to 100% secure, after the check clears...

Comment #8

This is old-fashioned of me, but I like to ask for a physical address and associated phone number. In other words, it can be business or personal, but I want the address that shows up in the PayPal payment to return a phone number in the phonebook, and my to be able to call that number and speak to the buyer..

Makes me feel all warm and fuzzy.


Comment #9

You heard it wrong. Money is actually transfered into your paypal account. The problem is that paypal might take back that money from your paypal account or if there is not enough money they will take it from your bank account, of course without asking for you..

It works very simple really..

1. The guy pays you..

2. You send the item..

3. the guy calls his CC company and issues a chargeback. Most likely he will say he was charged but he didn't get any item..

4. CC company forwards the issue to paypal..

5. paypal takes the money back from your account and sends back to the CC account that was used for the payment. Paypal never investigates anything. If they get any inquiry from any CC company they just bend over..

In some cases you could be protected if, 1. you have send the item via online trackable courrier and you can provide a tracking number and URL & 2. the buyer is paypal verified. Unless both conditions are met, you can always face chargebacks up to 6 months later you got paid...

Comment #10

This question was taken from a support group/message board and re-posted here so others can learn from it.