My New Paypal Liquidation Account

sdot10 · #1 02-04-2008

Posted that I was going to do this a few days ago and didnt get much forum response but quite a few PMs.

Ive basically set up a account with paypal that I will use to sell Greendot cards. They should be here any day now but the paypal account is set up and ready to go.

To "cashout" there will be a 12% fee added to the amount IE. You want a $500 greendot card, it will cost you $560 etc. This covers everything (shipping, insurance, and fees). I will try to introduce discounts for repeat buyers, references and such. Can cashout up to $1000 right now. If the mods want to try first and vouche id appreciate it.

There are a few rules.

1. You must be verified (very easy everyone knows how to do this)
2. Upon receiving of card you must provide feedback asap
3. No unauthorized sending (dont send me $560 and then email me saying hey send me a $500 card)

ebayhateluv · #2 02-04-2008

HI:
Couple things;

a.) I think it would be appropriate to get Aspkins Approval first... (He will be back in a couple days)
b.) How are folks gonna send you $500 without having their pp accts go down doing it??
---Maybe Im missing something??
+++ Green Dot requires a SS number to register the card, correct?
Thank you...

sdot10 · #3 02-04-2008

a) Yeah I said in my post one of the mods would need to vouche for me.
b) The problem seems to be with getting the money out. As we have seen with the walgreens cards you can buy things and paypal cant really stop you. Its more of a risk for myself more than you all. Thats why im requiring validation as well as give me feedback as soon as you receive your card.

Greendot does require a SS# but its better to give it to them when you can repeatedly cash out and have the money rather than with paypal who once they have it you can never use it again.

coolandcalm · #4 02-04-2008

Yes ebayhateluv i would like to know the answer to these questions too. I know greendot required a ssn now to register the card, this is for the reloadable prepaid card. I dont know if they sell gift cards, maybe he is talking about gift cards? Also it seems he is going to list them on ebay, have you buy them and pay with paypal and he will only ship to confirmed address or something.....will wait the response to your questions

coolandcalm · #5 02-04-2008

sdot10 to elaborate a little more on this subject, i have used greendot and might be best to check with them to see how many cards you can register per ssn#. Or perhaps you can offer the "MoneyPak", which you buy at CVS, Kroger, Walgreens to reload a card. Dont know how this might fit in your plans

Jonas · #6 02-04-2008

Postal insurance doesn't cover things like cash or gift cards usually. I think registered mail might and if you do it that way then likely you'll want to do it registered mail + restricted signature.

sdot10 · #7 02-04-2008

I think the greendot cards are the best choice. Also looking at the netspend ones.

I originally thought of doing visa gift cards but that takes away the option of an atm and receiving cash. If you want a gift card i can also do that.

Do not think i am selling on ebay. I may eventually but considering people dont pay retail for things on ebay I would loose lots of money doing it that way. I may put some up in the future with a buy it now and allow you purchase. This may cause problems if paypal looks however because they may want to know why someone is paying $560 for a $500 gift card. If I just sent a flat out invoice they would never know.

sdot10 · #8 02-04-2008

Quote:

Originally Posted by Jonas

Postal insurance doesn't cover things like cash or gift cards usually. I think registered mail might and if you do it that way then likely you'll want to do it registered mail + restricted signature.

basically for paypal i just need a service that will allow me to show a tracking number

sdot10 · #9 02-04-2008

Quote:

Originally Posted by coolandcalm

sdot10 to elaborate a little more on this subject, i have used greendot and might be best to check with them to see how many cards you can register per ssn#. Or perhaps you can offer the "MoneyPak", which you buy at CVS, Kroger, Walgreens to reload a card. Dont know how this might fit in your plans

I dont plan on registering them with my SSN I can load them and send them, if you already have a card i can def just load money on the moneypak and send the same way.

coolandcalm · #10 02-04-2008

Ok, so you dont plan on selling them on ebay, you would just send us a service invoice, we pay it and BINGO you send us the greendot card or Moneypak if you already have a greendot card. The big question is what are the chances your paypal is gonna get limited, because you could very well have alot of money flowing into your paypal by doing this.

sdot10 · #11 02-04-2008

yeah i know this.

1. I have never given paypal my actual real info.
2. I registered with the irs for a ein which i would use if they asked for info
3. I plan on shipping very promptly and always having a tracking number ready
4. I am going to print EVERY email, receipt and everything i ever get from paypal and knowing what i know now. I can pretty much get my account unlimited by making a few threats and knowing most of what paypal can and cant do.

coolandcalm · #12 02-04-2008

Ok it sounds good, i will wait for aspkin's approval on this forum to try it and report back so other members will know it is legit....i dont think there is anything ebay or paypal employees patroling this forum can do about it...LOL

sdot10 · #13 02-04-2008

Quote:

Originally Posted by coolandcalm

Ok it sounds good, i will wait for aspkin's approval on this forum to try it and report back so other members will know it is legit....i dont think there is anything ebay or paypal employees patroling this forum can do about it...LOL

there isnt. i full expect to get limited on the first or second transaction if i try to move out all the funds. if i do ill let you guys know to hold off for a few days then ill continue.

I mean what can they do. Im selling a gift card im providing tracking information and youre giving me good feedback as item received.

coolandcalm · #14 02-04-2008

Your right, you are less likely to get hassled since its not linking ebay sell to your paypal. You might consider a website, to add to your enhanced sense of legitimacy.

sdot10 · #15 02-04-2008

Problem with a website is what do i put on it. I cant put get your greendots cards here haha. As far as paypal knows "i sell gift cards" there are so many sites where people sell gift cards and such that its not that crazy an idea that i bought a $560 gift card for $450 and now im selling it to this guy for $500.

coolandcalm · #16 02-04-2008

Your right, maybe leave out which gift card you are selling, just sellin gift cards...no big red flag there

Jonas · #17 02-04-2008

Why would someone pay $560 for a $500 greendot card when they could get it for less?

sdot10 · #18 02-04-2008

read the post

**aspkin** · #19 02-05-2008

It's risky business for both the buyer and seller sdot10.

I think it would better if you had a website to process orders, a simple one to make you look more legit. And also a merchant account like Merchant Plus for payments. This would probably make you and the buyer feel a little safer.

PM with more info on this please.

sdot10 · #20 02-05-2008

Quote:

Originally Posted by aspkin

It's risky business for both the buyer and seller sdot10.

I think it would better if you had a website to process orders, a simple one to make you look more legit. And also a merchant account like Merchant Plus for payments. This would probably make you and the buyer feel a little safer.

PM with more info on this please.

will PM you in a few.