Hi!

I want to know something ¡'m getting my PayPal Account(personal Account) , and i want to ask, what happends if someone try to Buy a Server from Me (I'm a Reseller) and it results that the Credit Card is Stolen, do i loose my Money ?

From what I know yes. Now I am not totaly positve on it, but if it is stolen you basically lose out.

Not if you have a personal account. Paypal personal accounts cannot accept credit cards. You will need to upgrade to a premium or business account.

Once you have a premium/business account yes you could lose money due to credit card fraud.

Originally posted by Rox Off
Not if you have a personal account. Paypal personal accounts cannot accept credit cards. You will need to upgrade to a premium or business account.

Once you have a premium/business account yes you could lose money due to credit card fraud.

i've heard that if you don't have enough money in your premium/business account to cover chargeback then they will lock your account; otherwise, they can't do anything if you have enough fund to return the money. Therefore don't put the money in your pocket (bank) yet until it's clear and verified.

am i correct ?? :rolleyes:

Actually what happend to me once was that I would get a negative balance. They never locked my account because of fraud.

Originally posted by takiman
Actually what happend to me once was that I would get a negative balance. They never locked my account because of fraud.

are u serious ?it's is frist time that i heard,

If you accept payments from a stolen card, you will definitely stand to lose that money in virtually every single case. You will either be hit on your bank account for the funds or lose your processing privileges - depending on who you are running your transactions through.

Unfortunately, this is one of the risks associated with credit card payment processing. Depending on what you are selling, what your sale ticket size is and where the customer is from, you can manage your transaction risk in various ways by using tools such as AVS (address verification service) and also CVV2 in certain cases.

The only protection that I am aware of for you as a merchant is VISA's "Verified by VISA" program. My understanding is that if the transaction is authorized through this program, then the merchant is protected against stolen card and "that was not me" purchases.

Of course, to participate in the VbV program, you need a real merchant account (Paypal is not) and it only works with VISA cards where the issuer and cardholder participate (pretty much US issuer only and a small percentage of cardholders, but growing).

MasterCard's program is still in its infancy and I'm not sure if it provides the same protections. I'm not aware of any of the other card associates creating their own programs.