Waiting for Paypal


Normally I don't sell to those with no feedback on Audiogon or eBay, but occasionally I make an exception. Once the paypal account shows that I have the money from the buyer, I request a check immediately. Is there a safe length of time to wait before I ship the item? Is it safe to ship once I receive the check from Paypal? My bank account is linked to Paypal. If there is a default later on, can Paypal pull the money back out of the bank account even if they sent me a check in the mail instead of direct deposit? What would you do? Thanks.
tgrisham
Usually I wait to ship until paypal posts to my account. Paypal cannot take money out of my money market even in the event that I am wrong since I set it up with my bank. I transfer the money from savings to money market then ship. I also tie a credit card to it. All someone has to do is to hack into your paypal account and add a couple of fake addresses then buy something and have it sent there (like a vacant lot) the post man will take it back to the local post office then the crook will try to pick it up. I had 1674 taken from my bank account (I did not have the time to transfer it into my money market) but my bank got the money back pretty quickly. I do feel sorry for the merchant that was out the money for the 2 items purchased by the crook. Paypal told me that they would prosecute the person once they traced them, but would not help me find out who they are so I could sue them due to privacy rights. Can you beleive that s--t! I guess they want their money so badly that they wouldn't even help out the merchant. Like Elizabeth, use your credit card company if using paypal. Also check out paypalsucks.com I know I'm sometimes controversial if I don't beleive that certain tweeks or upgrades work, but for everyone that IS honest, be careful!
Thanks. I had set up PayPal with my bank checking. I can set it up again and then delete the account once Paypal records the payment. Then have PayPal send me a check. I will have to ship it first. I've used U S Postal money order. But, my local PO only has so much $ on hand. Anyway, thanks for everyone's input.
Tgrisham
A solution to the USPO money order cashing problem is to cash for what the teller will give in cash and BUY ANOTHER USPO money order for the rest.
Since YOU bought it you know it is good, and can just deposit to your own checking account.
(Banks take USPO money orders just like any check)
So for $1 or so you can cash the money order from the buyer and know immmediately it is good, and get part of it cash up front, then re-money order it as your own money order for your own bank.
I have done this and was perfectly happy with it.
Many financial institutions, including mine, have been burned by fake Postal money orders and put an inordinantly long hold on them. Basically if the MO comes back as fake after presented to the counter party, which can be weeks later, you are on the hook, as is the case with personal checks, certified checks, etc.

Your first suggest, presenting to the USPS, is best, since they can verify that the MO is legit and you walk out with your cash or new MO.