Am I the only person in here who thinks FF isn’t the best idea?

[Gmoney328]

Seems like this site is HEAVILY slanted toward FF payments only. Seems ripe for a number of issues.

PayPal banned me from accepting FF in 2022 because I was getting so many. The rep told me it’s not a question of IF they will shut you down, but WHEN.

Not to mention the buyer has literally ZERO protection and can also get whacked for sending FF.

The vast majority of sales posts I see mention FF very prominently. This doesn’t bother anyone else?

[Eric72]

Originally Posted by Gmoney328

Seems like this site is HEAVILY slanted toward FF payments only. Seems ripe for a number of issues.

PayPal banned me from accepting FF in 2022 because I was getting so many. The rep told me it’s not a question of IF they will shut you down, but WHEN.

Not to mention the buyer has literally ZERO protection and can also get whacked for sending FF.

The vast majority of sales posts I see mention FF very prominently. This doesn’t bother anyone else?

It used to bother me. There were several cards I would have bought via G&S, even offering to pay the extra 3% or whatever the fees were.

I eventually stopped caring. Don't get me wrong; I still won't send F&F to complete strangers. I just don't get upset these days.

[G1911]

I use F&F all the time here and elsewhere because I don’t think the risk of getting cheated by sellers I usually somewhat know is extremely low and we can just save the 3%. I wouldn’t do it from someone I don’t know with 12 posts, but if they have thousands or I know them, they aren’t going to sink their reputation to cheat me for what’s usually $40. I’ve paid up to $8K F&F in multiple transfers on the honor system, how high you go should reflect the trust you have in that person. I think I did $12,500 via a check with no protection in my largest here. Still never been cheated on a deal. I’d rather send the 3% to another collectors budget than to cover risk for PayPal. 99% of people are trustable with a deal. The remainder are usually pretty obvious to detect as red flags.

[4815162342]

Originally Posted by Gmoney328

Seems like this site is HEAVILY slanted toward FF payments only. Seems ripe for a number of issues.

PayPal banned me from accepting FF in 2022 because I was getting so many. The rep told me it’s not a question of IF they will shut you down, but WHEN.

Not to mention the buyer has literally ZERO protection and can also get whacked for sending FF.

The vast majority of sales posts I see mention FF very prominently. This doesn’t bother anyone else?

There are veteran Net54 members who are friends or have at least known of each other for many years. In a small community like this, trust is earned over a long period of time, and of course it can be destroyed in an instant.

[frankbmd]

Hanging around this site for 14 years and completing more than 1000 deals on BST has established a working relationship with many members. As others have implied, dealing with strangers can be risky regardless of the method used to pay for the transaction. Our Godfather Leon takes a dim view of scammers and keeps a stick ready to whack the occasional member who misbehaves.

That said I have no problem with PayPal transactions and I prefer F&F because of my scotch blood.

[butchie_t]

I’m more inclined to FF here than other places, that’s for sure. However, someone that has a low post count…the spidey senses are on full alert.

Butch….

[ValKehl]

I try to live my life by the adage, "Do the right thing." So, I won't use PayPal F&F when I am purchasing an item, no matter how well I know and trust the seller. I ask the seller to accept Venmo or a check (I expect to wait until the check clears), but if the seller can't/won't, I'll either add the PayPal fee to the price of the item or forego purchasing it. BTW, I'm not looking to judge others.

[jayshum]

Originally Posted by ValKehl

I try to live my life by the adage, "Do the right thing." So, I won't use PayPal F&F when I am purchasing an item, no matter how well I know and trust the seller. I ask the seller to accept Venmo or a check (I expect to wait until the check clears), but if the seller can't/won't, I'll either add the PayPal fee to the price of the item or forego purchasing it. BTW, I'm not looking to judge others.

What's the difference between PayPal F&F and Venmo?

[Gmoney328]

Originally Posted by jayshum

What's the difference between PayPal F&F and Venmo?

You can choose GS through Venmo if you want to.

[jayshum]

Originally Posted by Gmoney328

You can choose GS through Venmo if you want to.

I've only used Venmo a few times and didn't realize there was a G&S option. Is there a fee associated with that like PayPal has? Does it give the same protection to the buyer that PayPal does?

[Smanzari]

I offer both when I sell. From a Personal Buying Standpoint, I have a "cut-off" where I'm Comfortable (even if we've dealt many times), I'll request to send regular PP if its over that point.

[Gmoney328]

Originally Posted by jayshum

I've only used Venmo a few times and didn't realize there was a G&S option. Is there a fee associated with that like PayPal has? Does it give the same protection to the buyer that PayPal does?

It’s very similar.

[raulus]

Can’t say that I’ve lost much sleep over it, but that’s probably because it’s rarely a thing for me. Most of my buying and selling is through AHs or eBay. I might only have 5 or so purchases and sales annually that are offline.

If a buyer wants to skip the PayPal fee and buy from me with FF, then I’m happy to accommodate them. And if they prefer to pay with GS, then that’s fine too, assuming they’re willing to pay the small upcharge.

If I’m buying, I’m only using FF if I have a very high level of confidence in the seller, particularly because most of my purchases offline are 4 or 5 figures, so I’m not willing to take any risk with that much at stake.

[ValKehl]

Originally Posted by jayshum

I've only used Venmo a few times and didn't realize there was a G&S option. Is there a fee associated with that like PayPal has? Does it give the same protection to the buyer that PayPal does?

Same here, Jay.

[Exhibitman]

My go to is Zelle. Same no fee as PPFF without the lying.

[Zach Wheat]

I do the same thing as Val - just pay the extra paypal fees if I use their service. So many people use Zelle that I started using that as well.

[Kutcher55]

Since I got back into the hobby in 2019 I have done well over 1,000 transactions and not been burned once. At least 100 of those have been FF, probably closer to 200-300. Never been burned. It will happen eventually, but still. I just think you need to use your instinct and common sense and you should be fine. If you just communicate with the potential seller and feel them out a bit, chances are high you won't get toasted. One thing about FF on net54. If the seller has a history here of posts and has been on the site for more than a year or so then you should feel comfortable with a transaction. If they have one post and signed up yesterday then it is best to proceed with extreme caution.

One caveat. I have never bought a card for more than $6K or so and I definitely use extra caution when buying cards for 500+. Also I buy exclusively vintage. There are a lot more jokers in the modern space and the risk is considerably higher.

[gunboat82]

I advertise F&F prices when I sell simply to give people the option of saving 3% if they so choose. Otherwise, I'd add the 3% to my asking price.

There's no tax benefit for me because I keep a spreadsheet and report net profits on all sales, including the ones that PayPal doesn't report. That probably puts me in a small minority, given how many threads I see on other sites about tax avoidance.