I’ve been very lucky to have bought some stuff a few years ago and have started selling off parts of the collection to move on to other goals.
However, I got hit with this
I’m providing all the information that I have, but what worries me is they want original proof of purchase for the items. I have it for all but 1 line item (ironically all PayPal transactions except that 1), which I can’t find a receipt or credit card transaction for.
The purchase that triggered it is requiring a tracking number, but I feel like I should just refund their money because I don’t want to be out more than 5k worth of stuff because PayPal wants to hold it for 180+ days.
Has anyone else been in this situation? How did it turn out for you?
Already struggle with anxiety especially during these times, and this doesn’t help much.
Forgery: refers to the false making or material alteration of a legal instrument with the specific intent to defraud anyone (other than themself).[1][2] Tampering with a certain legal instrument may be forbidden by law in some jurisdictions but such an offense is not related to forgery unless the tampered legal instrument was actually used in the course of the crime to defraud another person or entity. Copies, studio replicas, and reproductions are not considered forgeries, though they may later become forgeries through knowing and willful misrepresentations.
In my industry, people make dummy receipts and all sorts of other bullshit where required all the time, usually the paperwork is only used to track expenses. Sometimes original receipts just arent available or issued.
So I am currently in the same situation. I had bought boxes 5 years ago and am now selling some of them. I made a sale for 20k and PayPal froze my account. I was also asked to provide a receipt not older than 6 months for my purchase of the item. Obviously I don’t have one. All you need to do is call them and speak to a representative. I explained what I was selling and they understood that it was a collectible item. I just had to explain that it is not my business to buy and sell on a regular basis. They unfroze my account after a few hours. Of course, yesterday I sold items of about 35k and they froze my account again… so I called them again and explained again and they unfroze my account again. I asked them when they would stop doing this to me and they gave me all kinds of explanations about security. At least I didn’t lose my money. So no need to learn how to make a receipt… unless you want to learn.
At this point why even go with paypal for this much headache. For purchases that big, just do some kind of bank wire transfer, check, or cash if you do not like the IRS.
I’m surprised as well you’re using paypal for sales this large. There are better options with less headaches (from the sellers perspective) when dealing with amounts of this size.
Following. I haven’t made any big sales yet, but as my collection is getting larger and prices are going up it is good to know for the future. Honestly, I was thinking about bitcoin to avoid most of the headache with both buyer and taxes.
That’s a fair point man.
I think that PayPal just has the monopoly to make buyers feel protected and I really want them to be comfortable buying from me.
That said, it’s not incredibly seller friendly for when you’re just starting out like myself.
I’d like to offer an option that protects both the buyer and the seller, to happy to listen to all suggestions.
I think if the buyer and I have a lot of trust and we’ve transacted before then cash or wire transfer makes sense.
It’s typical that they pull this when I’m selling but don’t bat an eye when I buy for this amount!
I’ll update here once it’s resolved!
Having worked on the software side of fraud detection, I’m pretty sure it’s an algorithm that flagged me, but I’m going to call them immediately after I FedEx overnight the package to the guy.
I’m taking no chances and it’s worth the couple hundred bucks for peace of mind.
Are these amounts some of the first sales you’ve ever had with Paypal? You mentioned you’ve purchased before, but have you ever sold? If not and you’re coming in first time guns blazing with a $35k sale, then yea it’s going to trip some alarms.
I’m guessing. My logical brain knows because we set up algorithms to flag suspicious transactions that were more than a standard deviation away from the rest of them (in terms of amount).
Bitcoin is not great for avoiding taxes unless Bitcoin becomes extremely liquidable. All your transactions are public, its just a matter of finding the right IP address. It is a lot of computing work, but unfortunately the Government has a lot of money to do this.
I believe my PayPal account recieved a limitation as well a few months ago and they were asking for purchase receipts, identification, and some distributor info.
I sent them a message in their message center saying the information they were asking for doesn’t exist for the items in question and they removed the limitation the next day.
Like someone said, it is an automated system that places these limits. All you need to do is get a real person to take a look and they’ll probably remove them.
when I’m selling but don’t bat an eye when I buy for this amount!