QUESTION: I’m interested in selling used books on Amazon and eBay to supplement my retirement income. But I’m worried about giving my credit card to Amazon and PayPal, even though I buy books from online booksellers through Amazon all the time. I cannot jeopardize my life savings in any way.
ANSWER: I can understand the concern, and I felt exactly the same way when I started bookselling. However, I’ve earned my living from deposits to a regular checking account from Amazon and PayPal thanks to my bookselling during the past six years. I’ve never had an unauthorized deduction to my account from PayPal or Amazon, and I’ve never heard a story of this happening to anyone else. Sure, there is a customer every now and then who might try to cheat you. But looking at the big picture, there are U.S. consumer-protection laws against unauthorized charges to bank accounts and credit cards. So you can report any bad transactions to your bank, if it ever comes to that.
You could probably gain some peace of mind by setting up a separate bank account to collect your deposits from the bookselling, and transfer the funds periodically to your personal account. This is a worthwhile thing to do anyway, so you can keep your business and personal funds separate.
The biggest danger to online sellers, I think, is with hackers and “phishing” e-mails that ask you to “update” your account information, and give a Web link for you to follow. These are always fraudulent, and a scammer can gain access to your accounts if you give your password. The only thing you have to remember is, never follow a link in an e-mail that supposedly takes you to eBay, Amazon, a bank, or anywhere else you need a password. Instead of following links, open your Web browser and type in the address yourself.
Phishing isn’t unique to online selling, of course — everyone with an e-mail account receives this junk. But some of it can appear legitimate, so keep your guard up. Here is more information on fraud prevention from Amazon and eBay.
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5 Comments
I had an account with ebay a few years ago and sold a lot of books. I am currently getting back into it. I never had a problem with payments, just the occasional book that seemed to get “lost” in the mail. Good Luck
If you want to sell on Ebay you NEED paypal. About 90% of all Ebay customers use it, and if you do not offer it you are shooting yourself in the foot. They are very established and reputable, just make sure you don’t fall for any fake emails which say “dear customer” instead of “dear Your Name.”
Sell with Paypal, or Do not sell at all!
Eric Ebay Selling Guide
Invest another 60 cents in Delvery Confirmation [US Post Office] on every item you sell
Delivery Confirmation is only 14 cents if you print your labels the USPS’s free Shipping Assistant software.
You still have to stand in line and pay the postage at the PO, but you get discounted DC on Media Mail and First Class packages and free DC on Priority Mail packages.
Dont worry about delivery confirmation if you ship with Amazon. DC does not prove a book arrived it just shows ou shippe dit. If I ever have a problem with Amazon I provie a scan of my receipt, case losed.