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Thread: How to accept large sums of $$ online?

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    Default How to accept large sums of $$ online?

    Hello,

    I have a small little problem. I'm selling my buddy's Xbox live account for a large amount of money, $700. Some dude is paying so much for it because my friend is a professional in MLG. I know it's stupid but whatever. The problem is that I can't find a way to accept such a large sum of money online. I'm pretty sure paypal is a bad idea because of buyer protection. After I give him the account he could just claim his money back and never give me my account back. Can anyone think of a good way to get the money while protecting myself? I also want to confirm that the guy isn't paying with any stolen funds. Thanks.

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    Senior Member Nermy2k's Avatar
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    Just get him to snail mail you a money order.

    edit: if he refuses it's probably a scam.

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    Senior Member ephekt's Avatar
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    You're going to have to find some way to do escrow. Paypal is probably the best bet for both of you.

    After I give him the account he could just claim his money back and never give me my account back.
    There is no magic "gimme my money back" button. The buyer would have to file a complaint, Paypal places the money on hold and you each have to send in documents etc to make your case.

    Isn't there a way you can allow him to login to the account to verify, but still have access to the email/secret questions to recover it? I'd assume so... You should be able to hold this until payment has cleared and been transferred out, then allow him to change the email over to his.

    Quote Originally Posted by Nermy2k View Post
    Just get him to snail mail you a money order.

    edit: if he refuses it's probably a scam.
    I'd refuse this out of simple principle, as I assume most reasonable buyers would. There's no way the buyer can ensure that he'd actually get the account once the OP received the money. He may be on good legal footing, but there's no reason to throw $700 out there like that in the first place.

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    λεγιων ονομα μοι sycld's Avatar
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    How would you escrow an XBox Live account? Or rather, how would you find a neutral third party that both the buyer and seller can trust who would also be willing to do this?

    Quote Originally Posted by ephekt View Post
    He may be on good legal footing, but there's no reason to throw $700 out there like that in the first place.
    Is he? Well, does buying and selling XBox Live accounts violate its EULA?


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    If buying and selling LIVE accts is against the terms and conditions. Dont use Paypal.

    Beleive it or not, there pretty much is a "gimme back my money button"

    I had a friend sell a WoW acct and use my PP acct since it was confirmed. The guy almost instantly reversed the payment. PP held the money, but ended up giving it to him. Luckily we got the acct back.

    If selling LIVE accts is the against the ToS then I assume PP would do the same to you as they did to me if he reversed payment. Its stupid easy to scam people on PP. I dont even use it anymore unless its with a legit business or someone I trust.
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    Cash4Gold is the answer.

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    Senior Member ephekt's Avatar
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    Quote Originally Posted by sycld View Post
    How would you escrow an XBox Live account? Or rather, how would you find a neutral third party that both the buyer and seller can trust who would also be willing to do this?
    You wouldn't put "Xbox Live account lol" in the description field, obviously. I explained how he could do it by retaining the email/secret questions until the money cleared.

    I agree that Paypal isn't the best option, but I am unaware of any other decent way to do this while protecting both parties.
    Is he? Well, does buying and selling XBox Live accounts violate its EULA?
    Regardless of whether or not selling a Live account is against their EULA, the buyer could still have a case for theft.

    If buying and selling LIVE accts is against the terms and conditions. Dont use Paypal.

    Beleive it or not, there pretty much is a "gimme back my money button"

    I had a friend sell a WoW acct and use my PP acct since it was confirmed. The guy almost instantly reversed the payment. PP held the money, but ended up giving it to him. Luckily we got the acct back.
    This is exactly what I meant. Even if the guy tried to rip him off, he'd still be able to recover the account via email.
    Last edited by ephekt; 07-21-2009 at 03:13 PM.

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