Paypal - credit card question
 

When buying online and in the flesh does using paypal A) transfer money instantly and verifiably like a bank transfer? B) Does it retain any of the protection that using a credit card for purchases offers if used in a purchase rather than transfer manner?

Hope those make sense. Just some thoughts as I hate carrying cash.

Yes.. And yes (assuming the money came from a credit card in the first place)

Yes instant, and Yes verifyable, but Paypal are more likely to side on the buyer during a dispute so it makes it a lot less reliable for sellers, eg:

If you are on the receiving end of the paypal payment and someone is collecting MAKE SURE you get them to sign something to say that they have collected the goods in good condition.

Otherwise they can complain to Paypal that they never received the goods, you have no 'proof of purchase' and Paypal will in almost every case reverse the funds in their favour....

Paypal also charges the recipient fees, so expect someone to put 3% on top of any amount you're trying to pay, where BACs is typically free.

Note most banks do instant BAC's transfers now, so the days of waiting 3 days are mostly over.

Because of my first point, and the fees involved, Paypal is very rarely accepted in any sort of car transaction in my experience. I definitelyt wouldnt take it, given the number of things that could cause the transaction to fail (After the event) and the larger amount of money involved.

Cash is still king in the sub 10K car market imo if you're buying privately.