Here's an idea

[05 Busa LE]

Having seen some issues with people being scammed on PayPal (sorry for you .Org guys and gals), maybe one of you entrepreneurs out there could start "ExchangePal." One has parts (or whatever) and the other has money ... send them to the "Exchange," and they act like a secure broker. Money doesn't go to the seller until the part is received and inspected to be what was represented. Any issues? The broker contacts everyone and gets it resolved. Now there's a million dollar idea for someone ... for free.

 

[Wrath]

typically if your paypal account is attched to a credit card, you have the ability to have your account credited back. Also the merchant is then held liable & can be prosecuted. Only draw back is that there is time & effort wasted meanwhile.

 

[BiG-T]

Good idea....it has been mentioned and pondered before but no one stepped up to the plate. No one wanted to handle that responsibility.

Are you up to the task?

 

[heavybusa]

Its a good idea, but there is a lot of liability as the "broker" will have to prove the truth (something courts cant do)

I can only imagine the fees involved would be outrageous.

Credit card companies have options to protect the buyer, but this is a long involved process.

 

[steelhead]

05BusaLE,

You mean escrow?

 

[Wag]

There are (online) escrow companies out there which do exactly this.

--Wag--

 

[05 Busa LE]

(steelhead @ Oct. 20 2006,04:58) 05BusaLE,

You mean escrow?

Yep ... exactly .... You guys are more experienced at this than me! SH and Wag, any that you've dealt with for internet transactions? And what kind of fees? Thanks.

 

[extreemachine]

I have never used an escrow company. They usually charge too much. WHen you buy something you are looking for the cheapest price and then to add on more money and time for an escrow company. I never tried it. They have too many things that they won't cover. ELectronic items and such. Say you wanted to buy a TRE for your Busa, they can't test that and see if it works. They can tell you the physical condition but not if it works. Escrow companys have been around for many many years. Paypal needs some competition but right now there is nothing out there that is even in the same ball park as them. EVeryone has heard of paypal, most have it now a days. They have the internet money exchange locked up. But I keep hearing more and more stories of people having problems losing there accounts, getting scammed, etc.. Another big company will step up eventually and use there name to start up the same money laundering process as paypal/Ebay have going.