With PayPal, you can tell it the money is for friends or family and there won’t be any fees, nor will it get reported to the IRS. However, you lose any purchase protection when doing that.

It looks like Zelle isn’t going to report to the IRS, at least for now. Source: https://www.nbcnews.com/news/amp/rcna11260

PayPal sucks. A thief (buyer) claimed he never received the shipment. UPS had the signed delivery receipt but PayPal refused to acknowledge. PayPal had reversed the credit to my bank and I ate a $1200 sale. Never again will I use a money transfer service. If you don't have cash, bank money order or Western Union check I will not do business with you. Remember, CASH IS KING.

quote:

Originally posted by TonyB6255:

I sold a crankshaft earlier this year using Zelle and it was very easy and set up through my bank

I just read that using Zelle offers no protection. They recommend you know who you are sending money to. And you cannot link a CC to it. So no protection from scams. Venmo does allow you to link a CC to it, but they add a 3% charge if you use it.
I use Paypal currently but even though it is linked to my bank I use a CC to pay for everything, and the money I receive stays in Paypal until I use it.

Ihave also used Walmart cash transfer and it works pretty well other than I have to go there to send/receive money.

I've been looking to find a good app.

Dave

Been burned twice the last few months on paypal transactions. Never again. First was $125 the second was for $1000. World is full of scumbags and I am done, unless I personally know who I am dealing with.

Got burned 5 years ago for $1200.00 by PayPal. Buyer was a lying scum bag claimed the rear end housing never delivered. Even with signed UPS verifying delivery Pay Pal would not honor. Unless your paying with cash, bank money order or Western Union money order I will not do business with you.

A lot know this and a lot don't on the EQUIFAX Breach. I was notified yesterday. CYA Discovered in 2017 AND YOUR TELLING ME NOW?????

https://eligibility.equifaxbre...t.com/en/Eligibility