Paypal transfer question.

[Opus]

I'm going to sell a piece of reefing equipment locally. I was planning on doing it porch pickup and paypal friends and family. This is a $700 item and I don't want them to be able to get it and then charge me back since I've read too many stories of that happening. My question is on when does the money clear. I haven't heard of this in a long time, but I thought many years ago there was an issue with people selling things thru paypal and then the money would be reversed from their account because the person buying it wouldn't actually have the money in their account to pay for it. Does this still happen or does Paypal now have measures in place to deal with this?

 

[Sleeping Giant]

The money is transferred immediately

 

[PeterLL]

If friends and family, as soon as it is in your account, it is yours, nothing they can do to get it back. The money will also be instant, no holds or anything like that. If you don't do F&F it opens up huge risk of them being able to claim or chargeback.