Yes! PayPal is generally considered safe to send and receive money from people online. Both known people and unknown people. In fact, PayPal is a payment platform that was specifically brought up to complete transactions online.
And if you are searching if you can trust the PayPal platform to send and receive money to and from strangers, then you are on the right track.
However, even if it is safe to receive money from strangers on PayPal, it is still considered risky. And so, in this article, we will explore some of these risks and solutions to show you how to be safe from strangers on PayPal easily.
A Random Person Sent Me Money on PayPal: What Should I Do?
If a random person sent you money or is about to send you money on your PayPal account, it might be good news, same as it might be bad news.
This is a new way some scammers use to hijack or steal from people right now. They send you money and then expect a refund. Well, this is not only it, checkout some of these common scams related to receiving money from strangers on PayPal.
1. Phishing scams
Anyone can create a phishing scam, and it is one of the oldest yet very efficient scams that scammers use. They create and send fake emails or messages impersonating PayPal.
Inside this email or message, they ask you to click on a link and enter your account details. These links can lead to fake websites designed to steal your login credentials and access your account.
And so, a stranger can create this kind of message or email, claiming money was sent to your account, and to claim it, you have to log in into your account following their link.
Solution
The last thing you should ever do is to click on a link on an email or message from your bank. Never do that, not just about PayPal, but about all money transfer methods.
I guess you have an android or apple device or any other device. Just download the PayPal application, either from Play Store or Apple Store for android and apple users respectively. And then install and check your balance and all transactions directly from your downloaded app and not via a link.
2. Overpayment scams
Scammers may send you a payment for more than the agreed amount and then ask you to refund the excess money. After you send the refund, the initial payment may be reversed, leaving you with a loss.
Quite easy and very efficient. Make sure you do not agree to overpayment scams on PayPal. Because they will just do it easily and then leave you with your sorrows to keep.
Solution
The best way to handle overpayment scams is to contact PayPal. When you contact them and let them know it is an overpaid transaction, they will handle it in a way that they sender won't be able to request a refund, and that the overpaid amount will be sent back to that person.
Leaving you with a win solution. Even though some people prefer not to send the money back so that it can serve as a lesson the the sender.
3. Buyer scams
There are businesses everywhere, and one type of business very much affected by scams are online businesses. A buyer will pay for a good, and then you send it to them.
And later on, the buyer may claim they did not receive the item or that it was not as described to initiate a chargeback or claim through PayPal's dispute resolution process, resulting in a loss for the seller.
Solution
This type of situation could be complicated, but with the PayPal's seller protection program, they won't be able to claim anything false against you.
And so, if you are a seller using PayPal for payments, we will advice you to subscribe or use the PayPal's Seller protection program and keep yourself safe from these bandits.
4. Unauthorized transactions
Your PayPal account may be compromised, leading to unauthorized transactions or payments being made without your knowledge or consent.
This one is a problem that happens at times with PayPal app, and we don't really know a better solution for this that to contact the PayPal team and they will speak with you and try to put things in order.
But as it moves forward, the first thing to do when this happens to you is to gather essential information and evidences because you will go through a series of questions for them to be sure that they will complete your refund.
Even though at times it might not fall well for you and your request might not be attained. But you should do this, and do it as early as possible too.
Tips to Remain safe from Strangers on PayPal
Scammers are now very rampant online and are found on all online payment platforms. However, there are tips that if you stick to it very well, you won't fall victim of these criminals. They are:
- Be cautious of unexpected or unsolicited payments from unknown senders.
- Verify the source of the payment and clarify the purpose of the transaction before accepting the money.
- Use PayPal's seller and buyer protection features for added security.
- Secure your PayPal account with strong passwords, two-factor authentication, and regular monitoring.
- Report any suspicious activities or scams to PayPal's customer service immediately.
Closing Thoughts on PayPal Receive Money from Strangers
We can always trust PayPal when it comes to sending and receiving of money online. And this is because, PayPal is considered the most secured online platform for sending and receiving money.
Because of this, the number of scams on PayPal have reduced, but have not faded away because some people will still fall prey even with all the security.
If you are to receive money from a stranger, you are to apply serious caution and make sure you are kept safe. And one of the ways to keep safe is by first of all keeping yourself safe with high and unimaginable passwords.
And also check your sender's info very well before accepting payments or sending of cash. And one last thing is that be alert for overpaid transactions.