Getting paid with a fraudulent credit card

[GMPETE]

If a credit card is used to pay me with paypal, what happens if this is a fraudulent credit card? Do I lose the funds or paypal? Or do they have rock solid safeguards to prevent this?

I have a recording studio and I'm concerned some of these requests are people trying to scam me with a bad credit card. It's very odd for people to discuss credit cards before really checking me out and starting a dialog about what they need, etc. Here's a sample suspicious email

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i would like to know if you are available for a Recording Studio session service for my kids,How much do you charge per hour and also per day? and do you accept credit card as a payment method?,i will also need the below information from you:

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 A person at my bank said sometimes credit card transactions can turn out to be fraudulent a month or longer after I accepted the payment. 

Any comments or suggestions will be appreciated.

[sharpiemarker]

@GMPETE 

If the behavior is not characteristic of your normal, successful transactions, then ignore those requests.

Services are tricky when it comes to PayPal Seller protection, you’ll need proof of delivery to be covered which is the tricky part. You may use PayPal’s Zettle POS to read card chip (EMV) or Virtual Terminal (monthly fees apply) to enter card info for processing instead to accept cards in-person so you can check a photo ID against the card used to curtail fraud. These transactions are not covered under PayPal seller protection though since you can card the customer in-person, of course. The best fraud detector is your gut feeling. If something don’t seem right, don’t proceed.

And your bank is correct about fraudulent card transactions. Buyers have 180 days to dispute their payment.

https://www.paypal.com/us/brc/topics/cybersecurity-and-fraud-protection

Do a web search on “card payments best practices” for plenty more good tips for recognizing red flags.