resolved
Coin Finder
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Anyone know why this is happening ? Paypal is so easy to use to pay for coin purchases and with Paypal credit you can have six months to pay off balances with minimal interest..
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I haven't used PayPal in some time, ever since they floated the idea of fining customers for "spreading misinformation". I decided that they won't have access to any of my funds.
I've dropped PayPal too, now where available I use Plaid for instant ACH payment from my bank. At DLRC he doesn't charge extra for CC so I will use that if it is below his CC limit.
I don't use paypal anymore if I can avoid it, which is 99% of the time. I really need to just cancel it.
I try to avoid using PayPal anyway I can. I don’t like PayPal at all. The only auction house is GC that I have to use PayPal since GC has a very limited payment option. If I want to use credit card with GC I have to call them. It is time for GC to improve their payment options now. Let’s get rid of PayPal payment.
Never had issue with it as a buyer but I've heard horror stories from sellers.
Paypal is notorious for freezing funds of small businesses on any little issue.
They also keep the 3% fee on refunds, which I imagine is why retails are dropping them.
Good for them.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Most CCs do.
They are more expensive than most CCs, however.
I don't ever recall getting less than a full refund via PP. Why don't more places start taking Venmo? As for Plaid I don't always keep a high balance in checking so I defer to a CC instead.
Venmo is pretty good. I like Zelle best but that is a whole different level of trust. I don't keep enough in my checking to use Plaid without warning, but my brokerage can get money into my checking account in 1 business day and Heritage invoices give you a week so easy to manage funds.
I had an issue with Paypal when they held my funds for 5 weeks because first they said they needed more proof of delivery despite the buyer uploading pictures, emailing, and calling them while I did the same and they had all my tax data and whatnot. They just wanted to hold my money, so once I got the funds I cancelled all use of PP for anything and deleted the account. I also convinced all my clients and close former clients to stop using paypal, not coin clients but legal and accounting.
I hate PayPal with a seething passion, it’s my least favorite payment method and I would only accept it reluctantly below a certain threshold. Many other vendors share that sentiment, and I don’t blame heritage or DLRC for going that direction.
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Venmo is owned by PayPal.
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Understood as I have an account with both. Depending upon what you hear or who you believe one is about as mean as the other.
I’ve heard stories about Venmo’s buyer/seller protection being worse than normal PayPal, perhaps something to do with collectibles not being covered. Have you heard about anyone using that successfully?
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I don't much care for them either, but thus far I have not had the bad experiences that others have had. I've sweated a few bullets accepting PPFF or no fee Venmo for rifle scopes. So somebody needs to start a similar service that accepts the same levels of payment without the apparent hostility.
Good to know. I don't use Venmo either. Our bank has Zelle which I've used a few times. I mostly use credit cards for anything on line these days.
I like PayPal and the added layer of protection it provides me as a buyer (not just coins). I don't sell online, but might feel differently if I did based on others horror stories.
Philippians 4:4-7
Zelle is awesome, and imo should be the standard that overtakes checks, but the problem with many banks is that they place these arbitrary limits where you can only send $1000 or $2000 in one transaction, and some of the small banks only let you send that amount PER MONTH.
When the banks will finally embrace Zelle to the fullest extent, my life will be so much easier.
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I would never use Zelle with anyone I don't know. Zelle is the same as cash and there is no recourse if something goes wrong.
I used Zelle once last year and they accidentally duplicated the payment. They even flagged it themselves as an error. But they refused/ were unable to reverse the erroneous payment. Fortunately, I knew the guy and he sent it back.
I get that, it’s all relative and highly dependent on where someone swims in the pool and who they’re buying from. For lower value coins sub $1000 , PayPal makes more sense.
For example, many of the more public Facebook groups like the ones that @Mick999 sell in, the members there will preach to everyone how you should always use PayPal no matter what. The mods are not that good at vetting membership and people get scammed often because of their ignorance.
In the groups that I moderate and participate in, it’s a strong community of trusted sellers heavily reliant on reference checks and vouches from the community. Also very gold oriented, so the average transacting is much larger. You’ll get laughed at if you opt to use PayPal for a cheap double eagle where you’ll be making a $90 donation to PayPal for buyer protection from someone who someone that regularly handles much higher transactions and volume on a regular basis.
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I agree. And I would include people like Heritage in the Circle of Trust.
I have no experience with claims via Venmo. I opened an account specifically for collecting funds for selling rifle scopes for a time. I haven't used it in awhile. I did have one person tell me that Venmo closed his account for accepting no fee Venmo funds for goods and services. What I found surprising was how many folks willingly sent thousands of dollars via no fee PP and Venmo without batting an eye, without calling or even asking to see a picture of what I had. I'd get a price for an item from an acquaintance, add a % to it and list it. Once I collected the funds, I paid my acquaintance and more often than not his distributor shipped the item direct to my buyer. Was more fun than profitable.
One thing with Venmo is that if you don't pay attention to your privacy settings all of your transactions can be in public view.
Well looks like Venmo is history for me now too.
Zelle is only for using with trusted parties, I have 5 clients that will Zelle me money and then send an email asking me to send them the coin(s), #1 difference with Zelle compared to others is they do NOT issue 1099-K forms like ALL of the others as they are classified differently by the IRS. I often send $2000 10 days in a row or receive the same in some transactions if time is not important, my stupid bank has a $2K limit but some that I deal with have a $10K a day limit, it varies by bank.
The only time I used paypal was when I was dealing with a Chilean travel consolidator and they had all credit card charges go through paypal. Probably because this was an international transaction.
I use Zelle in my business and really like it. They stopped charging fees to businesses receiving payments via Zelle during Covid, and left it alone afterwards.
"Seu cabra da peste,
"Sou Mangueira......."
Plaid (and others of similar ilk) are rumored to scrape your bank/brokerage information (accounts, balances, stock positions, loan details, profile data) and sell it.
Even if they don’t sell it, I don’t want to give out my login credentials for any accounts to any third party.
Hence, any service that uses Plaid, I avoid, or use microdeposits instead.
Sigh...1099's... here we go again.
Well if you like 1099-K, then you should read up on §1031 like kind exchanges in your spare time. They can be quite handy in coins if you are not a full time dealer in the trade but only dabble in selling and buying.
i want to see the coin you missed out on.
You may be correct, but I use a credit union and they will not allow Zelle on my business account, so to use Zelle I have to go thru a bunch of transfers. Regardless of the amount PayPal is far easier for me to use.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Really?
On GC you can use E-Check, what's easier then that? PLUS you cut your BP down to 10%, another bonus
Mike
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I never had any problems using Paypal, free money for 6 months works for me. Just use it correctly and you'll have no issues
Mike
My Indians
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The problems are on the SELLER end which is why the SELLERS are no longer allowing it.
But for buyers it's a beautiful thing.......if used right
Mike
My Indians
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Seems your work is never done.😀
Thanks I learning some things.. If Paypal is a problem for sellers it must cost them money when people return item's etc.. I suppose in the long run if a seller can cut costs they can pass along that savings to the buyer.....(ok stop laughing) .
I really, really like the six month loan with Paypal though, no one else does that..
It has very little to do with returns (for me at least). No matter what payment method someone uses, I’m happy to issue a return if you’re not happy with the coin.
It has everything to do with PayPal’s propensity to always side with the buyer no matter what, leaving little to no protection for the seller. Whether it’s a chargeback, a return where an item is swapped, or something of the like. There’s just as many dishonest buyers as there are dishonest sellers. In addition, PayPal likes to arbitrarily put a hold on your funds whenever they suspect anything unusual, sometimes locking your money up for weeks with no answers and you can do nothing other than pester the low level grunts in the Philippines.
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In case you wanted more options for GC
Check/Money Order, Wire, BitPay (BTC, LTC & Others)
Mike
My Indians
Danco Set
Paypal has been great for me. I use it all the time. They protect the buyer very well. If an item gets lost in the mail or in customs they make the seller make good on it. Many times the seller is supposed to insure the package but when it doesn't arrive they put the burden on the buyer to track down the post office and file a claim. When buying over the internet the seller is responsible for getting the package to you. If you don't get it they must give you a refund. Some sellers shirk this responsibility.
So if you are a buyer Paypal is great. Sellers don't like it because if you don't receive the item Paypal will make the Seller pay up.
Good riddance. Paypal keeping the 3% fee on refunds was essentially theft when they were linked with ebay.
Some credit cards charge an extra 3% for processing the return payment.
So they engage in usury AND theft.
If you contact GC, they will set up ACH so they can take payment from your bank account (echeck). I'm not sure why they don't advertise that more.
who want to do wire for a 100 or 300 order. no echeck or zelle with GC.
I don't think GC offer echeck. They do offer Wire but who want to do wire with couple hundred dollar order. Check will take forever to clear. They don't take zelle. LOL.
They have ECheck
Here is everything they take
PayPal and Credit Card (Visa, MasterCard, Discover, American Express), Check/Money Order, eCheck, Wire, BitPay (BTC, LTC & Others)
Mike
My Indians
Danco Set
‘’Anyone know why this is happening ?’’
Could accepting AMEX have anything to do with it?
Wondercoin.
Some credit cards charge an extra 3% > @Connecticoin said:
No. They charge a fee to process payments. Process 2 payments. Charge 2 fees. It's actually quite logical as the service provided is the same in both cases.
GC and eBay are the only two online sources I buy from. I hope they don’t drop PayPal.
I stopped using PayPal when I found out they won't allow PP to be used to purchase firearms and ammunition.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire