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why no paypal credit?

bumpybumpy Posts: 139
in U.S. Coin Forum
I've noticed that a number of ebay sellers won't accept paypal from a credit card. Could one of you sellers out there tell me why that is? thanx
That humanity at large will ever be able to dispense with artificial paradises seems unlikely. Most men and women lead lives at the worst so painful, and at the best so monotonous, poor, and limited, that the urge to escape, the longing to transcend themselves, if only for a few moments, is and always has been one of the principal appetites of the soul.

Aldous Huxley

Yabba dabba doo.

Fred Flintstone

Comments

  • TonekillerTonekiller Posts: 1,308 ✭✭
    3% charged to the seller. Adds up on high end coins.

    TBT
  • MikeyMikey Posts: 477
    You need to link your checking account to Paypals, so they can withdraw and deposit directly. If you use a credit card, the receiver of the funds is charged a fee, just like a store is charged when you use your credit card. I've never had a problem with it.

    Paypals still charges you to receive money, only it's less if it comes from a checking account.
    When I was a child, I caught a fleeting glimpse
  • RussRuss Posts: 48,514 ✭✭✭
    Yep, fees. Not just on CC transactions, but since the ability to accept credit cards requires a premiere or business account, all transactions regardless of funds source.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • bumpybumpy Posts: 139
    Ahh, thanks, guys
    That humanity at large will ever be able to dispense with artificial paradises seems unlikely. Most men and women lead lives at the worst so painful, and at the best so monotonous, poor, and limited, that the urge to escape, the longing to transcend themselves, if only for a few moments, is and always has been one of the principal appetites of the soul.

    Aldous Huxley

    Yabba dabba doo.

    Fred Flintstone

  • DoctorOfToneDoctorOfTone Posts: 81
    Here is the correct answer to your question. The previous responses were not the most important and far more critical issue that concerns sellers.

    The reason why sellers don't take credit card paypal transactions is that Paypal will respond to a chargeback from the customers credit card company by automatically freezing the amount of that transaction and if that amount is greater than what you have in your paypal account then they can and will freeze your account until the account is brought into the black again. I am not aware of the paypal automatically deducting the funds from your bank account or any credit cards you have attached. I do not think they can do that, I know my bank will not allow a transfer without my approval . Either way and the point I am making is the fact that a buyer can complain to his card company and the funds are frozen by them to paypal thus paypal, in order not to assume the risk of a possible loss freezes the funds in the sellers account until the complaint is resolved. What sellers don't like is one minute you may have $1000 in the account and the next it may all be frozen. This disrupts cash flow all too suddenly and leaves the seller feeling helpless if the complaint is not based on fact. With regular credit cards the amount of the dispute is not frozen on a whim, a report is sent to the seller informing him of the complaint he then has time to answer and if he is right then the funds are not reversed. If the buyer is right then the funds are reversed and deducted from the sellers visa/mc balance or the account that is tied to it (if part of the aggreement). Now AMEX is different, they do take the customers side and immediately reverse the amount then will cancel the reversal if the seller proves he was in the right. It happened to me about 3 months ago and 10 days later the amount was unfrozen after the buyer received the product which was delayed due to the USPS slow shipping time. So, you can see that as a seller I do not like a customer being able to freeze the money just because he is mistaken. As a buyer it is a great thing but can adn does get abused. That is the true reason, as I said the other answers are chatter.

    the Doc
    The D.O.T.
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>I am not aware of the paypal automatically deducting the funds from your bank account or any credit cards you have attached. I do not think they can do that >>



    They certainly can, and have to many members. If one signed up after (I believe it was Oct. 21, 2001), their TOS allows them to attach funds directly from the linked bank account of the user.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • eagle7eagle7 Posts: 1,441
    DOT you are the one spewing static. It's because sellers dont want to be responsible for making the customer happy. Nothing compensates for fast shipping and a well described product. What DOT is saying by not using credit cards on paypal is that he doesnt want the customer to have any recourse at all if they are not happy with his service or product. Sure there are a few bad buyers but there are lots more bad sellers on EBAY than buyers. When I see someone who wont take paypal, or credit cards on paypal I investigate them thouroughly before I buy from them.
    In an insane society, a sane person will appear to be insane.
  • bumpybumpy Posts: 139
    Are there not similar safeguards for the buyer when using paypal linked to a cash account as exist with a credit account?
    That humanity at large will ever be able to dispense with artificial paradises seems unlikely. Most men and women lead lives at the worst so painful, and at the best so monotonous, poor, and limited, that the urge to escape, the longing to transcend themselves, if only for a few moments, is and always has been one of the principal appetites of the soul.

    Aldous Huxley

    Yabba dabba doo.

    Fred Flintstone

  • DoctorOfToneDoctorOfTone Posts: 81
    Wait a minute, I never said I dont take credit cards via paypal, quite the opposite. I have been a paypal supporter since they first started. I was actually part of a focus group that the used when they were in the early stages of developing their products. They got my name since I did the same for ebay. I think paypal is fantastic and could not function without it since my entire life seems to revolve around my Paypal credit card. Russ, I was not sure about the bank acct transfer deal but I now believe you are right.
    The D.O.T.
  • DoctorOfToneDoctorOfTone Posts: 81
    I was simply answering the question, I also agree that sellers who dont take credit cards via paypal are not doing the right thing and are indeed looking out for themselves. I have asked many why they dont take credit cards ever since I started seeing that phrase on ebay a year or two ago.
    The D.O.T.
  • DoctorOfToneDoctorOfTone Posts: 81
    no, there is not the drastic immediate freezing of the money. Its all because Paypal is being told by a Credit card company and not an indivdual. The credit card company is not happy with paypal could complain to VISA or MC corporate and if enough complaints came in then Paypal could jeopardize their visa/MC relationships. Although now they are so big that its now a symbiotic relationship.
    The D.O.T.
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>It's because sellers dont want to be responsible for making the customer happy. >>



    Eagle7,

    You may find this hard to believe, but there are sellers who don't take credit cards through Paypal who work very hard to take good care of their customers. Coins are a hobby for me, and I sell extras and dups and frequently lose money as it is. I don't accept credit cards simply because I have no desire to lose more.

    I gladly take credit cards directly in my real business.

    Russ, NCNE
    eBay consignment sales | | Collectibles from Resco CCC
  • goose3goose3 Posts: 11,471 ✭✭✭
    I was about to post something and then Russ stole my words.

    well said Russ.
  • 1956Quarter1956Quarter Posts: 400
    Several reasons. There is a fee because you must have a premium account to be able to accept a credit card. Second, new rules under E-Bay that if you send an item to a user who does not have a verified address, they will not help you in the event of troubles, particularly a reversal of charges. To verify, you must supply your credit card info. Third, the recent trend is for buyers to turn around after receiving the merchandise and having the credit card company reverse the charges. Thus, PayPal charges you back and your out the item and the funds. This does not happen with debit card, funded accounts, or PayPal balances accounts.
  • bumpybumpy Posts: 139
    1956quarter,
    what recourse does the seller have in the senario you suggest?
    That humanity at large will ever be able to dispense with artificial paradises seems unlikely. Most men and women lead lives at the worst so painful, and at the best so monotonous, poor, and limited, that the urge to escape, the longing to transcend themselves, if only for a few moments, is and always has been one of the principal appetites of the soul.

    Aldous Huxley

    Yabba dabba doo.

    Fred Flintstone

  • bumpybumpy Posts: 139
    whoops, scenario
    That humanity at large will ever be able to dispense with artificial paradises seems unlikely. Most men and women lead lives at the worst so painful, and at the best so monotonous, poor, and limited, that the urge to escape, the longing to transcend themselves, if only for a few moments, is and always has been one of the principal appetites of the soul.

    Aldous Huxley

    Yabba dabba doo.

    Fred Flintstone

  • BarryBarry Posts: 10,100 ✭✭✭
    [qThey certainly can, and have to many members. If one signed up after (I believe it was Oct. 21, 2001), their TOS allows them to attach funds directly from the linked bank account of the user.

    Russ, NCNE >>


    Which is why I set up a bank account solely for Paypal transfers. As soon as the money hits the bank account, I transfer it to my main account, leaving close to a zero balance in the Paypal bank account.
  • BAJJERFANBAJJERFAN Posts: 31,139 ✭✭✭✭✭
    I don't take credit cards thru PeePal because to do so would mean that I would have to convert from a personal account to a premiere account and pay a fee on all transactions into my account regardless of the source of the funds. Being that I am a casual seller like Russ i refuse to do this. So far it has not been a problen. I kindly suggest to the buyer that if they wish to use a CC that they can transfer from their CC to their PP account and then to me. If it becomes an impasse I accept a check or to keep the peace I run it thru someone else's PP account that does accept CC's.
    theknowitalltroll;
  • MapMakerMapMaker Posts: 252
    JUST CHECK paypalsucks.com And you will have the answer!!!!!!!!!!
  • bumpybumpy Posts: 139
    Whew, quite a site, mapmaker
    That humanity at large will ever be able to dispense with artificial paradises seems unlikely. Most men and women lead lives at the worst so painful, and at the best so monotonous, poor, and limited, that the urge to escape, the longing to transcend themselves, if only for a few moments, is and always has been one of the principal appetites of the soul.

    Aldous Huxley

    Yabba dabba doo.

    Fred Flintstone

  • DoctorOfToneDoctorOfTone Posts: 81
    Yes certainly there are good seller who don't take paypal. If I inferred otherwise I apologize. I am just referring to the sellers who take paypal that state they don't take credit cards. They have had a problem with Paypal somewhere along the line.

    Yes www.paypalsucks has allot of stories. One day my paypal account was frozen for seucurity reasons. Someone attempted to hack into it and without warning my acct was frozen. I was very upset, they asked to fax all this info, copy of my drivers license, a copy of a recent utility bill, etc. I was really mad but found myself unable to get ahold of anyone until I found the key numbers at the paypalsucks site and bingo, I called and spoke to someone just next door in Kansas I believe. That was before Ebay bought them. My account was opened in a couple of minutes. The point is they froze the account and gave me no warning or information about why until I emailed them and found out they wanted all this information. Then I waited until finally calling as I already explained above. Paypal is amazing, to think that 2 years ago my sales were 50% credit card and 50% check/MO and now its 53% paypal, 40% checks/mo and 7% credit cards direct. Of the 7% credit cards 43% MC 41% VISA 14% AMEX and 2% Discover.
    The D.O.T.
  • 1956Quarter1956Quarter Posts: 400
    NONE. Thats the problem. If you cannot prove they are lying, your stuck. If however you send the merchandise to a verified address, they offer to help resolve the issue somehow, or if you are the buyer and purchased their insurance, they will help, otherwise, your SOL.
  • BAJJERFANBAJJERFAN Posts: 31,139 ✭✭✭✭✭
    To DOT
    I have not had any problems with PayPay yet. As an infrequent seller on eBay I refuse to eat PP fees on those PP transactions that do not involve a CC. Therefore I will continue to maintain a personal PP account and for those few times when I do list items for sale on eBay I will continue to say that I accept PayPal from existing balances and checking accounts only. I cannot accept credit card payments to this account.
    I am sure that there other sellers who feel the same way.
    theknowitalltroll;

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