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PayPal = Pay with no pal

USMC_6115USMC_6115 Posts: 3,004 ✭✭✭✭✭
in U.S. Coin Forum
*RANT ON*

Is anyone else here through with PayPal?

So, I make a fairly large purchase through Ebay. I accidently forget to hit the button to choose credit card and I realized it immediately. Does PayPal allow me to undu/fix it? Of course not! This is what happens:

*I contact PayPal via email/phone/smoke signals, etc to no avail
*I contact the seller right away and explain it to him, he gives me a refund, and I pay via credit card as originally planned
*Does PayPal put the money back in my account? NO! They hold it for 4 days even after the seller gave me a refund, and I paid via credit card, and then they put it into their account, and it shows up on my balance (4 days later).
*Now, I withdraw the money from their/my PayPal account back to my bank account, and guess what....they tell me it will be ANOTHER 4 days before the transaction will be complete.

Is PayPal a racket or what?

As soon as this "transaction" is complete I'm cancelling my account. I admit that this started as a small mistake on my part, but talk about unforgiving!

CASH, MONEY ORDER, OR CASHIERS CHECK ONLY PLEASE!

*RANT OFF*

Comments

  • coinmickeycoinmickey Posts: 767 ✭✭
    AH...I see you did the same thing I did last year. I wanted them to charge the credit card and I hit the "preset" bank account deduction. There was not enough money in the account. I notified Paypal immediately about it.

    Not only would they not reverse it. They tried to do the transaction again and cost me two overdraft chardges ($50). I threatend them up down and sideways, demanded reimbursement, etc. They refused and I dropped it. They could care less. Bunch of thieves.
    Rufus T. Firefly: How would you like a job in the mint?

    Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?



    image
  • BoomBoom Posts: 10,165 ✭
    Massscrew...if you cancel your account, my friend you are in for an even longer wait for your money.

    Listen to me-this is what you do. Do you have a Premier Business Account that comes with a card...

    one that you can use at an ATM? If so, find out what your daily withdrawal limit is and EVERY DAY

    until you deplete or damn near deplete your funds you withdraw that amount!..THAT'S when you

    cancel it-NOT BEFORE!!
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
  • fishcookerfishcooker Posts: 3,446 ✭✭


    I can deal in USPS money orders and be faster than 4 days.


  • USMC_6115USMC_6115 Posts: 3,004 ✭✭✭✭✭
    coinmickey,

    Exact same situation - it cost me $25.00 in overdraft as they only did it once to me. One time too many as far as I'm concerned.

    Boom,

    I'm waiting until the transaction is complete as I've said, and then they can kiss my assetts! I don't keep a balance with the crooks other than what they've just stolen so that won't be an issue in 4 days...
  • MatthewBabcockMatthewBabcock Posts: 280
    Boom,

    The one drawback of going to an ATM to get the money... PayPal charges you $1.00 each time you do that. Add to that the ATM fees that are charged at that ATM...

    If you want your money quickly, go to the ATM. If you want all of it, wait the 4 days for the transfer. You can transfer all of the funds, taking the account to a zero balance. Once you have the money and a zero balance you are free to let it go as is, hoping that they fix their problems or close it.

    Matt


    My Coin Website
    My Professional Website
    image
  • tlhoytlhoy Posts: 2,204
    You bunch of whiney little cry babies!
    YOU make a mistake & you blame PayPal for it!
    Let me see. You want to use your CC to pay for something, incase you get screwed you can get you money back through you CC company, BUT you don't want PayPal to protect themselves!

    *Now, I withdraw the money from their/my PayPal account back to my bank account, and guess what....they tell me it will be ANOTHER 4 days before the transaction will be complete.

    I suggest that you complain about your bank taking so long to complete the transaction! When I take money out of PayPal it takes only 24 hours for the transfer to be completed.
    Glenn
  • razorface1027razorface1027 Posts: 4,242 ✭✭
    Paypal..SUKZ...image It was a pleasure at one time...BUT...ya know how greed gets the best of peopleimage
    What is money, in reality, but dirty pieces of paper and metal upon which privilege is stamped?
  • flaminioflaminio Posts: 5,664 ✭✭✭


    << <i>You bunch of whiney little cry babies!
    YOU make a mistake & you blame PayPal for it!
    Let me see. You want to use your CC to pay for something, incase you get screwed you can get you money back through you CC company, BUT you don't want PayPal to protect themselves! >>



    I'm with you, Glenn. Take some responsibility, people.
  • ddinkddink Posts: 2,748
    I use PayPal because it's the fastest way to get it done, but that doesn't mean I have to like it.

    www.paypalsucks.com will tell you WHY I don't like it.
    I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • USMC_6115USMC_6115 Posts: 3,004 ✭✭✭✭✭
    tlhoy and flamingo,

    I stated right up front that is was MY MISTAKE in case you missed it.





    << <i>Let me see. You want to use your CC to pay for something, incase you get screwed you can get you money back through you CC company, BUT you don't want PayPal to protect themselves! >>



    Where are you reading that from? This purchase was actually WITH a board member, so I don't see where I needed to protect myself. What exactly is PayPal protecting themselves from? I paid the auction straight from my credit card after MY MISTAKE. What does PayPal have to lose buy returning my funds INSTANTLY just the way they took them. I think you are reading into this a little too far in an effort to protect a known tyrant. This is nothing more than MY ranting about PayPal and their rediculous policies...

    And, what the hell do I care that YOU get YOUR money back in 24 hours? Who's better than you?

    As for the whiney comment, you can BITE ME! Read into that!

    I'm now with the majority - PAYPAL SUX!
  • bushmaster8bushmaster8 Posts: 5,616 ✭
    I urge everyone to dump Paypal if you have not already. It is just a matter of time b4 they burn you!image
    "Wars are really ugly! They're dirty
    and they're cold.
    I don't want nobody to shoot me in the foxhole."
    Mary






    Best Franklin Website
  • K6AZK6AZ Posts: 9,295 ✭
    PayPal has gotten real sneaky about this. In many ways, they attempt to virtually force you to not use a credit card so they can make even more money. One thing that is really rotten is for the seller to be charged the same amount whether the money comes from a credit card, PayPal funds, or bank transfer.
  • flaminioflaminio Posts: 5,664 ✭✭✭


    << <i>I urge everyone to dump Paypal if you have not already. It is just a matter of time b4 they burn you!image >>



    Suggest an alternative, please.
  • Dave99BDave99B Posts: 8,524 ✭✭✭✭✭
    After 100s of transactions using PayPal, I've had ZERO trouble. Guess I press the right buttons.

    That said, I do think their fees are a bit high.

    Dave
    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • goldrush00013goldrush00013 Posts: 2,478 ✭

    Pay-pal BLOWS! They hold your money to draw the interest from it,which doesn't sound like much
    until it's drawn on thousands of buyers.

    BIG SCAM! image
    Analog Rules! Knobs and Switches are cool!
    imageimage
  • BarryBarry Posts: 10,100 ✭✭✭
    Nobody's getting rich on interest nowadays. Think back to the Jimmy Carter days. That was interest!
  • tlhoytlhoy Posts: 2,204
    "And, what the hell do I care that YOU get YOUR money back in 24 hours? Who's better than you?"

    Apparently you care. you said: *Now, I withdraw the money from their/my PayPal account back to my bank account, and guess what....they tell me it will be ANOTHER 4 days before the transaction will be complete.

    I'm saying the problem with this is not PayPal but with your bank! PayPal sends it immediately, its your bank that takes up to 4 days to receive & confirm it.

    I'm now with the majority - PAYPAL SUX! I will agree with you on this, but the majority uses it for convenience.

    I think PayPal fees are outrageous, & then to tack on CC fees is a complete rip-off! But if you want your item shipped quickly, or you want to be paid quickly, its the price you pay.
    Glenn

    Edited to add: Massscrew, I bet if you call your bank late Friday afternoon they will confirm that they have already received the money from PayPal.
  • Dog97Dog97 Posts: 7,874 ✭✭✭
    Unlike most eBay sellers I signed up for PayPal just to be able to take credit cards and I've known from the beginning that it takes PayPal around 4 days to transfer $$ to your bank account, sometimes 2 days sometimes 5. No big deal to me.
    So I can't give you a soft shoulder to cry on. Sorry.
    image
    Change that we can believe in is that change which is 90% silver.
  • flaminioflaminio Posts: 5,664 ✭✭✭


    << <i>I'm now with the majority - PAYPAL SUX! >>



    FWIW, this is not the majority. The vast majority of people use PayPal every day with no problems whatsoever. It's a very small number of folk who feel screwed for some reason and are exceptionally vocal that get all the ink.
  • Dave99BDave99B Posts: 8,524 ✭✭✭✭✭
    A classic case of the "90-10 Rule" ?

    10% of the people cause 90% of the problems? image


    Dave
    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • ManorcourtmanManorcourtman Posts: 8,010 ✭✭✭✭✭
    I have over 500 Paypal transactions with PAYPAL. Never had a problem? What gives? It's a great service in my opinion. But I always read directions and take responsibility for my actions. Just my opinion of course. Sorry for all the problems you folks have had.

    M
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    Well it would be nice to have the option to accept or reject any payments to your account or at least any payments above a certain dollar level. I don't mind using it to pay for things if sellers prefer it. As for me I'm only willing to pay so much in the name of convenience. For the fee on a $2000 transaction I could buy a nice common date Morgan in PCGS ms64 so I would rather spend my $$ on coins not silly convenience fees. But to each their own.
    theknowitalltroll;
  • jbstevenjbsteven Posts: 6,178 ✭
    FYI

    when I enter a transfer to my bank account from Paypal it takes 3 days for the money to show in my bank account.
  • edsondledsondl Posts: 385
    I like Paypal.

    If you can find a place that charges less for a merchant account that enables you to accept credit cards, then I say "Go for it!!"

    Financial transactions cost money. Every time that you use your credit card at Sears, Sears pays money out of their profits to process that transaction. Some of the alternative merchant account providers online charge 5 to 15% per transaction! Compared to that, Paypal is very reasonable.

    I would prefer if I could set my default funding source to credit card, as I do not transfer money from my bank account since my bank charges for more than 4 withdrawals a month. However, I can understand Paypal setting the default to the bank so that they can pocket that 2%. Shame on them, how very sneaky.

    The other thing that Paypal has done for non-merchants is give the illusion of instant transfer of funds. Banks do not transfer money from one institution to another instantly. Otherwise, wire transfers would not cost $15 each. Paypal can check that the money is in your account and request the withdrawal on your behalf, but it does not immediately get the money. This wait is especially true if your bank is in another system. The same thing for credit cards. The credit card company does not transfer $5 the moment that you swipe the card. The $5 is put on paper as in your account with the actual money moved at the end of the week, or end of the month.

    If you want to pay only by postal money order, then do it. You can not buy postal money orders by credit card (for the same reason that you can not get returns from a credit card purchase in cash or you can not use credit cards in an atm without being charged 2%) because credit cards are credit, imaginary, money and money orders are cash, payable on demand. Bedsides having to have the money on hand, money orders also require longer time before shipping product and placing an extra charge and hassle on the buyer.

    Most checking accounts are not entirley free, credit card companies charge merchants for the convenience of accepting them, savings accounts have minimum balances, money orders cost money to buy, but PayPal (those thiefs) have the gall to charge for their streamlined service. Some nerve!!
  • jbstevenjbsteven Posts: 6,178 ✭
    very well put edsondl. I agree with you about Paypal.
  • RussRuss Posts: 48,514 ✭✭✭


    << <i>Think back to the Jimmy Carter days. That was interest! >>



    Ah yes, the good old days of 20% money market accounts. image



    << <i>If you can find a place that charges less for a merchant account that enables you to accept credit cards, then I say "Go for it!!" >>



    I pay substantially less on my merchant account than PayPal charges. The only people paying more on a merchant account are new businesses that have a crappy credit history.

    Russ, NCNE

    eBay consignment sales | | Collectibles from Resco CCC
  • USMC_6115USMC_6115 Posts: 3,004 ✭✭✭✭✭
    Okay, I have a little better understanding of the way money goes between banks, credit cards, and PayPal thanks to tlhoy and others, and, I have used PayPal without any problems up until this point. But, what pisses my off I guess is their "customer service" or lack thereof. Take www.paypalsucks.com for example, sure there's some whiners there, but there's far more legitimate mistakes or problems that paypal simply doesn't respond too. People who have been scammed without any help from paypal even though paypal claims to have all these protections in place. I think if I was hearing more good than bad over the years about paypal, my problem/mistake wouldn't have aggravated my so much. An already too long story shorter, yes it was MY mistake, but a little help/support from paypal wouldn't have killed them.
  • fishcookerfishcooker Posts: 3,446 ✭✭

    If a seller delayed shipment because of a USPS money order, I'd neg 'em without thinking twice.


  • Prometheus183Prometheus183 Posts: 385
    A racket? NOOOOooooo! Those aren't allowed in the US anymore. We haven't seen an orginized criminal racket in the US since Al Capone. You can't count the IRS either,... it's completely legal orginized crime.

    Craig

    The Rede we live by: If it harms none, do what you will.
    image

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