PayPal Question
XanaduNow
Posts: 1,718
Anybody know if there's a way to see what type of payment your account received (ie. balance transfer, eCheck, credit card, etc.)?
There shouldn't be fees for balance transfers or eChecks but what's from stopping PayPal from just charging you fees on every payment since you can't tell if it was made with a CC or just a balance transfer?
There shouldn't be fees for balance transfers or eChecks but what's from stopping PayPal from just charging you fees on every payment since you can't tell if it was made with a CC or just a balance transfer?
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Comments
If you use Paypal to sell on Ebay you have to have a premier account in which you will be charged for their services. If you do not have a premier account and someone tries to send you a CC payment you will either have to upgrade or deny the charge. Paypal no longer tells you what kind of transaction it is.
Paypal has actually always required anyone who accepts paypal for auctions to have a premier account, they just never enforced it until last August. A personal Paypal account is just that for personal use.
Why should they offer any service for free?? I wouldn't if I were them.
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I fully expect that they will start to hit buyers for a nickle
or so sometime in the next year or so.
Paying them 5-cents is a whole lot easier/cheaper than writing a check
and mailing it; that process costs a buyer at least 39-cents.
Paying them 5-cents is a whole lot easier/cheaper than buying a MO
and mailing it; that process costs a buyer at least a dollar.
storm
<< <i>There shouldn't be fees for balance transfers or eChecks but what's from stopping PayPal from just charging you fees on every payment since you can't tell if it was made with a CC or just a balance transfer?
If you use Paypal to sell on Ebay you have to have a premier account in which you will be charged for their services. If you do not have a premier account and someone tries to send you a CC payment you will either have to upgrade or deny the charge. Paypal no longer tells you what kind of transaction it is.
Paypal has actually always required anyone who accepts paypal for auctions to have a premier account, they just never enforced it until last August. A personal Paypal account is just that for personal use.
Why should they offer any service for free?? I wouldn't if I were them. >>
I don't expect them to offer a service for free. My point was that there are no fees for balance transfers or eChecks and yet there's no way to determine what type of payment I am receiving.
Also, they make money by having our money. Do you really think it take 4 business days to complete a bank transfer? When I add funds to my PP account or when I send an eCheck the funds are typically removed from my account within hours. PayPal then holds onto your money for 3 days and makes interest on it, much like a bank.
I've had dozens and dozens of PayPal payments send to me and up until about 2 weeks ago I never got a CC payment. Ever since I upgraded to receive CC payments every single payment I've received has had fees removed. Just seems odd.
Though Paypal states that it may take up to 4 business days to complete a transfer of funds to your bank account, it usually takes only 2-3 business days in almost all cases.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>I believe that in order to accept Paypal payments via credit card at all, that you must have upgraded to a "premier" account in which case fees will be deducted for any instant transfer you receive whether it be a payment sent via Paypal balance transfer or credit card. >>
I did NOT know that. No me gusto.
<< <i>Anybody know if there's a way to see what type of payment your account received (ie. balance transfer, eCheck, credit card, etc.)?
There shouldn't be fees for balance transfers or eChecks but what's from stopping PayPal from just charging you fees on every payment since you can't tell if it was made with a CC or just a balance transfer? >>
Paypal will always be a ripoff. There is no compettion. The only way to combat paypal is to open up a merchant account, but then again collectors are too fat and lazy to call you to make the charge.
Most of the time, I try to use the Personal account to avoid fees. However, you have a $500 receiving limit and obviously can't accept credit cards. I'm only a part-time seller so this works for me ...
I think it sucks that "paypal to paypal" transfers don't cost anything in a personal account but cost the same as a credit card payment in "Premier" accounts.
Just one more way to scam an extra few bucks off of account holders.
------- 1960 Topps Baseball PSA 8+
------- 1985 Topps Hockey PSA 9+
If you have a premier account you are charged for all transactions. If you have a personal account you cannot accept payments made via CC without upgrading.
Trust me over the past week I have become very familiar with Paypal's terms trying to find a way they messed up their on terms in my case.
Did you know when you sign the TOS that you agree that you will not sue them unless their actions violate some law. This is why it is so hard to sue Paypal.
<< <i>Did you know when you sign the TOS that you agree that you will not sue them unless their actions violate some law. This is why it is so hard to sue Paypal. >>
Wizard, don't let this fool you. Anyone can sue anyone at anytime for any reason. Companies and businesses set up these waivers of liability all the time to scare of those who might otherwise not know. Whether you win or not is a different story and will most likely vary on a case-by-case basis. But don't ever let one of those waivers stop you from investigating your legal possibilities.
When I was knee-high to a grasshopper I worked as a security guard. We had people sign waivers anytime we performed any helpful serive (car battery jump, slimjim the door because they locked their keys inside.) They meant squat. They were only there so that people would just say to themselves "Oh well, I signed that waiver so I guess there's nothing I can do."
Trust me, I've got friends who know about stuff like this.
1994 Pro Line Live
TheDallasCowboyBackfieldProject
I agree anyone can sue anyone at anytime, but Paypal has enough lawyers that they can wrangle it around for a long time. That major case they settled out of court one of the things that helped keep it going so long was that part of their terms of use.. They just saw the plaintiffs werenot backing down and ended up settling out of court. They came out clean and ended up paying very little.