The problem with Paypal is....
ipmman
Posts: 565
They think it's their money.
0
ipmman
Posts: 565
They think it's their money.
Comments
WTB: Barber Quarters XF
http://www.shieldnickels.net
Stay away!
<< <i>Honesy, Integrity, and Service are words not found in their vocabulary.
Stay away! >>
Ahh, but convenience is.
Would I trust them 100%, and do huge transactions using them? No.
Are they good enough for the majority of my online business? You betcha.
Sorry, PayPal haters, but I prefer to use it for the sheer convenience. And I generally prefer to bid on auctions that offer it as a payment option, while I sometimes bypass those who do not offer it. Snailmail payment is a drag, and not 100% safe, either.
So I'll continue to use them, and cross my fingers.
<< <i>
<< <i>Honesy, Integrity, and Service are words not found in their vocabulary.
Stay away! >>
Ahh, but convenience is.
Would I trust them 100%, and do huge transactions using them? No.
Are they good enough for the majority of my online business? You betcha.
Sorry, PayPal haters, but I prefer to use it for the sheer convenience. And I generally prefer to bid on auctions that offer it as a payment option, while I sometimes bypass those who do not offer it. Snailmail payment is a drag, and not 100% safe, either.
So I'll continue to use them, and cross my fingers. >>
You said it, perfect
If I am buying on eBay and see that a seller won't accept PayPal I either ignore the auction or factor in the extra cost to myself when I submit a bid (USPS money orders aren't free!)
One of the consequences of the high use of PayPal has been the demise of eBay auctions featuring very low price items. Once the eBay and PayPal fees are added up, these items can't be sold at a price that makes it worthwhile to offer them.
Yes, PayPal (and eBay) are powerful, but just what are your alternatives? Most of the non-coin items I sold recently would have brought little or nothing if offered to dealers/stores locally. Using eBay and PayPal I at least recovered a good percentage of my cost of those items. Several of my items had only one bid. eBay allowed me to find the one person in the country (or world) who actually wanted that item and was willing to pay $x for it.
PayPal and eBay fees are a cost of doing business.
<< <i>What happens with paypal if you are a seller and the buyer wants a refund, but simply never returned the item? Will paypal force you as the seller to refund? >>
If you shipped to a confirmed address and follow their Seller Protection processes to the letter, if you can show that the buyer received the item but the buyer can't prove the item was returned it to you, PayPal should side with you as the seller.
JMO of course.
Dennis
Looking for PCGS AU58 Washington's, 32-63.
<< <i>The problem is as with everything else thee days, we don't demand quality anymore. Quality has been replaced with convenience and cheep prices.
JMO of course.
Dennis >>
Dennis you are 100% right with "Quality", As I still demand quality, I will not get in this day and age. 300 million people and counting. I still can't get a #1 at Wendys like you see on tv, all you get is a dried up piece of hamburger with a glob of mayo, mustard and wilted lettuce on a stale bun. You return to the window to get another sandwich and all you get is mouth and bad service.
I love Paypal for other transactions like Teletrade and my sportsbook. Yaha
When I used eBay and PayPal, I still didn't have a problem.
The system isn't the problem. Problems are associated with the USER or the ABUSER. Generally speaking, it's the latter who causes the problem.
I also can verify another horror story from a baseball card seller who had over 3000 dollars taken from his paypal account by paypal. They apparently said he was doing illegal activity on his account which was FALSE and they took his money and refused to give his 3000 back. He actually went to court with a lawyer and had to fight paypal to get his 3 grand back. He won but it was a huge mess and paypal fought it every step of the way.
That said I never leave more then 100 dollars in my paypal account just in case they decide they want to keep my $ that they already dipped into...
<< <i>
<< <i>Honesy, Integrity, and Service are words not found in their vocabulary.
Stay away! >>
Ahh, but convenience is.
Would I trust them 100%, and do huge transactions using them? No.
Are they good enough for the majority of my online business? You betcha.
Sorry, PayPal haters, but I prefer to use it for the sheer convenience. And I generally prefer to bid on auctions that offer it as a payment option, while I sometimes bypass those who do not offer it. Snailmail payment is a drag, and not 100% safe, either.
So I'll continue to use them, and cross my fingers. >>
I agree ... but most important ... their Money Market Account has a decent interest rate..currently 4.60%....I can't get that rate on my checking or savings account.
<< <i>I had a problem a few years ago with paypal. It was not ebay related. I purchased a server under a subscription from a reseller. After I paid for my monthly service my server was turned off and reseller walked away with $200. I reported theft to paypal since I paid and never got the server I paid for. The reseller gave some lame excuse "I will refund when the host refunds what I paid" and paypal NEVER refunded my $200 told me I was S.O.L. and I got ripped off thanks to Paypal system and the thieve reseller. Basically now I refuse to use paypal unless its for an ebay auction. If paypal is used I got one of those ATM debut paypal cards so I immediately go to an atm and withdraw everything from the paypal and deposit it into my bank account vs waiting their 4 days for paypal to transfer it. Paypal is a total rip off.
I also can verify another horror story from a baseball card seller who had over 3000 dollars taken from his paypal account by paypal. They apparently said he was doing illegal activity on his account which was FALSE and they took his money and refused to give his 3000 back. He actually went to court with a lawyer and had to fight paypal to get his 3 grand back. He won but it was a huge mess and paypal fought it every step of the way.
That said I never leave more then 100 dollars in my paypal account just in case they decide they want to keep my $ that they already dipped into... >>
That is a scary story. Can paypal actually dip into the bank account you have linked to your paypal account as well?
<< <i>That is a scary story. Can paypal actually dip into the bank account you have linked to your paypal account as well? >>
They cannot..They must obtaining a Judgment against the account holder first.
I had the same thing happen to me the summer of '05 and Paypal has been promising "necesary action" towards getting my money since then. I'll never see it.
I think that's why they offer an attractive rate when you park your money there. They can get it faster. But I'm not sure how it works for the buyer if the seller doesn't keep anything in their PayPal account. They can go after the seller, but what do they do for the buyer in the meantime?
<< <i>So if a buyer demands a refund through a paypal transaction, legally all paypal can do is freeze/withdraw funds that are actually in your paypal account? For instance, say I buy a $2,000 item using paypal and want to return it for a refund. Lets say the seller transferred the $2,000 payment out of his paypal account the day he received it. How would I get my refund through a dispute then? Does paypal self insure for this type of situation? Or am I out of luck? >>
You should be covered under the "buyers protection" up to 2k, if the auction indicated it. I have no idea as to how long it would take for you to get your money refunded.
<< <i>
<< <i>Honesy, Integrity, and Service are words not found in their vocabulary.
Stay away! >>
Ahh, but convenience is.
Would I trust them 100%, and do huge transactions using them? No.
Are they good enough for the majority of my online business? You betcha.
Sorry, PayPal haters, but I prefer to use it for the sheer convenience. And I generally prefer to bid on auctions that offer it as a payment option, while I sometimes bypass those who do not offer it. Snailmail payment is a drag, and not 100% safe, either.
So I'll continue to use them, and cross my fingers. >>
as a buyer .. god I love it click click and wait for delivery no envelope , no 41 cent stamp and no crap having to put my trust in the USPS to get it there..
as a seller for the low to medium price items I usually sell it's a deal.. I don't know what your time is worth but listing a bunch of small checks, time spent in line at the bank and now the cost of gas.. not to mention the convience at tax time of quickly spotting deductions I might of missed by just printing a history of the years transactions and reviewing it...
In my situation it works.. convient.. yes ... economical .. yes .. and it would be twice as nice at half the price, but it would also be twice as nice if my employees worked at half their wages but they won't and they're worth the money so I pay them.... same here.
I had a situation where a seller sold me an illegal piece of software. I filed a complaint with Paypal after the seller refused to reimburse me. I had to mail the sofware back with delivery comfirmation, at my own expense. The seller then transferred the money to my account via a Payment Type: "instant". Assuming this was from cash in his PayPal account, I closed the dispute and transferred the money to my bank account.
Unknown to me, he had made a transfer from his bank account that didn't have any money in it. So, PayPal got an NSF and they charged my account for it. That left me with a negative balance. Next came the email from PayPal saying I needed to reimbuse my account for the negative balance or they would turn me over to collection. I tried to resolve it with them but they said I had closed the dispute and there was nothing they could do.
So, I was out the cost of the software, the cost to return it and the seller got the software back to re-sale it again.
You should be covered under the "buyers protection" up to 2k, if the auction indicated it. I have no idea as to how long it would take for you to get your money refunded.
Don't count on that. I bought $170 worth of stock certificates once, and never received them. After a long story I won't subject you to, Paypal found in my favor, but couldn't recover the funds from the seller, so I'm STILL out of luck. The dispute is still open 1 1/2 years later, for whatever that's worth. So much for my "buyer's protection"! At least I feel good knowing that they found in my favor.
<< <i>
<< <i>I had a problem a few years ago with paypal. It was not ebay related. I purchased a server under a subscription from a reseller. After I paid for my monthly service my server was turned off and reseller walked away with $200. I reported theft to paypal since I paid and never got the server I paid for. The reseller gave some lame excuse "I will refund when the host refunds what I paid" and paypal NEVER refunded my $200 told me I was S.O.L. and I got ripped off thanks to Paypal system and the thieve reseller. Basically now I refuse to use paypal unless its for an ebay auction. If paypal is used I got one of those ATM debut paypal cards so I immediately go to an atm and withdraw everything from the paypal and deposit it into my bank account vs waiting their 4 days for paypal to transfer it. Paypal is a total rip off.
I also can verify another horror story from a baseball card seller who had over 3000 dollars taken from his paypal account by paypal. They apparently said he was doing illegal activity on his account which was FALSE and they took his money and refused to give his 3000 back. He actually went to court with a lawyer and had to fight paypal to get his 3 grand back. He won but it was a huge mess and paypal fought it every step of the way.
That said I never leave more then 100 dollars in my paypal account just in case they decide they want to keep my $ that they already dipped into... >>
That is a scary story. Can paypal actually dip into the bank account you have linked to your paypal account as well? >>
Yes they did this to me when I didnt pay my ebay monthly fee. I do not have the automatic pay setting enabled on my ebay account. They tried to take it from my paypal account and since there was nothing in my paypal account they took it instantly from my bank account... So Yes they can and will do it...
Edit for typos
<< <i>
Sorry, PayPal haters, but I prefer to use it for the sheer convenience. And I generally prefer to bid on auctions that offer it as a payment option, while I sometimes bypass those who do not offer it. Snailmail payment is a drag, and not 100% safe, either.
So I'll continue to use them, and cross my fingers. >>
I am a paypal hater-yet continue to use them because they have such a monolopy on ebay and ebay has a monolopy in their field. I use every other method possible when available and paypal as my last choice. I will never trust them with a large transaction-small purchases and sales only and I never make a transaction thinking I have them to protect me. The only one paypal protects is themselves.