currency still covered by Paypal's seller protection? not sure now with this new policy... any thou

Maxcrusha

i just saw revised section 11.5..

***********************************************

Amendments to the PayPal User Agreement

Effective Date: June 25, 2016

PayPal is changing its User Agreement. The amended User Agreement will be effective as to all PayPal users on June 25, 2016. We encourage you to review this Policy Update and familiarize yourself with the changes that are being made. To see the entire Amended User Agreement that will be effective June 25, 2016, please click here.

If you do not agree to the amended User Agreement, you may close your account before June 25, 2016 and you will not be bound by the amended terms.

A summary of changes is provided below.

REVISED SECTION 11.5

We’re making a clarifying change to Section 11.5 and adding a new item that will be excluded from PayPal Seller Protection. The new item that will not be eligible for Seller Protection is:

Items equivalent to cash, including gift cards.

gnat

Collectible currency still covered since it is not the equivalent of cash...just like shiney metal discs.

SaorAlba

It seems like the wording is deliberately ambiguous so Paypal can do as it pleases, when it pleases.

Alex1176

Originally posted by: gnat
Collectible currency still covered since it is not the equivalent of cash...just like shiney metal discs.

The question is... Can we take a 1899 dollar and pay with it in Walmart? If yes, Paypal may say that it's like cash.

uzuiwek

Originally posted by: Alex1176

Originally posted by: gnat
Collectible currency still covered since it is not the equivalent of cash...just like shiney metal discs.

The question is... Can we take a 1899 dollar and pay with it in Walmart? If yes, Paypal may say that it's like cash.

Well if that's the test, then $2s are probably fine...

mainejoe

Greg, it still stands that if coins or currency fall under the category of collectibles then it is not considered equivalent of cash. Even though we ALL know that a 1928 star note IS worth it's face value, regardless of it's numismatic value. But as said, it is a collectible and then is safe from the new wording. Cripes I was behind a guy who paid for his gas with a roll of Kennedy halves, 64's! Unfortunately the clerk wouldn't let me buy them after she realised what they were, dang! I would take them at face value all day long!

bamaeric81

I would assume that anything of Numismatic value would still be covered. But I agree with SaorAlba, that PayPal is more than likely intentionally leaving it a gray area.

ebaytrader

Imho, you'll be out the face value. For example, the loss of a vg $500 sold for $750-ish would net you circa $250 from a claim. You'd be out $1000 on a bag of circ 90%.

Bigmoney

Has anyone actually been paid from Paypal buyer protection for anything? Im not really sure when they would pay. If its a stolen identity its a charge back , if it gets lost in the mail its a postal or insurance issue . If the buyer files a charge back for pretty much any reason. Its on the seller. So when does Paypal pay for something? I've never had a problem where they covered it. Just curious if anyone has benefited from this policy. Buyer or seller.

mainejoe

I did once. When the buyer went the distance and failed with Ebay, then Paypal, he went for a charge back on his CC. I went the distance with Paypal, and won.

DepressionscripGuy

Anyone since run into problems with this policy yet?

delistamps

I haven't had any problems.