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

MaxcrushaMaxcrusha Posts: 628 ✭
in U.S. & World Currency Forum
i just saw revised section 11.5..

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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.

Comments

  • gnatgnat Posts: 392 ✭✭✭
    Collectible currency still covered since it is not the equivalent of cash...just like shiney metal discs.
  • SaorAlbaSaorAlba Posts: 7,475 ✭✭✭✭✭
    It seems like the wording is deliberately ambiguous so Paypal can do as it pleases, when it pleases.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • Alex1176Alex1176 Posts: 85 ✭
    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.
    Looking for:

    1. Any The Zanzibar Government note in any condition.
  • uzuiwekuzuiwek Posts: 50 ✭✭✭
    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...
    SPMC LM #405 - Collector of Ohio obsoletes. And other stuff, that I'm not going to tell you, so you don't buy it before I do.
  • mainejoemainejoe Posts: 311 ✭✭✭
    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!
  • bamaeric81bamaeric81 Posts: 39
    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.
    CoinMP : Free Numismatic Marketplace - Buy, List, Auction, Sell - Leave the fees behind
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    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%.
  • BigmoneyBigmoney Posts: 39 ✭✭
    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.
    Centurialcollectibles.com

    EBAY SELLER ID CENTURYCOLL
    Ebay Auctions
  • mainejoemainejoe Posts: 311 ✭✭✭
    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.
  • DepressionscripGuyDepressionscripGuy Posts: 369 ✭✭✭

    Anyone since run into problems with this policy yet?

    Come and see a forgotten piece of history.....

    http://www.depressionscrip.com



    Always looking for more depression scrip -- PM me if you have any for sale or trade
  • delistampsdelistamps Posts: 714 ✭✭✭

    I haven't had any problems.

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