Pay Pal

COFBack · Posted: Tue Jan 31, 2006 2:35 pm Post subject:

Damn and I just (5 mins ago) gave Paypal my Checking Account info.

What if I never Verify it?

Shit

nimbus · Posted: Tue Jan 31, 2006 1:30 pm Post subject:

Like some people here, I do have a Paypal account, but its linked to a checking account with no overdraft protection dedicated for Paypay. I only keep just enough to keep it open. I only transfer money in when I buy something, and withdraw it, as soon as I sell something.
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79SuperVert · Posted: Tue Jan 31, 2006 1:02 pm Post subject:

I have a PayPal account linked to my credit card. I won't give them a bank account number. The sending limit is $10,000. When the limit is exhausted I close the account for a couple of days, then re-open it with the same email address and I'm good for another $10,000.

Gary · Posted: Tue Jan 31, 2006 12:54 pm Post subject:

http://www.paypalsucks.com/SuePayPal-1.shtml

http://news.com.com/2100-1017-842240.html
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TeamSpatula · Posted: Tue Jan 31, 2006 12:45 pm Post subject:

Shit - I knew I wasn't just being paranoid...now I have to swap accounts, since it's linked to an active one...great...
I guess it won't be to long until we all have our national ID/financial microchips imbedded into our foreheads anyway, so it won't matter then...
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notchback · Posted: Mon Jan 30, 2006 7:18 pm Post subject:

Gary · Posted: Mon Jan 30, 2006 3:22 pm Post subject:

TeamSpatula · Posted: Mon Jan 30, 2006 2:45 pm Post subject:

Gary · Posted: Mon Jan 30, 2006 12:35 pm Post subject:

I have a Paypal basic account and will not upgrade to a Premiere Account to accept credit card transactions. I did that about 5 years ago and was nickeled and dimed to death by Paypal. Now, then people attempt to pay with a credit card, I flat out deny it. If they don't want to use another means of payment, then I guess they don't really want the part.
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bugginmiami · Samba Member Joined: February 26, 2001 Posts: 1414

I have had simular results as notchback.. The only way i can figure out their protection program is it seems to be against me, no matter what. As a buyer and seller, Ive lost. Their MO is 'we dont lose a dollar no matter what'. If the seller calls the credit card company (which happened to me, buyer didnt check the application for fitment before buying) and cancels, paypal loses their $ and yanks it from you. And doesnt require the person send the good back. Your problem. Ive been had as a buyer once and actually got my money back once, so I guess they do side with me every now and then. But i think im 3 and 1. Ive never been able to figure out how the fees work, Ive transfered money to a friend that was transfered to me (hence the credit card fee already paid) and they take another fee out. I dont have a business acct, despite their fee structure it just appears they take a fee out no matter what. Its still the easiest one to use and I use it. But i woudlnt take money of 'real value' on it. You are kinda not only at their mercy, but the originating credit card's mercy too. Beware, just like anything.
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Jeckler · Posted: Fri Jan 27, 2006 8:05 pm Post subject:

Grant · Samba Member Joined: September 25, 2004 Posts: 820

or you could just figure it out before hand and add it to the cost of what you're selling.

notchback · Posted: Fri Jan 27, 2006 7:39 pm Post subject:

I used to use it all the time for my eBay auctions. I am a powerseller on eBay and it was mighty convenient to receive my payments through PayPal. That all changed this past May. I sold an oscilliscope. With shipping the total was a little over $1200. I put in the auction listing that all I had done was powered it up. I had a picture of it with what came up on the screen. In 4 different places I stated that it was sold AS-IS with no warranty. Well, the buyer got it and it didn't do some intricate function that it was supposed to do. He demanded his money back. I e-mail and stated that I was unable to test it (a fact that I had stated in the auction) and that it was as-is. Before I even sent my reply, I found that my PayPal account had been frozen. He had filed with PayPal for a refund even before he e-mailed me. PayPal took all the money I had in my PayPal account, then sucked the rest from my bank account. They held the money while they "investigated" the claim. Then ended up siding with the buyer, stating that it was not as stated in the auction listing, even though I had sold the thing as-is. My account remained frozen from May until November. After 5+ years of using PayPal, and paying them over $4000 in fees for collecting the money for me, I quit them. They can, as Growler put it, suckle the hairy tadpole factory. I no longer accept PayPal. I was actually on vacation when it all went down and they really screwed me up. Go to http://www.paypalsucks.com/ for more info. All of my auctions now have the PayPal sucks logo in it.

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notchback · Posted: Fri Jan 27, 2006 7:30 pm Post subject:

Ambersand · Posted: Fri Jan 27, 2006 6:51 pm Post subject:

Thanks Jeckler! I'm no longer ignorant of that. I'll keep that in mind next time I buy something...it's typically asked of me when I pay with a credit card...

Amber
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Jeckler · Posted: Fri Jan 27, 2006 6:26 pm Post subject:

John M. · Posted: Fri Jan 27, 2006 5:31 pm Post subject:

You have to be 18 years of age to hold an account. So you may have to wait a few years Wink

Other than that it's a great service. About $8,000 a month passes through my account, and I've never had any problems.
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Ambersand · Posted: Fri Jan 27, 2006 4:47 pm Post subject:

Just know that if you pay by credit card vs. your bank account, depending on if you or the person you're paying is a premiere / non-premiere member, the receiver (I believe) of the $ gets charges an additional fee. So they may ask you for another 2% or 3% Can't remember which.

Amber
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74 Westy "Mini Mojo"

http://home.earthlink.net/~ambersand

Glenn · Posted: Fri Jan 27, 2006 4:24 pm Post subject:

You register with them and give them a bank account and a major credit card. They then validate your info and then you're set.

You can then pay someone else using PayPal. They take the money out of your bank or credit card and send it to whoever you want.

You can also receive money from others. It goes intoy your PayPal account and you can transfer it to your bank.

I use it all the time.
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