BS: PayPal: Payoffs vs. Pitfalls?

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Don(Wyziwyg)T
Date: 21 Apr 13 - 02:39 PM

""That should read "and SAY you didn't receive.."
Professional forums have lots of stories about how PP support thieves in ripping off legitimate merchants.""

A legitimate merchant who sends goods without a signature required on delivery?

Seems a bit chancy.

Don T.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST
Date: 21 Apr 13 - 08:52 AM


If you pay and don't receive the goods, they reimburse you and chase the seller for the money.

That should read "and SAY you didn't receive.."
Professional forums have lots of stories about how PP support thieves in ripping off legitimate merchants.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Roger the Skiffler
Date: 20 Apr 13 - 12:29 PM

Good idea, Don, I'll do that in future.
RtS

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: olddude
Date: 20 Apr 13 - 12:13 PM

Jill
I buy a lot of watches and watch parts off ebay. I use a checking account with a small balance linked to paypal. I just deposit enough to cover the purchase and go from there. It is very safe as that account is only used for online transactions. Likewise like Don said I have a debit card from that account also but it is limited only to what I put in (keep it enough to cover purchases). I been using it for years without any issue whatever. You will be just fine. I take paypal payments also from items I sell. My wife takes paypal for here cheerleading competitions ... never had an issue

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Don(Wyziwyg)T
Date: 20 Apr 13 - 11:04 AM

One thing worth remembering Jill, is that as a buyer Paypal do much more than simply ensure payment.

If you pay and don't receive the goods, they reimburse you and chase the seller for the money.

As I said, you don't need to link. Just ask your bank for a debit card. It only permits you to access what money is actually in your account, so there's neither interest to pay, nor the chance of getting into debt. Importantly, it doesn't attract charges or interest when you draw cash from an ATM (at least in your own country).

Don T.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Don(Wyziwyg)T
Date: 20 Apr 13 - 10:56 AM

""you have to be wary of fake e-mails purporting to come from PayPal. I always send those straight to Spam without opening.

RtS""

Much better to forward them to spoof@ paypal.co.uk, or [e-mail].

It doesn't take much more time than junking them and E-Bay and PayPal do make efforts to find and prosecute the scammers.

Don T.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Don(Wyziwyg)T
Date: 20 Apr 13 - 10:50 AM

""I do not have Paypal and don't know a great deal about it but if you are not a seller, only a buyer, like on Ebay, and other sites, is it true that you have to link Paypal to your checking account?""

I have only a basic bank account with a debit card, and I pay everything through that card.

You can verify your account and deal out of your bank account, but you don't have to, in the UK at least.

Don T.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST,leeneia
Date: 20 Apr 13 - 09:41 AM

Back in 2005, my Paypal account was hacked by someone who used it to buy jewelry. (I did not have an easy password.) What a headache!

My Paypal account is now linked to a savings account with an itty-bitty balance. It probably helps sweeten the bank's mood that my checking account is at the same institution.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST,Jill
Date: 20 Apr 13 - 04:11 AM

To Olddude:

I would not have transactions coming in to put into my other acct. as I am not a seller - I do not sell anything. I am only interested in buying on Ebay or Amazon, etc. so I would not have monies coming in - only going out. That is why I was hesitant to link to a checking acct.
Is there any other way to set up a Paypal acct. without it being linked to your personal checking acct?
As I mentioned before I do not use credit cards.
Since Paypal is all over the world I would worry about having my checking acct routing numbers out there. worldwide.
But if there is some other way to set up a Paypal acct. let me know (without being set up with your bank checking acct.)
Thanks,
Jill

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Roger the Skiffler
Date: 20 Apr 13 - 03:41 AM

I have had no problems using Paypal as a purchaser but, as noted by other posters, you have to be wary of fake e-mails purporting to come from PayPal. I always send those straight to Spam without opening.

RtS

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: olddude
Date: 19 Apr 13 - 09:22 PM

Jill
the answer is no, you can safely like it to your checking account. If you want you can do what I do, set up a second checking account and keep a very small balance. When paypal transactions come in, take out the money and put it in your main account.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: dick greenhaus
Date: 19 Apr 13 - 08:42 PM

CAMSCO has been using PayPal for both overseas and domestic transactions for the past decade. Never had a problem.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST,Jill
Date: 19 Apr 13 - 07:43 PM

I do not have Paypal and don't know a great deal about it but if you are not a seller, only a buyer, like on Ebay, and other sites, is it true that you have to link Paypal to your checking account?

I DO NOT have a credit card, only have a checking acct but I feel hesitant to link it to Paypal as money automatically comes out of it.
When I write a normal check, I have of course proof from my cancelled check and most of all the places I write checks to - monies are not taken out automatically. I know some places do checks electronically and then you are given the check back right away, but as it turns out the places I shop, grocery stores, large dept. stores, pet supply stores - do not do checks electronically and process as it as a normal check with monies coming out anywhere from several days to over a week later.

So..I was wondering if linking Paypal (as a buyer - not seller) can possibly cause mistakes, problems on your checking account?

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Don(Wyziwyg)T
Date: 19 Apr 13 - 07:53 AM

The most important thing about Paypal, Q, is that you only have your credit card or bank details known to that one organisation.

If anything goes wrong, you know exactly where to look for the reason.

It must be better than having multiple companies in a position to raid your accounts at will. Only one rogue company and your money is gone.

Don T.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Herga Kitty
Date: 18 Apr 13 - 01:49 PM

Thanks Don - I've done as you suggested!

Kitty

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Q (Frank Staplin)
Date: 18 Apr 13 - 12:13 PM

Paypal is owned by Ebay, hence most sellers on Ebay ask for payment by Paypal.
Recently, a credit card operation has been absorbed. They cannot compete with Mastercard, Visa, etc., but it seems that they would like a piece of the action.

Paypal is quick and easy for Ebay purchases. I would use my credit card for purchases from Ebay, but many sellers now specify Paypal only.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Don(Wyziwyg)T
Date: 18 Apr 13 - 11:27 AM

Kitty, you should not just smell a rat, but actually see it too. It's that E-Mail.

Paypal never ask for details or updates by links in E-Mail. NEVER!

Log on directly to your Paypal A/C and check whether there is any kind of update happening.

As for the E-Mail, forward it, without responding to [e-mail]


Ypou'll almost certainly receive the news that it's a fake.

Don T.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: olddude
Date: 18 Apr 13 - 10:42 AM

Paypal is about as safe as you can get. I had a friend that someone hacked in and took 15K from her bank account. Paypal reimbursed her in 1 day ... she had a very bad password. use a very good password,   I been using it for years and it is super.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Herga Kitty
Date: 18 Apr 13 - 08:26 AM

I've only used PayPal once, to send money to Mudcat. Today I got an e-mail entitled "Account Maintenance", saying I may have noticed limitations on my account because of incomplete information, and inviting me to resolve the issues by clicking on a hyperlink. I think I smell a rat....

Kitty

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Stilly River Sage
Date: 11 Jan 07 - 10:51 AM

The only way to get even is the invest in eBay stock and get some of your own back in profits. That is, if it is a publicly held company. I don't know if it is.

SRS

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Scrump
Date: 11 Jan 07 - 06:56 AM

When Ebay first prohibited sellers from charging buyers extra for using Paypal, I noticed that many sellers were ignoring the ruling and continued to advertise the extra charges on their listings. But as soon as I listed an item with a similar message, my listing was pulled (after I'd had several bids too, which was a bummer!)

I've tried to get round it by putting in wording hinting that I would accept Paypal if the buyer pays the charges, without actually saying so, but the buyers don't seem to take the hint :(

If I say I don't accept Paypal at all I think it deters bidders, although this is difficult to prove, but I feel it seems to be the case from the results of auctions I've run on ebay.

It's a shame not to be able to use Paypal though, because it makes things so much easier for buyer and seller. I still use it when buying, even if the seller asks extra (in spite of the ebay ruling some still seem to get away with it), because it's quicker and easier than writing out a cheque and posting it. And of course I usually get the item delivered a lot sooner in consequence.

I just feel ebay are ripping sellers off and being greedy. I know they are in it for the money, but I'm surprised there hasn't been more objection to their policy on sellers charging extra for Paypal. This should be a decision for the seller, IMO, not ebay (as it was before they took Paypal over and made the rule).

Since ebay now owns Paypal, I think the "decent" thing to do would be for them to exclude the shipping costs from the Paypal commission (they can obviously do this now, because they have total control over the ebay and Paypal software). This would avoid the scenario I outlined earlier, where the seller makes a loss on the shipping costs. I wouldn't mind paying the commission on the selling price.

Unfortunately ebay has a virtual monopoly in online auctions (I know there are others but hardly anyone uses them), so they seem to do what they like. Some sort of organised boycott of Paypal might do the trick, but not many others seem bothered by ebay's behaviour, which seems unreasonable to me.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Roger the Skiffler
Date: 11 Jan 07 - 06:31 AM

I used to have a lot of problems, AOL security battling theirs. Seems OK now but when I needed to verify personal details after I mistyped my password it said my birthplace and mother's maiden name were wrong! Fortunately I remembered my password and have used it at least once succesfully recently after problems for about 4 years since I signed up! I've had no trouble with suppliers but I've used reputable ones (like Mudcat!).

RtS

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Folkiedave
Date: 10 Jan 07 - 05:30 PM

I've used it a lot - but as someone says try not to use it for low bid items for abroad or your profit goes.

I do not accept Paypal from GB customers and I rarely sell stuff abroad under £25.00.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Richard Bridge
Date: 10 Jan 07 - 05:03 PM

I have been warned by a very savvy friend that Paypal is not seller-secure, because if the buyer complains to his card company, that will charge bac topaypal, and paypal will charge you - even if the buyer is totally scamming you.

Can this happen?

If I deleted the credit card link in my paypal, and only left the bank account link, then took the money out of paypal and out of the bank account smartly, I'd leave Paypal chasing a bank account with no overdraft facility.....and no money in it.

Would that work?

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Jim Lad
Date: 10 Jan 07 - 02:20 PM

Hey, Alaska Mike!
                I checked out your site. How's that working for you?

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Jim Lad
Date: 10 Jan 07 - 02:15 PM

I'm in the midst of installing Paypal on my website, right now. Should be on by the end of the week. Comes highly reccommended by friends who should know. Paypal says "Do not reply to any e-mails, requesting personal information" they never, ever send them.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Stilly River Sage
Date: 10 Jan 07 - 01:47 PM

I understand your complaint and I had a couple of go-rounds with eBay over their PayPal protectionism. You can't advertise that you will only take PayPal instant payments instead of credit card payments through PayPal. They will kick your auctions out the moment the discover it, because while they SAY you can use PayPal "free," it's only free when a few circumstances exist and only for a little while and they don't want you restricting the PayPal functions you're willing to accept. It's all or nothing, says the 800-pound gorilla.

They nickel and dime you every step of the way. And while there are some folks who make quite a practice of gouging on the cost of shipping and handling, most people are trying to be fair. I noticed one day that in the analysis of one of my sales, the invoice included a gap between what it suggested I would actually pay for shipping and what I had actually charged the buyer, and called it a fee. In fact, that was the actual postage that the post office quoted me, with the tracking fee (60 cents) added on if I had to go to the post office to mail it. So they're trying to keep shipping down by showing the behind the scenes math, though it is another thing I find off-putting about eBay.

SRS

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Scrump
Date: 10 Jan 07 - 11:45 AM

Well, yes, I've never had any problem using Paypal like some others seem to have. It's just that I object to them charging me commission on money that I have to spend on postage, which means in effect I am making a loss on the deal.

As for ebay sellers charging ripoff shipping charges, yes, I've suffered from that too. I just charge for the cost plus a small amount extra for the packaging materials, if I have to buy them (jiffy bags or whatever). In practice I usually have plenty of them lying around from stuff I've bought (at least, small jiffy bags and record mailers), so I can just reuse them and not have to charge the buyer. I only charge for bigger items where I don't have the materials already and have to pay for them.

Mind you, as a seller I once had somebody complain about the shipping cost because they didn't want me to charge for the packaging materials. So I said, fine - just send me a self addressed package and I'll use that. He did too, and it must have cost him more that way - but some people are stupid :-)

If I see a seller charging ripoff shipping charges I won't usually buy from them. I say 'usually' because I guess if it was something I really, really wanted I'd perhaps pay anything to get it (assuming I had the cash).

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST,Bruce Michael Baillie
Date: 10 Jan 07 - 11:31 AM

I've found paypal to be OK, I'm in the UK and work as a graphic designer but have several contacts in the USA and Canada who I do business with and have been using paypal to receive money for nearly a year now and no problems so far.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST, Topsie
Date: 10 Jan 07 - 11:18 AM

I have found that sellers often charge much more for post and packing than they spend on it (e.g. £5.99, when the packing would have cost a few pence and the postage came to 65 pence - not even recorded delivery = at least £5 extra profit). Maybe they are including the fee in their charges.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Scrump
Date: 10 Jan 07 - 10:49 AM

I used to use Paypal when I sold stuff on ebay (nothing much, just a few unwanted items now and again, mainly small items like books, records and the like). Like a lot of sellers, I used to ask buyers to pay a small amount extra, to help with the Paypal fees, and everybody seemed happy with this. (As a buyer of stuff on ebay, I was/still am happy to pay a bit extra for the convenience of using Paypal instead of having to post/mail off a cheque to the seller and wait for it to clear, etc.)

But when ebay took over Paypal, they forbade sellers from charging extra for using Paypal. That may seem fair enough, but for the fact that Paypal charges fees on the total amount of the transaction, not just the ebay selling price.

Now, if I sell a heavy book for a low price, say 1.00 GBP, it may cost me several times the selling price to post it to the buyer, especially overseas - let's say it costs me 5 GBP to post it to (say) the US from the UK (this is fairly typical). So I will charge the buyer 6 GBP in total.

Now, ebay will charge me around 0.20 listing price, plus another 0.20 GBP commission, and then Paypal will charge around another 0.60 GBP commission on the total amount (these figures may not be exact but they're roughly right - I haven't sold anything for a while so the prices may have changed a little).

Remember, I will have had to spend the 5.00 GBP on postage, so out of the 6.00 GBP I get from the seller, I only get 1.00 GBP (i.e. the selling price). Take off ebay and Paypal's commissions, and there is nothing left.

So Ebay is taking the lion's share, leaving me no profit at all. OK, I've deliberately chosen this example to illustrate my point, but you could even make a loss if the postage was sufficiently high.

In the old days, I would have asked the seller to pay the extra 0.60 GBP, so at least I would have kept the 'profit' after taking off the ebay commission.

The point I'm making here is that now that Ebay owns Paypal, it would be fairer to the seller if Paypal would only charge commission on the ebay selling price, not on the total amount.

OK, they're in business to make money, but it seems unfair to penalise the seller by preventing them charging the seller for using the service (which as I said, I found buyers - including me - were happy to do).

Does anyone else agree? I haven't seen anyone else object to ebay/Paypal's policy, here or anywhere else.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: sledge
Date: 18 Jun 04 - 03:44 AM

I now use it a lot, and as I recently commenced selling on ebay decided to accept payment that way as well. I have found it to be be the best way of doing business and the customers definatley like the fast turn around that it allows.

My only gripe is the length of time it takes to transfer money to your bank account from your paypal account.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Two_bears
Date: 17 Jun 04 - 10:05 PM

Capri:

I have been on Pay Pal for about three years, and have it hooked up to my checking account, and I have never had any problems with it.

I don't even transfer money from Pay Pal down to my checking account. I actually send money from my checking account UP to the Pay Pal service, then I use the Pay Pal credit card to pay virtually ALL of my bills (except for rent and electricity) with the Pay Pal card. and Pay Pal deposits money in my Pay Pal account for EVERY purchase I make with the credit card.

I will tell you a Great experience that happened to me after I received the card. I went on a trip to Marietta, Ga (about 4 days after I received and activated the card. then after I returned home; Pay Pal was on the phone wanting to know if someone had been fraudently using my card.

For me; the BEST thing about Pay Pal is that it makes balancing my checkbook soooooooooo easy.

I no longer have 50+ checks and debit card payments to work through. I take my transfer UP to Pay Pal. Two checks mentioned above, then four or five deposits from my job and the books I sell on Amazon.com.

I would HIGHLY recommend Pay Pal to you.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Two_bears
Date: 17 Jun 04 - 09:47 PM

I sell a lot of books on Amazon,com, and other sites (Amazon.com has their own way or processing Credit cards, so Pay Pal is not an option there.

When I sell books on Ebay, and a few other sites; I ALWAYS prefer Pay Pal. because their fees are very reasonable compared to other payment options. Bid Pay is a JOKE.

I have found Pay Pal to be secure, and with the Pay Pal credit card I get money back on EVERY purchase I make by credit card.

I have several things for you to remember.

1. I was ripped off by an Ebay seller, and since I paid for the item with Pay Pal, and Pay Pal was able to get the money back for me.

2. there is no cost of postage to mail the money order, money, or check.

3. there is no 99 cent charge to buy a money order.

4. there is no hassle of trying to cash an odd ball Mapco, Prudential, etc money order.

I think Pay Pal is great, and their fees are MUCH more reasonable that Western Union, Bid Pay, Billpoint, etc.

If you do use Pay Pal; select a good password. I use a LOOOOOONG password (more than 10 characters).

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: CapriUni
Date: 17 Jun 04 - 08:27 PM

Sorry -- been busy doing off-line, off Mudcat stuff

:::Gasp!:::

From Katlaughing: Capri-Uni, have you made any decisions, yet? Started your site, with services? I'd love to see it when you do. Good luck!

Well, I have not made any decisions about a website, or what have you, but I have made some decisions regarding PayPal.

Right now, I have one checking account, wherin all my money (except long term investments) resides -- USAA, which is headquartered in Texas, while I am here in VA. Mostly, this is not a problem, as their transactions can all be done electronically. But there are some local vendors who cannot accept out-of-state checks.

So, I am currently looking for a local bank with the right services for my situation... when I find it, I will set up a smaller, local account. And it is this account that I will link to PayPal -- so that if something funky does happen, and it messes with that account, it won't lock up all my money (and, that way, it will also be easier to keep track of the money that comes in from my writing commissions).

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: annamill
Date: 03 Jun 04 - 07:06 PM

Joe_F , I was about to also tell you that this was a spoof message and to beware! As rule of thumb (whateverthatmeans), I never click on the link in the email. I always go to the site and check out my account on my own. Though I don't have to anymore because now I know these emails are bogus.

Paypal. I sell a lot on ebay and I love Paypal and almost every item I have bought/sold has been paid by Paypal. Including some I have bought/sold in England and Canada.

Annamill

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Joe_F
Date: 03 Jun 04 - 06:51 PM

open mike: Your suggestion that the request from PayPal to reup was a spoof is interesting. If so, the perpetrators did a gratifyingly poor job of enticing me! %^) Unfortunately, I did not keep any of their harrassments, so I cannot check the address at this point.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: katlaughing
Date: 03 Jun 04 - 11:23 AM

vlmagee, thanks, very much, for the explanation and the link. The website looks very good and I like the way the store is set up so that one stays on that site to purchase, as you pointed out.

Do you have a website listing your services and fees?

Thanks, again,

kat

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: vlmagee
Date: 03 Jun 04 - 10:27 AM

I hesitate to comment because I am in a sense a "vendor", but I would like to answer. First, let me make it clear; my real life business is doing web sites and online stores, as well as other associated Internet based applications. For better or worse, that's what I do to earn a living. I also happen to be a folk music fan, and several of my web sites are for folk (or similar) musicians. One of them is the Hamilton Camp web site that I referenced in another thread this morning.

First, some information on PayPal. The big pitfall which is fact and not opinion is that once the BUYER has spend $500 on his associated credit card, he must give PayPal a bank account number. The buyer can still choose to charge payments to his card, but he must provide the bank account number to PayPal in order to continue to use it. For some people, this is a "not on your life" situation; some folks are still somewhat uncomfortable with giving out a credit card number to a "system" in the sky; giving out a bank account number ranks one level of discomfort above that. So even if your own sales are for books or music and small ticket items, a buyer who buys even one home appliance online can easily reach the limit.

On to less factual comments. For the above reason and others, PayPal is generally considered an informal and personal method of payment. Most businesses would prefer to establish their own merchant account (yes, there are significant costs) or to use a service other than PayPal to accept payment for them. There are several large services that do this in specific markets, such as to sell books or CDs. Basically, that is what I do, but my service is different in that the store screens look just like your site so that the entire payment process is fully integrated. By contrast, most if not all of the other solutions (including PayPal) take the buyer to a page on their site which looks like their site not yours (it might have your name and logo). In many cases the page on their site has links to other competing businesses (not PayPal, but others).

For some buyers, buying from a store that looks like your business and not from a larger, impersonal service makes them more likely to order.

When you use one of these services (mine or others including PayPal) the money that is transferred from the buyer (usually his credit card, but it can be his bank account with PayPal) and flows into a merchant account belonging to the service. That service either allows you to transfer the money to your account (as does PayPal), or pays you at some specified frequency. Your comfort level depends on your trust in the service you are using. In all likelihood, the major services are honest and hopefully their accounts are escrowed (which means if they go belly-up their creditors can not touch the money in the merchant account because it is yours not theirs), and the system will work for you. You make your choice based on the services they offer you, and the experience you have when you deal with them.

When I do an online store for someone, I charge for setup and take a percentage of each sale. The banks and the payment processor (the intermediary who handles the tranfer of the money) take their cut too. I have one single merchant account which is shared by all my customers; the cost of a merchant account - if you can get one - runs just under $1000/yr including the certicate you need so that you can operate in secure mode (to protect the information you transmit - eg, the credit card number). A large business - one with tens of thousands of dollars or more of online business a year - will choose to get their own merchant account so that the money flows directly in their own bank account. A small business can not justify the expense of doing that. I have one customer who has his own merchant account.

PayPal's rate to you is pretty much the bank fees with only a tiny bit added on for their profit. Of course, at their size, they need only make a few cents on each transaction. It makes it tough for the little guy (or gal) to compete unless the potential seller considers the total service and how it might increase his overall sales.

So, more than you wanted to know and I apologize for what some will consider to be "marketing". However, since this is my business, I do know how it works and am happy to answer questions.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST,Hessy
Date: 03 Jun 04 - 12:54 AM

I did a lot of research before getting a paypal account. Most of the people who had their accounts "frozen" had a lot of money in their paypal account. Paypal seems to get suspicious once a person has more than $2000 in the account, or if they try to pay or receive more than $2000.

So just keep everything below that and you should avoid that particular problem.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: open mike
Date: 02 Jun 04 - 07:27 PM

"About a year later, PayPal changed its contract & decided that everybody had to sign up again."---
this sounds like the way the spoof messages are worded..
i have never remembered pay pal changing the contract..
some spam messages say send your personal info in again
including password, account numbers, credit card numbers, etc.
this is BOGUS! i think you might have gotten one of those
messages...if you see where they go, they DO NOT go directly to an authorized pay pal site...i get these all the time from "citibank"
too .

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Blackcatter
Date: 02 Jun 04 - 07:08 PM

Here's my problem with Paypal:

I sell a fair amount of stuff on Ebay. 2 years ago I sold a Fender amp for around $250. I received the buyers money through Paypal and I dutifully shipped the amp. The buyer claimed that he had not recieved it a week after it was sent and complained to Paypal. Paypall took the selling amount out of my Paypal account (I hadn't transferred the money out of that account into my personal bank account). 2 days later the buyer emailed me and told me he had just received the amp. I reported that to PayPal, but they refused to do anything to give me the money. Even with me forwarding the buyer's email with him admiting he recieved the amp.

So I was out $250. I had a lawyer look into the issue and the contract I signed when I joined allowed them to basically do that. I could have sued, but what's the point.

They then labeled me as a risky merchant. Yet the refused to allow me to close my account.

If you use it, pull money out of the account ASAP. Maybe you'll be fine, but they are focused on protecting the consumer NOT the merchant. The simple fact that 80% of tranactions of that nature go through them shows they cannot be trusted. Espeically since they have such a hugely insestuous relationship with Ebay.

----------

By the way, I no longer allow anyone outside the U.S. and Canada to bid on my auction items - 20% over 3 years of selling would win and never send payment or want me to jump through hoops if they did. Less than 1% of buyers in the U.S. and Canada are like that according to my sales.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: Joe_F
Date: 02 Jun 04 - 07:03 PM

About 2 years ago I managed to sign on to PayPal, with some difficulty, and made one transaction. The difficulty was no doubt largely my fault -- I am weird in a number of ways & have to be told things that other people find obvious -- but was exacerbated by the hardnosed help facilities. At one point I was directed to a Web site that did not exist, and every email I got was machine-generated and contained a stern warning not to try to reply to it.

About a year later, PayPal changed its contract & decided that everybody had to sign up again. The header of the email containing that announcement was worded as if I had made some sort of mistake & needed to correct it. That, I dare say, was somebody's clever idea of making sure everybody read it; but I took offense & decided to close my account. As far as I could discover, there was no way to do so. So I put up with a month or so of automated threats to close my account if I did not reply, and eventually PayPal stopped bothering me.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: katlaughing
Date: 02 Jun 04 - 05:52 PM

Capri-Uni, have you made any decisions, yet? Started your site, with services? I'd love to see it when you do. Good luck!

kat

Subject: yocow
From: GUEST
Date: 28 May 04 - 02:14 PM

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: ddw
Date: 16 May 04 - 12:09 PM

This thread tweaked my interest be cause I'm in the process of starting an online business and I've found the discussion quite valuable.

The naysayers seem to be fairly vociferous in their dislike of PayPal, but what struck me was that most of their complaints seemed to center on the fact that PP isn't doing anything to stop spoofers and the odd claim that some manager is running spoof sites.
The latter made me wonder if we're not dealing with disgruntled ex-employees, since presumably managers in the company would have access to the real accounts (or could get it pretty easily) and wouldn't need to set up spoof sites to get info on customers fraudulently.

If the company actually has 40 million customers and this is the level of complaints, I think it must be doing something right. A look at some of the other anti-PP sites just reinforces my thought that you could probably find as many sites badmouthing pie ala mode — and certainly ones down on any commercial/financial operation.

Thanks to all for helping me tackle my dilemma over payment methods. I think I'll probably use PayPal.

cheers,

david

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: katlaughing
Date: 15 May 04 - 12:38 PM

CU, I just made my first PayPal sale, two of my books to Banjo Bonnie/Little Neophyte (Thanks, Bon!), and it seems to have worked fine.

The only thing is, the way I read it, I could choose to have a "free" account and receive monies, but when I clicked to "accept" her payment, it told me I had an unverified acct. and would have to get it verified, which means registering a checking acct. with them, before I'd actually get the funds minus a small percentage for them. (Maybe this is for credit card payments only?) So, I am in the process of doing that, just waiting for their tiny (few cents) deposit and email to confirm.

Thanks,

kat

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: GUEST,Tangerinne
Date: 20 Apr 04 - 08:29 PM

Have you seen yowcow.com security page???????
Does it mean I can finally pay and get my stuff or a refund? Does anyone else do this?

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: CapriUni
Date: 20 Apr 04 - 02:31 PM

Robin --

Well, I'm not ready to make a firm decision pro or con, yet... I'm just gathering info to make sure I have all I need in order to make a decision when the time comes.

Personally, I'm beginning to think PayPal is a bit like democracy in one way, at least: It's a terrible system, but better than all the alternatives.

(maybe).

And when you're dealing with money, nothing, I'm afraid, is risk-free.

Subject: RE: BS: PayPal: Payoffs vs. Pitfalls?
From: The Fooles Troupe
Date: 20 Apr 04 - 11:48 AM

Been thinking of selling some of my books, etc via Ebay. Was thinking of Paypal, but neither them or other systems now give me any confidence, especially this brilliant idea of freezing teh account and emptying it! For the moment I shall stick to International Money Order (USPS in USA. Aust Post in Aust) or even perhaps Western Union, which now have agencies, often at Aust Post. I wonder which is cheaper for US customers... Western Union may be faster, as the IMO would have to be physically sent by Air Mail at least, I suppose.

Robin