OT - Pay Pal - Pros and Cons

[SleepingBearDoNtWake]

I am all for pay pal. It's safe and easy.
The one Con that I had was that I ordered ordered olive wood beads that came from the holy land to make rosaries and chaplets for some sick friends. I never recieved the item. I emailed the company that was selling the items to me and said they were on back order. I didn't have any problem with that, as things are back ordered all the time. Well, after waitng another 2 week or 3 weeks I emailed the company to get a status update on my items, and they never replied back.
So I emailed Pay Pal and they wouldn't help because it was past 45 days or what ever there time frame they set to assist you. So the only thing I will say is find out what the lenght of time that pay pal protects you, and make sure you get the item in that time frame.
I still use pay pal for everything, but that is my one warning.
As for the company, I never got my money back, but I did go after them, reported them to the BBB and even a fraud site that I found run the goverment, and they have been shut down! Hopefully, they locked them away, but at least that one site was taken down. There will always be people out there tryng to take advantage of you, and the same people probably put up another site, within days of the first one being taken off line, but I have limited power. LOL
Mike

[archangle]

If you receive funds through PayPal, they can reverse the transfers and pull the money out of your account later. I don't know if there's a time limit.

PayPal is famous for doing this capriciously or accidentally and taking forever to resolve the dispute and restore the funds. They're particularly bad for deciding you violated their terms by selling some forbidden item and will seize your funds and be hard to pry the money back out of them. It wouldn't surprise me if they decided CPAP equipment was a violation of some policy aftger the fact and took the money back.

Don't link PayPal to your main bank account, you may find that your checks start bouncing with no prior notice because PayPal drained your account.

Also don't let a large amount of money sit in the linked account.

PayPal has also recently required you to agree to give up your right to sue them. You have to go to binding arbitration. Arbitration is a capricious process heavily biased in favor of the big companies.

[SleepingBearDoNtWake]

•How PayPal helps resolve a problem
We want to help make sure that all transactions go smoothly. So we've set up the Resolution Center to help buyers and sellers to communicate and resolve their issues. The three main reasons to use the Resolution Center:

•You didn't receive an item that you bought using PayPal.
•You received an item that was significantly different than the seller's description.
•There is activity on your account you did not authorize.

•What to do: item missing or arrived different than described
If you pay for an item but it never arrives or shows up significantly different from the way the seller described it, go to the Resolution Center. Here you can communicate directly with the seller.

If you purchased the item on eBay, use the eBay Resolution Center.
•Opening a dispute
In the Resolution Center, you can dispute the purchase. That means you're notifying the seller you're not satisfied with the purchase and want to resolve the issue.

Here's how:

1.Log in to your PayPal account.
2.Click Resolution Center.
3.Click Dispute a Transaction.
4.Click Item Dispute, then click Continue.
5.Click Select Transaction ID.
6.Change the dates to find the transaction you want to dispute.
7.Click the Transaction ID associated with the payment.
8.Click Continue, then follow the instructions.
There are 2 kinds of disputes that you can open in Resolution Center:

Item Not Received - You bought something, but didn't receive it. Wait at least 7 days from the transaction date to give your seller enough time to ship the item.

]Significantly Not as Described - You received an item but it was significantly different from the seller's original description.

You have 45 days from the date you purchased an item to open a dispute. If you choose to escalate your dispute to a PayPal claim, you need to do so within 20 days of opening the dispute. Otherwise it will be closed automatically.
•Escalating your dispute to a claim
If you and the seller are unable to reach an agreement on your own, either of you can escalate it to a claim. That means we'll decide whether you are eligible for a refund.[/b]
Here's how to escalate to a claim:

1.Log in to your PayPal account.
2.Click Resolution Center.
3.Locate your case and click View in the action column.
4.Click View next to the dispute you want to escalate.
5.Click Escalate this dispute to a PayPal claim near the bottom of the page.
6.Follow the instructions.
7.Click Escalate to a claim.
Remember:

•A dispute will automatically close if you don't escalate it to a claim within 20 days.
•Closed disputes cannot be reopened or escalated to a claim.
•When you escalate to a claim, PayPal reviews your case and decides whether the buyer is eligible for a refund. (Usually within 30 days.)

To learn more about the dispute and claim process, go to the Resolution Center and click the How to Dispute a Transaction tutorial.
•Unauthorized Account Activity
We investigate all reports of unauthorized account use. If we find that your account was used without your permission, we refund any charges that you did not authorize. The money is returned to your PayPal account.

We try to resolve claims of unauthorized account use within 10 days, but some cases may take longer, depending on the kinds of information we need to gather.

[Starlette]

Due to your comment Archangle, now I feel I did something very bad. In short, they cannot be trusted.

[zoocrewphoto]

I have had a paypal account for a LONG time, I'm guessing 15 years or more. I have only had one problem, and that was a customer in Canada who insisted he never got the item.

I have my checking account linked, and I have had no problems. They have never taken money from my account other than when I authorized a payment. I have a paypal debit card that I can use in stores. I can buy things from ebay sellers with paypal (I won't use any other method of payment). I can sell things and have people pay me with paypal. I can pay my cat show entry fees with paypal. I can send money to friends when we are placing a larger order together. I use it on a regular basis.

[Lizistired]

If you are just doing random purchases, you don't have anything to worry about. PayPal is very convenient.
PayPal can block sellers and freeze their accounts and all their money. They did it with electronic cigarette sales when they decided to forbid them. Yeah that sucked but you probably aren't doing that. If you just want to be able to conveniently purchase stuff online or send money to family members, go for it. It's easy.

[archangle]

I have had a paypal account for a LONG time, I'm guessing 15 years or more. I have only had one problem, and that was a customer in Canada who insisted he never got the item.

I have my checking account linked, and I have had no problems. They have never taken money from my account other than when I authorized a payment. I have a paypal debit card that I can use in stores. I can buy things from ebay sellers with paypal (I won't use any other method of payment). I can sell things and have people pay me with paypal. I can pay my cat show entry fees with paypal. I can send money to friends when we are placing a larger order together. I use it on a regular basis.

Yes, they're very good until you get caught in the gears of their machinery, chewed up, and spit out in little bitty pieces. That only happens to a small percentage of the people who deal with them, but that won't be a big comfort if you can't pay your bills and your checks bounced because PayPal didn't like some of your past transactions and drained your checking account without warning.

Don't link a bank account you can't stand to lose to PayPal. I'd probably say you shouldn't even link them to a different account at the same back as your main bank accounts. I wouldn't be surprised if they have some agreement that lets them drain all your accounts at the same bank when there are electronic transfers involved.

By the way, if you have your paycheck, pension check, etc. deposited electronically, the payor on those transfers can often reverse the payment without warning as well.

[Lizistired]

Arch, unless you have specifics to relate, stfu. You are just out there and that's not like you.

[archangle]

Arch, unless you have specifics to relate, stfu. You are just out there and that's not like you.

I know the owners of an Internet business who had a significant amount of money sucked out of their account after PayPal decided after the fact that their business violated the terms of their agreement. Never mind that PayPal knew what the business was, had dealt with them for years, and had never objected before. Without any notice, they removed money from past transaction. Not "stop doing what we don't like, and find another payment processor" it was "we now decided that we don't like what you're doing and we're seizing the money you've already made for your perfectly legal transactions we never complained about before and for which we deducted our fees for years."

They did eventually get their money, but it was many months later.

I'll be eating lunch with one of the principals next week like I do once a month or so.

In the meantime before telling people to STFU, please do a little research yourself.

http://forums.oscommerce.com/topic/3613 ... by-paypal/
http://money.howstuffworks.com/paypal7.htm
http://www.paypalsucks.com/
http://www.cathinfo.com/catholic.php/Pa ... on-website

Also, Google "Paypal account seized" or similar search terms.

If you read the Internet trade press, there are frequent reports of sellers having their accounts seized apparently capriciously. When the online magazine site gets PayPal to respond, you'll pretty much find yourself agreeing with the PayPal victim.

By the way, read Section 10.2 of the PayPal User Agreement. https://cms.paypal.com/ie/cgi-bin/?cmd= ... ement_full

[Heavylids]

Like everything else in the Internet horror stories of eBay and PayPal are exaggerated and faked for effect.

It always happens to a friend of a friend or some other person four degrees away and can never be verified.

I'm sure both businesses, like every business we deal with in real life, make errors occasionally. Just don't fall for the urban inter-web legends! PayPay is perfectly safe. If you do decide to violate their TOS then expect problems.

[BlackSpinner]

Arch, unless you have specifics to relate, stfu. You are just out there and that's not like you.

One google search will turn up LOTS of instances.

Which is why I said to open an account specifically for PayPal.
This is basically internet savvy. Don't link your every day money to the internet.

Any bank or credit card company can and has basically done all the same things. Any credit card company who suspects you might be dealing with "adult" material or what they deem is inappropriate business can freeze your bank account. Not even talking illegal here. We can be talking hand dyed sock yarn company that has a run on their goods after a successful show. THEY decide that it must be porn (also not illegal). YOU have to prove it is not. With internet payment processors you are guilty until proven innocent. Paypal will make you destroy antique violins if you feel you got charged to much. Lots and lots of incidences on the net. Savvy buyers also screw the sellers by making reverses on their credit cards saying they were not satisfied and not returning the goods or in case of video purchase there is nothing to return. If they do that too often you will lose your credit card processing ability.

[BlackSpinner]

Like everything else in the Internet horror stories of eBay and PayPal are exaggerated and faked for effect.

It always happens to a friend of a friend or some other person four degrees away and can never be verified.

I'm sure both businesses, like every business we deal with in real life, make errors occasionally. Just don't fall for the urban inter-web legends! PayPay is perfectly safe. If you do decide to violate their TOS then expect problems.

They are far worse then what you actually find on the web, it is just the tip of the ice berg. Most companies that are the victim of the payment processors are small and some go under because they survive on a narrow margin.

Oh and these aren't friends of friends, I know some of them very personally.

By the way the TOS can change on a whim. Most of the TOS violations aren't and are not illegal business practices. They are attempts to control social and political activity.

[chunkyfrog]

DH uses cash cards that he has to load "manually", as he refuses to link anything to a bank account.
Same reason we always lock our car. Just as well not give them the chance.
The wrong people already know how old you are; it's like having a target on your back.
Good people are all around, but so is temptation.

[StuUnderPressure]

What does PayPal charge to send money to a family member? I can send money to a family member via my credit union savings account to my family member's bank account at NO CHARGE.

You can also send money to anyone using your Smart Phone.

[Slinky]

That key word is "smart" phone. I have one. Only because my son gave me one. The only thing I know how to do w/it is make and receive phone calls. And at first I wasn't even good at receiving phone calls. I wasn't used to having a cell phone and didn't actually want one so it would ring and I wasn't even aware it was mine ringing. He had to set me up w/my own ring tone. I picked The Entertainer. When I hear The Entertainer I'm pretty sure it is my phone that is ringing. Doh!