Gentlemen, check you Paypal account

You'd never know they do this kinda thing, right?

http://www.cnet.com/news/us-regulator-orders-paypal-to-pay-25-million-in-refunds-fines/

 

I guess, for once, PayPal lost a dispute .

 

Happened to me, sent a nominal amount to my son in college, had a PP balance and was used to that being the default payment with my CC as back up

End of the month comes and I had a bill in PP credit I never even knew existed. After 2-3 calls and 3-4 reps was finally able to get it sorted

PP is not my favorite . . .

 

and some wonder why I do not want to accept PayPal payments...

 

Besides this, which never happened to me and I'm a heavy PayPal user...what is your beef with PayPal?
Its a great, safe and instant way to send and receive money. I avoid sellers who shun this form of payment...its usually a red flag.

Ive been using it since the beginning and have never had a single issue...literally thousands of transactions.

 

I've had issues with PP in the last week or so, and am seriously considering canceling my PP MC and PP account.

 

My beef is that they almost caused me to lose over $5000 and much aggravation.
Just try to get an expensive item from a buyer in another state after they received their money taken by force from your account before even returning the item!!!
You can read plenty of horror stories on the Internet of sellers losing big money due to friendly fraud perpetrated by buyers paying by PayPal.

 

and what is so great about giving them 3% commission?? On a $10,000 watch that is $300 when a wire transfer can be had for $40 split among a buyer and seller.

 

Not a huge fan of PayPal, but they will get your money back if you pay for something and don't receive it. Wire transfers may be cheap, but they're completely irreversible.

 

Do you know what is required to open a business bank account in the U.S. ?
How many businesses in existence of 15 years and above just wait to take your money and run?
Let's be real, this paranoia about only trusting PayPal or a credit card payment is laughable.
You end up paying a lot for that fear.
Try to put an ad in your local craigslist and list a Rolex or another expensive watch.
See how many e-mails you will receive from " buyer" who want to use PayPal to pay for
the purchase... Why do you think that choose this route? Because they know they can defraud you
and you will be powerless to get the money back from PayPal.

 

One word- Credit Cards...ok two words.

With PayPal, I can use a cc and earn miles and defer payment for 30 days and gain added protection. Im a buyer not a seller.
Sellers need to consider the buyer...what would happen if your local watch retailer said cash or wire transfers only?
They would go out of business.

PayPal is the safest method of transferring funds period.

 

Ditto...I never had an issue either. Ive seen the option, but it was never forced on me.

 

sometimes common sense is your friend. I have never had one single issue with fraud. But I would never accept PayPal when selling on Craigslist...its pretty much understood its a cash venue---and selling expensive watches on Craigslist is asking for trouble.

 

I have promised myself never again to accept a PayPal payment exceeding 1000 USD. Buyers who won't accept that will have to buy elsewhere

 

I love PP, and I've been protected from dodgy sellers quite a few times. As for their fee, it's nothing compared to eBay. Here in Australia, EB charges an outrageous 10% selling fee, capped at $250. That's $250 to sell a $3000 watch! 10% is outrageously unacceptable if you ask me.

 

Why?

 

There are no transaction fees her on OF.net

 

So there are at least a couple issues in this thread, good talk

Caveat Emptor. Buyer (amongst other things) needs to read PayPal statements, well, religiously, to try to keep abreast of any shenanigans ....

We can't get away from transaction fees. But there's a somewhat safe middle ground for ppl of goodwill to complete a transaction ... I would think.