Who else is done with paypal?

[stien]

After waiting several days for $250 to return to my account (a refund from velomine, cancelled an order), I'm pretty peeved at paypal and am thinking of just ditching them altogether. I realize they wrote this "temporary hold" business into the contact but I'm just done. It's senseless.

Anyone else leave paypal for something else, or for nothing?

It sure would cut down on extraneous purchases and I'd support my LBS more (although I've gotten to the point where I'm in there so much they've started giving me price cuts and freebies).

[witcombusa]

Wouldn't do a lot of the online purchases I do without paypal.

Haven't had a problem of note in a lot of years of moderate use.

Works well for me!

[tuscanyswe]

I had a similar thing happen when i waited for cash to come back in from paypal. It did eventually. Think its when you have paid via cc that the refund takes a bit longer to get back.

And yes im tired of paypal and their fees and crappy exchange rates from swedish to usd but there really isent much else out there, atleast not to my knowledge.

[stien]

I had a similar thing happen when i waited for cash to come back in from paypal. It did eventually. Think its when you have paid via cc that it takes a bit longer to get it back.

This was direct from my bank account instant transfer. Was gone immediately after I made the purchase. The reasons they state for 5-7 days is that they have to wait for banks to transfer the funds.

[pinkshogun]

i did 2 similiar transfers the past couple months. pp did say it will take 3-4 days and it did

[tuscanyswe]

This was direct from my bank account instant transfer. Was gone immediately after I made the purchase. The reasons they state for 5-7 days is that they have to wait for banks to transfer the funds.

I see. FYI you should never use or link your bank account with paypal. I would never. Much better and safer to use a CC via paypal. That way you can also claim your money back via your CC company if paypal wont back you if things go wrong with a transaction / deal (god forbid).

[stien]

I see. FYI you should never use or link your bank account with paypal. I would never. Much better and safer to use a CC via paypal. That way you can also claim your money back via your CC company if paypal wont back you if things go wrong with a transaction / deal (god forbid).


I'm learning this the hard way! Thanks.

[witcombusa]

I see. FYI you should never use or link your bank account with paypal. I would never. Much better and safer to use a CC via paypal. That way you can also claim your money back via your CC company if paypal wont back you if things go wrong with a transaction / deal (god forbid).

"you should never"

I have had ZERO problems with this mode. Less CC action is the more desirable option for me.

[Fishbike]

Thanks for the reminder. I returned a duplicate iPhone order through my company and charged to me two months ago. Verizon still has not issued the $230 credit. They have the phone. How tough is it to issue the credit? They told my office services manager it may take two to three billing cycles. WHat!!!!???? PayPal is not alone.

[tuscanyswe]

"you should never"

I have had ZERO problems with this mode. Less CC action is the more desirable option for me.

Maybe never was a strong word. Did you have any troubles with transactions when having bought with this account? Before issues with transactions i dont think it matters at all. But if things go wrong and you file a claim that paypal does not rule in your favor on, thats pretty much it. When paid with cc you can claim with the cc company as well. Paypal is somehow suppose to be on both parties sides in a dispute since both parties are their customers. It does not compute for me.

[sales guy]

I've hated paypal for years. Been screwed by them out of thousands of dollars. Buyers claiming they never received the package yet I had delivery confirmation with a signature!

If there was a valid and solid alternative, I would use it.

[rccardr]

Early adopter, heavy Premium user. No problems for me that are any different from the same kind of random things that happen with banks and credit card companies from time to time. Me likey!

[ColonelJLloyd]

"you should never"

I have had ZERO problems with this mode. Less CC action is the more desirable option for me.

+1 How else do you get your money from PayPal? They send you a paper check?

[tuscanyswe]

+1 How else do you get your money from PayPal? They send you a paper check?

You can take money out too?? Since i only use pp for bike stuff ive never taken out a penny from that account. I know i will just buy more bike stuff. I thought thats what everybody did :banana:

[pbarry]

I've hated paypal for years. Been screwed by them out of thousands of dollars. Buyers claiming they never received the package yet I had delivery confirmation with a signature!

If there was a valid and solid alternative, I would use it.

Yes, this is a wide open market for another big player with better customer service.

[Ken Robb]

Some years back I attempted to withdraw $$ from my PP account fr stuff I had sold. All I got was "Ben Hacked" with no $$ in my account. The tedious procedure to file a claim was more than I wanted to do for the money involved but that was the end of my buying/selling via PP.

[m_sasso]

Why are people not using Google Wallet, for me Google Wallet provides every thing PP offers and much more. I can certainly get my money when I need it, I can even get cash back from gift cards.

http://lifehacker.com/use-a-google-wallet-card-to-withdraw-cash-from-visa-gif-1490240324

[ultraman6970]

What ultra have noticed is that people that tend to sell a lot and have the habit of taking all the money off the account to their banks accounts looks like have more problems than people that leave the money there or move partial amounts to their banks.

[jh_on_the_cape]

Deal locally!
I thought PayPal holds funds for a few days to make the interest.

After waiting several days for $250 to return to my account (a refund from velomine, cancelled an order), I'm pretty peeved at paypal and am thinking of just ditching them altogether. I realize they wrote this "temporary hold" business into the contact but I'm just done. It's senseless.

Anyone else leave paypal for something else, or for nothing?

It sure would cut down on extraneous purchases and I'd support my LBS more (although I've gotten to the point where I'm in there so much they've started giving me price cuts and freebies).

[witcombusa]

Why are people not using Google Wallet, for me Google Wallet provides every thing PP offers and much more. I can certainly get my money when I need it, I can even get cash back from gift cards.

http://lifehacker.com/use-a-google-wallet-card-to-withdraw-cash-from-visa-gif-1490240324

Google is truly one company I want to have NOTHING to do with!

[Kirk Pacenti]

Yes, this is a wide open market for another big player with better customer service.

Though it's primarily designed for businesses, Intuit Payment Network has been working well for me. They only charge a $0.50 transaction fee, whether it's a $10.00 or $10,000.00 transaction. Regular consumers can send money, but I am not sure they can receive money...

I have been hounding Intuit for a 'shopping cart' so I can take greater advantage of it. Fwiw, I hate paypal too. I use it as little as possible, maybe a couple times a year. I too assumed that PP holds money to earn interest. I wouldn't be surprised if they were holding several hundred million - to a billion dollars at any given time. Even at today's measly interest rates, that kind of money could earn a nice chunk of change.

Cheers,
KP

[tele]

The few times I have used Dwolla it has worked perfectly...just that not a lot of people use it. I am not a fan of PP but it has become the default. If something else came along or became more accepted like Dwolla I'm all for it.

[Ralph]

How they make money. http://netforbeginners.about.com/od/ebay101/ss/paypal101_2.htm

They are just a business.

[oldpotatoe]

Wouldn't do a lot of the online purchases I do without paypal.

Haven't had a problem of note in a lot of years of moderate use.

Works well for me!

Me too, tied to a CC#, not a bank account. Personal one, but used it when I owned the shop..Somewhat cumbersome to get $ via a paper check but never more than about a week.

If the option when I buy something is CC#or paypal, if I'm new to that site ..then onto a CC# that paypal has..I do that. I feel more comfy with paypal security than with a website I have never been on before.

[oldpotatoe]

Why are people not using Google Wallet, for me Google Wallet provides every thing PP offers and much more. I can certainly get my money when I need it, I can even get cash back from gift cards.

http://lifehacker.com/use-a-google-wallet-card-to-withdraw-cash-from-visa-gif-1490240324

Maybe that has something to do with it.

[FGC]

I use Dwolla a bunch. I highly recommend it. I've used it for transactions here and I use it a lot now for people to make payments to me for my services. It takes a few days but I'm a patient guy.

[malbecman]

I have it linked to a bank acct ( not my primary one) and just use it to fund online purchases when PP is an option and to send $ to people when I owe them something (and vice versa). I've never had a problem. ALL banks need to make $$ and will do whatever they can to get a little $$ here and there. It's just the nature of the banking biz since ancient times.....

[tribarbet]

I got a "temporary hold" too for returning something. It took about two weeks to get my refund, but I got it. Paypal is fast taking your money, but slow giving it back (like many other institutions). However, it has worked fine for me.

[Idris Icabod]

It seems like industry standard to take money instantly but take days to return it, I left Wells Fargo for this very reason but I switched to Bank of America and they are the same way. So I kind of expect PP to follow the same business model and give themselves a few days of interest before coughing up your money.

I use PP quite a lot to send money to the UK, all of my family is there so it is a good way to pay for gifts, the exchange rate is better than a bank and it is free.

My wife and I were talking about PP last night and her favourite feature of it is that if she is couch surfing and wants to buy something and can't be bothered to get off the couch and walk the 15 feet to get her credit card she can pay via PP. So there you have it, PP is ideal for lazy people who can't be arsed to walk a short distance to their wallet.

[malbecman]

Dude, complaining about financial institutions is so like 2,000 years old.....don't cha remember Jesus throwing the money changers out of the temple??? :banana:

[oldpotatoe]

Dude, complaining about financial institutions is so like 2,000 years old.....don't cha remember Jesus throwing the money changers out of the temple??? :banana:

What kinda bike did he ride?

[veggieburger]

I've hated paypal for years. Been screwed by them out of thousands of dollars. Buyers claiming they never received the package yet I had delivery confirmation with a signature!

If there was a valid and solid alternative, I would use it.

I'm also a hater. At my last job, we used Paypal for 90% of our transactions, and we'd get screwed frequently. Even if you can prove signature received, PP doesn't necessarily find in your favor. Also, if you ever need to withdraw to a different currency (paid in CDN funds, move to US or vice versa), their exchange rates are criminal.

Unfortunately, PP is so universal, it's almost a necessary evil...

[Bkat]

jh_on_the_cape is right. They make money by sitting on your money. In many cases, it does seem a bit excessive. But even American Express plays that game. They basically have an interest-free loan with which to operate.

Even back in the pre-internet days, there were a slew of mail order companies selling cameras and such that didn't make their profit on the item they sold. They made it by cashing your check, then ordering the item from their supplier, shipping it to you a week later, and then not needing to pay their supplier for 30 days. So playing with other people's money is an old racket.

[Don49]

Well, there's always Bitcoin. I wonder if PayPal feels the threat.

[Ralph]

When you return an item to a vendor, and that vendor gives you a credit back thu the system you purchased thru....be it a regular CC, or Paypal.....the credit will hit the system before the money does. So while Velomine may have credited you immediately, that does not mean Velomine gave up the money immediately. And the system works on business days, not total days. So I can very well see how a delay occurs in the system. PayPal cannot give you back your money until they have been given back the money to give to you. And that can take a few days longer than you might think. And remember....weekends and holidays....non business days don't count. Is this a way to build in some extra profit for them? No...at least not on purpose. They may make some extra profit on this, but it's mainly a way they cover their butts from losses.

If you go into a bank and make a deposit of someone's check, you get credit for it immediately. But if that deposit check bounces, that bank may not know about that for 5-8 days. So unless you have other funds to cover that check, or overdraft proptection, they can't give you that money back in cash for a while, even though your account was instantly credited. Just because your account was instantly credited, does not mean they got the money yet.

And no....I don't work for a bank. I just understand why they put holds on stuff. I would too if I were them. They have to be especially careful of clients who operate pay check to pay check. Those who carry large balances, who have a credit card, or line of credit anchored by a home, are not so risky to them.

My main complaint with Paypal is how they side with buyers. But still use them all I can. I would rather use Paypal on an Internet purchase than a regular CC. Put them between me and my CC. And on International purchases, I think Paypal exchange rates are considerably better than my bank card. Paypal is just a business. No one is forced to use them.

[malcolm]

I seldom use paypal any more. At some point I reached some magical number of dollar transactions, I think 10k and they would no longer let me send money without linking my account to a checking account. I could/can still receive funds but can't send. I refuse to link paypal to my primary checking and I don't see having a separate one, so I just don't use them any more. I assume this standard still exists I've not tried to send money with them for several years.

[Ralph]

I seldom use paypal any more. At some point I reached some magical number of dollar transactions, I think 10k and they would no longer let me send money without linking my account to a checking account. I could/can still receive funds but can't send. I refuse to link paypal to my primary checking and I don't see having a separate one, so I just don't use them any more. I assume this standard still exists I've not tried to send money with them for several years.

It's possible, and likely, that some of their policies are in place because of the Fed money laundrying rules. They have to "Know their customer", and linking that customer to a bank account might be one way they adhere to Fed rules. I think they are required to begin some kind of survelance when deposits (and thus transfers) hit $10,000. Not sure about that. But do know Investment Brokerage accounts come under same rules and scrutiny.

[12snap]

Though it's primarily designed for businesses, Intuit Payment Network has been working well for me. They only charge a $0.50 transaction fee, whether it's a $10.00 or $10,000.00 transaction. Regular consumers can send money, but I am not sure they can receive money...


Intuit's pricing is not quite that simple. They charge 1.95% for each transaction that you swipe a card and 2.98% for each transaction that you key in the number. That's in addition to a $0.30 charge for each authorization. There's a minimum charge of $12.95 per month. They'll also charge you a PCI (Payment Card Industry) Compliance fee annually based on the number of transactions. It could be an option for a business but I don't see it being economically feasible for a general consumer.

[parco]

I prefer not to have anyone in the middle of a transaction. I usually use a US Postal Money Order. I know it's a little more difficult to have to go to the post office to get one but I don't need a middle man involved in my transactions.

[oldpotatoe]

I've hated paypal for years. Been screwed by them out of thousands of dollars. Buyers claiming they never received the package yet I had delivery confirmation with a signature!

If there was a valid and solid alternative, I would use it.

Sounds like the problem is the lying buyer or crappy deliverer, not Paypal, IMHO.

[Kirk Pacenti]

Intuit's pricing is not quite that simple. They charge 1.95% for each transaction that you swipe a card and 2.98% for each transaction that you key in the number. That's in addition to a $0.30 charge for each authorization. There's a minimum charge of $12.95 per month. They'll also charge you a PCI (Payment Card Industry) Compliance fee annually based on the number of transactions. It could be an option for a business but I don't see it being economically feasible for a general consumer.

Intuit Payment Network (https://ipn.intuit.com/login/home) is different than their card processing services, which I have also used in the past. I've been using IPN for *about* a year and it's literally $0.50 per transaction.

Cheers,
KP

[veggieburger]

Sounds like the problem is the lying buyer or crappy deliverer, not Paypal, IMHO.

True, except Paypal claims to have all kinds of built in protection for buyers and sellers...they give you the parameters, then don't really uphold them.

And getting through to them on the phone. That's fun.

[malcolm]

It's possible, and likely, that some of their policies are in place because of the Fed money laundrying rules. They have to "Know their customer", and linking that customer to a bank account might be one way they adhere to Fed rules. I think they are required to begin some kind of survelance when deposits (and thus transfers) hit $10,000. Not sure about that. But do know Investment Brokerage accounts come under same rules and scrutiny.

That is true for deposits to a banking institution, deposits of 10k or greater are reported to the federal authorities.

If paypal is doing it to thwart money laundering at least in my case it was not a very effective scheme as it took me several years to launder 10k. I would have to live to be 150 to launder a significant amount of money. Who knows though you may be right.

[12snap]

Intuit Payment Network (https://ipn.intuit.com/login/home) is different than their card processing services, which I have also used in the past. I've been using IPN for *about* a year and it's literally $0.50 per transaction.

Cheers,
KP

Interesting. Thanks for that link. They had sent me a mobile card swipe reader for my phone and I looked into it but I don't do enough business to justify the fees. The Payment Network is different, though. I'll have to do more research on that and see if it's worthwhile. Thanks again.

[sc53]

Maybe never was a strong word. Did you have any troubles with transactions when having bought with this account? Before issues with transactions i dont think it matters at all. But if things go wrong and you file a claim that paypal does not rule in your favor on, thats pretty much it. When paid with cc you can claim with the cc company as well. Paypal is somehow suppose to be on both parties sides in a dispute since both parties are their customers. It does not compute for me.

Not true. You also have recourse through your bank. I have had a couple of occasions where some service I thought I had cancelled continued billing me monthly or quarterly via PayPal directly from my bank account. I called the vendor, then my bank, and my bank issues a "provisional credit" of the disputed amount immediately. That day. That instant. Then it may take a few weeks for the bank to investigate the vendor and the claim etc. By then the vendor hopefully will have refunded me as well. At that point, I have received two credits for the disputed charge. Eventually, my bank cancels the "provisional credit," once they see the vendor refunded me the erroneous charge, and everyone is whole. That has worked well for me. The bank always asks if you have contacted the vendor first. If you have, the provisional credit is done while you wait. At least with my bank (Wells Fargo, which ain't great on customer service but has served me well over PayPal mishaps).

[12snap]

Intuit Payment Network (https://ipn.intuit.com/login/home) is different than their card processing services, which I have also used in the past. I've been using IPN for *about* a year and it's literally $0.50 per transaction.

Cheers,
KP

I see that they're charging $0.50 per transaction for bank transfers but they charge 3.25% to receive a credit card transaction. If that's the case, this may not work for me.

[markie]

I like paypal! If a classified seller does not take paypal I am normally scared way from making a purchase.

[jlwdm]

I have not had any problems with PayPal. Buy and sell and leave some money in the account. All very smooth.

Jeff

[rice rocket]

I use Paypal for mostly every non-business transaction I make online. Their rates are high, but they do provide *some* buyer protection.

I only ever pay through my AMEX so I have extra time to dispute, and AMEX will go to bat for me so I don't have to.

I have my bank account linked for when I receive money, but only to my checking acct, which never has more than a few hundred in it.

[Coluber42]

Sending money around is complicated and expensive, pretty much no matter how you do it. PayPal may be more inclined to side with a buyer over a seller, but in that way at least they're no different than any other way a small seller (individual, small business, anyone who's not Target or Amazon or whatever) might accept payment electronically. If you buy something with your credit card and then dispute the charge, it is ultimately the merchant who is on the hook for the money when the bank gives it back to you. If you're a merchant and someone uses a stolen credit card to buy something, you're out the money and it's very unlikely that you're going to get the merchandise back. In fact, signing up for traditional credit card processing services involves a detailed credit check and all kinds of rigamarole because the bank will hold you responsible if that happens and wants to make sure you're going to have the money.

I use Stripe for Dill Pickle Gear's shopping cart, now that Google Wallet does not process that type of transaction anymore. Stripe, incidentally, holds onto the money for a week before I get it to protect against chargebacks, since they do not require a credit check to use their service. I accept PayPal too, if someone wants to use that instead, and have never had a problem with it.

More and more though, I have been making online purchases using PayPal if it's available, just because it cuts down on the number of places that have ever seen my credit card number. It's not necessarily even a matter of whether I consider them trustworthy per se; even if they have good intentions and above-average security, they can still get hacked if they store your information, and you may or may not be able to easily tell from going through their checkout process whether they store it or not. Not that PayPal couldn't conceivably get hacked too, or my password stolen or whatever, but at least it's just one place as opposed to all the places it could be otherwise. Anyone shopped at Target recently? :P

[rice rocket]

Any credit card I've ever used has a guarantee against lost and stolen card numbers, I'm not sure why everyone is so up in arms about using cards.

AMEX overnights you a new card, other banks take up to a week...but still, it's the credit card companies feeling the pinch, not you...

[merlinmurph]

Any credit card I've ever used has a guarantee against lost and stolen card numbers, I'm not sure why everyone is so up in arms about using cards.

AMEX overnights you a new card, other banks take up to a week...but still, it's the credit card companies feeling the pinch, not you...

Especially if you use a virtual credit card number, a one-time use number. If someone steals that number, it's useless.

[stien]

Finally got my money back. Probably going to close up my account. Will reduce further expenditure for sure.

Sent from my SAMSUNG-SM-G730A using Tapatalk