First X.COM, now PAYPAL has new rules changes that suck

[Damon]

Hi SuperRob,

I am not arguing for the company, but trying to advise of where the policy is and to correct and differences in information.

I have passed the concern along about the 500.00 limit on credit card funding over a six-month period. However, it is of note that users can still instant ach in money or add money from their bank account to pay for items. These are additional payment options.

 

[Esquire]

This is gonna make the news I'm sure... oh boy.

Bad Press = Bad Press

 

[Esquire]

If you make money off the float, just make a minimum in the account? or else you get charged

 

[Damon]

Hi Esquire,

Thank you for the feedback. I will pass this in my end of day.

 

[huey1124]

Hi Damon,

I asked a question in my previous post, and no one has answered it yet.
As a seller, almost anyone will do more than $500 in 6 months period, and thus forced to change to the Business account. Then I'm assuming that the seller is considered running a "business", even if the seller does not have a business license. Are all transactions in your Business accounts reported to IRS? As a seller, do I need to keep track of all the transactions in PayPal Business account, and include it when filing income tax? Thanks in advance.

 

[SuperSix]

Why does this PayPal sh!t piss me off?

$500.00/6 months? Nope, you're not forcing people to business accounts, you're forcing them to other payment services. That amount is ridiculous for an average auction seller.

WHY DID I HAVE TO FIND OUT HERE?
Actually, I noticed these changes the other day, after I decided to see if PayPunk had followed x.com's mis-lead.

X.c0m did the same crap, yanking my overdraft protection/credit limit w/o so much as an email.

I can accept shoddy, sloppy crap like this from nearly ANY company that DOESN'T handle MY money.

WIll I cancel PayUsedToBeMyPal?? Maybe. I can guarantee you I will close my x.com account.

Horrible business practices.

 

[Narse]

Have any of you guys looked at ecount they offer person to person money by e-mail, and you get it instantly, you can also get a check card tied to the account so you can get your money out just like a bank .
one note you can't move money from x.com to this account. x.com will not allow them to authorize.

Link
www.ecount.com

 

[wjones]

In short for all these, >$500/6 months means business is not practical.

Simplest calculations:
6 months = 180 days or 150 BUSINESS days (25 business days/month)

$500/150 business days = $3.33/business day

Please tell me, what kind of business can survive under $3.33 of business/business day. (I can't even go to McDonald with this business!)

 

[Damon]

Hi huey1124,

No, these items are not passed to the IRS (and I will state at this time only because government regulations can change).

 

[Bob61]

Paypaldamon:

I do stand corrected, it is .5% deposit fee. However, the 2.25% is still LESS than what PayPal is showing on their comparison. Can you explain that?

Secondly, your comment "(The ability to accept credit cards. Credit card acceptance increases sales and gives your buyers/bidders and additional payment option)

I've been selling part-time on Eb*y for years. Quite frankly, I had no problem in the past selling items when I requested money orders. Accepting PayPal, I feel, has not brought me any more buyers nor any larger bids. I accepted PayPal for convenience for my buyers, but it's not worth nearly 2% of each of my sales. I don't get the funds any quicker, and again, I have NO RISK with money orders compared to PayPal.

As an example of risk -- I almost was burned for $435 payment. A user of PayPal sent me payment. In reviewing his bids, and that he wanted this shipped to an international address, I smelled a rat. Contacting PayPal customer service brought me little support in determining the status of the account holder. On my gut feel (as I said, I've been doing this for years) I refused to ship and sure enough, I now have a demand for payment from PayPal for the payment as it was a forgery. If I would have shipped, I would have been burned for a huge loss. I know of 3 others who did accept PayPal and shipped items, they are now out some big bucks. How did an UNVERIFIED account have the ability to pay ment $485 and then also burn the other three for a total of nearly $600? In all my years of selling, I've never been stiffed on a payment, NO RISK. PayPal does have risk and I get to pay a premium for this risk? No thanks. The SENDER should be paying the fee, it's for their convenience.

PayPal has played me for a stooge. They pushed "ALWAYS FREE" when I signed up. I have referred nearly 75 users to use the FREE service, and now I look like a clod in their eyes for the referral! I will be modifying my auctions to appropriately list why I will no longer accept PayPal.

Enough said. I think you get the point.

 

[jjm]

Let me add my disdain for the "bait and switch" engineered by PayPal and x.com. I have already cancelled my x.com account and will get rid of PayPal shortly. Back to checks and money orders. Big deal. PayPal is sadly mistaken if it thinks people are so hooked on its service that they are willing to pay for it.

 

[vinnyracer]

$500 limit! suck! Paypal is suck!!!

I think the limit should be more like $2000 or 3000.

Thinking about closing my account too.

So, would be best bet me www.ecount.com

 

[daclayman]

I only see this as an even better reason to clean my computer room/warehouse. fleaBay is beggin me to sell my crap, yet I play TFC all day. I've listed 3 items, will have 4 more up tomorrow. It's last call for EZ auctioning. I probably won't be playing with my friend Paypal anymore though. oh yeah BUMP

 

[jdparsons]

Bob61 said "I do stand corrected, it is .5% deposit fee. However, the 2.25% is still LESS than what PayPal is showing on their comparison. Can you explain that?"

Not to push the issue too much farther (and I most definitely DON'T work for Paypal/X.com) but:

1) Keep in mind that Billpoint JUST dropped their fee structure; PayPal needs to update the page, but it was correct before, I assume.

2) How in the world do you get those fees from Billpoint? From the one (and final) transaction I put through their system, they got 3.10% off a $290 auction. Even their site states 2.50% + $0.35 for $15.01 to $500 transactions. Add on the 0.5% deposit fee and we have.... >3.0%.

I must assume from this discussion that Billpoint's fee structure must be set by user, not fixed across the board -- what a rip. (Billpoint is suck.)

edit: Just noticed that the difference is between their standard and merchant accounts. Just how one obtains a merchant account remains a mystery to me -- inside my account info it fails to explain.

3) The PayPal fraud protection does extend to the non-Premier/Business sellers, according to their rules -- just have to be verified accounts.

As for me, I don't know whether I will continue to use Paypal or not; it seems like they could raise the bar to ~$1500-$2000 and satisfy everyone's complaints -- and it would probably cost less than losing users.

 

[spec411]

I dont think we should criticize PaypalDamon for being here or commenting...how often do we have A COMPANY EMPLOYEE here to offer help (even though Damon is not able to change Paypal policy, it proves they ARE listening to our input!)

However, it is even SADDER to see that they ARE listening to customer input, yet they are doing ALL the wrong things!

1. Making significant changes without PRIOR notice (by written mail, included with checks, or by email) is simply bad business.

2. Perhaps instead of making the credit card transfer amount so low they could have recouped fees by placing banners on their site, and including ads in the "You've got Money" emails...Im SURE we wouldnt mind a few ads in exchange for free service...

Damon maybe you can pass these along...

PS in one of your earlier posts you stated that Paypal (your company) has got it wrong, and should charge the BUYER a fee for using a credit card...i Wholeheartedly agree..much like bidpay.com, if a BUYER wants to charge their auction or other purchase, make them PAY a small amount for that convenience...otherwise us small businessmen have no incentive to accpeting credit cards and the risks inherent to them which is the reason we dont all have merchant accounts already!

As of now, I still recommend users switch to ECOUNT, which accepts visa mastercard and DISCOVER, gives you an ONLINE CREDIT CARD NUMBER like webcertificate, already has the ATM/Mastercard "check card" where you can withdraw your account balance or use it to make purchases at stores, and has no fees except $1 to send a check (they even send CERTIFIED checks costing them $3 for balances over $500!)

Most importantly, ecount has TRUE 24/7 CUSTOMER SERVICE via 1800 telephone, and they actually have the AUTHORITY TO HELP YOU, and can add or move funds via a telephone call! I beleive they also allow charges of up to $1000 per day with NO MAXIMUM! Try it!

 

[stonerdave]

Ok, I got the facts straight now...but I still have a question...aren't paypal and x.com the same thing???

 

[jdparsons]

<< Ecount...has no fees except $1 to send a check ... >>



...and to put credit to a card, and to use their ATM card (Plus any local bank ATM fees you will otherwise encounter.) Still sounds like a good deal though. How are they on the fraud protection end?



<< ...aren't paypal and x.com the same thing??? >>



UBet.

 

[Onepotato]

Wow! Has anyone noticed Paypaldamon never responds to the members here regarding the fact that Paypal lied about &quot;Always Free&quot;.

Obviously he's a company jer...cough...man and finds it preferable to harp on any subject which would distract from the hard reality that X.com and Paypal have screwed over their customers. Spin-control that just don't make it!

I find it satisfying that they are reaping what they've sown and that the majority of members here and elsewhere are not deceived by the NEW AND IMPROVED dog and pony show. Making promises and breaking them then promoting &quot;THE NEW POLICY CHANGES THAT WILL BE AN IMPROVEMENT FOR OUR CUSTOMERS&quot; is the status quo lie. Regretfully this is the tactic most used by these online companies. It's apparent they did all the &quot;no warning&quot; changes for their benefit and now there is a price to pay for which they will to do one more thing for their benefit...perpetuate their lies.

As people leave Paypal and join other services it will in turn cause other sellers/buyers of auctions to join these other pay services so they can pay and receive payment. This will eventually turn the tide and Paypal will fade away. New customers will be few and those lost will not return.

 

[Jon3]

Damon,

If paypal is so nice, why does it take 7 BUSINESS days for customer service to reply to an email.

Some guy paid me with a fraudulent credit card, and paypal suspended MY ACCOUNT.

Note, that is one transaction out of dozens of VALID transactions.

After pestering them for a week, they finally told me why it was suspended, and asked for details about this one transaction. I supplied them within 24 hours.

Now I've got to wait, what, another month before they get off their asses and reply?

No thanks, I'm taking my business elsewhere, and telling my bank to refuse any charges from Paypal until THEY contact ME.

Any company that hides its phone numbers is one to be scared of.

-Jon
jon@outland.net

 

[db]

(deleted)

 

[wjones]

Just to put a link here:
The FREE person-2-person payment site list! (hotter deal than paypal!)

and *bump*

 

[Damon]

Hi everyone,

Thank you for your feedback and I do appreciate it, be the comments negative or positive. I come to the forums to get a feel for what is doing well with our users and what is not, in addition to trying to make sure that any outstanding customer issues are resolved.

During times of policy change, I come out to make sure that any issues that need clarification are clarified and that unanswered questions get answered. The feedback does help develop all kinds of new policies and products to suit the needs of our users.

I will not, for obvious reasons, be able to respond to every post, but I do make an attempt to read them all to get a good feel for concerns.

 

[Bob61]

Paypaldamon:

You can't/won't answer all questions, but can you answer me why PayPal advertised their service as &quot;ALWAYS FREE&quot; and now they are not honoring this pledge?

 

[Aquarius]

Sorry folks, I have a question regarding the use of paypal. I know its kinda off topic and totally contrary to the intent of this thread, but there is some really important stuff I have to get off fleabay. Here's the ? If I want to pay using paypal, do I have to keep money in their account, or can I give them my bank card (that acts like a visa) and have them charge the card? Cause I really don't feel that safe keeping my money there... I wrote this here in hope of getting a reply quickly because the punks at paypal seem to have all the time in the world when replying to customers. Also, are there any charges involved when doing the above transaction cause I really don't feel like being ripped off right now..... thanks fellas.

 

[Ben_Tech]

Yes the new paypal rules are not good. Do any of you guys know of a service that a small web-based store could use to accept credit cards that is similar to paypal? What I want is something that I can input customers card #'s from telephone orders. Not sure I can do that with paypal?

Thanks.