A couple of things...
First is that people are blowing right past part of the policy
statement:
"a $500 limit on receiving credit card payments every six months"
Note that if someone is paying you from a balance in their account,
it doesn't count against you. So if someone is sending you a
$200 payment but has $175 in their account from stuff they sold,
only $25 of your $500 limit is eaten up. Which of course begs
the question: How the f*ck are we supposed to know how we are
being paid??? Without some kind of change to the information we
receive on payment, we'll have no idea.
Further, I'll be d@mned if I'm going to sign for their business
plan and forfeit the transaction fees on the $500 that I'd get
free had I not signed up. Under it's current implementation,
there is no reason to sign up unless forced to do so - they don't
state that they exempt the first $500/6 months. Excuse me if I
don't jump right up and join.
If paypal had to make a change to stay afloat, then I can't hold
it against them. I *can and do* hold it against them that their
changes are poorly thought out (at least from my perspective -
they don't spell out the logic of their changes, near as I can
tell because there is none). Let me sketch that perspective
out a bit.
I'm probably one of the customers that Paypal actually likes.
I tend to leave a $100+ balance in my account for weeks to months
at a time. I've never requested a cash payout from my balance.
I use eb@y/paypal as a way of accumulating "mad money" for lack
of a better term - it funds (mainly) computer upgrades that I
otherwise wouldn't be budgeting/spending money on. When I am
getting close (90%ish) to having enough for what I want, I start
bidding and by the time I get one of what I want for what I want
to pay, I usually have the entire amount in my balance.
When Paypal first started up, the "how do we do it" section of
their FAQ stated they were counting on a very, very large percentage
of their transactions not to involve a credit card at all - that
they just be internal transactions from one paypal balance to
another - at near-zero cost to them. The money they make on the
float was to be their sole source of income. And it probably
worked that way at first. Unfortunately, they made the service
attractive enough to people who DID have merchant accounts to
abandon them in favor of Paypal's free service.
My guess is that it is these people, who have NO INTENTION
WHATSOEVER of keeping a balance for paypal to earn a float
on and request weekly (or more frequent) checks of their
balance that is killing Paypal. Hence the "business and
premier" accounts that could shuffle money into bank
accounts automatically, for a fee, just as they'd be getting
with their merchant accounts. But how to enforce it? Apparently
by sending out letters to people who triggered their unspoken
transaction limit. Dumb.
Had paypal come out and said "there will now be a 2% processing
fee for cutting a check or transferring money more than once
per month to a bank account" I would have had NO PROBLEM AT ALL
with their decision. People using it as a merchant account
for their business would find those terms unacceptable and
either sign up for their business service or move along, freeing
them up of the burden those accounts place on their business
model.
As it is, though, I'll be keeping my account active until I
hit the $500 limit, at which point I'll switch to one of
their competetors. Unless, of course, they come out with
more poorly-thought-out, counter-productive rules. Who knows,
I may even keep it active longer than that - wait out the 6
month period and use it again. But under no circumstances
will I be signing up to pay a per-transaction fee and my
days of maintaining a balance are history - I'll be requesting
my first check ever (around $220) to protect myself from any
future poorly-publicized near-immediate policy changes that
could let them get their hands on my balance. I guess they
have accomplished something with this policy change - they've
changed the behaviour that probably made me one of their favorite
users.
Sigh.
First is that people are blowing right past part of the policy
statement:
"a $500 limit on receiving credit card payments every six months"
Note that if someone is paying you from a balance in their account,
it doesn't count against you. So if someone is sending you a
$200 payment but has $175 in their account from stuff they sold,
only $25 of your $500 limit is eaten up. Which of course begs
the question: How the f*ck are we supposed to know how we are
being paid??? Without some kind of change to the information we
receive on payment, we'll have no idea.
Further, I'll be d@mned if I'm going to sign for their business
plan and forfeit the transaction fees on the $500 that I'd get
free had I not signed up. Under it's current implementation,
there is no reason to sign up unless forced to do so - they don't
state that they exempt the first $500/6 months. Excuse me if I
don't jump right up and join.
If paypal had to make a change to stay afloat, then I can't hold
it against them. I *can and do* hold it against them that their
changes are poorly thought out (at least from my perspective -
they don't spell out the logic of their changes, near as I can
tell because there is none). Let me sketch that perspective
out a bit.
I'm probably one of the customers that Paypal actually likes.
I tend to leave a $100+ balance in my account for weeks to months
at a time. I've never requested a cash payout from my balance.
I use eb@y/paypal as a way of accumulating "mad money" for lack
of a better term - it funds (mainly) computer upgrades that I
otherwise wouldn't be budgeting/spending money on. When I am
getting close (90%ish) to having enough for what I want, I start
bidding and by the time I get one of what I want for what I want
to pay, I usually have the entire amount in my balance.
When Paypal first started up, the "how do we do it" section of
their FAQ stated they were counting on a very, very large percentage
of their transactions not to involve a credit card at all - that
they just be internal transactions from one paypal balance to
another - at near-zero cost to them. The money they make on the
float was to be their sole source of income. And it probably
worked that way at first. Unfortunately, they made the service
attractive enough to people who DID have merchant accounts to
abandon them in favor of Paypal's free service.
My guess is that it is these people, who have NO INTENTION
WHATSOEVER of keeping a balance for paypal to earn a float
on and request weekly (or more frequent) checks of their
balance that is killing Paypal. Hence the "business and
premier" accounts that could shuffle money into bank
accounts automatically, for a fee, just as they'd be getting
with their merchant accounts. But how to enforce it? Apparently
by sending out letters to people who triggered their unspoken
transaction limit. Dumb.
Had paypal come out and said "there will now be a 2% processing
fee for cutting a check or transferring money more than once
per month to a bank account" I would have had NO PROBLEM AT ALL
with their decision. People using it as a merchant account
for their business would find those terms unacceptable and
either sign up for their business service or move along, freeing
them up of the burden those accounts place on their business
model.
As it is, though, I'll be keeping my account active until I
hit the $500 limit, at which point I'll switch to one of
their competetors. Unless, of course, they come out with
more poorly-thought-out, counter-productive rules. Who knows,
I may even keep it active longer than that - wait out the 6
month period and use it again. But under no circumstances
will I be signing up to pay a per-transaction fee and my
days of maintaining a balance are history - I'll be requesting
my first check ever (around $220) to protect myself from any
future poorly-publicized near-immediate policy changes that
could let them get their hands on my balance. I guess they
have accomplished something with this policy change - they've
changed the behaviour that probably made me one of their favorite
users.
Sigh.
:disgust: I am a seller... I try to sell as much as I can since I am a college student and though I do work part time for the school installing network cards in students puters they only pay me minimum wage. I have been selling Plexwriter 12x's they cost me about $230 bucks when I bought them. I sell them for $265, I get charged about $7 from egay to sell them. Now to get the payments I have to pay another $5 to accept paypal. (also have to pay for the shipping cost) That cuts my profit from 15% initial, 10% after egay to 8% after paypal. I don't need any more fees. Egay is bad enough as it is. You should only have to pay listing price not comission on what you sell.
WJones,
In response, I you contradicted yourself....The $500 credit card spending limit only applies to PERSONAL accounts!!!!! You said "What BUSINESS can survive on $3.33 a day". HELLO!!! If you are BUSINESS trying to survive on $3.33 you should not have a PERSONAL account, you should have BUSINESS account that has the unlimited amount for receiving funds!!!
In response, I you contradicted yourself....The $500 credit card spending limit only applies to PERSONAL accounts!!!!! You said "What BUSINESS can survive on $3.33 a day". HELLO!!! If you are BUSINESS trying to survive on $3.33 you should not have a PERSONAL account, you should have BUSINESS account that has the unlimited amount for receiving funds!!!
I want to give props to Damon for getting somebody at paypal moving to correct my problems!
Thanks Damon!
-Jon
I want to thank Jon3 for being the first person I have seen to actually THANK Damon....
I have been following as many of these threads as I can...and I haven't really seen anyone say ....
Thank you Damon
*Hey Damon..on a little side note...it has to be pretty hard to read all these nasty things people are saying about the company you work for...I just want you to know that there ARE people out here that are behind you all the way...*
I have been following as many of these threads as I can...and I haven't really seen anyone say ....
Thank you Damon
*Hey Damon..on a little side note...it has to be pretty hard to read all these nasty things people are saying about the company you work for...I just want you to know that there ARE people out here that are behind you all the way...*
Paypaldamon:
When PayPal started, back when I signed up, there was nothing such as PERSON-TO-PERSON payments, only one type of payment and it was to be ALWAYS FREE. The FAQ file of "how can we do this" said they'd make money off the float.
However, if you want to now say PERSON-TO-PERSON is free, well last I checked those who sent me a payment was a PERSON and I'm a PERSON (though some probably will debate that:Q)
To determine that a person who has $500 of receipts is a BUSINESS is outright rediculous. If I use PayPal to have family and friends send me money for my parents anniversary gift of over $500, I'm a busines? That's just STUPID!
If I sell one auction item of $1000, I'm automatically lumped into being a BUSINESS? According to the IRS, I'm a HOBBY! As many already pointed out, $500 is 6 month cycle does not make it a BUSINESS. A real BUSINESS is going to have THOUSANDS of dollars of payments in 6 months, heck, they'll have more than $500 in a week if they are truely a business.
Go ahead, let PayPal twist, turn and distort their original policies for ALWAYS FREE (and I see you have no problem distorting the facts either). Then let PayPal also set-up utterly rediculous policies as to what constitutes a business just to charge almost anyone who really uses their service a fee, something that was sold as ALWAYS FREE. :disgust::frown:
When PayPal started, back when I signed up, there was nothing such as PERSON-TO-PERSON payments, only one type of payment and it was to be ALWAYS FREE. The FAQ file of "how can we do this" said they'd make money off the float.
However, if you want to now say PERSON-TO-PERSON is free, well last I checked those who sent me a payment was a PERSON and I'm a PERSON (though some probably will debate that:Q)
To determine that a person who has $500 of receipts is a BUSINESS is outright rediculous. If I use PayPal to have family and friends send me money for my parents anniversary gift of over $500, I'm a busines? That's just STUPID!
If I sell one auction item of $1000, I'm automatically lumped into being a BUSINESS? According to the IRS, I'm a HOBBY! As many already pointed out, $500 is 6 month cycle does not make it a BUSINESS. A real BUSINESS is going to have THOUSANDS of dollars of payments in 6 months, heck, they'll have more than $500 in a week if they are truely a business.
Go ahead, let PayPal twist, turn and distort their original policies for ALWAYS FREE (and I see you have no problem distorting the facts either). Then let PayPal also set-up utterly rediculous policies as to what constitutes a business just to charge almost anyone who really uses their service a fee, something that was sold as ALWAYS FREE. :disgust::frown:
DAMON: I think one ide stated a few posst earlier is excellent:
Make users who RECEIVE more than $500 in CC payments wait 30 days before withdrawing if they want to , say , avoid a 2% charge. That wy paypal will keep the money floating, and users can accept more money without paying fees...like the guy said, a business will pay the fee to get the money quick...
but then i guess paypal plans on giving market-rate interest on accounts so maybe things will be different, well see..all i know is that PAYPAL SHOULD HAVE CONDUCTED SOME CONSUMER/FOCUS GROUP STIDY BEFORE MAKING THE CURRENT POLICY CHANGES!!!
Make users who RECEIVE more than $500 in CC payments wait 30 days before withdrawing if they want to , say , avoid a 2% charge. That wy paypal will keep the money floating, and users can accept more money without paying fees...like the guy said, a business will pay the fee to get the money quick...
but then i guess paypal plans on giving market-rate interest on accounts so maybe things will be different, well see..all i know is that PAYPAL SHOULD HAVE CONDUCTED SOME CONSUMER/FOCUS GROUP STIDY BEFORE MAKING THE CURRENT POLICY CHANGES!!!
I'm pretty sure that everyone in the United States will agree that someone making $500 in transactions(not profit, people, usually less than %10 or even a negative profit margin) over a 6 month perid is NOT operating a business. Paypal themselves really can't argue this point, and if they do, paypal is an even sh!tier company than I have just came to realize. What is going on here is clear cut, you guys want more money, so you force us to pay it.. we are not operating businesses yet you come up with some bs scheme to say Yes- you are operating a business! when the fact of the matter is No I am not operating a business- this is just some way for you to charge me money, and I'm not going to bend over and take it. Account closed.
I spend just about as much as i receive by paypal, so like paypal should deduct the amount sent via paypal against the amount received against the $500. I'm not a business, im a trader. I don't make profit in cash, just upgrade and trade parts that aren't useful to me , for things that are.
Guys, paypal is screwing me up, i just sold some stuff, and they sent me an email saying that i have unusal activity because people is sending me money all at once, and they restrict my account and prevented me from withdrawning, what can i do? I wrote to them, called them, but still its the third day, still no respond. Can anyone give me some advise? Or does anyone know how long this thing is going to take?
I think that's it for me, I've heard from too many people now who are having problems with thier PayPal accounts. I'm not about to let them lock up any of my money in my account. I will no longer be listing PayPal as a payment option on my E*bay auctions.
Kind of a shame though. I was able to get the items delivered 2 days after the acution sometimes when they payed through PayPal.
Kind of a shame though. I was able to get the items delivered 2 days after the acution sometimes when they payed through PayPal.
Peacefull,
You said "What BUSINESS can survive on $3.33 a day". HELLO!!! If you are BUSINESS trying to survive on $3.33 you should not have a PERSONAL account, you should have BUSINESS account that has the unlimited amount for receiving funds!!!
I don't think you get my point. If my average payment received is $4/busiess day (total of $600 in 6 months), by Paypal's definition, I'm in BUSINESS!
But ask yourself, is receiving payment of $100/month consider business?
What I point out is that Paypal is using some BS statement to FORCE non-business users consider themselves are in real business!
You said "What BUSINESS can survive on $3.33 a day". HELLO!!! If you are BUSINESS trying to survive on $3.33 you should not have a PERSONAL account, you should have BUSINESS account that has the unlimited amount for receiving funds!!!
I don't think you get my point. If my average payment received is $4/busiess day (total of $600 in 6 months), by Paypal's definition, I'm in BUSINESS!
But ask yourself, is receiving payment of $100/month consider business?
What I point out is that Paypal is using some BS statement to FORCE non-business users consider themselves are in real business!
i've had at one point over $3000 in my account, and well it wont be there now for them to make interest on. I will only be using paypal to send money to the few people who will still use it. Need to find a new one that is good, payplace seemed good, but i cant get it to verify my address at all.
I received email from paypal for another change (bad one, of course):
October 9 is the last day for Personal Accounts to earn Referral Bonuses ? after that, only Premier and Business users are eligible for this special promotion.
October 9 is the last day for Personal Accounts to earn Referral Bonuses ? after that, only Premier and Business users are eligible for this special promotion.
I seen it in some other post where starting Nov. 1, if you don't have a balance of $500 or more, there will be a $12 charge.
Is this true.
I can't seem to find it on paypal.com website.
HELP!
Is this true.
I can't seem to find it on paypal.com website.
HELP!
... so really all you right wingers who defended X.com and Paypal and too, those hanger-on's, what did you expect? Fair play from Paypal? I feel sorry for those who read these post and were warned yet stayed with X.com/Paypal... NOT!
Watch your money get locked up and try, try, try to get service to get it back. Waste your time and pay those fees for abuse? You deserve the treatment you defended as this companies rights.
To those who heeded the warnings and those who finally quit defending such awful service and have moved to other vendors deserving your business...GOOD FOR YOU!
Watch your money get locked up and try, try, try to get service to get it back. Waste your time and pay those fees for abuse? You deserve the treatment you defended as this companies rights.
To those who heeded the warnings and those who finally quit defending such awful service and have moved to other vendors deserving your business...GOOD FOR YOU!
Hey onepotatoe, i don't agree with you, there are people like me who got funds lock up before we read this tread, and i certainly do not approve bad business practises and if they are going to lock up my funds, i'm not using it anymore, and i will cancel my membership too.
locked my account AGAIN , even after a "full " investigation and apology email...
GET ALL YOUR MONEY OUT ASAP!!! I think they are locking accounts becuse everyone is cashing out and they dont have the money to cut the checks!!!
GET ALL YOUR MONEY OUT ASAP!!! I think they are locking accounts becuse everyone is cashing out and they dont have the money to cut the checks!!!
This is starting to worry me. I have a lot of money in my X.COM account that I need to move somewhere else. I'll need to find another online bank
Spec411, may i know why they lock your account? Is that one of those restricted account deal? I got my account restricted, and i tried to email them alot of times, but the reponse is very slow. How long did they take?
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