HOT DEAL??? I went into paypal today and it offered a free ATM/Debit Card for my account. seems good to me>???

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SammyBoy

Diamond Member
Jan 7, 2001
3,570
1
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Hey guys.

If I am already a premier member is there anything to lose. seems really cool and promising, what do you guys say?
 
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zmatrix

Senior member
Mar 1, 2001
948
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Not to crap on the post, but I believe they offer the debit card to everyone. They sent it to me even without my request. Then they called me to ask to activate it. I personally hate that they did that without my asking for it.
 
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Shack70

Platinum Member
Apr 19, 2000
2,152
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It's not free...They want yout to upgrade your account. Once you upgrade your account, you pay a percentage on all transactions. I'd rather just electronically transfer the money and not have to pay the percentages. Besides who leaves a large sum of money in paypal?
 
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ajf3

Platinum Member
Oct 10, 2000
2,566
0
76
I've been using mine for a few weeks now - it's a pretty good deal since they give you 1.5% back on all purchases - shows up as a credit in you account as soon as the charge is posted.

They also offer guaranteed 110% pricematching with it.

































j/k!
 
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GetReal

Golden Member
Mar 30, 2001
1,747
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PayPal MasterCard debit card is only available for PayPal Premier and Business accounts. Unless they have recently changed their policy they don't even offer it to personal accounts and are very selective with the Premier and Business accounts that they extend an offer for the card. I have used the card since they first offered it last year and it is a good deal IMO...

1. Unlike most credit cards that make you want a month or longer for your cash back bonus, PayPal's cash back bonus is almost instant. You receive the bonus as soon as the merchant transaction is completed with Paypal. This usally only takes a few hours.

2. The 1.5% exceeds the offers paid y other cards that offer misleading incentatives with restrictions. This includes cards that offer airline miles.

The only downside that I have found is that you only earn the 1.5% if you use the PayPal card as a credit card at the merchant. If you use it as a debit card (ie enter a PIN) you receive no cash back bonus.

One "hidden" benefit of the card is that they do not deduct the cash back bonus on credits to your account from returned merchandise to a merchant. I have done this many times and never had a cash back bonus removed.

 
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LukFilm

Diamond Member
Oct 11, 1999
6,128
1
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I don't think everyone gets it, you must have a certain volume. It's great, I've been using it for about three months and love it.
 
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badluck

Diamond Member
Feb 19, 2001
5,357
0
76

Not to thread crap, just trying to be objective. PayPal is not FDIC insured so if you put your life savings in there and they go "belly up" you could lose everything. Also, if there is a problem don't expect PayPal to back you like a bank would. I say if you put small amounts of money in there it is a good deal but I wouldn't suggest using it as your manifest bank.

Read about it on some of the PayPal forums for more information...
 
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hoihtah

Diamond Member
Jan 12, 2001
5,183
0
76
even if it is fdic insured... i wouldn't place my life savings with them.
i have a friend who works there... who informs me of some inside stuff.

:)
 
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DongTran

Platinum Member
Jan 2, 2001
2,277
0
76
the debit card works great for me. transfer of funds from my paypal account to my bank account takes a few days, so if i want to make a purchase, i just do it with the card instead. same money, same smell, cash back.
 
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mithrandir2001

Diamond Member
May 1, 2001
6,545
1
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<< i have a friend who works there... who informs me of some inside stuff.

:) >>


Oh, I'm sure some of the stories wouldn't be pretty! Whenever my account has a balance, I sweep it to my checking account right away.
 
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PicPop

Golden Member
Aug 18, 2000
1,798
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<< One &quot;hidden&quot; benefit of the card is that they do not deduct the cash back bonus on credits to your account from returned merchandise to a merchant. I have done this many times and never had a cash back bonus removed. >>



yes..i tried it couple times....heehee..way to make money..j/k
 
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miniboot

Member
May 31, 2001
70
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crap and I have over $700 in ebay payments on there.

Thanks for hte heads up!

Knowing this company though I'll probably pay some ridiculous fee for transferring to my UK bank account, in addition to the 3 or 4 percent they take on each transaction.

Anyone know of (good) paypal alternatives?
 
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GetReal

Golden Member
Mar 30, 2001
1,747
0
0
the debit card works great for me. transfer of funds from my paypal account to my bank account takes a few days, so if i want to make a purchase, i just do it with the card instead. same money, same smell, cash back.


Same here. I fund my account once a week with my anticipated spendatures for that week. (usually on Sunday night) It usually takes less than 24 hours for funfds to show available in my PayPal account from my linked bank account. I also only charge items that I know I will not have to dispute with the merchant like food,gas,travel expenses,etc...
 
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BlingBlings

Junior Member
May 29, 2001
21
0
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Paypals great if you only ship to people in the US and it for small items. But if the credit card turns up stolen and you shipped the item USPS priority and didn't pay the extra money for a tracking number, your SOL. Paypal will automatically deduct the money from your account and if you don't have enough money in the account then they charge your credit card that you verified with them, or a direct draw from your bank account. And chargebacks can be 6 months later.

The only thing that bothers me about paypal is they really don't tell their customers this upfront. They make you search the page for the small print. But they flash that insured for $100,000 up on the main page and don't tell you what you have to do to really be insured for that.

Paypal's got some shady business pratices. I just stick to Money Orders or direct wires. Or e-gold, but thats a pain for most people to use.

 
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rickforrest

Senior member
Nov 5, 1999
228
0
0


<< the debit card works great for me. transfer of funds from my paypal account to my bank account takes a few days, so if i want to make a purchase, i just do it with the card instead. same money, same smell, cash back.


Same here. I fund my account once a week with my anticipated spendatures for that week. (usually on Sunday night) It usually takes less than 24 hours for funfds to show available in my PayPal account from my linked bank account. I also only charge items that I know I will not have to dispute with the merchant like food,gas,travel expenses,etc... >>



Seems like an unacceptable amount of work AND RISK merely to get an extra .5% back. You're taking two risks:

1. Paypal decides to seize your funds, freeze your acct, do a chargeback, etc.
2. Dispute with merchant and you have no resource.

I say an extra .5% because I have a Visa that pays 1% back, and it's a credit card with all
the protection and benefits therein.

When PayPal contacted me about the Debit card, I called them and told them I would not be activating it and to stop bugging me about it.

 
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GetReal

Golden Member
Mar 30, 2001
1,747
0
0
Paypals great if you only ship to people in the US and it for small items. But if the credit card turns up stolen and you shipped the item USPS priority and didn't pay the extra money for a tracking number, your SOL

IMO anyone who ships without a tracking number deserves exactly what they get. At least PayPal does offer some sort of seller protection unlike BillPoint that passes all chargeback to the seller even if you have proof of delivery.

OT: At least BillPoint is finally about to get a taste of their own medicine, the CA State Attorney General in cooperation with the FTC is investigating Wells Fargo (BillPoint principal parent company) for interstate banking violations resulting from the hundreds of compaint about BillPoint chargebacks. Class action suits will sure follow.
 
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mithrandir2001

Diamond Member
May 1, 2001
6,545
1
0
If you receive paypal money from a checking account and not a credit card (DirectPay?), it's probably as safe as a money order...and you don't have to visit the ATM to deposit it.
 
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Kwad Guy

Diamond Member
Dec 1, 1999
3,478
0
0
Is that true? PayPal can chargeback your account for up to 6 months?

OK, here's the question, and I am looking for an answer from someone
who actually knows, not just guessing...

If I take a payment using PayPal, is there any way I can fully protect
myself from a chargeback? Any period I can wait? How about if
I ship only to a verified user? What else?

Kwad
 
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mbriody

Member
Apr 20, 2001
40
0
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<< crap and I have over $700 in ebay payments on there.

Thanks for hte heads up!

Knowing this company though I'll probably pay some ridiculous fee for transferring to my UK bank account, in addition to the 3 or 4 percent they take on each transaction.

Anyone know of (good) paypal alternatives? >>



Doesn't cost me anything to transfer from the US to a UK bank.

If you open a second, UK-based, PayPal account (with a different email address) and link this to a UK bank account you can transfer cash between the two accounts quite easily.

Then you transfer the balance to your UK bank. It takes about 3 days and there's no charge. The exchange rate is not bad too.

Mark B
 
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SammyBoy

Diamond Member
Jan 7, 2001
3,570
1
0
thanks guys.

I wasnt planning on keeping my life savings in there, its just easier to use that than to have to send funds to my parent's bank account when I want to get the money for stuff I sold.

thanks for all the good responses
 
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