Newbie PayPal Questions and Concerns

[Danman]

Man, this really scares me about this but I rely on paypal to pay for a lot of my things and for buyers to pay me. I'm only 16 so I can't get a credit card so paypal and my check card from my bank are the only payments I have.

 

[Mill]

This and the dozens of anti-paypal sites are why I canceled both of my accounts. That being said, Damon are you looking for a new job yet? With the crap that paypal does and the money they lose they WILL go bankrupt. Wait what about all the lawsuits too?

/me wonders

 

[Damon]

Hi Russ,


The answers provided were honest. I have advised that users can have LIABILITY for a chargeback recovered from their bank account if they signed up after October 11,2001. This issue has to do with chargeback liability, which is fully covered in our USER AGREEMENT. Any payment that is funded via credit card carries this risk. It doesn't change the fact that this is clearly defined in our USER AGREEMENT.

 

[Russ]

<< The answers provided were honest. >>



Damon,

The answers you provided were honest, only after I pinned you down. Until then, you either kept quoting TOS crap, or claimed that I was "incorrect" or "innacurate", when in fact, I'm right - and have been all along.

Russ, NCNE

 

[Viper GTS]

<< Man, this really scares me about this but I rely on paypal to pay for a lot of my things and for buyers to pay me. I'm only 16 so I can't get a credit card so paypal and my check card from my bank are the only payments I have. >>



I've been using PayPal for quite some time now, & I've never had a problem.

Stick to dealing with people you trust (ie sufficient heatware), don't take credit card payments at all, & don't keep money in your checking account & you should be OK. I have successfully used PayPal to send & receive somewhere around $5,000 (each way), & I have never paid a PayPal fee or had any trouble.

Viper GTS

 

[Damon]

Hi Russ,

No, I hate to say that you are wrong. I have disclosed that information in previous posts.

Questions:

1. Do you understand that chargeback liability is present when accepting credit card payments?

2. Do you understand that the liability will be recovered from a bank account only for users that signed up after October 11,2001?

3. Do you understand that liability for chargebacks is still present for users that signed up prior to that date? The only difference is in the method of recovery.

4. Do you understand that there are strict regulations regarding transactions to/from a bank account?

5. Do you understand that a transaction against a bank account ( outside of chargeback recovey for users that signed up after October 11,2001) will not occur unless the user specifically requests it off of the web site?

Is that clearer?

 

[Russ]

Damon,

I understand all of that. Matter of fact, I've been accepting credit card payments since long before Paypal oozed on to the scene.

None of what you posted alters the FACT that Paypal can, and DOES attach bank accounts when necessary to recover funds on a chargeback. Your customers have a right to know that upfront, clearly and without hesitation. Trying to hide the issue is just one more, of many reasons, that doing business with Paypal is dangerous.

Russ, NCNE

 

[QueHuong]

<< "If a chargeback is filed against a seller, and the seller has no funds in their Paypal account, does Paypal have the right to recover by attaching funds in the linked bank account? "

I've answered that in the past as well. Yes, for users that signed up after October 11,2001. >>



That's one part of what I needed to know. PayPalDamon, I would also like to know that if I close my account, will my credit card info and checking account info still be accessible to PayPal? Basically, can PP still withdraw money from either my CC or checking acct AFTER I close my PayPal account? Hopefully, the answer is 'no' but what proof can you offer me that shows PayPal won't still have my CC/checking acct info (ex. does it state specifically in the TOS that Paypal will not have access to those accts after the PP acct is closed)?

I currently have $20 in my PP account right now, I plan on spending it on eBay and then call my bank and credit card company to not accept any further withdrawals from PayPal. And then I'm gonna close the Paypal account. Will the bank and credit card company grant my request?

Lastly, what are better alternatives to PP?

 

[vegetation]

<<

Lastly, what are better alternatives to PP? >>



Billpoint has a new policy similar to paypal's sellers protection plan. Rules are similar; must ship to a confirmed/billing address, delivery confirmation required, signature required for goods over $250 (I think paypal is $500), US addresses only. Have not had the opportunity for any charges since they enacted their new policy so I have no idea how valid it is.

 

[QueHuong]

<< Billpoint has a new policy similar to paypal's sellers protection plan. >>



How about Yahoo's PayDirect? Are they more reliable and honest? And how ubiquitous are they?

PayPalDamon, please answer the questions in my last post. Not trying to put you in the limelight, but you work for PP so you know more about its operations.