POLL: PayPal Users - Will You Continue To Use It In Light Of Their Updated Policy?

[ShotgunSteven]

I plan to close my account down. Back to money orders only for my auctions, unless more people start using c2it. :disgust:

THREAD DISCUSSING THE CHANGES

 

[Murpheeee]

what's the changes?

I got the Email but it's so looooooooong

 

[SirDante]

Originally posted by: Murpheeee
what's the changes?

I got the Email but it's so looooooooong

 

[BillGates]

I'd also like to know about the changes.

 

[Mallow]

I read through it briskly... I didn't see anything earth shattering. Do you mean the option of investing your paypal account balance into paypal shares and earning a return on your money?

I personally recieve a paypal payment and immediate transfer it to my bank account. It's free and take 3-4 business days. I never leave a balance in my paypal account, ever!

What are the new changes you refer to that would make me consider dropping my paypal account?

 

[edro]

Maybe you could enlighten us on the major changes.

 

[DeafeningSilence]

Originally posted by: Mallow
I read through it briskly... I didn't see anything earth shattering. Do you mean the option of investing your paypal account balance into paypal shares and earning a return on your money?

I personally recieve a paypal payment and immediate transfer it to my bank account. It's free and take 3-4 business days. I never leave a balance in my paypal account, ever!

What are the new changes you refer to that would make me consider dropping my paypal account?

ditto

 

[EvilYoda]

I would also like to know if there are any differences than what was already mentioned.....I never keep anything in my paypal, as annoying as it might be sometimes (like when I'm trading a lot of stuff back and forth).

 

[ShotgunSteven]

Updated the original post with a link to the thread discussing the policy.

 

[Evadman]

Ebay took it over, which means screw the seller. Just moreso.

One of the major changes is that the buyer needs to only send back the item by trackable carrier to get a refund. You could send out a $150 mainboard, the buyer then asks for a refund, and sends back a brick. as long as it is by a traceable carrier and shown to get to the sellers address, they get a refund.

Hello new scams.

 

[SoylentGreen]

Originally posted by: Evadman
Ebay took it over, which means screw the seller. Just moreso.

One of the major changes is that the buyer needs to only send back the item by trackable carrier to get a refund. You could send out a $150 mainboard, the buyer then asks for a refund, and sends back a brick. as long as it is by a traceable carrier and shown to get to the sellers address, they get a refund.

Hello new scams.

That doesn't sound too good at all. :|

 

[ShotgunSteven]

Originally posted by: Evadman
Ebay took it over, which means screw the seller. Just moreso.

One of the major changes is that the buyer needs to only send back the item by trackable carrier to get a refund. You could send out a $150 mainboard, the buyer then asks for a refund, and sends back a brick. as long as it is by a traceable carrier and shown to get to the sellers address, they get a refund.

Hello new scams.

Hmm. How many gigs of DDR can that brick support?

 

[Mallow]

thx for the extra info.

All that means to me is big dollar items will be done through a MO, just as I have always done. I never enjoyed losing the 2.9% to paypal anyhow. I've never made a sell through paypal for over $60 and will continue to do so.

 

[SunnyD]

I stopped using Paypal last year after they allowed my account to go WELL into negative balance due to service fees. After that I told them to screw themselves and been using cash/check/MO since.

BTW, Paypal is being scrutinized by the FTC from what I hear because "... their practices include services that are very bank-like yet they do not abide by US or international banking regulations nor are their depositors insured by the FDIC..." - which is why they sold out to eGay. Owners took the money and ran before they got closed down or regulated by the government.

 

[ShotgunSteven]

Originally posted by: SunnyD
I stopped using Paypal last year after they allowed my account to go WELL into negative balance due to service fees. After that I told them to screw themselves and been using cash/check/MO since.

BTW, Paypal is being scrutinized by the FTC from what I hear because "... their practices include services that are very bank-like yet they do not abide by US or international banking regulations nor are their depositors insured by the FDIC..." - which is why they sold out to eGay. Owners took the money and ran before they got closed down or regulated by the government.

Added a category for people like you that used it but quit before this ever happened.

 

[SunnyD]

Originally posted by: ShotgunSteve

Added a category for people like you that used it but quit before this ever happened.

Thanks, just voted then.

 

[ShotgunSteven]

Evening ^BUMP!^

 

[Geekbabe]

I tend to use Paypal only to send money to family and to deal with long established traders here on our for sale forums so I'll continue to use it.

 

[olds]

Originally posted by: Geekbabe
I tend to use Paypal only to send money to family and to deal with long established traders here on our for sale forums so I'll continue to use it.

That's a good point. Paypal is very convenient to use. But it may behoove us to use it with established traders and make other arrangements for not so established traders.
BTW Geekbabe. As long as your sending money to family members I guess it's time I told you that I am a long lost cousin in need of $100.00

 

[Mallow]

yeah, I think established traders should still be safe to use paypal with.

Question: Am I established? :Q

 

[Orsorum]

Actually, no. I never used it anyway... just another open account. I'm closing it as soon as the $15 that was in it get transferred to my existing bank account.

 

[edro]

From the other thread: "paypal refunds the buyer their money in full. Seller has account debited. If you have a zero balance your account may get locked (in the new agreement)"

What happens if I am a Premier Paypal guy with the ATM card and the linked checking account? If I have a $0.00 balance and the guy scams me and gets his money back..... will it withdrawl the money out of my checking ATUOMATICALLY? Can they do that?

If they just lock my account..... that would be fine with me. I would just make another one, or never use Paypal again. If my account gets more than $50 in it, I just withdrawl it at the ATM.

 

[edro]

Ah ha! I just CALLED Paypal. They said that this policy change situation Could easily happen: "One of the major changes is that the buyer needs to only send back the item by trackable carrier to get a refund. You could send out a $150 mainboard, the buyer then asks for a refund, and sends back a brick. as long as it is by a traceable carrier and shown to get to the sellers address, they get a refund."

He said that I would have to file a complaint with the police or the FBI? haha.... (Your word VS. his)

He then told me that if my Balance was $0.00 and the buyer got a refund, my account would just go into the Negative....and they are not allowed to take the money out of my checking account or credit card. PHEW! That's fine by me!

 

[PCMarine]

Man that's really screwed up.

 

[erikiksaz]

Well, so long as they don't deduct from the cc/bank account, it won't be nearly as bad as it could have been. The only problem with paypal is that it's too convenient for me to stop using.