Hi, I just got an email from paypal saying that they transfered all the money in my paypal account to my credit card and that from now on I cannot transfer money from my paypal account to the credit card (as in if I ever wanted to withdraw money from my paypal account in the future I would have to give them a bank account to transfer to). Is this happenning to everyone or just Canadians? If there was an alternative to paypal that was available to Canadians I would sure be interested.
What's the deal with paypal now?
- Thread starter fourtwenty
- Start date
Umm.
Well, I added my bank account after a paypal scare, because I couldn't send money since the CC i used wasn't authorized to send money, & so I took it all out then.
Now I have both my bank account & my dad's card in there, but they didn't take my money.
ps. bump from a canuck.
joinT
Well, I added my bank account after a paypal scare, because I couldn't send money since the CC i used wasn't authorized to send money, & so I took it all out then.
Now I have both my bank account & my dad's card in there, but they didn't take my money.
ps. bump from a canuck.
joinT
Straight from their mouths:
Dear PayPal Member,
As we have stated in a prior email to you, PayPal is
no longer offering our members the ability to withdraw
money from their PayPal account to deposit to their
VISA card as of 10 March 2001.
If you had not registered a VISA card with PayPal and
withdrawn your entire PayPal account balance by early
March 2001, PayPal automatically withdrew the entire
amount and deposited it to your VISA card, with no
withdrawal fees charged.
At this point, your PayPal balance has been cleared,
and all outstanding payments to you classified as
"pending" were reversed and refunded to the original
sender.
The following amount was withdrawn from your PayPal
Account and deposited to your Visa credit card on
13 March 2001:
$XXX.XX
Please note that this new VISA withdrawal policy will
not affect your ability to use your VISA card to pay for
your PayPal payments; you are still able to send money
for purchases through PayPal Shops or any of the
3 million eGay (tm) auctions that accept PayPal.
Again, we apologize for any inconvenience this change
might cause you. Thank you for helping to make PayPal
the world's #1 online payment service.
The thing that pisses me off is that I wanted to spend that money, but now I have to use my credit card and face the wrath of those that can't accept credit card payments.
Dear PayPal Member,
As we have stated in a prior email to you, PayPal is
no longer offering our members the ability to withdraw
money from their PayPal account to deposit to their
VISA card as of 10 March 2001.
If you had not registered a VISA card with PayPal and
withdrawn your entire PayPal account balance by early
March 2001, PayPal automatically withdrew the entire
amount and deposited it to your VISA card, with no
withdrawal fees charged.
At this point, your PayPal balance has been cleared,
and all outstanding payments to you classified as
"pending" were reversed and refunded to the original
sender.
The following amount was withdrawn from your PayPal
Account and deposited to your Visa credit card on
13 March 2001:
$XXX.XX
Please note that this new VISA withdrawal policy will
not affect your ability to use your VISA card to pay for
your PayPal payments; you are still able to send money
for purchases through PayPal Shops or any of the
3 million eGay (tm) auctions that accept PayPal.
Again, we apologize for any inconvenience this change
might cause you. Thank you for helping to make PayPal
the world's #1 online payment service.
The thing that pisses me off is that I wanted to spend that money, but now I have to use my credit card and face the wrath of those that can't accept credit card payments.
It sounds like they tried to warn you. I wouldn't blame them for that.
I know it's trendy to bash Paypal, but I've had nothing but good luck with them and they sure do make trading on line a lot easier.
I know it's trendy to bash Paypal, but I've had nothing but good luck with them and they sure do make trading on line a lot easier.
I haven't received anything like this from paypal! I just checked my balance and it is all still there. Anyone else get something like this from them?
paypal is fine until they charge me for that fee. heheheh anyways everyone needs to make a living so why not paypal. all around good news from paypal, knock on wood.
--SCSI
all around good news from paypal, knock on wood.--SCSI
i love paypal. been using them since basically when they started. i mean they added these fees, but i just charge more. besides they have to turn a profit, dot coms are expected to turn a profit now.
You see... an ACH transfer from your bank account to Paypal costs them a small fee (like $0.35 cents), while a credit card charge is percentage of the amount transferred (like 2%, but probably lower since they transfer a lot of money in a day). They are doing this so Paypal make more money.
I suggest looking in achex.com. They are free and transfer only from checking account to checking account. You never have to sorry about a chargeback.
I suggest looking in achex.com. They are free and transfer only from checking account to checking account. You never have to sorry about a chargeback.
Just like Rainguy, I haven't had any problems with PayPal other than logging in sometimes. When they started charging fees I was a bit disappointed, but hey, they've got to earn a living too, right?! Plus their fees could certainly be much worse!
I had the one serious f*ckup with them but other than that, pretty good luck!!what else is there that's as good??NOTHING!!
I just signed up with Western Union's Moneyzap. Although I haven't read the fine print yet I know they don't charge transaction fees like Paypal does with their Premier accounts.
i only use a bank account on a second checking i have which is always just small amounts just in case...and never use the credit card option paypal has. Less troubles.
Then I alyays choose the free option when it asks what type of transfer it is and thus far no troubles.
Then I alyays choose the free option when it asks what type of transfer it is and thus far no troubles.
I wasn't so much trying to bash paypal as see if anyone else has had this happen to them recently and to see if it was a Canadian thing or worldwide. I just don't understand what transfering all my money out of my account to my CC accomplishes...
If there was an alternative to paypal for CANADIANS I would use it, but I can't find anything else out there.
I agree that they have to make money too, and the best way is to charge people that use this service to make their living using this type of service, like all the resellers that frequent Anands for sale board.
If there was an alternative to paypal for CANADIANS I would use it, but I can't find anything else out there.
I agree that they have to make money too, and the best way is to charge people that use this service to make their living using this type of service, like all the resellers that frequent Anands for sale board.
Hi,
Users can still use their credit card to pay for items (international). The change was that the credit card companies requested that we not allow PayPal balances to be transferred to the credit card. In order to allow for withdrawals, PayPal is extending bank account capability to many countries (Canada has been included for nearly a month now).
Please feel free to come at me with any questions.
Users can still use their credit card to pay for items (international). The change was that the credit card companies requested that we not allow PayPal balances to be transferred to the credit card. In order to allow for withdrawals, PayPal is extending bank account capability to many countries (Canada has been included for nearly a month now).
Please feel free to come at me with any questions.
Hi,
I just wanted to let the users know that registered for PayPal Shops that it can be found on the web site now and that future feature enhancements will allow for easier search functionality.
Please feel free to ask me any questions.
I just wanted to let the users know that registered for PayPal Shops that it can be found on the web site now and that future feature enhancements will allow for easier search functionality.
Please feel free to ask me any questions.
mastertech01
Moderator Emeritus Elite Member
- Nov 13, 1999
- 11,875
- 282
- 126
OOps well there is "The Man" who can answer your questions.. LOL .. I was just guessing again..
Paypaldamon, my main problem is that I had cash in my paypal account that I was planning to use here, but now I can't use it. Every deal that I have done so far has been with someone that can't accept a credit card becaus they don't have the ability to accept more than $100 (I think that is the monthly limit right now). So if I want to spend that money it has to come off my credit card now and hence most of the people that I would have dealt with won't want my money. I think it would have been much more appropriate to have offered an option to customers like me as to whether or not we wanted our money transfered, rather than just going ahead and doing it. I'm also not overlooking the fact that paypal will now get to collect their 2.9% (or whatever the going rate is now) on this money when I try to spend it again.
Oh, and I refuse to give out my bank account info to any company. Call me paranoid but I think there is such a thing giving out TOO much personal info.
Also, are you paid to check out these type of boards and offer help, or do you just do it out of the kindness of your heart? If you are getting paid to do this then I think it is good that paypal is showing an interest in where much of their business comes from.
(grammar edited)
Oh, and I refuse to give out my bank account info to any company. Call me paranoid but I think there is such a thing giving out TOO much personal info.
Also, are you paid to check out these type of boards and offer help, or do you just do it out of the kindness of your heart? If you are getting paid to do this then I think it is good that paypal is showing an interest in where much of their business comes from.
(grammar edited)
Hi fourtwenty,
Yes, I am actually an official spokesperson for the company on the internet. We do it to see what our users are happy about and not so happy about.
Let me address the bank account information issue first--because a lot of users are wary about this.
If you send me a check, you have provided me with:
1. Name
2. Driver's License Number
3. Address (possibly phone number as well).
4. Bank account number
5. Routing transit number
If you register your bank account with us, none of this information is transmitted to the recipient and you are dealing with an organization, not an individual you don't know. In the unlikely event that the system was hacked---we provide Traveler's Insurance to our users up to $100,000.
If I read what you are saying correctly---you can't accept money into your account because you don't have a bank account on file? You are still able to send your money because of you initial credit card validation. I think I am just a little confused as to what the issue could be and I would like some additional clarification before going forward.
Yes, I am actually an official spokesperson for the company on the internet. We do it to see what our users are happy about and not so happy about.
Let me address the bank account information issue first--because a lot of users are wary about this.
If you send me a check, you have provided me with:
1. Name
2. Driver's License Number
3. Address (possibly phone number as well).
4. Bank account number
5. Routing transit number
If you register your bank account with us, none of this information is transmitted to the recipient and you are dealing with an organization, not an individual you don't know. In the unlikely event that the system was hacked---we provide Traveler's Insurance to our users up to $100,000.
If I read what you are saying correctly---you can't accept money into your account because you don't have a bank account on file? You are still able to send your money because of you initial credit card validation. I think I am just a little confused as to what the issue could be and I would like some additional clarification before going forward.
Being a little harsh, aren't we Red Dawn?
Paypaldamon, I'll try to explain this a little better.
I had money in my account. If I had used it to purchase something from a member that has not paid extra to accept mroe than $100 in CC payments, it would not count against their CC limit for the month. Now if I want to use that money that was originally in my paypal account, I will have to use it as a CC payment and it will therefore be counted against the users CC payment acceptance limit (and possibly put them over) for the month. Make sense?
The main reason that I won't let you guys at my bank account is that I wouldn't want you to be able to remove money from my account should someone pay me with a bogus credit card. I feel that if you are going to offer a service like this, you should accept full blame for allowing a fraudulant transaction. But that is just my opinion.
Paypaldamon, I'll try to explain this a little better.
I had money in my account. If I had used it to purchase something from a member that has not paid extra to accept mroe than $100 in CC payments, it would not count against their CC limit for the month. Now if I want to use that money that was originally in my paypal account, I will have to use it as a CC payment and it will therefore be counted against the users CC payment acceptance limit (and possibly put them over) for the month. Make sense?
The main reason that I won't let you guys at my bank account is that I wouldn't want you to be able to remove money from my account should someone pay me with a bogus credit card. I feel that if you are going to offer a service like this, you should accept full blame for allowing a fraudulant transaction. But that is just my opinion.
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